The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-01-29
CALL FOR THE FoOL-K1LLER

CALL FOR THE FOOLK1LLER.
BORROWING MONEY At SO PER
CENT AND LENDING IT OUT AT
THE SAME TIME FOR PER CENT.
READ AND REFLECT.
Editor Representative:
Here is an item from one Of our county
papers that ought 70 be scattered broad
cast over the state of Minnesota by every
patriotic newspaper in the state. II reads
as follows: state Treasurer Koerner has
returned from New York with $250,00o
worth Of bonds. purchased with school
money. There are 1000 Nirginias, lit AL
abamas and 25 state bonds, the average
interest on the purchase being per cent
Contemplating the above extract 1 feel
like the fellow who was addicted to the
extreme use Of profane language. His
wagon being loaded with loose apples and
having to go up a HILL some wretch who
wanted to hear him swear loosened his
end gate; and when partly up the hill
the endgate came out and the apples
rolled ali over the hill side. Without re-
sorting to his usual profanity, he stood
contemplating the scene, when bystand
er asked. why don't you swear?" With
his heart full of indignation and with
flashing eyes he replied. II could not do
justice to the occasion" Now that is the
way | felt on seeing the above item, and
! will tell you why. According to the
state auditors report as previously stated
in The Representative, the people of this
state are taxed at the rate of IS million
dollars a year; and If they want to Dor
! row any money they must go to the banks
and pay from 10 to so per cent for the
use of it. The people of Redwood county
are paying interest on $4,000 Of railroad
| bonds at Z per cent interest and they are
due in about 2 years, when the people
| will have paid $S4, 900 interest and still
| have to pay the 1000. Yet Coxeyisnl is
sneered at by the truculent fools who FOL-
low the lead of our gold bug dailies.
| presume other counties are in the same fix
| as Redwood.
How true is the scripture which says:
| though thou shouldest bray a fool in a
mortar with a pestle among She wheat,
| yet will not his foolishness depart from
him.
A little over a year ago. this county was
bonded to the state for $13500 at 5 per
cent from this same School fund.-, to
| build a county Jail. About the same time
the state bought a half million dollars
worth of bonds in the south at about 4
| to AZ per cent. The board of county
commissioners of this county could have
| borrowed money outside this state on long
time bonds at a less rate than per cent,
but knowing that both interest and prln-
| cipal would go back into the school fund
| for the education of the children of the
| state, they periodically preferred to bor-
row the money of the state and pay back
annually a part of the principal with the
| interest and not settle a bonded debt On
| the next generation, and now here goes
$780, 600 of this same fund into other states
! al per cent. There are many. poor school
districts in this state that would be glad
to get this fund, but cannot, owing to the
| restrictions of the law. These districts are
hiring money at higher rate of interest
to build small and poorly equipped school
| houses and taxing themselves almost be-
| 10 crfy how obi
an education. District 81, in this county
had to do this before the railroad lands
were sold). It is but few years since
that our state revenue fund ran SO short
that nearly half million was borrowed 0!
the state bank at per cent. At the same
time there was an immense sum of this
school fund in these same state banks
drawing only per cent. How nice for the
bankers! Nothing to do but enter the
debit and credit and pocket the per cent
How nice too for those who pay the taxes
on property mortgaged at 10 per cent
[ ask what in Hades kind of government
have we in this state, when our laws give
the usurers legal interest of 10 per CEN
and the state is loaning the peoples money
in other states at 3 per cent! Have VIZ
nothing but knaves, ninnies, numbskulls
and nincumpoops to make our laws?
| For four years this county was repre-
sented in the state legislature by banker
with banker as governor, and we still
nave banker IN the governors chair
Our banker representative went over this
county in that campaign telling the peopl
it would be poor policy to lower the rat,
of interest as it would drive money on
of the state, and the people believed him
and sent him back to the legislature, ant
now in these hard times they are still pay
ing 10 per cent and the state loaning tn
| peoples money in other states at pc
cent. What fools these mortals ber' Coco
Lordy! See our potatoes rolling down tn
hill! The internal money-power ha
pulled out the end gate and stands grin
ming at our sorry plight. Is it not abou
time we had patriots to represent the PEG
pie in our state government, or are we s.
in the possession of the usurers that Their
is no hope for reform? Here are on
merchants failing, banks "busting" farm
ers losing their farms al mortgage sales
and all for the want of a little money
yet here is our state loaning money gather
ed up in this state, to people outside tn
state at per cent. Like the man with tn
spilled apples. words fail me to expires
my Indignation at the foolish laws whic
prevent the citizens of the state who pa
| | the taxes from using their own money
| yet ship it into other states at a MGR
nominal rate of interest.
I make motion that the fool killer b
compelled to do his duty, and clear GU
the crowd that could make such fool law.
JAMES ARNOLD.
Vesta, Redwood county, MINI.