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Newspaper Page Text
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AUTHORITY SAYS ILLINOIS AND CHICAGO
BONDS CAN BE MADE INTO REAL MONEY
"Enough Money To Go Around"
sounds like the name of a new rag
time piece, but it isn't. It's the sub
ject of a talk by-Arno Dorsch of the
staff of the World's" Work magazine
and he's on the program of a meet
starting tomorrow at 9:30 a. m., in
Fort Dearborn hotel, held by The
People's Money league.
Cash too much cash in the hands
of bankers and not enough of it in
the hands of workingmen, farmers
and small business men that's what
bothers the members of this league.
Speakers and delegates come from
12 states. They are trying to find a
way to stop the interlocked banking
systems known as "the money
trust" from cash control of the na
tion. Among Chicago men to speak will
be Robert H. Howe, one time with
the Continental & Commercial bank.
Others are Dr. Karl P. M. Sandberg,
a Northwest Side physician, probably
the best known critic of the money
trust in Chicago; Huldah Potter
Loomis, Anna Burgess, Wm. W. Clay,
J. Weller Long and Lucius 0. Wilson.
"A system of government banks
and government money is the only
way for the people oif this country
to break the vast confidence game
played by the private banks and their
private bank notes," said Dr. Sand
berg today. "Newspapers and bank
ers have thoroughly discredited this
idea in the minds of most people.
They cry wildcat money. At the same
time wildcat operations of many
banks, even some of the largest and
strongest, go unnoticed in the news
papers and in public addresses of
men like Charles G. Dawes.
"You need only turn pages of the
financial history of this country to
see that the money question will rise
again as a leading political issue.
Newspapers, bankers and politicians
are always anxious to sidetrack it
Under Presidents Jackson, Grant and
Cleveland there was war on a cen
tralized money control. The ques
tion is rising again. It won't down.
"Congress could solve the currency
problem by issuing money and using
the postal banks. Illinois as a state,
even Chicago as a city, however, can
act independently of congress in
solving the currency problem. Illi
nois has a right to issue bonds. They
are generally sold to banks and draw
4 to 6 per cent But what is there
to prevent Illinois from issuing bonds
in smaller denominations, say $10 or
$5, and drawing lower interest, say
y2 or !4 per cent? Let the state pay
these out oh public enterprises and
then accept them fn return for taxes
or other debts. These bonds would
"The city of Chicago can do the
same thing. Chicago now sells bonds
direct to the people, but for not lower
than $100 apiece and at 4 per cent
That's a big gain over Cook county
selling its 4 per cents to bankers at
"City of St. Paul sells bonds at $10.,
Two more steps would make them
money: (1) An interest rate so low,
they wouldn't be hoarded; (2) paying
them out for work directely instead
of selling them for currency."
CHARLTON SYMPATHY FADES
Como, Italy., Oct 23. Porter
Charlton's sympathizers were growj;
ing pessimistic today as his trial for
wife murder progressed. There were""
many indications that discrepancies
between his own story and the testis
mony of other witnesses, as well asr
the contradiction by Italian medical
authorities of the American affidavits
to the prisoner's tendency to tuber
culosis and epilepsy, had produced an,
unfavorable effect on the jury.
Every time a 15-inch gun is fired
a bale of cotton weighing 500 poundsf
is. blown away, , ,"
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