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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