People's Pilot, Volume 3, Number 37, Rensselaer, Jasper County, 2 March 1894 — A Foolish Policy. [ARTICLE]

A Foolish Policy.

There is in the treasury to-day enough silver in the way of seigniorage to meet the'necessities of the government without borrowing a single dollar. To prevent this comparatively small addition to the circulating medium of the country and gratify the bond-holding classes it is proposed that the United States go in debt and pay an interest charge of $25,000,000. This is the plain fact of the case, whatever may be the law. With ample means in the treasury to meet the deficit in current expenses, with an amount of gold to be obtained by the sale of bonds, we are imposing a new and wholly unnecessary debt upon the people.—Memphis Commercial.