Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1895-02-19

rives it's just power from the consent
Of the governed. Said James Mem.
Shafter at the formal opening of the
Leland Stamford Jr. University that
''There was one thing which he hoped
to see taught in this institution. He
was sorry to see embodied in our
national Constitution the sophism
that government derives it's power
from the consent Of the governed,
and hoped that the error Of this as
sertion would be impressed upon the
students"
I think it was the father of his
country who said, ''eternal vigilance
is the price of liberty" 1t was no
more so then than now. Let the
people be on the alert-be vigilant
and distrustful of all movements to
take power from the many and place
it in the hands of a few.
G. s. CHARMING.
The Moorhead Daily News of
January IA, 1895, contains
the following remarkable editor
ial, remarkable because it is the
!! cleurest demonstration Of the
principles of the Peoples party
on the money question that we
have yet seen in so few words,
and more remarkable, because it
comes from the Hon. Geo. n.
Lamphere, editor OF the Moor
head News, one OF the brightest.
bravcst and most competent
Republican editors of the north
west. Truly light is spreading
when such men as Geo. n.
Lamphere takes up the cause OF
the common people,; something
is going to drop. Shake, Bro.
Lamfhere!
GOVERNMENT LOANS.
When the idea was first advanced
that the government should loan
money to the people it found few
adhcrents, and was laughed off the
political stage. The editor OF the
News was among those who pooh
| poohed it and believed it was the
| product IF crack Drained eX trcmist.
He has changed his mind in the light
Of discussion and study and now
believes that it involves a sound and
| living principle. The thing is done
| now by intlirectiOn and the circuitOus
process rObs it Of twO-thirtis Of it's
blessings. 80 far as the mass Is con-
! ccr:,s:,! The reform that should be
| carried s,ut Is K, do it directly. in the
| same luannc: that the p;'stOftice
| i,;,Si,n%<s * sln;sn ',y t:;rH't contact
| viii: thr people.
The g<ssSs:zrnnie:,' has ,E!e monopoly
! Of crca ing money :>nN az compelling:
, citizens to surrender Il part of their
| holdings to it. Having tho sole
right to make it and to procure IT by
mandate, why should it not be a
lOaner rather than a borrower? II
an individual had the monopoly OF
making a thing that everybody else
wanted, would he not be considered
a fool or an imbecile If he should
borrow and pay a premium for so
much Of that thing as he wanted for
| his own use rather than go to work
and make it?
But how does the government loan
to citizens? 1t ISSUES money (paper)
to national banks and the banks in
! turn loan it to citizens. 1t also
places money Oh deposit with banks,
which is loaned out to citizens. In
the first case the bank is assessed a
slight tax; in the other no interest or
charge whatever is imposed upon the
banks, but the people have to pay
rom 6 to 10 per cent per annum for
use Of the money.
Take the state government instead
of the United States government.
| The funds Of the state are deposited
in the banks throughout the state,
for which per cent is paid for its
use The banks loan it to citizens at
6 to 10 per cent. What security does
the state have for the return Of it's
money? Bonds of the bank which,
often prove worthless. If by defalca-
ton, embezzlement, unsafe and in
| judicious Investments, the bank
where the state money is deposited
fails, the chance Of recovering it is
made doubtful and often the loss is
total. These deposits of publicfund
with banks are considered to be in
consonance with 4 sound public
policy, as it puts the surplus moneys
of the state in circulation and into
actual use, fulfilling the demands OF
trade and commerce, and without
which they would lie dormant and
unused and would produce contrac'
ton and stringency. Very well. So
far the argument is good. But why