Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1897-05-25
Official Paper of County.
OUR CANDIDATE IN 1900

IN our travels about the county we
find the Mckinley wave of prosperity
is Of the same brand as the Cleveland
wave. To bring prosperity the de-
pressions that comes from low prices
must be removed, which can only be
brought about by an increase of
money in the channels of business.
For every dollar in promises to pay"
issued by our national banks, IS cents
must be deposited in one of the re-
serve cities for its redemption, thus
accommodating in Chicago and New
York millions of dollars which be-
long to the various cities of the coun-
try, where it should remain and be
In use in legitimate business. These
are the monies that Wall Street has
to loan on call to gamblers in stocks
and bonds at per cent, or less; it is
the money that belongs to the banks
and people of the country outside of
New York. This money should be
returned to the banks which own it,
which only can be done by repeal of
the clause in the national banking
law that requires it to be deposited
there, and in addition to this, there
should be large increase in the
money of the people through the
coinage and use OF silver, at the ratio
existing from 1902 to 1878. These two
steps taken and prosperity will re-
turn to the people. Every person
knows that steamboats, can't navi-
gate streams tnat have run dry; in
time they will learn that money is as
necessary to run the business of the
people as is water for the navigation
OF rivers. The concentration of the
the money that belongs in the coun-
try in the reserve cities, gives them
power to control markets and prices
that is dangerous to every legitimate
industry because there are times
when money is an absolute necessity
In every business, the occurrence of
which enables those who control it's
supply and circulation to dictate
prices. 1t is thus they use the reserve
funds that have accumulated from re-
mote districts of the country to en-
able gamblers in the products of
fields, min6. and shops. to fix prices
that impoverish laborers. producers,
and manufacturers. To establish a
general system of national banks in
the towns and villages of the country
as advocated by leading members of
congress and by national bankers in
the reserve cities, is to still further
contract the amount of money the
people will have for use. The propo-
sition is to have banks established
with capital of $4,000 instead of
$4,000 as now required. If there is
$4,000 in town or village to invest
In the stocks of bank to be thus
created that money would go to pur
chase the required amount of bonds
as security for its circulation. If the
money would buy $4,000 in bonds,
the amount of notes that will be
Issued to to the bank would be ten
per cent. less or $25. 500; twenty five
per cent. must then be sent to one of
the reserve cities, still further re-
ducing the the sum remaining to the
town $5,625, leaving to the bank for
circulation IN its community, only
$16,875, instead of the $25, 900 in use
there when the stock subscription
began. Thus 1T will be seen that
each little hamlet establishing one of
these banks must furnish Wall Street
money sharks, $5.625 of the money
needed in its own community to be
lovned out on cali in the reserve cities
to gamblers in stocks, bonds, or, in
terested in gold purchases and ship
ments. If a bank in any small town
becomes necessity it were better
Tor those possessed of the $500 to
incorporate under state laws, retain.
ing the $25, 900 for business and loans
at home, rather than being under the
necessity of providing the reserve
city it might select with one-fourth
the SUN it is authorized to put in cir
culation.