The representative. [volume] (St. Paul, Minn.) 1893-1901, 1897-01-06
Il NEW PROJECT.
RIFT wOIrVn wOpEo

Il NEW PROJECT.
BUT WOULD 1T WORK?
We have received the following let
| ter:
| Editor Representative:
Dear sir:-As simple, safe and
business-like expedient to overcome
the present financial stringency allow
me to suggest: That in each county
there be organized a Mutual Loan
and Trust Company" that these COM
panies receive mortgages, on unen.
numbered real estate, to not more
| than 80 or AZ per cent Of it's real
value; that the companies issue
mortgage Certificates" in convent
cages; and issue them without inter
| est, at the cost Of issue, whatever the
! cost may be; that the certificates be
| issued on the stipulation that 10 per
| cent Of them shall be returned yearly
until the whole are returned. when
| the mortgages shall be cancelled. All
counties should adopt an uniform
method so that anyone handling
these certificates would know exactly
what he was doing. I believe the
time will soon arrive when we will be
glad to take such circulating
medium, or anything with real value
behind it. These certificates would
not take the place Of legal tender. as
matter of course, but they would re-
lieve the strain on legal tender and
help raise prices. wonderfully. Then
let them burn up the greenbacks if
they want to. Yours very truly,
JAS. r. r. Green,
Des MOineS, Iowa.
1t is natural that, in these horrible
| conditions, mems minds should turn
to all kinds OF expedients to obtain
more instruments to effect exchanges;
but the enemy has got us by the
| throat.
II our friend issued lot Of certif-
icates, as he proposes, intending that
they should pass from hand to hand
like money, the U. S. Marshall would
come down on him and clap him into
| prison for invading the prerogatives
| of the banks Of issue. And If the
marshal did not disturb him, and his
money circulated freely within the
town or county, the pinch would come
when it was attempted to pay debt
abroad. Then he would have to rush
| to banker and get his notes for the
| certificates; and if the banker would
not make the trade, and he would not
| be likely to, for he is jealous god,
the scheme would collapse. This is
the trouble with all the proposed la
| Dor exchanges.
| The truth is there is no use of 60
| ing around the ballot box; or propos-
| ing any substitute for tue general
government. You have got to fight
it out there, whether you want to or
not. All local expedients will come
| to naught.
But you say, the people will not be
erted:-there is no hope of relief
in that direction.
Don't be too sure Of tn at. The big
gest public school that has been on
this planet, since Adam was baby, is
now in full blast; the scholars are
hungry, poor, despairing, ragged, mad
all over; but they are being educated
at rate to make your eyes hang out.
In Minnesota we have learned q
mighty sight in a few years. In 1892
DR.. Fish sold out; in 1894 Macdonald
! jackassed us out; and in 1896 S. NJ
Owen miSled US and hum plugged us
out,-for the shadow of ghost of a
piece of pie. But neither DR.. Fish.
nor Macdonald nor Owen can fool us
again. The miller cannot grind twice
with the water that has passed. And
the men Plutocracy swindled out Of
their votes in 1896 can't be cheated
again in 1898. The fluttering flags Of
despair, pendant beneath their coat
tails. will remind them Of how they
were 'played for suckers" They have
had enough.
Don't despair. God rules and the
people begin to think. There are a
great many fools but they do not con.
stitute the entire population.
Take possession of the government.
How? Work among your neighbors.
| Spread Populist literature all around
you. A little leaven leaveneth a great
mass Work as you never worked be-
fore,-for home, country and cYiliza
| tiOn,