The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1900-05-25


1900 mine Observation-Disclosures. Ss2.sel. $50 IS
Total .........-.-.......-......s lfio''SS'-'' o.
This is alarming, and when we con-
slider that the total amount OF these
expenditures. wrung from the people
by taxation. exceeds by several hun
bred millions the total amount OF the
balance Of trade in our favor for the
same period of time. IL is easy TO un-
derstand why that balance OF trade
has not benefited us financially why
we are compelled to resort TO credit
money, and why the creation OF
money or its simulacrum has been
turned over to the banks 10 provide
us with medium of exchange suf-
ficent TO carry on any business at all,
Hon. Marriott Brosius, a republican
member Of congress from Pcnnsylva-
MIA. is man who looks at figures,
and SAYS figures do not lie" lie and
all his republican confreres do not see
the lies behind the figures. In a
speech in the house on May 3, he
gives some figures which are included
here and should be added TO those
set forth in the preceding paragraph
so that the reader may judge of our
deplorable financial condition. lie
says: 1.-The refunding provisions OF
the law are working out an achieve.
ment in finances without parallel
in the history of the world" and he
submits the following official state.
ment:
Amount Saving Premium Net
refunded. in int. paid. saving
1905 So. 200 s5.oSo.iI5 ssie5.5s7 sl,cii,ses
1901 los, 7sl 700 22.9sS. se9 1s5e2,scs 4a7s.ss
1894 ao.2seSo 4.G9.sn 4ois,s7s 572,ss'
500. oeo 80 So 500. 2e5 sa6osi7.i Sc. 66i. 45i
! Mr.. Brosius is as near correct as ii
is possible for an able financler be.
longing 10 the republican party ia
be. which nearness to the truth con.
sists in getting as far away from il
as possible.
There is not only not a saving in
the above official transaction. but q
dead loss Of SIS. i39.- 6l. and here are
the figures 10 demonstrate il.
Two hundred and sixty million
twenty thousand and seven hundred
and fifty dollars TO run until 100!
(say ten years. at an average inter
est OF four per cent. per annum. would
demand in interest $4,000. AGO
But this principal has been convert
ed into 2O-year bonds bearing two pei
cent. interest. A total interest for the
80 years amounting TO S156.012.4J0
To this add the premium paid, 500
O34..1l. and we have grand total
| Of sfs2 .C41.221. Subtracting the S93
COZ, 400 interest Cancelled on the re
funded principal. and we have tota
net dead loss of SIS ,439,.6l. or S2,941,
992 per annum.
Taking the entire national debt al
refunded. and including about $50.
100000 in premiums paid to bond hold
ers. and we have a total dead loss
or robbery of the people. by thi,
"unpa ralleled achievement in finance,
amounting 10 $i60, 100000. or five ant
one-third millions of dollars annually
II is not necessary TO indicate wh'
receives the benefit of this publ,
plumber.
We are in the curious position o.
a man afraid to pay his debts lest III
force himself into bankruptcy and dis
turb the financial cordtion Of hi
creditors. Nobody but an able finan
cier. devoted heart and soul to th'
Mckinley problem Of government
could ever imagine such paradox
Yet ii is true. The issue Of the ma
tional banks is based upon the publi'
bonds, and il they are withdrawn
there is nothing upon which to res
national bank notes. and they als'
would have to be withdrawn from cir
culation. which would deprive Thu
country OF the necessary medium o
exchange TO transact its business, an,
would also deprive the banks. com
bnes and money lenders of the dou
BILE interest which they are now re
ceiving. When the matter is care
fully thought over il will appear tina
the money question. instead of bein,
dead. is more alive than ever befor'
in the history of the country.
|
The Hanna scheme.