The star-progress. (Opelousas, La.) 1917-1921, 1921-03-16

mits the charging Of interest on mon
ey they inherit and are burd3ped with
a tax which all the combined Toll of
all their lives cannot pay, nor vet the
toll of their children, and grand-chil-
dren yet to come. Can any ane be-
ing even hope that this situation can
continue indefinitely? viii not this
system. if sought to be Indefinitely
continued, bring about not only its
own destruction, but also the dissOlu-
ton of present day civilization? Is
not the seeking to continue it the
same, as killing the goose that lays
the golden egg" Are we not, in our
great wisdom and advancement. sage
enough to heed the lesson to be
drawn from what people did with an
other aristocracy which for years had
ruled their lives?
Bonds. issued less than four years
ago by the government of the United
States, the richest. youngest, most
puissant power in the world. for the
payments of which its untold wealth,
and sacred honor is pledged, are held
to be not worth dollar for : dollar.
Why? Simply because the rate of in
terest which they bear does not sat
isy the greed of this new ariStOcracy.
Products of the toll of men. chiefly
the raw products of the farm, encum-
Der local warehouses and domestic
and foreign ports. Why? Because the
medium of exchange and representa-
tive of value, is not available, having
become more valuable as reprOducer
Of itself European countries, hereto
fore trading with US, can not do so.
because they have no available mon
ey. They have fortunes, in interest
to pay. Even now. il is being SER
iously debated whether it would not be
to the interest of the United States to
cancel the debt owed by England.
France, Italy, and Belgium; because
these can only pay with products, not
with money. and we already have more
products than we can dispose of above
their costs of production. Yet, mil.
lions OF our own population are bare
l1 sheltered, gunger and go half clad.
Taxation has increased almost TO
the point OF Confiscation, and it must
continue to increase If the Nav Of
this new Aristocracy must continue
to be fed. In this connection. it would
be worth every effort to determine
what percentage of taxes people pay,
goes to satisfy interest These facts
and principles apply also to indivi-
dual interest bearing debts.
Remedial
There should be action taken, al
once, by the states and nations. LIST
ealing halt on the issuance of inter
est bearing public bonds and obliga-
tons; and End. Establishing a low
rate of interest, with provision OF ef-
fectiYe penalties for violation. with
view OF gradually eliminating it en-
| tirely.
The United States Is the leading
nation of the world to-day. 1t has
been a haven for all who suffered and
were oppressed. It's destiny is unful.
filled. 1t may, by timely action save
the worlds civilization. Louisiana, a
sovereign common wealth. part Of this
great nation, must take part. 1t has
| just assembled a Constitutional Con
ventiOn. let action be started there.
BY Mr.. F. H. Phillips,
Resolution
Whereas, it appears that interest
ON money is the heaviest burden the
/ people bear; and
Whereas, the United States oil
! America, can exercise, by reason Oi
its prominence among the civiliza
ed nations Of the world, the greatest
| influence towards the welfare of hu
manity. and permanency of the pre-
sent day civilization;
Be il resolved, by the police jury o.
the parish of ST. Landry in regular ses
sion convened, that the president, anc