Saturday news. (Watertown, S.D.) 19??-19??, 1917-01-25
Gold Coin Amounting to Over Five
Hundred Million Dollars Turned Into
Bullion in 1916, Says Mr.. Loucks

In re The Great Conspiracy of the
House OF Morgan, in part.
Prior to the 1912 campaign, the
one great political issue was the dis
elimination against agriculture in the
rate of tax. or interest, charged for
the use of that public utility called
money.
So important was it considered that
all Europe and the civilized world was
searched at great public expense to
get such information as would enable
us speedily TO solve the problem.
The two dominant parties We'd with
each other in their zeal to get and
give the information, and in promises
that. if given the mandate, they would
Immediately enact such legislation as
would place agriculture upon an equal
footing with any other business or in
dustry.
1 affirm that banking is a business
organized and operated for private
profit, and profit only.
] have proved in my look that the
prediction pledges have been shame
fully IGNORED since that election.
Worse: that the farmers have been
teiyed aad betrayed Is no other
class or industry has ever been, and
il addition have had the most daa
tefars trap sol ald baited for them
aver conceived b. she brain of man
tsJde The Internal regions, and the
arlpaign to lure the needy farmers
infa The act Is being conducted al
public e1.rensa ia the most GINNING
and efacien{ manner.
To this trap wish briefly to call
ateatian. Far uroaF sae Bage IT'S.
would not fnr q moment inslnuate
tha the dis. jnEuisled members or
tho Feredal Farm Loan Board are ig.I
norant OF te provisions Of the law
| can hardly Believe that they fully
realize the IIil intent of the conspir-
at0gs. nor that the trap has such
wicked laws. nor that they are the
serVants OF the House OF Morgan in
diasGise that they may the better de4
sefve aad lara fha farmers into the
ret.
The last paragraph Of Section u of
the Act reads: Funds transmitted
10 farm land associations by Federal
Land Banks to be loaned to it's mem
bers shall be current funds or farm
loan bonds, at the option OF the Dor
rover"
Now, what do current funds con
/ sist Of? GOLD COIN? No, gold coin
is practically out of circulation (see
page 500, and not even lawful money
(sea pages 81, 80, 11S, 240).
Current funds can only mean the
currency in actual circulation among
the people, and, as | have clearly
/ shown. our currency, current funds"
is a sham pretence for money that
| would not be tolerated in a commun-
ity OF vac il darkest Africa
lThey would at least insist that a rep
resentative of their would be
as good as he none represented.
1t may, and probably will be, claim
ed that the borrower has an option to
take farm loan bonds. True: but
if he accepts of the bonds he must
sell them on the market for the same
sham Current funds: a currency
that win not pay his obligation when
Shylock demands payment according
to the contract. for the proof of
which we will pass on to Section %
lin The original hill If was Section 2S
and 81 ouoted nv me).
aWhenever any farm loan bonds or
]connons or interest nayments Of such
bonds. are due under their terms,
they shall he nagable At the land hank
nv which tbav wera iss,,ed in gold or
,awfnI MONEY
Gould anvthinp he nlainar9 Was
that aiokara nlaced there Nv acct.
dent. or designg
+ haua shasun ,.aas 90 az 1o,,
gold & being ranidlv retired and orr
eold 20 niaIg a~amnnaiized
Soio ldRIniy