Independent League du lieu suivant : Emporia, Kansas • 4

THE INDEPENDENT LEAGUE. 56 for coin during the Rebellion it is obvious that had treasury notes been receivable for all purposes none would have been compelled to pay a premium for "Gold." THE LAND-CURRENCY CREED. I. Money is necessary to society. II.

Money being a necessity, society must suffer if it be not readily obtainable. III. Money is not readily obtainable while national currency commands interest. IV. Money is a legal tender token representing property-value therefore, any suitable form of property-value should be entitled to a money representative.

V. Suitable forms of value are those that are At this point in the discussion we wish to add in explanation of our advocacy of the Land Currency Bill that the measure was prepared with a full appreciation of the fact that there are other serious social evils to be corrected, in their turn, besides the monopoly of national currency. We are urging the adoption of the Land Currency measure upon the ground that it is the most practical measure with which to commence the work of social reform. Its chief claim to practicability is the fact that it is defensible from every point of attack. It is a just measure.

It is a measure which will be approved by every honest man when its character and possibilities are clearly understood. NR. MAYBELL SPEAKS AGAIN. If one-half of the land value of California was mortgaged for two per cent, at the Government Sub-Treasury or at a bureau designed for the purpose, and the Government received the interest thereof, all taxation -would cease, while interest itself would be reduced to a nominal rate, allowing margins for projectors of industries to successfully operate. This last item in itself is one of vast consequence.

For the interest saved would be 6aved to individuals who actually employ labor, and therefore would be so much financial strength remaining with them, now taken from them, and leaving them in many cases bankrupt, throwing thousands of persons out of employment. Thus the farmer, builder, manufacturer and projector would be relieved of the usurious burden which has pressed so heavily on their margins, until nothing has remained to them to sustain their energies. For heavy interest crushes manufacture and building as it crushes agriculture, while plenty of money at low interest awakes projection, employs industry and leaves wealth in the hands of they who produce. There are 6,000 takers and 60,000,000 makers. The takers now hold the mortgages, draw the interest thereof and thus tale.

Let us 60,000,000 makers turn the tables upon the takers and reverse the system IM us hold the mortgages and draw the interest Then we, the makers, will become the takers the takers of our own product, for the process by which it has been taken will be reversed. The product will flow toward us, where formerly it flowed from us. And this, too, without the change of a law, scarcely the making of a law, save a bureau where land is coined for currency. We have been digging down into the bowels of the earth after gold to get a value to coin. Here we have a value beneath our feet, more valuable far than all the gold we have ever dug.

Let us coin it. If anyone desires gold let him dig; but for the sake of humanity and humanity's progression, let us not stop our buildings, farms, workshops, and the ragged starve, waiting for enough of this saffron gleam to give us a medium to work with. Let us coin this that we are standing on Old Mother Earth, herself. Her values, when coined, will relieve us of taxation, relieve us of usury, and abolish their unjust takes. Stephen Maybell If San Francisco, in "Land Currency.

THE RIGHT RING. generally distributed. VI. The form of value which pre-eminently fulfills the requirements of a money basis is productive real estate. VII.

A national currency that commands merest is the primal cause of poverty. VIII. A financial system that will abolish interest will abolish poverty from among the-industrious. IX. Land Currency will abolish interest.

Ellwood City, May 2, 1S95. The Independent League, Emporia, Kansas. Gentlemen: Please find enclosed fifty cents, subscription to your paper. Also fifty cents for the four books by Mr. Holden, Metallic Money and Hard Times." The Law of Legal Tender." Government Railways." "Scientific Money." I will circulate your excellent and wise paper.

The most practical movement toward reform yet proposed. Yours very tauly, Isaac Broome. Those who think that in the present state of the public mind a new monetary measure can be put in operation in the United States which cannot withstand the attacks of conscientious critics, are harboring a delusion. The people are seeking a just financial system and they will have none other. The new system may be a radical one if it be defensible.

Suppose the more intelligent of the producing classes of society should discover that the mone- I JU-WVI- YUlUlQ VVUUIU 1 lillillltltl 11 JT Ml 111 the relief for which men. generally are praying, what would be a rational method of securing the enactment of the proposed Land Currency. Bill? Should those whose interests are indentical unite as citizens or divide as partizans? A PROPOSITION: That you aid us, reader, in disseminating the financial truth we are promulgating. That, with a view of promoting your own interests, you send us $5.00, with the address of twenty of your friends throughout the country, to whom we may send the Independent League regularly we contributing the remaining $5.00 of the subscription rate. What say you WANTS LAND CURRENCY.

Cincinnati, Ohio, May 2, 1895. Editor Independent League. Dear Sir: Your little paper meets my view. I have no faith in silver legislation or any other monetary reform that does not strike at the root Usury, A Land or Realty Money is a liberator. I send you by this mail my pamphlet, "Realty Money." Truly, J.

Murray Case. Coin's Financial School is doing a mighty work, not however as its gifted author imagines in elucidating the financial science, but in awakening the public mind and preparing it for the reception of the true philosophy of money. IF YOU HAVE READ 44 Coin's Financial School UNDERSTANDINGLY, And are getting Interested in the Financial Question, You should now Read Efflll PROSPERITY 1 CHAPTER II. Monetary terms defined Money vs. Currency Money not the common medium of exchange The dependence of society upon the banks Bank-credits the common medium of exchange An illustrating of banking methods Bank-credits the commercial equivalent of currency Statistical table showing with what exchanges are effected Interest, society's arch enemy How it is generated A new money system indispensable A new truth proclaimed Interest for the use of money, not compensation for the use of capital Evolution in finance essential to prosperity Three thousand years of financial darkness- Why currency commands interest' The disastrous effects of Metallism.

CHAPTER III. The quantitative theory of Money a fallacy Money not the 'measure of value' An accepted the ory demolished The Mill-Ricardo theory and its distinguished advocates Quotations from eminent political economists Unwarranted assumptions refuted How value is measured" How ability-to-purchase in the masses is destroyed The primal cause of low prices The ceaseless interest-drain that centralizes wealth The enormous indirect interest-tax paid by consumers Actual increase of the public debt Statistical table. CHAPTER IV A concise definition of money Monetized wealth vs. wealth Only two and one-half per cent, of the nation's wealth monetized for exchangeable purposes under Metallism Justice demands the mone-tization of all elligible forms of wealth at the will of its owner Two methods of monetizing value The artificial valuation of the precious metals under the present system An Act to utilize Land Values as a Money Basis A money system proposed which will abolish interest for the use of a circulating medium Full text of the measure. CHAPTER V.

Land Currency A faultless money system A flexible currency at a nominal cost A scientific solution of a vexed question Fonr irrefutable propositions in support of the new theory A convincing elucidation Objections considered A financial system which would benefit all and injure none The creditor's interests considered Debts now payable in gold, would, under the proposed system, be payable in a legal representative of wealth Statistical table showing of what the nation's wealth consists-Conclusion. APPENDIX. An Acknowledgment The Torren's System of Registering Land Titles. ADDENDA. Only 40 Pages Price 15 Cents.

Address this Paper. MR. HOLDEN'S ECONOMIC WRITINGS. Sent post-paid upon receipt of price, viz, By JAMES D. HOLDEN.

This book teaches an entirely new theory of Finance the True Philosophy of Money. It exposes the fallacies taught by 4 Coin," and clearly demonstrates the truth of the following propositions: 1. That Metallism makes Usury Possible. 2. That a Commodity Unit of Value is an Impossibility.

That Money is not the Common Medium of Exchange. That the Currency Volume does not Determine Prices. That Interest for the use of Money on Secured Loans is Pure-Tribute. Read the following table of COSTTE1TTS. Metallic Money and Hard Times 25c rm 1 T.

1 CHAPTER I. Currency Its magical power Ignorance of its nature primal cause of poverty ddisons pothegm The popular definition of currency amended Money made plentiful or scarce by act of CongressPresent currency issues explained Fallacious financial theories dominant The President's K.ew Its sophistry demonstrated The Gold redemption theory analyzed Why money circulates on gold over other legal tender, impossible. ine Law di iegiti iciiuer iuc Government Railways 10c Scientific Money, or Prosperity Through Legislation. 15c Four to one address 50c.