The advocate., 1895-06-12
A HOPEFUL INDICATION.
OOnttMaled fr0m pdQ0 ).


All our bonded debt would be circulating
currency IL ID were not for the interest.
PlncS an interest upon postage stamps and
Ahey would be taken from service channels
Mnd looked up for the interest just % the
bunds axe. Would it not be q fine thing Il
the 500 million dollar 'seEViOe currency"
could take the place Of an equal amount Of
interest. bearing bondsP How nice IL would
bo IL the coming deficit in the treasury,
now expected TO DO about so million dol
Lars, could be made up by an issue Of bhiS
''seEviCe" CurEenOy-As good as gold OK
anything else under heaven, "WheEe
would gold and silver beP" They viii al
ways be used as money by barbariO peoples,
bus With US they would become OOmmodi-
tles, just like diamonds, lead, wheat OF cot
ton. But Of whatever kind, LET US have q
larger currency.
Money is the blood Of commerce; values
and obligations are expressed in it; the.e-
lore, IL should have special Safeguards
throwa Rrcund IL. ID should not be subject
20 control or manipulation By private par
ties or combinations. The reasons are OBJ
vious-bhey have been painfully obvious
during the past two years. The banks
have contracted credit, refused payment Of
currency, and collapsed entirely in many
cases, 10 the great loss Of depositors; while
sueoulabors have raided the treasury FOX
gold, and the government has increased the
interest bearing indebtedness for more gold
until IL was seen that the people would per-
mis- no more Of IT, Then contract" or
agreement" was entered into, by which
this process Of gold depletion and issuing
Of bonds was temporarily stopped. E1joy
Che thought that our temporary bust
ness improvement is by the gracious
permission Of a few gold PpeCulatorS!
II we had government banks all ever
Che country, the deposits Of the peo
pIe would be q source OF financial strength
70 The treasury instead Of TO the banks. The
New York banks were buEdened by an
ANONYMOUS surplus while the treasury was
depleted. Isn't il strange how things are
allowed to gO2 Yet We are TO blame IL we
don't try TO change the lava. We vote for
marty, and those that we elect are busy
ksspinR themselves and their friends in
Office; and 30 between the two, we, the
electors, and they, the elected, the prlnOi-
plos and science Of government are scarcely
Thought Of. Ib is little wonder that things
gst into such tangle, and schsmeEs can
nst such advantages.
Every advanced civilized country, except
ours, has government savings banks. Such
AZ, arrsnRement is at OF 90 strength 10 the
government and q security to the savings Of
ths people, but we haVen'G got ii. We spend
zoo much time pulling the eagles tail, and
boaSb of the greatest country that the sun
sbipes on"-the government Of which is
falling 90 far behind chat Of other civilized
countries. Postmaster General WRnRmRker
worked hard during his term for postal say
lnRs banks, but congress was too busy with
poliAicg, and had neither time, disposition
nor ability for statesmRnship--or shall we
conclude that the banking interests had
control Of oongressH Lobbyists know well
how 70 smother or cripple bills In commit
teo; Ahat iS generally easier than defeating
q bill on the aoor.
Private or corporation telegrAphs exist
only in the following countries: Bolivia,
Cyprus, Honduras, Cuba, Hawaii and the
Unilsd Siatcsl' All the rest Of the civilized
world has government telegraphs. Even in
Euypt, few years ago, sent q telegram
lspm q station pretty well up the Nile to
Cairo for less than 10 cents. It was trans
nitted and delivered with military faith
n-a-... - ,,pov, nknaaa Wa 0an1k have