Newspapers / The Progressive Farmer (Raleigh, … / Jan. 29, 1916, edition 1 / Page 23
Part of The Progressive Farmer (Raleigh, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
ort,ages, wncn- tuc-.puui iiiiicia et naexmt dCnd why should Wt ur Govern ment serve all the people jast as it is serving a part' of themnhrough the Federal Reserve '-:Bafiks ? These twelve Federal Reserve tBanks, which are banks for bankers-donot have to sell their bonds on1 the. open market tn net money. No, 'they go to the arm on v. source ui iiiuucv, 111 IK 111 u ... - i -.. Federal Government, 'and ; get money simply f or the ' cost . of printing it We find in circulation all over the country, Federal' Reserve hotes which the Secretary of ourTreasury printed and issued to .-the Federal Reserve banks. If these bankers' "banks can get money for the cost of 'printing it, why must the farmers'land loan banks borrow money1 from private corpora tions and pay them whatever, rate of iprrst thev wish to charge for it? Of course it will 4e claimed that only sold is money, and tKat a "certain per cent of gold reserve must be'kept on' hand for the redemption of paper, currency. But if we "had time and space it can be proved by law -andby looic and by experience that '$1 is 'the standard of vvaliie, and'not the 25.8 grains of gold in the gold dollar, and that the $1 puts value' into the gold rather than the gold valueinto the $1. And as for the small redemption fund required to' be kept on 'hand, the tai lacy of the whole redemption business is shown by the fact that 'We ; have more non-legal-tertder " currency, '-redeemable in gold, thah 'we have gold. And it will be claimed that experi ence" has shown that this small 'per cent of gold is sufficient to meet all demands for redemption ; 'but T who determines the "experience'' ; if Jtibt the bankers and mine-Owners "who are reaping millions from our "mone tary system? They : would' be; foolish to kill the goose 'that is -laying the golden eggs. And yet rwe do know that they can take Our 'paper Cur rency redeemable 'in "gold 'and 'draw out every dollar of gold ffOm our Treasury and force the Government to sell interest-bearing:bonds to buy more of their gold. This 'has been done in the past, and itcanbe done over and over again and agaitif, an endless chain. Just nOW warbOndsand the so-called "preparedness" (forwar)' offers a more inviting:fieid because of the higher interest and the:-greater power obtained by getting the'rpeople (government) more deeply in debt. Limit the Rate of Interest THE third and last poirit is the rate 1 of interest. This, committee bill puts no limitation on the ratevof in terest, except that it is to be loaned to the farmers at 1 per cent above the cost of the money, the rate which the bonds must rarrv in niMrrr Gnrf is1f vm a J III VSIUV V W 1111 VI W V for them. This bill is worse than the. Hollis-Bulkley bill, -and . it was bad enough; but it did -provide "that": the Government should create a -market lOr laild hank Kw (rmrrViiicirirv 'tvrif fn exceed fifty million dollars worth -of those bonds each year. Apd the Hol-hs-Rulkley bill-did limit the 'rate of "'terest to 5 per cent 'on1 the bonds, ibis committee bill has eliminated both of those features. : I he Government of New Zealand lans monpv Mir4- r-...' o 0 - V JJ, D Pi "4 hotpot pti prmr nf p .'A m fn vi n 1 Ki r m tr 1 c h f H penni 1 1 n T the soil and puttirig nothing back is soil-piracy, and the habit is -as dangerous -as a battle-ship and as treacherousas a submarine. The best ammunition with which to fight this ancient enemy is TKADEMAfck REGISTERED. These dependable goods furnish the very best available plant-foodi, Selected and combined with the usual Roy ster superiority. In 'them'you 'w elements of plant- food which willstrengthen rid'eh and help it to reach out for the- natural potash available in the soil. v Feed yotirlctops asybu wotild-yourself. If you could not get meat, would you deny yourself bread? If you cannot get Totash for your crops, there is ali the more reason for giving them Ammonia and Phosphoric Acid. Insist on ihe -fSI bran' and see that it is on every sack. F. S. R OYSTER GUANO COMPANY NORFOLK, VIRGINIA. cent on ten years' time,' repayable annually on the aftiortbatiOn V'plan. ha w w44vvw I1V1I1V TT ID. AnA .'. !J iL.i action, homesteads -of less than oiX). value are free from s taxation. uy will not our 'Government en rap:e and pfOttlote'home 6wnerihip ""unj inynejr vu ine people 0,1 'onpr time at 4 per cent? - , T"s committee bill provides " the amortization plan' of rcpaymehtbut n!,Tnres "est; to bpaid-semin-?ft " '-Wrongs ''Farmers' wiould not be required to 'make pay. W iany oftcncr Inny year'than tnlr avc crPs to '.market. -The trucking sections mights make semi annual payments, but it would work crops p on,Pfoder of-'the-Waple 'Farmers should not endorse any bill that is dependent on investment bankers for money. Neither should they indorse any bill that does' not fix absolutely a low" rate of interest to the borrower, certainly not oyer 5 ?per cent ; it ought to be 4 per cent. This committee bill should be de feated. It will make the last state 'of the farmers worse than the first. Better-continue the fight for full jus tice to therpeople;!and farmers every where should let:Congressmen know their views. H. Q-ViLEXANDER. THE BROWBEATEN1 WITNESS - A farmer was in1 cdurt," complaining that a certain neighbor had. stolen some of his ducka, !Do you know that these are your ducks?" asked the lawyer In a severe manner. v - "Oh. ;yesMshouId'lcnow-them 'anywhere.". was' the confident answer, and. the farmer proceeded ., to ? ghre in ; detail the tartoua ?oints and. marks by which the birds might e Identified. - . .Tnf thttA ' AntVm ar -ru ' different from no' Mher Arcn." nhlocted the lawyer.' "I have a good many in my yard at home Just like them. What hare you to say to that slrT" . . , A "The-farmer 'tinefossed 'hlg legs, crossed and remarked with an lmltable draw Jr. That's Mot'unnxeiy. Tnese are noi me omy 'flucks I haT had stolen-in ine -un 'Amid the roar of laughter the smart law yer' aat down.-Exchange. f ts rwLm ytof Ybur'oim 'renewal; one" r'i And ThiProffrelslvo irarmer one year w Wits g c Ekpetfse of Soggy Soil Can you afford to keep soggy land f You have to pay taxes on it. but derive no profits from those swampy news, i nc land stays sick and sour. The fertilizer is mostly washea away. Those undrained fields with their heavy, lumpy. subsou prevent the plants irom acvciupuig a uwuuy root system. They spread malaria among your iamuy and disease among your livestock. Why not getrur )f these soggy fields turn them into cash-producing' acres, that will pay for the draining over and over again? v - ' taw OF 'UNDER. bRAillAiSE5" Tie Borden Srtea ttesnf the we ef fwxi tUxin UrilaTDe to take tbe noUtare 4ows tarovra tkrtoti lutcw or aroM um sBnace h ditcbet to. It soeiM Kortntvp Wtatert WM for wmmcri croy. it xwTlr' anl thit StraLY ti lkiMlaa-a4 r tfrti yoa a t or thttt weiki earlier scat. It uttaa gettlaf an tjbatwfroartt vnBUtoaieacuaf. Hsxusatou vm woirelitMrMad itm, it vxtat ttmng omc im tnblt yortrm yuwt. Tic &k& srwa au ttcry farmer, tm ucreaM from a tew crops pay uc con, . "mi tU Pordea Syitem Utt$ a lifetime, . Write aow for "f rices oa Soraca Praia Tilt and get full taformaooa. sBottDtM Brick& TileGo. (no. 4) 'mm 'GOLdSBORO, N. C When writinf to adTerOiert -w your; drrtMnrat la Th "neWaubscntWT.
The Progressive Farmer (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Jan. 29, 1916, edition 1
23
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75