The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1874-03-20

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= operate esehsrrts Mi,hen, ii y
II ,hns wan'i " hafttt, whita II an.
l.rs in. .lasslss. is#rsstiaatlnr
eifraitsns 1As psras utility il III n,st
i Va, il euahiss IL holder !, nuet
anil ,liFee,l, II l,ause '1e ts'sis n'ar
msnsai,, - e'.,nmrl,lie. .lssiiei, IL
having lissrsn.l, rsrhaaerl stHr
commodity ~ commodities ~ the men.
II, NV, rsnesi,lil,ls into vumntsli
,tt4 Icing Tho highest innr,in and me
IL hi silrs. commodities thus l.eamu .l,u
M = appropriate basis ftlarer none,
Redemption " i,,nlutna n,i.s Iii
commodities ~ services Ia far ltes, i.
allie Il .htir redemption III e.in I'm
eommsli.ics AMI services are useful lrl
a., while the only use IL coin a. none,
Il A. 4 means u obtaining those very
commodities and service. 10 make
specie the basis of the rnper currency u
\ c.untr, II merely ~ increase tho iii.
Iiculty of converting tic currency iutc
ultimate objects VI dchfe
II II were once generally md clrnrl,
understood that manc, H. mere insifu,
,nent TINT facilitates the exchange ii
commodities and services. and TINT til,
grea, 'lerileratnm ri d PAPER crcnlnt.
ihe medium is mt i,r redemption i,
gnll anl silver, but H. redemption b,
(Which ,ucansissneee,'aufr III cxcllang,
FRI commodities and services. the In.
trienrisa 'f tie montiuy problem would
disappear. Let the diversified prolrri,
q tho whole people 10 made tho ba.i'
for paper money, then the circulating
note i redeemed In ~ equivalent part
of Tic basis, everything nash purchase
II made. The holder III the none,
chooses for himself tie Species ~ com,
mnhiiy " service In With redemption
shall tukc place NV |. ma, In lfca,
nr beef. Or rali. anon, elnthipp. iri,n,
nr tools, ngalb. ltseH, machinery, ~
lands tut u oil things fpr nlo Il,
makes biz selection, ~ long il Tier,
II nnlfoken confidence In the medium
a suspension u eauunulity payments
il possible ni'lisnah hhsi- fenr.
need nj IL entertained tLat tile es,
pit demand for il will destroy I'll.
power II eonyc,tllility IL lmt heuu III.
eas. under the gil hafe !, stem la 4,
dola,s, Lusei ~ specie. may PISS free.
y ~ motley n rnf viii, coin, long NJ
Tor lilo authority emitting them la,
ena..J /. be nL!e 10 felrcm tpa IL
gill ~ silver. heeanse the people ear'
not iis fur tho d1es Ut minieI meta
willie tho pal,er Substitutes will IL ae
eeriel IL espliange ior NIL things III
.nlr. finet thr liraH IL mriul eoulil af,
so,npirl NJ more, nnd exercise of the
right II enn,eiiilility would III trouble
without advantage. 70 son, however.
~ The discovery II msde that poieeln-
abiit, IN eain eaisis onl, ~ q promise
that eannut b. performed. tic iars'
dollars rcnae IL Le the .iribIr symbol,
u transferable power, aud lnsp their
uhafaeterss cnrre ley. causing the l,eld
~ sudden embarrassment. md oilu
considerable loss hut whom tho M.
grcgnie ~ commodities III counif,
constitutes thc bnsi. ~ lhesrnpcr MN
~, tho holder II circulating nutr |,
able 10 Test II. eonycrtsbility ever,
time le attempts u mako purchase,
and thus ean acgnaint hlnsclf, Ut M,
moment, 10 his utmost satisfaction
concerning tho soundness or lupreeia'
ton II tho currency.
Constant ani universal confidence
accordingly. u erscntinl 70 maipiai'
tho transferable power u paper MONEY.
This end can DO securely arroml linltsd
BY hedge among tho people, cael 4
AL the others, TINT ho will accept III,
money IN exchange ior all things he lla
t11ell. Such agreement guaranteed
by tho common government ~ th'
sbale ~ ~ A., u rong,c.., would 10
eoue operative throughout, Tie country
md even mandatory throas', tho courts
nlef snel, System, want pfeonfdele'
III tho currency would not exist with
ont srrio,n ,leraIunco In national auth.
ority--a contingency scarcely wostl