The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1874-05-14
THE CURRENCY.

the business or FuDushlng lisG VI tx
goanslon" and "anti-expansion" Journals
since some of the absurdities and errors
of its lists were exposed. It professe to
have found but two papers among all its
exchanges from this state that opposed
e'expansion," and yet we named about e!
dozen such papers in this state which
must be on its list and besides W showed
that the GAINESVILLE Gazette, which it ha d
in its expansion list, was emphatically On
che other side OF tue question. The Keno
,sha Telegraph, another paper which Che
Inter Ocean placed on its expansion LISTS
in favor of specie currency alone, while
most of the imitation journals la We vsibly
weakened since the veto, and are not half
as eltain as they were that all unlimited
amount OF irredeemable paper currency IS
an unspeakable boon.
The Wisconsin is mistaken as to the
KENosHA TELEGRAPH. We are not in
favor of specie currency alone. We alel
in favor of government currency alone
We ale in favor of currency by the peo-
pie for the people and the government.
We are opposed to currency by corpora
t1ons. We are opposed to bank currency
for the people and the government. We
are in favor of currency of money We
are opposed to currency of promises to
pay.
We are iu favor OF coming money sufi
Gent to meet the requirements OF the peo-
pie as representative of value and a me-
dunn of exchange. 1t matters not,
'except for the purpose whether
the material of which money
is coined has intrinsic value or not.
Money may be coined of gold, silver, cop
per, nlckel, cotton, wool, silk, or any other
material which will answer the purpose.
Sold has intrinsic value as an article of
commerce. As money, it has no value
until it is coined and its money value i'm
pressed or stamped upon it by the author
fty of the people acting through the con-
stltution and laws of the country 1t is
the coming and the impress and stamp
10y authority that gives it value "a money
And the same authority that Can coin
money of nickel or copper, silver or gold,
can coin money of paper,or any other ma
terial that will answer Inc F~'r"ov.
Gold money has two or three adyan-
tages over paper money. IL has Intrinsic
value. and if it snonld become valueless
"a noney it has value rs an article of
commerce 1t has value as money in for
eign countries which paper money might
not have. Ard fir e and water would not
destroy all its intrinsic value.
Paper money for home use has some
advantages over gold money It is more
convenient for use except in small sums
and for change. There Is no loss in hand
ling it while there is considerable loss
in handling gold. And when paper
money is made, as it may be, of paper
which water would not we. and fire.
would not burn under ordinary clrcum-
stances, it would have additional advar-
'ages.
As between bank notes AMI treasury
notes we give decided preference to the
latter. The treasury can and will redeem
all its notes whether the banks redeem
theirs or not. The banks can not and
never will redeem their notes unless the
treasury redeems its notes. We would
aave no banks of issue. We would have
free or government banking under proper
regulations, for deposlte, discount aud
legitimate banking business.
The real controversy between the ex-
pansionists and contractiouists is between
q government currency and bank cur
arency. All may not fully understand it.
Some may be acting wiser than theyknow;
'Cthersmay be acting less wisely than they
%hink they are. We believe those in favor
ofthe expansion OF the currency are in the
right. Judging from our own immediate
surroundings we are satisfied that there is
not currency enough. Aud the banking
facilities Of Kenosha are scarcely one
quarter what the Legitimate business tra1s
actions Of the people would require. And
what is true Of Kenosha in this respect
we apprehend is true to greater or less
extent of most western towns. Business