684 READINGS IN RURAL ECONOMICS 



principal by the increase in valuation. The result of the investi- 

 gation should be such as to restore confidence in those states 

 where the conditions have presumably been so bad. In fact one 

 would be led to conclude that the mortgages on the whole had 

 exerted a beneficial influence. 



IV 



FINANCIAL VIEWS 

 FINANCE 



We demand a national currency, safe, sound, and flexible, issued by the 

 general government only, a full legal tender for all debts, public and private, 

 and that without the use of banking corporations, a just, equitable, and efficient 

 means of distribution direct to the people at a tax not to exceed 2 per cent 

 per annum, to be provided as set forth in the sub-treasury plan of the Farmers' 

 Alliance, or a better system ; also by payments in discharge of its obligations 

 for public improvements. 



We demand free and unlimited coinage of silver and gold at the present 

 legal ratio of 16 to i. 



We demand that the amount of circulating medium be speedily increased 

 to not less than $50 per capita. 



We demand a graduated income tax. 



We believe that the money of the country should be kept, as much as 

 possible, in the hands of the people, and hence we demand that all state and 

 national revenues shall be limited to the necessary expenses of the government, 

 economically and honestly administered. Omaha Platform 



The most important planks of the Omaha platform are those 

 which relate to money. This importance is shown by the care 

 and thought with which they are set forth, by the fact that the 

 late campaigns have been fought with this currency issue as the 

 prominent one, and because the main support of the party comes 

 from states which are interested in silver ; although it has been 

 found that this support was not due entirely to the silver tendency 

 of the party, but partly at least to other planks which are more 

 socialistic in character. In addition to this is the attitude of the 

 leaders of the party toward the money question in comparison with 

 the remainder of the platform. They believe in a financial cam- 

 paign, leaving the rest of the platform to be taken up at some 



