The daily Argus. (Rock Island, Ill.) 1873-1877, 1876-07-31
INDoRsE THE PLATFORM,


however,"
Certainly. can't see any harm in it.
1t may be good thing"
The finance plank, you mean?"
We'll, yes, I'll tell you | haven't any
opinion of finance that could feel justi-
fed in examining down anybody throat.
1t is question that has vexed the world
in all times and in all countries, and, pos
sibly, will never be settled. The hard
money men say that the circulating me-
dium should be based on a substantial and
fixed value, How are you gong TO get a
basis of that kind? Gold and silver won t
do it. They'll tell you gold and silver are
coined in certain weights and in pre-
scribed quantity which is the same the
world over, aud that dollar of gold or
silver coin has a fixed intrinsic value.
Now, il that is so, how does it come that |
can go into Chicago and buy a dollar in
in silver for 81 ,03 in paper, while for a
gold dollar I've got to pay $l,l3? If the
basis Of the coin is fixed, and If the two
being both dollars are worth in actual fact
one just as much as the other, how does it
come that in round numbers 10 per cent
more is charged for gold than SILVER?
can take the two dollars anywhere in the
world aud buy as much with the silver as
| can with the gold, and vet they are OIL
different values here. There is no fiXeC
value to the basis of currency. | dom
see why an interest bearing bond thai
would bring the debt Of the people home
and distribute it among the people, isn't
better than an une1ually valuable metal
lie basis. Do you?
Don't interview me, Mr. Steward
I'm interviewing you. If you are crucifet
let it be out Of your own mouth, no
mine.
"All right. don't see of what use
NATIONAL BANKS
are. They've never done any good, bu
4 they have done good deal Of harm i
complicating financial matters. | thinI
! they ought to be wiped out. Streetor'
instance over at Decatur the other day, G
o the two boys going into room and get
l ting rich by swapping jackets, don't offe
= parallel case with this interminable bon
Of wickedneSs. The jackets would be a
! ways the same, but the bond would b
always paying an interest. 1t is Just a
though | were to take neighbor's interes
note for loan; only, instead Of taking III
, neighDor note, here take the note c
c the country at large. l'm satisfied wit
y the security it is based on the property {
!, the people. The great bulk of the e1
|, changes in this country are conducted O
4 Individual credit. | think hardly les
!. than % per cent,-call it 90. per cent
!. the tariff aud exchanges of this countT
r. are conducted on individual credit; ii
!, other 10 per cent. is conducted on the na
~ tional credit, if it is done with greenback
II If individual credit will conduct min
tcnths of the exchanges of the country.
- not the national credit good for the otht
70 teuth? This Dine-tenths is conducted
m not exceeding one.tenth of the populatiO
,r and generally by the shrewdest classes.
70 think the proposition will hold good tn
n one-tenth Of the shrcwdest class OF t
:. population conduct nine tenths of the e
NJ changes OF the country on their own inC
20 viduul credit; the masses conduct I
| other tenth on the government credit.
m think the medium of this one tenth of c
10 change should be as simple as possib
II aud uniform; it is the poor mans Pre-
a erty-the exchange medium Of the mass
NJ that this government furnishes. To sta
or II briefly | have no hesitation in sayi
m that the national banks should be do
il away with. Nor in saying that the cot
try should have circulating mediu
m equal to the wants of its business; nor
no saying that it should be as uniform and
m simple as possible; that | look upon t
no circulating medium as being really I
no Concluded on next page.