Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1898-04-01
CANTON. sovrA DAKOTA. fRIoAy. ApRlL I. !,

SsSS = NDsSA - - slss} ~ - =
is the devil himself you are trying to
uncover in this your currency combat. Z
Il am determined to fight this money
deception or devil, if you will, Tommy,
no matter who may be on top, if shall
be underneath shall still fight with
such means as may be in my power"
Il am growing more interested, Bro.
Hayseed, when I left you last week you
promised to present plan for a change
in the national bsnking system, does
that suit yonr convenience now?"
Certainly, Tommy, only the change
shall propose is not SO radical as you
perhaps may expect; yon see, Tommy,
people don't take we'll to very radical
things, as Mr.. Bryan said, we shall
reach heaven by mounting the ladder
round by round"
CATER all that will be the way to
reach it sir"
q shall not propose a new plan or
any new idea at all, Tommy, merely
think we could modify the demands of
the people for a government savings
bank system so as to use the govern
ment bonds as basis for an increase
of currency"
.'Yes sir, an increase of currency was
the suggestion"
1T could be accomplished with great
advantage to the people in something
like this way, Tommy: Let there be q
government savings bank-a postal
savings bank if you will estab blished
in every county the country over, let
the deposits here received be invested
in government bonds. Here again I
would adopt Mr. Cages proposition to
drawtin the present bonds and in their
stead issue new ones at q per cent in
terest. Upon these bonds bond-notes
could be issued by loaning to the people
on unfailable security say at 4 per cent
interest. The depositor might also re-
ceive per cent interest on his deposits,
so that these banks would both receive
and pay out the same rate of interest,
for when the institution gets fairly
under way the 2a per cent interest on
the bonds will be more than sufficient
to pay expenses"
t'That looks feasible, Bro. Hayseed, it
would bring the government into the
banking business though" !"
If there is any business the govern
ment should run at all it is the banking
business, Tommy, SO far as issue is
concerned anyhow. for money is an
agency representing the sovereign
authority of the people, it is a creation
Of the people by legal decree, it should
have no value except this sovereign
decree making it acceptable in the ex-
change of commodities anywhere
within the jurisdiction of the nation.
there should be no trafHcking or specu-
lation in money, all speculation and
tribute extortion In money is swindle
upon the people"
"I think you are right about that,
Bro Hayseed. but the traffick is an old
SIN deeply rooted and hard to weed
out"
Under present conditions it is about
impossible. Tommy, besides, private
hanks are greatly commodious in busi-
ness. and private banks would con-
tinue to do business even if government
savings banks were established, but the
government banks would be great
check on extortion."
Your different suggestions taken
together. Bro. Hayseed, look as though
they would about cover all necessary
currency reform at present; one waxed
question. you have not mentioned, is the
silver coinage"
'.You will have all your desires salts
fed upon that question during the next
three years, Tommy, but if you have
the fundamental groundwork Of this
money question fairly grasped in your
mind all the sophistical eloquence that
will be presented on either side of the
silver question will not be able to turn
you astray sir. .st. 4
Gas I see it now, Bro. Hayseed, it is
the question of interest, or rather
usury, that is the point of attraction in
this controversy of money
THAT is the bone and brawn the
money dealer is fighting for, Tommy,
and if we are wise we should pick up
that bone and bury it so deep out of
sight that it would never again appear
on the surface of the earth
"You talk like an Independent fellow,
Bro. Hayseed, I find a chat with you
too. There are several
matters on my mind / would like to
turn over with you if chance come
in the future"
IF you don't think me too radical,
Tommy, it is all right, here is my hand
for shake
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