The Superior times. [volume] (Superior, Wis.) 1870-1912, 1894-11-24
How Will They Ger It'

Pioneer Press: Ignatius nonnelly, in
the Representative, shouts at the poo
pie to remember that the Peoples party
declares for greenbacks, 'iull legal ten
der, issued directly to the people, with
out the intervention of the banks"
And he abuses, of course, in the strong
est language he can find any policy
which proposes to male the banks a
medium through which the demand of
the people for flexible currency might
he satisfied. He SAYS of the direct issue
Of grecnbacks, in lieu of other money,
''this change, proposed 10y the Peoples
party, would save the people Of the
nited States SO, COO, 900 year interest,
now paid TO the national banks, for
getting between the people and the
government and putting forth an infer
inr currency"
Of course the whole statement is as
full of alsehood as an egg is of meat.
That DOnnelly makes it is assurance
enough of that. But We do not care to
examine the figures at the moment.
Accept them as they are. Take the
proposition just az it stands. And then
there is one simple question which we
have asked before Of the people whose
eyes are dazzled by the Populist money
theory, but to which no answer has
ever been given. If every word of the
above assertions were true, what we
want to know is how the people who
now get their money from the banks
and pay interest on it, are to get it from
the government without interest, after
the Greenback policy has got into full
swi;g That is what puzzles US.
The only way in which the United
States can get money into circulation,
can put out greenbacks, is to pay them
out for salaries, interest on the public
debt and general appropriations. Now
these moneys go right from the treas
ury into the hands Of reasonably we'll
to-do persons. At least they are not
borrowers, for the sums that they re-
ceive from the government support
them. The people who now 90 to the
national banks for money, who have to
borrow the notes Of those banks, who
pay, according to Mr.. Donnelly's fine
figuring, SIS, 10000 year Interest, are
the needy borrowers of the country.
They are the ones whom he proposes
to benefit by putting out greenbacks.
But there is a great gulph fixed be-
tween the money and the man. This
impecunious fellow, who has been paw
ing interest to the bank, can no more
get one of the new greenbacks, without
paving the same interest to the same
bank or to some other capitalist than
a man in st. Paul can keep warm this
winter because his wife's first cousin
is wearing heavy overco at in Phila-
delphia.
suppose the Peoples party program
in effect, and the treasury grinding out
grcenbacks. We do not understand
that Donnelly or Owen or any other
shining light Of finance proposes to
throw open the treasury doors, point to
the money stacked up in cords, and
invite everybody to help himself. Yet
that Is the only way to prevent the pay
mont of this 81, 900, 900 of interest, The
Minnesota farmer who now gets loan
OF $500 from his bank and pays interest
on it, wants that $500 Just the same
How shall he get it? The government
is issuing money direct to the people,
without the Intervention of the banks"
but he cannot get one look at it except
by exchanging for it, in the old way,
commodities or services. He cannot
step up to the treasury and make bis
loan. If he borrows, he must get the
money from some other, bank or priv
ate individual. If he gets it that way
he must pay interest for it. SO that the
connection between the debtor and the
money mill is just as far from establish
ed as ever. The payment of interest
goes on Just the same. The only differ
enCe is that these new issues Of money
90 straight into the hands of the spcu-
lators, who use them to swindle and inn
pOveriSh the working man and make
him suffer as he never did before. How
is the issue OF greenbacks to benefit the
borrower or put stop to interest pay
ments?
After this it is cruelty to animals to
mention the fact that in the adjoining
column to that containing the philippe
against money that costs anything,
when the government could Just az well
furnish it free, Mr.. DonneIly dweIls at
equal length upon the desirabilitv of
having it coin an unlimited number of
silver dollars, each of them requiring IS
cents worth of Silver bullion.
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