The Louisiana populist., 1895-04-26
NATCHITOCHES PARISH, NATCHITOCHES LOUISIANA FRIDA

up or the after-dark pedestrian, the
! stage coach, or The railroad train. No
more burglary or II irder for money.
8. AS no further possibility existed
OF theft for money, taxation to Keep up
large police force could soon be re-.
duced more than one-half.
g. No more losses to the people from
bank failures.
10. No more financial panics, shut
ting down business. throwing people
out of work, and bringing destitution
to the working classes.
IL. Interest reduced to one-half the
prevailing rate throughout the United
States.
II. An 'portIni,y TO alw:ys readily
borrow money if the individual has the
necessary security.
, 13. A revenue of over $500, ,000, 900
dollars per year to the government
from doing its own banking which
revenue. expended in the improvement
of roads and the providing of irriga-
tion, would give hundreds of thousands
of men employment while carrying for
ward great internal improvements
The condition of the western farmer
illustrates the situation today. He can
not borrow a dollar from a national
bank on his land. il ne needs to bor-
row money he must employ a money
broker to find the money for him. To
this broker he must pay a commission
of from to 10 per cent and full legal
interest besides. Altogether he is pay
ing so large an interest that. after he
has suffered loss from drought, grass
hoppers, and storms and pays his in
terest, he has not a cent left for i'm
provements.
With the establishment Of the gov
ernnent bank he is enabled to borrow
money at 4 per cent. He saves 5000
a year, perhaps, in interest, which in
ten years is $4,000. That means a new
house and the employment of men in
the forest in getting out the timber,
the making of brick, quarrying Of
stone. the manufacturing Of paints,
oils. glass. and hardware: the build
ing, finishing, and furnishing Of the
house; in total number from fifty to $50
men, all engaged in an employment,
new vocation, that does not compete
with anybody else.
This farmer is but one who Improves
his condition through the saving of in
terest. He is but one of tens of thou
sands who will thus give, on farms en-
ployment to hundreds of thousands of
workmen. This is but an illustration
of the improved condition that will
come to the rural districts through
the lowering of interest and the abun-
dant regular circulation of money
through the establishment of the gov
ernment bank.
But while the farmers of the coun-
try will find benefit the poorer classes
in the cities will experience even
greater relief from the burden Of in
terest.
No sooner does bank fail and start
a financial panic than business in gen.
eral shuts down and large numbers of
laboring people are discharged into
idleness. Unable to get employment
In short time they are compelled to
borrow money to supply pressing ne
cessities until the time when they can
again have work This is a terribly
trying period for those who watch |
and often vainly wait for weeks or |
before the opportunity offers
again to earn subsistence for their |
II is during this time that the chat
tel-mortgage individual gets in his
work. The poor have no protection. |
They are absolutely at the mercy of |
the men who prey upon them az vul-
lures feast upon the dead on the field |
Of battle. The man out of work must |
have money that his family may live. |
He must borrow. He has furniture, |
nearly new, perhaps, that cost, we will |
suppose, $1,000. A government ap-
praiser would mark 1t worth at forced |
sale $500. The government would lend |
$500 on that security at 4 per cent per |
annum interest. But there is no gov
bank to turn to. No bank ex
lists In the United States, certainly no
so-called national bank can be found,
where the borrower can get dollar on
his property which he wishes to give as
The private money loaner
knows this and is ready to take advan-
tage of the situation. After requiring
the borrower to pay all the expenses of
out papers he charges the vic
tim per cent per month-60 per cent
q year.
Under government banking the in
terest charge would be $12 a year;
under the present system the interest
charge to that man is $3.50 year for
the use of $500. which is secured by
new furniture that cost 1900.
or course 1t is but a little while
when the borrower, If he does not get
work, will have all his possessions
eaten up by interest His mortgage
will be foreclosed and he will have
nothing left.