OCR Interpretation


The day book. (Chicago, Ill.) 1911-1917, September 15, 1914, LAST EDITION, Image 10

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1914-09-15/ed-1/seq-10/

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They know that men who earn a dollar a day can't pay a dollar a day in
taxes and keep on working. They must have at least enough food to keep
alive and able to work. They must sleep some of the time. And they must
have something to cover their nakedness.
It isn't safe to let the war debt pile up so high that the world s workers
can't pay interest on it ,
So the chances for peace are improved when the money-lenders get
tired of war. , . . , , ..
There are indications that the money-lenders are about ready for the
Christians to pray hard for peace.
This year there is also good picking for the vultures of the air on
the bloody battlefields of Europe. The crops of grain may rot on the
ground, but the harvest of human meat in war-torn Europe beats all
records.
-o o
ONE MAN'S OPINIONS
BY N. D. COCHRAN.
Sell Bonds to the People. Whn
the bankers took hold of New York
city's debt to European holders of N.
Y. bonds, which were about to be
come due, the bankers had the inter
est rate raised from 4y2 per cent on
the old obligations to 6 per cent on
the new. On an issue of about $100,
000,000 this increases New York's in
terest charge about a million and a
half a year.
Chicago is in much better financial
condition, because her debt is less
than $25,000,000, while New York's
is over $1,000,000,000. But there is
already talk of what the bankers will
insist on if more municipal bonds are
issued here.
St Paul has shown the way. The
city sells its bonds direct to the peo
ple. Chicago can do the same. If the
bankers insist on five or six per cent
here, let the city issue its bonds in
denominations of $50 and $100 or
even as low as $10 and sell them to
the people.
If the city must pay 5 or 6 per cent
on a public debt it would be better
to pay it to the people than to some
body else; and the people will be
better off investing their savings in
bonds paying 5 or 6 per cent than
getting 3 per cent from a savings
bank.
Cftv Comptroller Traeeer tried this
out with $1,000 bonds and sold a lot
of them. But there are not many
Tipnnlp wTin have $1,000 to invest
Bonds of lower denomination would
get people in every corner of the city
interested and bring them" a larger
return on their investment
Vacant Land. Some day when
you are walking along the street
most any street step in front of
some vacant land, look at it care
fully, and then THINK.
You may think that vacant land
has no interest in YOU or that YOU
have no interest in the land. But
haven't you?
If there are buildings on both sides
of it and across the street, why is
that particular piece vacant?
Is it because nobody needs it and
nobody can use it? Is it because
there is no demand for it?
Of what use is it to the owner if
he doesn't build on it, doesn't plant
something to grow on it and just lets
it lie there doing nothing?
Of course, the owner pays taxes
on it, and yet he has no income from
it Still he is making money by hold
ing it out of use. Why?
Because YOU and all the rest of
us are making it more valuable every
day. He Is making money by the
APPRECIATION of that land. He
may sell it for several times what
he pays for it
There is just so much land in the
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