Rogue River courier. (Grants Pass, Or.) 1886-1927, 1912-03-08
iLAN TO ISSUE BONDS
WITHOUT INTEREST

'- %" oatAH faiit91 nan AtfFlyPr4
one Of the most remarkable ideas
SET advanced 10 solve the money
brobem aud provide for public i'm
pr0yements. Scott believes that be
has evolved a proposition worthy
70 rank with the greatest Of the age
"a proposition which may yet
sweep the country Just what its
lega aspect is will yet be determin-
ed, but II It's basic principles are
sound the people will soon-he be-
lieyes regulate the laws 10 meet lis
demands Mr. ScOtts idea appeared
in the Gold Hin News Of last satur-
day and In substance is this
How the People Can Bond Them
selves without Paying Interest
Instead OF issuing s1,500.OO IN
2O-year interest bearing bonds.
meaning a total 10 pay with interest
for twenty years at 6 per cent Of 49,
100000, Mr.. scott proposes to take
advantage Of existing federal banking
laws by having the people OF Jack
son county vote non-interest bearing
bonds TO run twenty years or more,
for the total amount OF S3,30O,OOO
and deposit these bonds In the Unit
ed States treasury at Washington as
security Then take out national
bank charter In the name OF THE
Taxpayers National Bank OF Jack
son County Oregon" have the treas
ury department issue national bank
notes 10 the amount Of s3.3OO.000
which the people Of Jackson county
under the national banking laws,
would have 10 use for twenty years,
In perpetuity or as long as they
wished 20 retain their national bank
charter. For the use Of this money
their bank would have to pay moth
ing having the same privileges that
are extended TO other national
banks The people through their
bank would own the bonds them
selves, with the assessed valuation
of Jackson county at present thir-
= eight millions, and all the great
tural resources, agricultural, min
al, timber and water power, to-
, Bether with the industry. lnteli- |
gence and integrity of every good |
man and every good woman in
Jackson county, now a.d forever.
back of their bonds. making them
easily the equal OF the best money
ever minted or printed
How the Principle VIII Work In
Practice.
To show how the plan would work |
out in actual practice, according to
Scott Taking $3,30O,00O for a |
round number as the amount desired .
by the people Of Jackson or any
other county for good roads or 9TH .
err improvements IL would cost the .
people In interest alone on per
cent bonds, under the present sys-
tenn OF bonding and the system that
was proposed to the people OF Jack
son county last September. $l9S.000 .
per year Thus the people would
be, as now, the slaves OF the great
god Of money On the contrary, un-
der the plan which ! propose to the
people of Jackson county and all
other counties. the people would
D We $3,3OO,OOO In national bank
es issued ON the bonds. ON which
would pay no Interest. saving
5000 per year on this alone
N1ney that is not paid out Of the
taxpayers Bank of Jackson County
for road Improvement or other pur-
poses could be loaned to the local
banks or to others on good security
at low rate Of interest Thus there
would be saving &, The people OF
$lo>Coo year lE ntc-es that
wuull be paid uule tho olt nan.
Plus whatever interest was received
from money not used for road or
other plblic purposes, The table,
would be turned and the great mon.
e, god become the slave OF the peo.
PIE Instead of their being slaves 10
IT, AS they are now and as they
would be To Yet greater extent II
such a bond issue as was proposed In
Jackson county last tal, were put
Into operation
How the Bonds May BE Retired At
Any Time.
Under what may yet be known as
the Scott bonding system the peo-
pie at any ttme they see ht 10 retire
their bond issue may DO so in the
following manner Assuming the
amount of the issue TO have been
$g3ooOOO the people may az any
tima fnN thnmsplyas q, tha ,,ta,t ,f