People's Pilot, Volume 4, Number 38, Rensselaer, Jasper County, 9 March 1895 — Those Gravel Road Bonds. [ARTICLE]

Those Gravel Road Bonds.

Without presuming to criticize the wisdom of bunding the grav el roads of which the countv stood so greatly in need, this ar tide is designed to show conclu siveiy that there are certain fed eral laws, now operating for in dividuals only, which, if extend ed to county governments, woulo enable the people to get money to build roads and for other pub lie purposes, without the pay ment of,any interest. Few wii dispute the justice of the general government loaning money to a rich county on the same terms that it loans money io a private firm, yet that is ju.->t weal the law does noi authorize. The law permits the government to loan to individuals, practically without interest, and on poorersecur ity than the bonds of Jasper county. This is done whenever a bank is started United States oonds are deposited with the secretary of the treasury and he loans, as a practical fact, ninety per cent of the lace value of the bonds, in bank bills, to the owners of the bonds. It is demoi strable that Unit-

ed States bauds are less valuable than county bonds, for this reason: A county may be sued, and the courts may direct a levy ol' taxes that i- equivalent to fore closing a moitgaue. while there is no way to eompe. Uu< In Sam to pay his obligations if not able to do so. Would it not be just as reason able for the government to loan the county money, free of interest, for such pui poses as the building of gravel roads or court houses, upon the pledging of county bond>. to bear no rate of interest, as it is to loan, in like manner, to n oiona! banks, tha pledge U. S. bonds, upon which the bankers draw interest besides having ninety per cent of their value to lorn to the people? Is there any risk that the government would take in such a transaction? Is there any one who would not be a gainer by the enactment of such a law except the private money loaner?

Mrs. Emory's y*• - u Finan vial Conspiracies" should be read by every person in the United States. It gives a history of the legislation that has bui) the money power of America. Sent post paid to any address for 10 cents or three copies for 25 cents. Address this eftice. The People’® .Pilot and Vincent's Seariiognt both one year for $1.50, regular rates 1*2.00.

Saie bills printed at the Pilot office as soon as ordered. Bring the order in the morning and get them at noon. Prices reasonable.