Show THIS THE MONEY QUESTION elsewhere in the news new appears a communication n from mr john M hor harner of honolulu which was brought out by on an editorial in these columns headed ws as above in the letter mr homer it will be observed claims to have simplified what has fill all along been and to the multitude is ie yet a roost most complex coni plex question that of the philosophy aud and regulation of the 1 system of the country count ry he claims to have eliminated the element of mystery and so eo clarified olar fled the theme that any one of ordana understanding may no longer be SAMY astray 1 to accomplish this seemingly I 1 magical result the gentleman has written a book of nearly early pages entitled national Nation sl finance and public money a copy of which accompanies ales the abe communication A refe reference reace to the preface prepa gives a tasir faar idea of the nature of the foll following twing after ul alluding ludIng to meni ined wh who handle hand le rooney as ae a business such as bankers brokers and so on as the class who produce noth ilIg and whose receipts are taken takee from the people who create all the wealth of the world he ref cefere eve to increased intelligence being the means of showing that an all prevailing preva innig money systems are at ait fault the masses produce and d the money eban geis take nearly all that Is not absolutely necessary to the physical icEA subsistence of she producers all of which was made possible by lack of education and being taught to obey but with enlightenment MW BOW so general ife that all 11 ll cian can comprehend erad yi tor the system to continue laue would in his ble judgment be anomalous indeed reference to Is made to the frequently recurring panics and disasters which artoe from the imperfect money systems pr prevailing brevall evall aling as more atten taft to be turned to the subject un until d the money cless class no longer stove ve a manoo monopoly oly of knowledge regard ing what was once a mysterious subject the author shows that as aa in all great awakenings awaken ings the atrat ft rot ate are apparent in a general feeling of dissatisfaction with the methods in use this feeling is participated in by all classes who are not mot dependent rethe rythe manipulation of money and is shown by the numerous propositions for change all looking for the inauguration of a system whereby the producer of wealth may retain his fair proportion of the products while much has been published pu bUshed and numerous mum erous methods presented no system has been advocated which would result in giving to the people a currency to facilitate the product production ioa and distribution of wealth which would have at art all times the same value las as united states gold coin coi n and be so eo elastic that lit it could always be obtained for the uses of agriculture manufacture and commerce and never in excessive supply numerous citations are made from the public utterances of american statesmen and of political platforms af after ter which the theme crystallizes into the draft of a bill which it is proposed shall became law it Is entitled an act to organize a government banking department and to authorize its officers to make circulate and redeem money 9 it provides for the creation of a parent bank with one or more branches in every state the money of the country shall be as at present except that the banks are authorized to issue paper money as loans to be secured by national and state bonds at 90 per cent of their face value and on gold and silver bullion at the same rate it is a voluminous measure anming at securing a bank with unlimited powers that cannot be broken that will supply ch a par oar currency for the ch ays yys yoom JUA alic use of the people not depending on the wealthy or the gold in its vaults for stability whose currency would have sure redemption that can always lend and borrow with its profits divided for the benefit of all and so on the various features are too numerous and too elaborate to be adequately reviewed in a newspaper article only a general idea of the subject being given the plan embraces some of the features of populism but the gold standard of values and redemption of paper currency at once forbid such a connection A cursory glance through the pages of the book leads us to conclude that if the author has succeeded in entirely dispelling the mysticism which the news attached to the subject in the article first spoken of he seems to have invested it with another almost if nut not quite as perplexing to the ordinary intellect for instance how it is that diffused and enlarged benefits are to accrue to the masses through the establishment and maintenance of a banking system which would be as certainly national as the one in vogue and differing from it only in the matters of regulation and method od is not at this time clear when to this is added the necessity of giving government or state bonds or bullion as security for loans from the bank and on which security only ninety per cent of their value can be obtained there occurs an other obstruction to the understanding most people would rather have a government bond worth a given sum I 1 than ten per cent less than such sum i i in circulating medium it would be of imore more v value alue to them even though the loan was at a low rate of interest and i 1 the same thing applies to gold and silver allver bullion there are many other features of the measure that are worth reading and considering perhaps some of them might shed new light on what hash has been herein referred to but whether or 1 I no space forbids at the present time |