The times. [volume] (Richmond, Va.) 1890-1903, 1896-09-24
THE POrULisis' sCntMts nv"


fer proposed to do FOR Us in the way OF
paper money II his party should come
into power but the records Of the FIFTY
third and Fifty-fourth Congress show
what the other Populist statesmen think
we should do also. Curious and fantastic
az they arc, they disclose the serious
purpose Of the Pcpulist party. and Also
now. Of tho Chicago party, which adopted
Populism as It's creed. The free coinage OF
silver held. OF course, its share OF at
tenton when the PopuMst statesmen OF
tho two Congresses mentioned were fash
ioning their measures through which
everybody was TO live in luxury without
work, but It is 20 be remarked that silver
was treated by them as a mere incident.
The great panacea with all Of them was
paper money. We were 10 be saved, In
their opinion. by baptism IN an ocean
Of irrodeemabie paper issues Of the Gov
ernmcnt. For Instance. Simpson the
sockless thought the Government should
purchase al the silver that was offered.
issuing certificate to the sellers al the
rate Of 81 for each 37125 grains Of pure
silver. Then the Secretary Of the Treas
ury was to coin an the gold and silver
/ in the Treasury or that might thereafter
/ b6 purchased, and to issue on the basis
of this s. in Treasury notes for each
dollar Of this coin. lie estimated by his
peculiar processes that this would turn
out a total circulation Of three thousand
millions Of dollars S3Oc0,0OOOOW.
But this was conservative finance
by tho side Of populist Kyle's
scheme that there should be pre-
pared an unlimited issue Of fractional
currency. to be paid out by any post
master TO persons applying therefor, or
that Of Representative Davis, OF Kansas,
providing for the assumption by the
United State Cf the obligations OF all de-
faulung mortgage debtors The pension
bills form a group by themselves. One
of them. introduced by Representative
Hudson. Of Kansas. proposes TO settle all
| pensions by tine payment at once to each
person now on the rolls, or That may
hereafter be placed on them, lump sum
ten times the annual amount Of such PEN
sion. The money to make these payments
vas 10 be manufactured az the printing
press. and the measure would require en-
immediate issue q Sl,J000oO.oOO Of this
sort Of money. Representative Davis pro-
with an allowance of $40 per month TO
every person who had served more than
ninety days, and going up by graduated
stages to So per month 10 all who had
served three years or more The Com
missioner Of Pensions estimated that I'M
der this bin the annual pension oppropra-
zion woula amount to s46o.o00.OOO sena-
tor Allen had also q service pension bin
calling for am expenditure Of S350Oo0.0o0
a year. and Senator PETER had a scheme
10 place every soldier. sailor and marine
en- tho pension rolls and pay them IN
curiougy shaped paper currency TO be
known and designated as service pension
money" All the money for these schemes
was to be manufactured at the printing
press.
Representative Davis set the ball roll
ing finely along with bin providing for
the enlistment as rapidly as possible Of
10000 men in an industrial volunteer
army, to De clothed. FED, and paid as the
recruits Of the regular army. This force
would cost the annual sum Of SJOO0Oo0OO.
As a further means Of providing for what
the Populist platform calls "a just, cquita-
bic. and efficient means Of distribution,
direct To the people and through tho law
ful disDursl nents Of the Government Of
the national money, Representative Boen'
Of Minnesota, proposed an issue Of $1,000
o00.oOO In legM-tender notes, OF which
NOOO0o. 600 were TO be expended Ia I'VE
years In building or purchasing railroads,
S.JJUUO.O0O fer improving rivers and har-
bors and s25OOO00oO for purchasing sites
and building post-ofces in each village or
city containing 1000 inhabitants or more.
That the States might not be behind the
General Government In the work OF inter
nal improvements Representative Clover,
Of kansas. proposed to issue legal-tender
notes to any state filing bonds with the
treasurer, Pave bic az the option Of the
state. bearing interest at . IL per cent,
and in any cum not exceeding 90 per
cent OF the assessed value OF the taxa
bic property Of the State making applica-
ton. The statesman proposed to allow
O. ties and municipalities to tap the ma
uonal Treasury 10 an amount not exceed
ing $4,000 in any one loan. Tie period
wa, fifty years and the interest y per
cent Per annum.
There were. Of course. many bii.ls relat-
me 10 the establishment CT sub.treasuries,
where farmers could get advances on their
crops and loan bureaus, where they could
borrow money on their land. OF the iat-
ter institutions Senators PETER and simp-
son tho sochess. constituted themselves
the special patrons. the bill Of the former
recurring an immediate issue Ct $7oJOO0'OJO
OF printed money. and when that was dis
uos,1 of tho balance Of the money In the
Treasury not otherwise appropriated was
10 he used from time 10 time The sub
treasury scheme was a specially with that
Mr.. l0m Watson who would be Vice