The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1896-10-27

form. It wes adopted by the Province
1900 600 in treasury notes were lssueo-
They we're loaned to the people at 4 per
cont interest for q term Of years on
mortgages Of Iand-the land exclusive
~ announcements to be worth not less
than twic3 as much as b money
loaned. No person could borrow o
than $500. It vas to be paid IN install
mgnts. The system worked admirably
the Province prospecting greatly dur
ing fifty years, when it was abolished
nv act of Parliament. In 1891 our gov
chartered the u. s. bank to
run for twenty years. The govern.
ment owned a majority Of the stock
It's notes were redeem8ble in coin, but
fortunately they acre receivable for all
public dues, and this prevented them
from depreciating when the bank could
not redeem them. The government IN
1861 Issued $50, 600, 900 in treasury notes
known as demand notes because re-
deemable in coin on demand. Shortly
OIL OT "hINS JllC SOFCAA 4LLAO44V w
redeem them. They at once began to
decline in value. The Secretary of the
Treasury issued an order making them
receivable for all dues to the govern
ment, including import dues. They at
once advanced TO par and remained
there during the war and ever after
wards.
A SPECIAL REQUEST.
wish to make a statement, which if
Incorrect I hope some n will be go
kind as to correct. / do not know Of
an instance in history in which the
government, we'll established in au
thority of ample resources, and with
power to tax its subjects, issued treas
ury notes receivable for all public
dues and had them go below par. IT
this is true What better money do aUe
need?
THE FINANCIAL PLAN
OF the Peoples party is to adopt in the
main the system elaborated by Frank
lin and that worked so admirably in
Pennsylvania.
BUT HOW AVOID INITIATION
under such a system7 Lst a board of
statieticians be appointed who shall
keep g careful record Of the prices Of a
large number Of articles in constant
use. II they are found advancing
above a normal level, curtgil the circu
lation If declining, Increase it. This
will preserve the equality Of contr Gets
matter OF the greatest Importance. 1t
has been ru,hles3iy violated for the
last thirty years in this country.
THE OTHER GIANT MONOPOLY.
Whilst the monopoly of money has
been steadily developing since the es-
tablishman5 Of cur government, the
monopoly Of transportation has sprung
into power within a comparatively
short period King Cornelius, the first of
the house of Vanderbilt, was one Of the
first to see the immense advantage for
accumulation this revolution in trans
p~ortatlOn afforded. So soon az he w6s
securely established on his throne, he
issued edict to his euoOrdicates to
charge ali the traffic will bear"-that
is, tax my subjects to a bare living and
q moderate margin OVe to encourage
them to continue to work SO that the
streams of wealth may be poured into
my Golfers. In q comparatively short
space Of time he accumulated the enOr-
NOUS sun OF $50. 600, 900. He was auc
ceeded by his son, MILAN. the 1st, who
might we'll be called the conqueror.
With his great intellect-his great
genius, in fac5-greatly extended his
dominions, and by adhering to the
motto,
On THE PEOPLE,
accumulated 5000, 600. 600. My coun-
trymen do we realize what this means?
It approaches in amount the assessed
value Of all the property in u State.
It is equal to 500, 900 homes worth $4OG
each. CAnsuch things be, and Overcome
us like a summers cloud and cot ex
cite our special wonder9" Have any
of the good people of Ashaville and
vicinity had this summers cloud of OBJ
scure the light7 Ny friends, the light
will ere long break in and then there
will be special wonder-wonder that
our people, such lovers of liberty ard
justice, has long and SO patiently bore
the yoke of oppression.
There have been many enormous
millionaire fortunes accumulated by