OCR Text |
Show from which small loans at low interest be made to farmers on long time, taking tak-ing as collateral security their lauded they property on which can labor and improve their conditions as well as tho value of the land mortgaged; where is the risk, and who is harmed? Not the nation, for these well-secured loaus enable en-able the producer to relieve themselves from the grasping usurers and land monopolies, mo-nopolies, and at the same time secure the republic from wide-spread disaster and general bankruptcy. Tho millions loaned go nt once into general circulation circula-tion and relieve a great and pressing want. The nation gives to the capitalist capital-ist the right to issue paper money and scatter it broadcast and takes as security secur-ity for its redemption its own notes or bonds. Why not issue treasury notes to a much more deserving class, taking equally as good security and thus secure se-cure itself from impending loss? A STATESMANLIKE I'UOl'OSITION. To tho Editor of Tub Times-. Senator Stanford's proposition to relieve re-lieve that great producing class of the country, tho farmers, appears to servo a purpose, in that every witling in the country must have his fling at this broad and level-headed statesman. Most of the superficial writers, whether of paragraphs or editorials in nowspapers or more elaborate magazines articles. take it for granted that tho senator's proposition would take a large sum from tho surplus in the national treasury and scatter it broadcast over the union. Not a dollar would be so taken. Congress has the right to loan money in this way. Tho nation has a right in sclf-defeuse to issue bills of credit, promissory notes with collateral security behind them. This backing up may be gold, silver or land, all three, of them always have an intrinsic value.' Allowing a sufficient margin for varying markets, all three of these intrinsically valuable and eudur-ing eudur-ing properties, have a permanence attached at-tached to them so that in the long run and especially as regards improved laud, age increases their value. The nation's necessities in time of war. w.-ir- raut and demand extra exertions for which it has ample power. As the legitimate result of its suicidal legislation iu driving silver from circulation circu-lation aud affixing u stigma upon it bankruptcy stares the producing classes' of this country in the face. The debtor class and the farmers generally lin, members of it is in trouble and at i the mercy of the creditor class. Foreclosure Fore-closure of mortgaged farms and largo accumulation of arable land in few hands is becoming too common and the nation as a whole is in danger of suffering suffer-ing as by tho besom of war. In vj,.w- 0f this national disaster, suppose an is.sue of bills of credit, in other words treasury treas-ury notes on a legal tender b.is |