The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1896-11-24

Thus the people with GneIr savings uAu
what ''capital" twice refused to do. 1t
is also interesting to note that the
bonds were payable Gin lawful money
of the United States" This is the way
that blanks for mortgages read, and
very properly. Every debt. both pub
lie and private, should be payable lin
lawful money of the United States" ]
! once went to the Treasury in Washing
! ton to examine the phraseology of the
various National loans. No specif,a
ton of gold or silver" Or "coin" Of
the standard value on a specified date,
appeared until the refUndlDg opera
lion, beginning about twenty Yeas
ago. l think the 80 year bonds issued
in 1877 were the first. All previous
bonds were payable in dollars, OF
lawful money"
Now, the point is, why should "cop
ital" be given a high rate Of interest
and ''coin" OF ''gold" payment When
the people are ready with their savings
TO accept a lower interest, and are
patriotic enough to purchase bonds
payable I'm lawful money Of the
Unoted S6ates?' A certain prominent
statesman has made a wide reputation
as a great fnancier" by giving capital
these advantages. France, after her
last disastrous war, placed q very large
loan in small amounts among her own
people. But cur statesman court for
eign investors. The result ls that the
Interest now going from as to these
foreign investors Is q heavy drain. II
payable Go own people, IL pres
peri0y would NOS be disturbed; also
lawful money Of the United States" ie
good enough for the common people,
while capitalists want something gilt
edged" and the mar th65 gives it to
them is a great ~1naDcier." Is it not
time that ''capitalists' were allowed to
take care Of themselves, and our af-
fairs be managed from the standpoint
of the common goods Our bonds are
issued TO syndicates Of c~apita!its at the
terms that they dictate. They should
be issued on the Philadelphia plan, at
the lowest possible interest that will
command par for the bonds and pay
able IN lawful money of the United
States" They should not be issued
from the Treasury and sub Treasures
only, bus every pOstCmce in the coun
try should have them for sale, so that
they would be in easy reach of every
citizen desiring them. Think of this
when the next issue of bonds is made.
Tank Of this in connection with postal
savings banks, which we so much de
sire.
Doctors are willing to accept any |
kind Of money that is offered them
sometimes they have to take their pay
in cord wood and potatoes, cut the cap
italist must have gold, gold, gold. Is
IL fai12 Is it just that those who, with
hands Or brains create wealth, should
live as besT they can, while "'capital" ;
gets all the pudoing7 e it not time We |
we're p assing the pudding to ourselves !
and others who do the real work OF the
world7 /
That our courts have generally been ]
under the influence or control Of cap !
ital, needs no proof to an observing !
man. But here is one ray which we
hope b6tokens the sunrise Of justice. !
Let Ii welcome it. The legislature OF
Ohio granted the sinking fund trustees !
OF Cincinnati the right to issue bonds
payable l n gold coin. The circuit court
decided that no State Legislature has
the right under federal laws to make
bonds payable in anything except the
legal tender money OF the nation. The /
Supreme court Of Oaio sustained this
decision. This is very crafty ing. It
Is inst. Il our SO calltd statesmen we're
n00 80 anxious 10 pander to foreign
capital and Influence, our National
loans could be placed among our own
peopio, payable in no specified sub.
stance, but in lawful mrney of the
United States De. Q. F. Taylor IL
The Medical World.
ALLIANCE RESOLUTIONS,