Money is the creature of law and the creation of the original issue of money should be maintained as an exclusive monopoly of National Government.
Money possesses no value to the State other than given to it by circulation.
Capital has its proper place and is entitled to every protection. The wages of men should be recognized in the structure of government and in the social order as more important than the wages of money. No duty is more imperative on the Government than the duty it owes the people to furnish them with a sound and uniform currency, and of regulating the circulation of the medium of exchange so that labor will be protected from a vicious currency, and commerce will be facilitated by cheap and safe exchanges. The available supply of gold and silver being wholly inadequate to permit the issuance of coins of intrinsic value or paper currency convertible into coin in the volume required to serve the needs of the people, some other basis for the issue of currency must be developed, and some means other than that of convertibility into coin must be developed to prevent undue fluctuations in the value of paper currency or any other substitute for money of intrinsic value that may come into use. The monetary needs of increasing numbers of people advancing toward higher standards of living can and should be met by the Government.