Valdez daily prospector., 1913-08-28
THURSDAY, AUGUST 2S, 1913.
BONDS FOR THE PEOPLE.

Dlu you lOlC IHdl, III Illt Iolll- dexter proposition for develop- mcnt of Alaska, Uncle sam is given a chance to interest the small investor? Bonds are to be issued in denominations of S2D.
 This means that every pers"o who saves $2O a month, or q year, can become stockhOledr i'll a great national coal company. without the slightest risk of loss and with a dividend (interest: coming regularly, without fail. It is something in the way of departure, and may signify the initiative in a tremendous change in national financial policy.
 Heretofore, Uncle Sam has re- lied upon borrowing money, through bonds, from the banks and other concentrations of cap ital and even offered special in ducements to attract the loans. Under this proposed plan, Uncle goes right to the people. Since banks are creatures of Uncle's creation and subsist on the peO- ple's money, it is remarkable that he has not done this long ago, but he is fast awakening to the fact that he can do his own business better and more safely than the concerns to whom he has been relegating it.
 No bank has sounder security than United States bonds, but we have recently seen an attack on United States bonds by private capital organized in Wall street, in which valuation of certain , per cent bonds was lowered. This was possible because clique held the greater part of the bonds. They held them simply because they were issued in large denomination and only organic ations could buy them. Such things would not be possible if the bonds were held by the people at large, for, you know, bonds are merely the peoples. promise to pay, and people do not lower their own credit.
 Some municipalities--folloW- ing St. Paul's cXample--have all ready tried this plan of issuing bonds of low denomination. PeO- pie are learning that bond which all the property in com munity backs is the safest in- vestment on earth. Communities don't "buSt," nobody runs away with a community, and the di- rectors and stockholders in a community are the people them selves.
 But there is another good fea- ture about this new fpOpositiOn. It brings the people and their government closer together. The fellow with S2O United States bond is going to feel that he is a part of the United States, and he is apt to take a higher thinking part in what the United States does. It tends toward a strong CT democracy.
 Just now the country is think ing that tn" tariff and currency reform are the greatest issues, and they are, but what will these issues be when the conflict comes as to whether Uncle Sam shall or shall not continue paying the money-lOaners for doing his bus mess for him? We think wt nave seen great combinations o1 the interests to oppose progress sive legislation. Wait for the big circus. Wait for the combina- tion against Uncle Sans doing his own banking and investment business to facilitate his build ing of his canals, his irrigation works, and his railroads and steamships. Irhe line b@tweer the privileged and the masses or this issue is going to be as vis- ible to the naked eye as the Grand canyon of the Colorado, and nc easier to cross.
 Let Uncle Sam do it!"--St Do,,l noily NoyUS