Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1898-05-20

tons to the extent of a $500 900, 00
war loan, with more to follow when tn
contractors have eaten ~ hat vas
sum. And of course the bankers o
, Wall. street are willing to buy thu
bonds, since under their manipulation
of the finance the three dollars whicl
they will receive as annual interes
upon each hundred dollar bond will
buy more labor and labor products
than ten dollars did thirty years ago
The people must try to establish
bl9ckade,agains the scheme, and they
can succeed if they will show enough
energy in unfolding the allied fret
silver senators and representatives
who are fighting it, and retiring tnost
who have connived at it. AS long as
the war lasts this bond proposition
will come up again and again, and or,
ganization in opposition to 1t should
be kept up by the Populists and theiI
free silver allies.
The alternative propositions, an In
come tax, the free coinage of silver,
and the issuance of greenbacks, will
certainly rally majority at the polls
next. November. 1--WE propose" says
Mr.. Bailey, Ito tax the rich men now
rather than mortgage the energies OF
poor men for future generations"
TO NIntnrpSt
bearing bonds,". said Thomas Jeffer-
son, ARE a robbery of posterity."
They rob the present generation, also,
to the extent that interest payments
fall due, and as the war can easily be
conducted without the payment Of a
dollar in interest it is crime to saddle
az interest burden upon the people.
" II y,
The Cleveland Recorder says:
The proper way for the govern
ment of the United States to raise
money is to issue greenbacks. There
has never been a. better plan than that
which was inveRted by Secretary Chase
in the last war. 1t is crime for the
United States government to pay in
tefest'on its loans from the people. 1t
is little less than criminal for citizens
to accept interest from the government
in times Of it's necessity. The trouble
with the whole money problem in these
latter days comes from. the bond
business in the time of the slave
holders war; The bonds were bought
at 40 cents on the dollar and were
bought with greenbacks. Now it is
insiHted that they shall be paid at par
andswith gold. Silver" is not good
enough for your shark. He must buy
with the poorest money and must have
his Shylock's pound of flesh back in
the best, money. If the government
needs money, let the printing presses
be started Let the expenses be paid
in greenbacks." =
Following are. some reflections by
"Hplt" on: the workings of, the war
bond system: '. :.
"The debts Of nations are about
thirty-five billion dollars. They are
all payable in gold alone. Their in
terest also is payable in gold alone.
1.-THE gold stock of the world is
about four billion dollars. Notwith-
standing the increased product of gold
1t is unlikely the stock will ever in
crease very much above five billions,
If so much, as it is perishable
metal, easily wasted in the handling
anu 3iias to be carefully boarded to
prevent this waste Yearly the arts
demand more of the product in waste
fulxMays. The debts of the world, es-
pecially national debts, are increasing
as never before, and without some
fearful revolution, under present
methods of administration, they must
continue to increase. If banks or in
diYiduals, had their own obligations
OUT IN the same proposition, all pay
able In gold only, and it was known
that they had but one-ninth of their
promised sum in gold, and that it
would be impossible to procure enough
gold to pay them, what would that con-
dition be called?,. Bankruptcy, total
and 'irretrievable.
But here is something worse. Ger
tatrily some of these national bonds
mtist be good for their entire princi-
pal in > the very nature of things.
Some of them like mortgages, are
older. than others. =, Some are, even
older than are several of the most
hopelessly indebted governments.
When the first, bonds were issued, the
gold was delivered for them, and that
gold has all been returned as interest.
The, owners of some of these Oldest
bonds hold all. the gold stock of the
world. They have the bonds, and
time has delivered back to them,
through usury, the gold also. They
have taken care that the gold shall
never be found in the possession of
those who own the thirty billions or so
of later bonds. Suppose an impos-
sibility. Suppose that the old bonds
of the British government should be
redeemed. Then by, "a natural process
the next best secured bonds would