The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1899-09-26
THE THINKERS.
INTEREST.

O6 CAS6ECN NY BOWS @"O N8O& ~ WA
rows money at interest must not only
stand the total loss by consumption, or
the partial loss by wear and use, OF the
wealth purchased with the money, re
turning therefor an equal q lantity OF
new wealth, but he must also part
with an additional quantity annually
of the products Of his labor, for the use
OF the wealth that he must return I'M
used. Thus the borrower stores for
the lender his perishable goods, wares
and commodities fOs a term of years,
preserves them from rot and rust and
the wear OF TINA, and pays an annual
tribute for the privilege OF doing 60"
No philosopher ever wrote greater
truths than these, OF expressed them
in better language; and we do not won
der that the article is finding a place
in so many thoCs 3ndss Of u ex-
changes, where it's sentiments will g
ceive thoughtful consideration by
many millions of the people.
Again Mr.. Ward says:
"Money ia iner6 and reproductive
and creates no wealth. ALI wealth is
proGuced by lsbor. Interest gives to
the owners OF non. productive money
an annual portion of the wages right
fully belonging to the producing work
ers. Men who have large sums of
money at interest, simply OWn a num-
Der of laborers who must labor to
amass wealth for him who thus has
his, money loaned out. The savings de
posits of the people, which is the fund
for sickness, old age and other contin
gencies, should be taken car Of in
banks owned and operated by the
G. }vernmeDt, which should guarantee
their sure return and loan them to
borrowers at a rate Of interest barely
sum ,ient to pay the expenses OF the
banking system, thus destroy ing usury
or interest, accursed of God and the
curse Of humanity"
There is the whole sum and sub
stance, the philosophy and justice, OF
the proposed system Of Postal Savings
Banks, expressed in clean cut, concise
language that he who runs a read
and understand. We shall not attempt
to add a single word to the argument,
because no living man a make it
clearer or more forcible. But we do
want our readers to preserve this
article, and study it, and talk about it
to their neighbors and friends-and
thus start the ball to rolling. II we
expect good to come we must act as
we'll as read and think and vi must
send men to the Legislatures and to
Congress who are filed and saturated
with a J lfersonian spirit of justics and
fairness to men Of all conditions, so
that practical action may come eo0n.
The people must demand the right to
issue and use their own money, the ia,
terest accruing to the public instead of
a few favored individuals; and they
must not only demand, but act, SO that
their wishes will materializ9 into law.
But please do not misunderstood us.
We make no war on capital. The rich
man ia entitled to the full use and
benefit of every dollar that he has
honestly earned or accumulated, and
we would fight for his rights as quick
~ and as earnestly as we would for
those of the poor man. But neither
the rich nor the poor should be per
mitted to enjoy unfair advantages
over the other. G. ID created men and
put them here on an equal footing
More than this, He created Man in His
own image, and when we wrong Man
we commit an outrage on the person
ality of God. We fly in the face of
the Creator, and whether He resents
the wrong here OF not, He most as
suredIy will in a future state. No man
can escape the wrong that he does to
his fellowmen. Interest or ''reots" for
the Use of the public's medium Of Cir
culation, and the profits arising from
the ownership and operation of public
utilities, will pay all the expenses of
the Government, support all our
schools, build aud sustain all our hos
pitfalls and elleemosynRry institutions,
reduce labor to a maximum of eight
hours per day, and create and sustain
a thousand new comforts and blessings
for the people not even dreamed of at
the present time. And this system
will forever do away with the occupa
ton of the tax gatherer. Il will also
relieve woma OF the burden that now
rests upon ner; it will take her Out OF
the factory and the workshop, and put
her in the Home, as @ leen of Love,
uhono oho ho1onna T. UVs11 o~oAlo /