The farmers' union. (Memphis, Mo.) 1891-1895, 1894-06-07

CoNey. Keep on the grass.
Congress meets at eleven O'Clock;
CoNey. keep OF the grass:
And cries OF suffering people they mock:
CoNty. keep on the grass.
quorum for work they quite often lack
They re more int rested i'll how 10 get back.
W hat care they If work Is slack:
C"xey. keep on the grass.
CHoRrs-
CoXeS. keep OF the grass,
We're coming along Ell maSSe.
And you may bet our demands \ be met
For thousands are coming and don't You for
get:
Coxey keep OF the grass.
The man who works is beginning to think;
CoNey. keep on the grass;
Capital has forced him to the brink;
Coxey. keep on the grass;
Hungry men care little for law
Your cornstalk ''milish" you'd better with
Coxey keep of the grass
CHORUS
COXey. keep of the grass.
We wAnt no moro Of your sass.
For you may bet we've got our heads set
To X, ock you everlastinylv out III the wet;
Plutes keep of the grass.
American Economist
Can the Government do - Banking Husi-
ness.
Did the Government OF the United
States ever invest capital in the bank
ing business and receive proportion
ate share of the profits of such bust
ness?
The Republicans and Cleveland
Democrats would say certainly not"
If the Government ever could or ever
,li> such thing as to go in partner
ship with ca; italists in the banking
business, the populists would hold it
theories on Government ownership of
railroads and telegraphs. sub-t.easnry
and other patcrnal fallacies. Texas
Democrats especially deny such au-
thoritv as the Democratic platform
enacted 1T San Antonio. SAYS, eve
are opposed to paternalism i'll all its
FORMS"
Notwithstanding the assertion to the
contrary of the old party worshipers,
the Government did take stock in a
bank once upon a time, and realized
Sc, 4G}, l61 ,O7 clear profits out of the
transaction. Now for the facts:
Mr.. Calhoun as chairman of a
special committee, report to the House,
January Sth, 1916. bill to incorpor-
Rte the subscribers to the bank of the
United States. 1t was first considered
in committee of the whole February
Both and was under discussion for
about two weeks. The constitutional
questions which occupied 80 much
time of Congress in the chartering of
the first bank of the United Sta es,
received little attention. The debate
turned principally on the advantage
and disadvantage of Il national bank
The bill passed the House March
IA, 1916, by vote of 50 yeas to II
nays.
! 1t provided that 4 bank of the
United States should be established
wit a capital of SO. OOO.OOO divided
into $50, 900 shares of 800 each. 90
900 of these shares, equivalent to 81
900, 900 We're to be subscribed by the
United States. payable in coin or in
stock of the United States bearing in
terest ut per cent. rer annum,
:edcemable at the pleasure of the
Government. This stock, the bank
was to have the right to sell for gold
and silver coin or bullion. but not tC
sell more than $2,OOO,OOO thereof in
any one year. Subscriptions by in.
slividuals, corporations or states were
to he payable one-four:h in goYd OF
silver coin, and tllree-fourths in the
funded debt of the United States. O,
in coin, to be paid in three install
ments: 30 per cent. Mt the time o.
twelve months.
The notes of the bank. payable or
demand. were to be received in al
payments to the United States. Nc
note was to be issued Of less than IS
No other bank was to be established
by the authority of the United State.
during the continuance of the corpo
ration, except in the District of Col
umbia. with an aggregate capital no
to exceed S6.OOO,UUO In consideration
of the exclusive privilege conferred OF
the corporation by the act. it was 4
pay TO the United States a bonus 0
81. 500,oO in three equal payments n,
the expiration of two, three and fou
years.
The Government subscription o
:. 100000 authorized by the act Wa
made in stock. bearing an interest of
per cent. redeemable at pleasure
while the remainder of the stock O
the bank was eagerly taken by priva.
parties. and the bank Went into oper
alton January !. 1917.
In 1897 and 1888. tle stock of Tia
bank belonging to the nation wa
nearly ali sold at heavy premium
and the proceeds paid into the Unite
States Treasury.
As u financial operation on the par
| of the Government it nro,ed q success.
resulting as follows:
| Received As bonus g Ism Co1
! Received rom dividends. ...-. 80. LIS. lio.
| Received sale OF bank stock .-.... a.A.3 $50
! TotAl......... slS Cas-, l6..