People's Pilot, Volume 3, Number 4, Rensselaer, Jasper County, 14 July 1893 — Our Plea. [ARTICLE]

Our Plea.

The creation of a medium of exchange, being an act of congress, must be at the expense of the whole people, and therefore 'whatever profits may arise from its issuance ov.ght by right to come to the whole people and lessen taxation that much. This is the theory and plea of the People's party. Let the government coin all the gold and silver at the existing ratio free, and supplement that by the issuance of full legal tender treasury notes till the coin and paper reach fifty dollars per capita. Let the government pay it out on current expenses or loan it at three pei cent, on currency that is good beyond a doubt; then let the government establish savings banks for the people, where

phey cUfi dtebogjt lheifr Surplus ’ earnings xVitlidut fear ttf los§. ’ f'hb iie\Mr tftwte’* tU* a spedulWsx will be j Effect confidence, which means |no panics. Don’t bfe ‘sMUelcbd. I DenideriUa <hU ftbpiibliOalis, at ; H A proposition, at sc uh a wholesale slaughter df banks. Read' up WH»i y l bb Will i leaJrn IfiAt Vfie colonies existed , One hundred and fifty-nine years j without a bankotlfer Ift&u the | gdvertttafefet. Each colony made 'IU own money, and either paid it out on current or loaned it fe Vti own citizens, and no bank ever existed in what is now the United States till the Bank of North America was established in 1779. So it is seen that the plan of the government issuing thb monby direct to the i people without the intervention of was the original policy and practice of the people of this continent, and was displaced by the European plan of giving to persons and corporations the right and privilege Of furnishing the people with money. On outside of the question we have the practical experience of the colonies and its good results for one hundred and sixty years, and the testimony of Jefferson, Jackson and Lincoln, and the further facts that our independence was won with money issued by the government, and that in every war waged since by our nation, money issued by the government was the only resource left to carry us through, and that in each and every panic that has come upon us, it has always been the means that helped us out. Aside from the nation’s experience and the authority of the constitution in our favor, where is the right to clothe one man with the right to furnish ten thousand as good as himself with a medium of exchange. Why give him power and control over the business and property of those engaged in producing and exchanging wealth? Why give one man a business that allows him to open at nine, close at four, and grow rich; while another toils from five in the morning till eight at night and always remains poor? It is not our wish or purpose to “set a multitute on any man, but we do ask the Pilot readers to allow their minds to run back for the past twenty-five years and reflect on the power to absorb wealth, to control business and politics that has been exercised by Jasper county money lenders, and ask yourselves is this the best way? Those are not bad men. nay, we believe them to be better than their business. We are not warring on the men but on the system. It is inherently wrong and should have no place in a democratic government. Here is a service where the people can serve themselves better and at cost. Then why not do it? is the question raised by the People's party. There is a loud and urgent demand just now for more money. The Republicans say, let the national banks furnish it. The Democrats say, let the state banks furnish it. See, it is interest, interest all the time. The People's party says, let the people furnish it, then it will come at cost. (To be continued.)