The independent. [volume] (Lincoln, Neb.) 1902-1907, 1903-12-24

the business OF the S1gner, instead Oh
in gold or silver? For instance. the
farmers due-bill will read: Good for
one dollar in farm products; the shoe
merchants or shoe manufacturers
due-bill will be good for shoes, The
Independents due-bill will be good
for subscription or advertising.
ITO bring this about we do not have
to wait for legislation or consent OF
politicians, or to get majority of the
people to understand the plan. We
have merely to modify, according to
circumstances, what is already In
practice.
Railroad tickets, street car tick
cts, tickets of admission to lecture, or
theatre, or entertainment, restaurant
meal tickets, postage stamps, etc, are
all notifications OF the same idea. :
AN organization in Cincinnati
called the Mercantile Exchange, some
thing like the Labor Exchanges scat
tered throughout the country, Is sue
cessfully putting the plan in practice,
and has been in operation for several
years.
ANY individual, or any number of
men, two or more. engaged In any
kind of misunderstanding, manufac-
turing or any other line-can form a
central organization for the issue OF
a currency good In trade and in diff
ferent denominations like money.
ITO get these In circulation, any re-
liable individual brings his own due
bills, good in his own line Of trade,
To this central organization, and re-
ceives the organizations trade checks
In exchange. Five or ten per cent, II
desired, may be left to the central Or
ganization for expenses. For instance,
the farmer brings 500 Of his own due
bills, good for farm products, to the
central organization, and receives $50
OF its trade checks. These $50 he uses
exactly as he would money, guaran-
teeing them by his own Endorsement
as he pays them out.
Now, suppose he takes S. OF these
trade checks to the shoe store and
buys shoes with them. The shoe mer-
chant indorses them, and pays his
bill at the shoe factory. The shoe fac
tory ind0rses them and pays them out
for labor. The shoe factory employees
take them to the grocery store for gro
ceries. The grocer goes to the whole
sale grocer for -four The wholesale
grocer sends them to the -four mill.
The miller sends them back to the or
ganization that issued them and calls
for wheat. This organization now
takes up the farmers due-bills and
sends them to be redeemed in wheat
for the -four mill.
There Is no fayOritism, nor interest
on money, nor stock speculation, in all
this round. Each one gets what he
wants, and pays for 1t in what he has
to sell.
The scheme is not only practical
but is in operation in Cincinnati now,
except that 1t has not reached the
farmers as yet to any great extent
will The Independent favor it, or
advice the farmers to join the cooper
alive circle? If not, why not?
"Of course, this mutual credit cur
rency will not pay taxes, but that is a
small item in prosperous business"
THE Independent certainly has not
the slightest objection to the Clncin-
natl Mercantile Exchange plan, or any
other voluntary cooperative scheme
Of the kind. But the point is that this
currency good in trade is powerless
to perform two important Offices for
man: To pay taxes and judgments.
In other words these due-bills are not
a legal tender.
The government of the United
States, and all state, county, munic-
ipal and minor governments. each re-
quire for their maintenance, not gold
and silver, but services and commod-
tiles. Why. then, should round
about method be adopted for secur-
Ing these services and commodities?
Suppose, for example. that the United
States government should issue It's
"due-bIlls" certifying that the bearer
had delivered to IL services or com
modities equal In value 10 the amount
named In the face OF each duc-bill.
make these due-bills the only thing
by which a tax levy or a judgment
could be satisfied. and should pay
them out 20 It's officers and employees
In payment OF their salaries. and 10
contractors In payment for the sup
plies they furnish-would any man