744 THE IMPENDING REVOLUTION. 



of dollars without any charge. We ask simply to change, 

 for a while, at least, the class of individuals who are the re- 

 cipients of the government gratuity. The government 

 has a better right to loan to the States than to the unscru- 

 pulous corporations. The States have as good a right to 

 borrow from the general government as from individuals. 

 The government has the right to issue it and the people 

 need it to save them from general bankruptcy and ruin. 

 It interferes with no one except those who have already 

 enjoyed the benefits of government favors for years. It is 

 perfectly proper for the States to loan it to the counties 

 and the counties to the people. This whole business could 

 be regulated and restricted so there would be no risk 

 whatever. 



The general government could tax the States i per 

 cent, the States could tax the counties 2 per cent., 

 and the counties charge the people 3 per cent. This tax 

 would pay all expenses attending the system. It would 

 not only increase the value of every man's farm, and the 

 products of his labor, but would enable him to lift the 

 mortgaged indebtedness now drawing from 8 to 12 per 

 cent, with money borrowed from the government at 3 per 

 cent The enhanced value in the products of labor, caused 

 by an increased volume of currency, would enable him 

 soon to pay his obligations to the government. The 

 amount of money thus returned could then be loaned to 

 some one else, and by this means the volume could be kept 

 uniform with the growth of business and population, and 

 would adjust itself to the wants and necessities of the peo- 

 ple. There can be no practical, common sense reason given 

 why the government has not as good right to loan money 

 to the people and save them from financial ruin, as it has to 

 loan it to rich capitalists for purposes of speculation. Real 

 estate is better security than government bonds, for the 

 bonds are based upon the real estate and other property in 



