The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1913-01-30

each, total. $14,0O0O0O. employing 1872
men each; total, 1892 men. working
300 days per year, to produce l,6S0,-
100000 brick to build 1000 miles of
eighteen foot road per year. for the
next twenty years. to complete the
| good market road system of Ohio.
This would cost the state by produc.
ing the brick under this plan $lIl .0SS,
200 against $513 2G4, 600 under the pres.
ent contract plan. Il saving of S342. l76.-
400 on brick alone on 81 900 miles of
| road.
Last, but not least. by increasing the
| bond limit to $500, 100000 at the end
of the sixth year and TO 100000, 900 at
the end of the twelfth year the taXpay.
ers would be saving the per cent in
tercst per annum upon the total ex-
penditures for the $1,000 miles of road,
the bonds averaging twenty-five years
to run, which would amount to a saw
ing in interest alone of $371 100000 by
the time the bonds are matured and
paid. The total saving to the taxpay-
erS of Ohio alone in improving the 81,
900 miles Of unimproved roads will
amount to $7S1 100000 the roads cost
ing under this system, including inter-
est at onehalf of per cent per an
mum, S433,5S0,000, besides furnish brick
at 50 per thousand instead of SlJ,
Bridge and structural materials, sewer
pipe, gravel, stone. sand and cement
to the state, counties. townships, mu-
inequalities, towns and villages at cost.
Whereas if we continue Under the pres
ent system of paying ~ per cent in
tereSt on bonds for twenty-five years
and letting out our roads to contractors
in the end they will cost the taXpay.
ers $l,2l5,OOO,G00 in principal and |
$3Tl .420,0C0 in interest.
This the Entering Wedqe.
The foregoing statements are worthy |
the thoughtful and serious conSidera.
ton and deIiheration of every citizen |
Of Ohio rs well as of other states /
When you give this serious thought |
you will be amazed ut the results aud |
not surprised at the banking interests
of the country always taking such an
active interest in favOring 4 to per
cent interest bonds issued for various
public improvements. so that they can
get rake-Of in interest and then i'll
stead of paying the principal at ma
turity refunding the bonds. If the
people of Ohio will only awaken from
the Slunber they have been in since
the civil war of 81 to 90 they vii!
send for. circulate and sign the peti.
tiOnS for this amendment to the con /
StitutiOn of their state and vote to |
adopt it at the general election of 1913
and utilize their own credit under this
amendment, which will be the enter,
ing wedge to force congress to enact
the CoXey noninterest bond bill of the
Fifty third congress. second session. H.
r. 74G3, June 10, 1894. into law, so that
The states and their subdivisions may
deposit their noninterest bonds with {
he secretary of the treasury and OBJ
ain legal tender money at cost for all
heir public improvements, the same as
hey receive postage stamps at cost,
md be put upon the same plane as r
banks.
Questions to Think About. {
If the government can create money and g,
urnish it to the banks al cost, which has I
,een our federal system ever since 1865 as
veil as paying the banks interest upon
he federal bonds deposited as collateral
or Of nd ho |
,onds from taxation, then why not the /
government create money and furnish it
o the people at cost, allowing them to de- | Y
osit as collateral their noninterest bear
ng bonds of the states, counties, town | L
hips and municipalities for all their pub
c improvements? r
Why pay interest to the banks for what |
ou yourself create through the fedora! q
Now that the federal bonds are being ,
aid off, the banks are running out of q
Oundation material for circulation: there
ore in order to enlarge the foundation so | II
s to increase the volume of currency to
leet the expansion of trade through the | n
currency bill they have includ-
in the collateral foundation to be de- /,
osited, state, county, municipal land 9TH "
r bonds bearing interest" acceptable to
ne secretary of the treasury, which Is O
leant for railroad bonds, then why not
le government create money and fur | =,
ish 1t to the people at cost, allowing them W
} deposit as collateral their noninterest |
caring bonds of the states counties, r.
'wnships and municipalities for all of
ieir public improvements? O'
Why issue $3000OO,000 Panama canal
onds bearing interest, nontaXabe, sell | O.
lem to banks for which you have created
oney at cost and borrow your own -,
oney" and pay the banks interest for the
SO of your own money? And then allow
le banks to deposit these bonds as COL Il
teral with the secretary of the treas
~, when he will issue the face value OF 81
lem in money at cost, so they can loan
out at interest or else buy more interest r.
caring bonds and deposit them with the "
cretary of the treasury for more money,
cost, and thus keep up the endless chain VI
receiving interest for the collateral de-
,sited for currency, which collateral ri
lys no taxes, and receiving interest upon
q currency issued, which makes 1t a VI
'uble headed arrangement for the banks y"
Why not issue money at cost for all fed
al and internal Improvements instead of pl
terest bearing bonds?
hacek. d. 6@Cen m