The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-01-23

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and Italy used nfationary methods obtain debt relief
Even the Revolutionary War debt was not all paid history
books notwthssndins Millions and millions Of currency
redeemed. Hamilton could and did finance
the Revolutionary War. Civil War finance methods
based initiation, and had been for the
great untouched natural country which
then to be opened for exploitation and the sale Of
of government lands which brought in huge money
to the national treasury the finances Of the Civil War
after. might have been sorry mess
initiation proposals avoided in this plan The negotiable
certificate issued by the Bank Of North Dakota the State
Treasurer, the treasurer Of amy political unit win be
REDEEMED under this plan. It will inject relief the
bottom where is needed Of furnishing aid to rail
roads, insurance companies and huge banking corporations
at the top.
HOW IT WORKS
An illustration will make the plan clear.
Mr.. Farmer, for example, has thousand bushels of
produce pork etc. Today If he sold that wheat he
could only $3.50 What be pay with What
debt can he settle? How he pay farm loan INSTALL
ment?
Under this proposed PLAN Mr. Farmer who We will say
has loan from the Bank of North Dakota upon his farm
the $3.50 draft he received for it Bank North
Dakota 1t in turn credits him with $3.50 his loan, and
tfeates to the extent Of $780, This and his $3.50 credit
make $500 in ALL The Bank Of North Dakota cannot issue
currency because the United States Constitution prohibits
that In other words him zoe per bushel for his
wheat Under this plan he thus gets twice the
ke price He his nstament state and receives
an equivalent amount in negotiable bonds which self
lquidating, as explained below.
If he wishes to taxes he turns his wheat money
to the County Treasurer who issues him $3.50 in negotiable
present 1000 towns and cities in the United
States which issuing scrip in connection with
their unemployed.
HOW REDEEMED
The scrip plan in operation in st. Paul and other cities
involves the acceptance Of these notes by merchants and
dealers Naturally it is essential that bonds cer
iceu NV <ho Rnn nf Dalai $ho
Treasurer must be accepted Communities all the United
States using scrip finding them readily negotiable Mer
chants dealers and others in the state have indicated their
willingness accept such certificates small discount
for each transaction. This plan proposes $50 discount
each transaction SO when Mr. Farmer takes his Ger
tfcate to his merchant that merchant gladly buys the Sc
Revenue Stamp which must be attached to the certificate
gets his money, and is happy.
These stamps be purchased from the State
Treasurer each transaction involving the placing Of Sc
stamp each 81 certificate The merchant trans
acts business with garage who places &c stamp
thereon. He goes to the grocer, and 50
It requires IS transactions to redeem and automatically
quidate given amount The state obtains the money
beforehand by selling the stamps to be attached to the
tfcate When the certificate has the required IS stamps
may returned the state and the holder receives the
full value thereof In the meantime the note has performed
the functions of money-t has served Of
exchange with small service charge Uncle Sam charges
&c each check today yet checks written and used
With payments due the for taxes interest prin
cipa amounting 100000 annually, and with
thirty millions for alone due all political units it is
readily that immense amount Of farm products can
be purchased and certificates issued The parties handling
the certificate rather absorb the extra 36c
bounty per bushel paid the farmer for his wheat These
redeemabe The experience everywhere indicates their
ready acceptance.
Before this pan which may be called revolutionary and
radical by put into operation the business the
commercial clubs the banks the larger business institutions
of the state should all be invited to assist furherng the
proposal That they will quickly take is almost fore
gone conclusion The expressed sentiment Of egsa
indicates that for paying school teachers
county and state employees already seriously considered
take of the farmer. To give school
teacher scrip merely transfers the burden to the merchants
does help the farmer is desirable doubt but
leaves the farmer holding his wheat yet compelled to pay
to redeem the SCRIP under other plans This plan
automatically doubles the price Of grain, and it 10 SELF
liqudating.
There one additional feature When Farmer receives
this double price for his grain he must sign up agree
men in consideration for this special price, to reduce his
accordance with specified agreement when he
receives these certificates The for this that he
has received his by getting double price for that
.duction.
gresve Two thousand cities have already adopted scrip
money It is not experiment Let extend to the farmer
and the Of initiating the well
doubling the price Of farm produce.
every confidence that will BE- plan win no doubt
be adopted by the Federal Government in connection with its
to e
ment Plan, because 1t simple, qudatng and spa0dy
This plan, let repeat will accomplish the following
!. will DOUBLE the price Of wheat Tor any commodity
to which its principles may be appledl
will induce payment Of farm loans to the Bank Of
North Dakota, and render unnecessary NO00000 tax
kota Real Estate Bonds
w er snSut q and sS
L. It will NOT create surplus Of wheat because each
bushel is sold at the time Of the transaction and
held in storage