The anti-monopolist., 1876-09-07

suchsa loose and uncertain manner ln;1'
the great fact has never found = louse-
ment in the minds Of those VINO nave
written most upon the money ques'loh.
Because OF this oversight, ''the value ol
money has been treated exactly as II THIS
value remained the always same OF
nearly the same thence the prevalent pc
lief that gold always has the same value.
There is Just one way Tor asccrtalnlns
when the value of gold money, or any
other kind of money, is increased or de-
creased in value, and this BY comparing
its prices with the price OF many olher
things. When thete is quite uniform
rise of price in nearly all kinds OF thlngs'
that is, where the same nominal oenonn-
nation of money will buy more t.hss,
then there has been tall in the prlce OF
money and ii the price OF things lall
with the same general uniformity, that
is. when the same denomination OF mon
ey will Guy more things then there mas
been rise in the value OF money. = MS
is the general rule and it would apply 10
gold money, silver money: or paper
money.
Lest We be understood as to what we
mean by the word money, we Will give
our definition, as follows: Money IS
the legal means OF payment" W hatever
a creditor is compelled to take Ia satIs-
faction Of his claim is money, and what
ever will not paya debt legally IS not
money. The dividing line IS the legal
tender. Gold is called real money SIM
ply because so many nations have made
it their legal tender, and for 10 other
reason whatever.
j When gold is the only tender OF ma
ton, then everybody who contracts d
debt simply sells gold short. This IS the
effect OF the operation. At the present
time there is Il gigantic corner IN the
gold market, which has been engineered
Dy foreign bankers principally who have
induced the German Empire and the
United States to so leglslate as to force
this corner to collapse some three or tour
wears hence. The first move IN this gl-
yantic cornering operation was TO induce
Secretary McCulioch to call in, tune, ,and
al! interest bearing obligations OF the
United States Government that had been
used as bank reserves. This destruction
compelled the banks to replace these
interest bearing notes with non lnteres
bearing greenbacks. lhls contraclee
the currency in the United States. 1h'
result was that the people who had peer
buying and paying cash soon found th'
. money was getting tight havingt goo
credit they began TO run into deol IN
, contraction of the currency cont nue.
they could not pay their debts, and j
1895 this plan OF robbery culmlnate
when the President refused to make
temporary issue of greeabacks to NeS
York banks on government bonds. In
, panic followed and we are iamlllar wit
all the rest.
Over in Europe this gigantic schem
, of robbery took Il different torn, bis
: marck, tor some unexplained reason, de
monetized silver, and the Bank Of Ber.i
entered the list and began to hoard golc
The bank of France was also engaged i
pilng up its gold reserve. The bank
England, from necessity, is compelle
: to do the same thing. These thre
banhs5nave Withdrawn from circulatlo
and locked up over OUO,OOO,OOO Q
gold coin dnrlng the past three year;
Although the process has been hid b
; different names and under different IN
genious devices. in effect. it has been
/ contraction OF the currency, Dotn
: Europe and in this country, and tni
, contraction has had the same elect Lott
in America and in Europe. TINS tle'
has been ruin. wide spread and uniyel
, sal. Ine contraction OF the cuIrenc'
r disguised it is true. Dut nevertheless cor
r trac ton pure, and simple. dlshonesi.an
g vliliauous.
: This leads Us 10 the considerat on
t the remedy. The great point to
5 AIMED at in establishinga currency il
: prevent corners. 1t gold is the on
S legal tender, and as all debts are Il
e same thing as selling gold short, the
t gold is the worst basis tor = currenc
$ simply because the volume oi gold
J, the world is ALWAYS 50 limited as to
n liable to a sudden corner. II we broa
4. en- TIE base and make both gold and 81
yer Il iuil legal tender. tAeu Dotn 20
and silver must bc cornereI At the san
tIrae. ii order It'd corner the money ma
;. Kit. Tor II gold alone i, then cornered,
:. soon as It's price starts up people pay )
= yer aud the corner breaks hence it
:" laa, France with a protective tariff u
q the double standard u gold and >l.ye
:" doari,ne>. wasrea. England with il
= free trade and gold shacAles now u
in fear oI her industrial ruin. - i,
stands upon the vtrT brink III aati0l
bankruptcy. france Aas always Gu
10 project on aat tae l3ub.e stanIal
II irom 1ol0er,s da. t1 this. AMI she !.
IN prospered because tile system accol
&c with the tact, II. experience. sound RI