The Louisiana populist. [volume] (Natchitoches, Natchitoches Parish, La.) 1894-1898, 1895-03-08
TRUEPOPCLgsT DOCTRINE
How the Railroad. Freight. and
Interest Questions Should Be set
tied.
Editor EoncOnformist.

Editor NOnconformist.
In the NoncOnfOrmiSt of January
81, under the title of .'COnference
Comments" Mr.. Geo. +. Washburn,
of Boston, Mass, gave in his inter,
of the Omaha platform on
the currency question as follows:
First, we are prepared to meet
the emergency which exists and
whether the government
shall issue the money of the people,
or delegate that power to private
corporations for private profit"
SECOND, our platform calls for
an increased national currency that
shall he safe, sound and flexible
aud a iull legal tender for all debts
public and private.r
Third for the unlimited coinage
and issue Of gold and silver at the
ratio Of Is to l."
''FcuIth. for the establishment
OF postal savings banks by the
government"
The reader will observe that in
the above enumeration of the prin-
cipIes Of the Omaha platform on
the money question. Mr., Wash
burn leaves ont the principle of
government loans direct to the
people at 2 per cent year. But
he says: "AnOther plank might
be added calling for law regulat-
ing usury or excessive interest"
If Mr.. WaShburn will interview
the bakers OF tie west, he will
learn that ia th2.rOpini0n, the ouly
thing that can regulate or decrease
the rate ct interest is a competition
among money lOaners. The money
lJaneiS always have aud always
expect to be able to dodge or pre-.
vent the enforcement of the most
stringent usury laws.
When Mr., Washburn advocates
a usury law and expects it to reduce
the rates of interest, he at once
becomes the laughing. stock OF the
bankers, who in spite of usury law S
take from l! to 5 per cent a month,
according to the necessities oil
their victims.
Should the Populist party drop
out of it's platform the idea of
government loans direct to the
people at 2 per cent a year and
.dopt Mr.. Washburn's idea of a
usnry law, it would receive the
derisive sneers of the money power
ard the contempt of those who
borrow, and the bankers of the
west, at least, would laugh in their
sleeves, at the party far enough
behind the times to advocate usury
law for the purpose of reducing the
rates of interest.
1he money loaners claim that
competition will sufficiently rcgul-
ate interest rates. The railroad
corporations say all that is needed
to reduce freight rates to a proper
level is competition. In short, the
corporations that are now enSlaving
the people, all unite in recommend
ing competition as the great pan
acea for all the oppression that is
now a menace to the liberties of the
people. AT the same time the COM
bined corporations see to it that
competition does not exist. They
see to it that all laws regulating in
terest, freight charges, ETC., remain
a dead letter. The people are rap
idly coming to the conclusion that
the only way to regulate the rates
of interest and settle the currency
question in their interests, is gov
eminent leans direct to the people,
AT cost p.ice or 2 per cent a year.
The people fully realize that the
only way to settle the railroad
question, is to have the govern
ment own the roads and operate
them, as it now operates our postal
system. Govern nent competition
in loaning money would reduce in =,
terest to 2 per cent year without
the help of usury laws, and would
soon give the business wol Id cash
system. Government competition
in operating the railroads would
reduce freight, express and passen-
ger rates to cost price, without the
of that expensive corro.-
atom ornament known as the inter
state commerce commission. Gov
eminent connection is the only
power, except that of divinity, that
can effec tually and for all time
prevent the banking, railroads and
other corporations from enslaving
the people. The present leaders
of the Populist party must march
along the line laid down In the
Omaha platform, and secure to the
poopla the hanafits Of oovarnmo,<