Ka Leo o ka Lahui, Volume II, Number 394, 22 February 1892 — FINANCIAL. [ARTICLE]

FINANCIAL.

(No. 4.) Under Bueh etreamBti&eeg as Uieee it is tb« dnty and privUege of tbe goremraef)t to «tep in Abd adopt sucb fioaoei«l mmmmi lo reiieve U»e rtringetiey iii inerket and us»t lb« hoawlMkk ai»d the farmer to protest his home and fai« induBtrr froiu the rapaoiouBnesfi aad ueuroue aeeemoaenia of the ur»ooTitrolled capitalist. Eveary tnati shouid have equai ehaoeea wHh his securittee to ohtain tbat { unusually neoeasary rommnditj— | money—free from the indignitieftj and caprire of th«t sou)le9(R motiey ! iender j What then ahail be done to amelinrāte the situation here? The; firBt and moet preemtnent neeessity j 18 to obtain morc: availab!e eapiinl. This wou?d not be a neceSHĪty. h*d the miliiona of 'jullara whieh h«?e been inaie here iii sugar been re* taifted for inveatment in this coun> try, Butour avarictous and un-1 patriotic sngar men have invested | the hulk of tbeir profits in foreign lands Ktid kft bere a void of eapita! whieh is a serious handicap to the borrower, a draw back to all projected enterpriBeß. and renders impoBsibie the deve!opment of our iiatural reeouroeß. How ahall we obtain eapiial and how shaU it be applied. The govern ment in the legitimate ezercise of its priviieges ar»d of its duties to the people shouid be au' thorized by the Legisiature feo negotiate a loan up to a eertain fixed limit.for a certaior specified object. Pirst to the encouragement of raii* roads, homealeaila, repopuiati#n. and the encouragement thiough an agriculturat bureau of div*rsified farmmg iudustriea» and faciiitating the partition and oooupancy of the pubiic lands for this purpose. Tbe beneficiaJ reeult from sucb a judicious invesment of the .funds are too evident to need further e<ucidatiou. |; The secotid object whieh we bave in view to whieh *Buoh a government loan shouid be devot*. ed is the estabiishment of a bur*«u in the Depart:uent of Finance to |be known as the U»nd *oan fcureau. The objeci of this boreau wmild be to loan out money to fannerB or Und-owners at a low fixed rate of interest upon agrteu!* tural !ande or bomest4Mids in volunie equal to one half tbeir aaeeaeed valustton, iodependent of per ishabie improvematB. Their eeheme is eometbing simi!ar to that whieh tbe fam>erB of Amenoa are cianM»tng for, with the better

HNrlt hmmim, ihai «• eeeomewed iotBi ©oly apM iaod, «wl that aeiual ooio» or Ii» papee lopwwii» Vtiv6 be uaeel, rather iban a fkU\ correncv issued on tbe basis of ibe of tb« land. A fiiiancial aohem* of ihu kiod prsf>vid© aburidaace of .. for ail kgtiimale noodt, aod vooid: ! reoder ihe peopk indepeodefii of ) tbe penonal 6ivor of ilie a»0f0 i ihaii ollen oppreseive mooer le©di er. Every man wiiii [ wmM hav* eq«aai ngtt io eater »tfee go*erai&6tit bureau, and wUb ilie p»f»«ii of a fev inexpMßfe| l*e, ehiaio a lo*o-oo b» kmd ai am»p*i»ilfoij ioir.vmU ef£iot*r-j «0l *od «iilMmi txUxium wonUi kai%k eqoal priniege witb every other eīiiien, and. thexe •wopidhe&oo*ed to hk» mMmkr *»y tswmfamp TtoUm*%mwmsby whn» ihe Me«3r4mi6f» *ed eopiiaikia «9* io oMoepoUie U» oae of mooo?. <tk a B6mj oomtoodiiT aod ii b ooi ju*i ikai any dbi» of md ihould bave ike oower to exlorio«tirm iotereet froio bonowers t aod aaa MMiii, toentaii bookrupiey aod rtiin. The todttoiriai claBses havea rifbt to &sit «ihe »ation to empkw ite meooroeB eod emiii in aid of ihe todoBiry aod enierpriee that arieee otily fro» lebor empk>yed m agricuitural and co«nmercial ii.duBlnes, wiihoui be« ing hantiicapped by ihe arbtirary wiU of trreaponsibie money ieuderB.