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PAGE FOURTEEN
PARCELS POST AND RURAL
MERCHANTS.
There seem to be only two objec
tions to our having a Parcels Post in
this country same as the people of all
other civilized countries have. One
is that it will cut the profits of the
Express Companies, the other that it
will injure the country merchant by
making it easier to send away to the
large mail order houses for goods.
The first is probably true but as it is
said that the Express Companies
now make a net profit of about 200
per cent on their actual investment,
we fancy that the people will not
mind greatly if they can save some
of this unreasonable profit to them
selves by sending their packages
through the mails at one-fourth to
one-half what the Express Companies
charge. The second reason is more
worthy of consideration, as it would
undoubtedly be unwise to pass any
law that would seriously injure the
merchants of the country towns. But
would a Parcels Post injure the mer
chants? Some merchants think so,
others not. Any competition of the
mail order houses that can injure
home merchants to any extent worth
considering is and always will be a
freight business. I have yet to hear
of a merchant who objected to freight
rates being lowered because it would
make it cheaper and easier for people
to send away from home for goods.
It is just as illogical to oppose a
reduction of postal or express rates
as it would be to oppose a reduction
of freight rates. The merchants will
be large users of a Parcels Post and
the benefit they realize from cheap
rates will vastly outweigh any profit
they may lose on business sent away
from home. A Parcels Post will save
many millions of dollars to the peo
ple and they are demanding it in no
uncertain tones. I have been reliably
informed that the Chairman of the
House Postal Committee has said
that the il Postal Reformers’’ can
count on his aid in the 60th Con
gress, now about to assemble.
Only a few days ago I was very
forcibly reminded of our need of
such a post when I was compelled
to pay SI.OO on a seven-pound
parcel from Philadelphia and the
same amount on a six-pound box
from Boston. Os course no one
doubts but that the government could
have carried these packages for 28
and 24 cents, respectively, at a profit.
It seems a good deal like being rob
bed to have to pay $2.00 for having
52 cents worth of work done. It
looks now very much as if the next
Congress will be compelled to take ac
tion on this matter and it would be
the wiser course for the country mer
chants to use their influence to get
a law favorable to themselves rather
than oppose it entirely. For instance,
it is now easily within the gift of
this government to grant the people
a one-cent four ounce postage rate
on all mailable matter, sealed or un
sealed, with a weight limit of not less
than eleven pounds, leaving the sec
ond class matter as it now stands at
one cent per pound. In connection
with this rate for the whole country
there should be special rates for bus
iness that went through only one of
fice to or from a rural route about
as follows:
Parcels up to 1-2 lb., 1c; parcels
over 1-2 lb. and up to 1 lb 7 2c; par-
WATSON’S WEEKLY JEFFERSONIAN
cels over 1 lb. and up to 2 lbs., 3c;
parcels over 2 lbs. and up to 4 lbs.,
sc; parcels over 4 lbs. and up to 11
lbs., sc; parcels over 11 lbs. and up
to 30 lbs. (half bushel), 10c; parcels
over 30 lbs. and up to 60 lbs. (bush
el), 15c; parcels over 60 lbs. and up
to 100 lbs. (half barrel), 20c; parcels
over 100 lbs. and up to 200 lbs. (bar
rel), 25c.
No package over 200 pounds or ov
er four feet long carried. It is eas
ily seen what a benefit such a law
would be to the country merchants
in every town and hamlet in America,
while it would save many millions
of dollars in time and money to the
people.
Dublin, Ga. J. B. CRESWELL.
THE ADDRESS OF THE REAL
MONEY LEAGUE.
The system of “banking on de
posits” enables bankers to use the
real money in their possession as a
basis for creating from three to fif
ty times as much absolutely fictitious
money.
The unjust privilege of doing this
gives to promoters and other fren
zied financiers the most of their
crushing power.
And the alternate expansion and
contraction of its volume causes the
money market to fluctuate frequent
ly, and often violently.
Bankers themselves now admit
that it is impossible to frame laws
that will make banking on deposits,
for private gain, entirely safe, when
the managers of banks are incompe
tent or dishonest. And it is also im
possible to keep such men out of such
a business.
Moreover, as serious as is the loss
to depositors of large amounts of
money by the failure of banks, oth
er evil results of the system are a
hundred times greater.
That deposit banks do much good
is freely admitted; but a system can
—and ought to —be devised that will
do a great deal more good, with none
of its baneful results.
Emphasis is laid on the following
fundamental propositions:
1. Civilization and progress are
impossible without money.
2. The only essential function of
money is to serve as “the medium of
exchange”; and the “quantitative
theory” can not be sustained unless
everything that does the work of
money, and does nothing else, is rec
ognized as a part of the “volume of
money.” This means that the more
than $7,000,000,000 of the purely fic
titious money which bankers “lend”
and “borrowers” pay for; and which
has exactly the same effect on val
ues and business that real money has;
and which the courts recognize as
money, should be added to, and in
cluded in, the “genera] stock of
money” reported by the treasury de
partment.
3. The “best, money” is that the
exchange value of which varies the
least—and the constant effort should
be to increa e the quantity of the
best until there is enough of it, and
to decrease that of the poorer kinds
until only the best remains.
4. Whenever there is enough mon
ey in actual use to enable all the peo
ple to exchange their products, the
demand for services necessarily
equals the supply, and no wage earn
er is compelled to accept unfair
wages, nor to submit to unjust treat
ment.
5. Whenever the volume of mon
ey increases faster than that of prod
ucts and services, values and prices
tend upward, the demand for services
grows, and all kinds of business im
prove. But, when the increase in the
quantity of money does not keep up
with the ever enlarging demand for
it, values and prices tend downward,
the demand for services decreases,
and business is proportionately de
pressed. These are undeniable his
toric facts.
6. No person, or nation, can pro
duce as much as he, or it, desires to
consume; and therefore, aggregate
over-production is impossible. But,
as the ability of the people to pro
duce is greater each day than it ever
was before, more money is required
every day to effect the needed ex
changes, and, therefore, contracting
its aggregate volume must always do
harm—and should never be permit
ted.
7. There never was a commercial
panic until after the deposit banking
system had become firmly established.
These economic earthquakes are still
unknown in all counties that have no
banks of deposit; and they are most
frequent and calamitous where the
largest proportion of the business is
done through them. In fact, the re
lation of deposit banking to commer
cial panics and long periods of busi
ness depression is that of cause and
effect. : jt’ |
8. The reason is that from 75 to
98 per cent of the money “loaned”
by these institutions (and upon which
they annually collect hundreds of mil
lions of dollars of interest) is unde
niably fictitious —can be neither seen
nor handled.
And, because it is fictitious, their
managers are often compelled to
suddenly contract its volume.
And contracting its volume has ex
actly the same effect on business and
values as has the destruction 'of an
equal proportion of the real money
in use.
Moreover, this system enables
bankers (by such contraction), to de
press business, and even to precipi
tate panics, almost at will—and this
power is often used.
9. The best financial writers agree
that this kind of business can not be
rendered even approximately safe un
less the banks keep in their posses
sion one-third—or at least one-fourth
—as much real money as they are lia
ble to be called upon to pay out
at any one time; and yet the appall
ing fact is that, of the 6,148 national
banks doing business September 4
last, 5,781 are not required by law
to keep even 6 per cent, and none
have to keep 25 per cent- —and the
state and private banks are even
more reckless than the national banks
are.
10. Any kind of real money is
sued by the nation, with all the peo
pie pledged to its support, must be
better than unreal, “hocus pocus
money,” with only some local bank
behind it. Yet bankers, who dare
not discuss the facts herein set forth,
are demanding the right to issue “as
set currency,” or “emergency cur
rency,” and still other privileges that
would make matters worse, instead
of beter; and it behooves thinking
people to compel a full discussion of
this incalculably important subject,
so that, when the rapidly approach
ing financial tornado arrives, the
people will be prepared to substitute
a really “safe and sound” system
for the present unsafe and unsound
one.
11. The constitutional authority
given congress to “coin money and
regulate the value thereof,” is equiv
alent to a command. As the only
way to regulate the value of money is
to keep its volume as nearly as pos
sible exactly equal to the market/
demand, this language requires con
gress to see to it that the supply is
always abundant, and to prevent any
man or set of men from usurping this
prerogative. And it is a grave of
fense against humanity for congress
men to fail to discharge this the most
important of all of their duties.
12. Fortunately, although the fast
crystallizing money trust is the most
powerful and dangerous division of
the plutocracy, it is much the easiest
to overthrow—for, with a rational
monetary system, every well managed
bank that might wish to wind up its
affairs, could do so without the loss
of a dollar of its capital, or the im
posing of a tax on the people or
issuance of a bond by the govern
ment.
The foregoing and other facts
make it clear that, instead of still
further increasing the privileges and
powers of great bankers, the govern
ment should unceasingly supply the
people with a sufficient quantity of
some kind of real money; and that
it should also compel the banks to
do a safer business—by requiring
them, to gradually increase their cash
reserves to at least 25 per cent of
their deposits. Each step in these
directions must make every kind of
legitimate business safer and more
profitable, and decrease the likeli
hood of business depression and finan
cial panics.
At present the Real Money League
of Shawnee county will be an “or-i*
ganizing” as well as local league. In
quiries about the league may be ad
dressed to Albert Griffin, President.
THE “POPS” AND OTHERS.
I fought the Peoples Party in 1892
only because I feared to split the
white vote, but then and since, I have
had many a quiet laugh at some, or
so-called, Democratic papers who
mocked at their sub-treasury scheme
as undemocratic. They called it
“Paternalism” and everything elsrJ
like the ignoramuses they were a I
are. I
During the administration of
drew Jackson the U. S. banks tllß
had been using the government m</' I
ey as they are today deliberay I
brought on a panic to frighten / fl
voters and make them repudiate JI S
son. But, having a large surplus fl
the treasury, the result of callin I ■
the deposits, he wisely depositel ■
at various places and loaned! fl
to the farmers and business men I ■
small interest and brought al
what history calls an era of J B
times, and to this day no one haa B
cused Andrew Jackson of being B
Populite except Tom Watson. )' ■
up, you little editors, and m ’•J.
things. Send me a dollar, get! [k
Advocate, the best educator inw
state, and read it.—Mississippi
ion Advocate. I