The Roanoke times. (Roanoke, Va.) 1897-1977, 1897-08-24
May FUND
PENSION Debt.
To Lay the Plan Before the Grand
Army Reunion.
A NOVEL PROPOSITION TO PAY
THE OLD SOLDIERS THEIR
CLAIMS IN FULL-A PLAN
WHICH HAS MUCH TO COMMEND
IT WOULD SAVE THE GOVERN.
MENT MUCH MONEY AND BENE-
FIT THE RECIPIENTS.

Kentucky, who was discharged from the
office of supervising architect of the Trea.
sury by Secretary Carlisle, on account of
his participation in the free silver cam
pagn OF the..Democats last year, left last
night for Buffalo, where he intends to
introduce among the Grand Army men IL
plan to convert the pension debt into
currency and pay each pensioner in
lump sum instead of drihbling It out in
small bits over Il more or less long pc riod
of years. President Mckinley will he at
this encampment and it lis peculiarly fit
ting chat vhe national encam pment of the
Grand Amy of the Republic should he
the birthplace of this new political issue,
an issue in favor uf which the arguments
are many and to combat which the Re-
publicans will find themselves hard
pressed.
After presenting tie schsme fully
among the old soldiers at Buffalo, it will
be taken to Ohio, where the idea will be
agitated and become, it is expected by it's
authors, a prominent factor in the cam
paign The authors of this plan of pay
ing the pension debt and ut the same
time expanding the currency are most
sanguine in their expectations, and claim
that in Ohio alone, the home of more
veterans of the war, perhaps, than any
other single State, the scheme will have
an effect on between 200 and rs, 900
votes. 1t is not intended.to supplant free
silver activity, but it is to be subordinate
anu supplemental to the great issue. 1t
is only one of the rein forcements of sill
yer to he brought into the ser, ice of the
general cause during the next four years.
Senator Jones, of Arkansas. chair man
of the Democratic national committee,
regards it as an Important STEP and one
that will cause Republicans to do some
very hand thinking, but at the same time
he does not come out openly and lend his
approval or countenance 1t as legiti-
mate mode of political warfare. On the
other hand, Senator Stewart more impul-
ulsive and enthusiastic, has furnished
the sinews of war to agitate the scheme,
and looks upon 1t to influence quite
largely the old soldier vote in behalf of
free silver.
The scheme contemplates the CONVEX
sion of the pension debt of the United
States, us has been suggested, into Il cur
rency for the pensioners and the people,
the plan being, first, to pay our pension
debt in the easiest, most honorable, and
best possible manner; second, to give
every pensioner an opportunity TO be Il
self-supporting capitalist, instead of IL
dependent attendant, and, third, to meet
the imperative and irresponsible demand
for more money, and thus TO aid i'll pre-
serving the welfare Of the American pco
pie and the civilization of mankind, both
of which, the authors of the plan say are
now threatened by financial contraction.
The country's debt to it's pensioners is
about So. 900, 900, 900, though constantly
growing less. 1t is claimed that this
vast obligation can be discharged by sim
ply turning it into IL monetary nipple
ment, and yet every pensioner, taxpayer
and citizen can be immeasurably benefit
ell by the change
1t is claimed by statesmen to whom the
proposition has been unfoldeH that the
idea of converting the pension debt into
an instrument of exchange, of financial
relief, and of wealth producing vigor is
certainly worthy of the widest and most
serious attention that can he given it; to
say nothing of the lifting by this propo-
sition of Il vast public burden from tax
payers by encouraging, elevatng and en-
riching the old soldiers of q grateful re-
public.
Mr.. John Orme Cole, who is the author
ofsthe plan, would pay off the pension
debt once AMI for good, and would, in
substance, issue two billions of green
backs with which to do it. This, with the
stolen mint rights of silver restored,
would bless the land with instant pros
perity. Mr.. Cole, while believing that
this pension Issue should be full legal ten
der money, provides for ut least the pos
sibility of coin redemption fer hundred
million annually during the first eight
years, leaving in circulation at the end
of that time twelve hundred r1illiors Of
dollars, and would then relegate the
whole matter to Congress and the people.
KQIiQV1nn n rato it,r ifrhf in
main, and sure of it's Immediate beneiac-
tons, Mr.. Cole feels that the object les
son of revived good time 8 would inevita-
bly, lead Congress and the people to ascer
tain and establish financial justice and
good sense, whatever it may be.
Discussing the effects Of this proposed
expansion of the currency, Mr.. Cole says
it would set every hand, every pillow, every
drill and spindle at work in the produc-
tion of wealth, sufficient fer honest dis
trlbution and healthful consumption.
it would restore prices, stop fail
ures, extinguish beggars ana dis
pose of tramps. 1t would, he
says, set up our pensioners through
out the land on modest farms, in busy
stores an shops and with innumerabe
business outfits. These new investments
in all kinds Of property would increase
us Naiue,dHu through tne rise OF INTEREST
would even furnish larger annuities than
now to such over prudent pensioners AS
might desire no other Improvement in
their circumstances.
Mr.. Cole contends that the amount
each pensoner will receive under the
present system during the remainder of
his life and the total amount of the
Governments pension obligation can be
determined annrny FOL op6 Jeff