Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1877-07-12

!cot'AeAC SCucuc. Ills Is uuc uOt dlOAe
to editors but the fond holders themselves,
and to the people at large, and
| it should be done in the most thor.
ough and exhaustive manner. Let Us
have an Investigation.
THE MONEY QUESTION.
Now that the Presidential controversy
is decided and thespolicy of the executive
known, the people again turn their atter-
ton to the financial question which Is
really of greater importance to the county
than any other now pending. All classes
are interested in having good currency
and one Of stable value. Politicians for
get their differences of theory, when con-
sidcripg questions having only a pecu.
MARY significance, and support such
measures alone asscem to promise results
to the greatest degree in harm ony
with the interest cf each. In
other words, all parties, as par
ties, arc affected equally by what
ever currency system the government may
adopt. Politics then, Can exercise no pc:
tent influence in determining the char
actcr Of our money. There are two great
classes IN this country, one representing
largely its capital, and the other its in
dustries: 1t is the purpose of the first to
grow rich through the employment OF
Accommodations, and of tEe second, by the
application Of labor to the different in
dustrial processes to create wealth. The
capitalist wants the gold standard of valaS
because the scarcity Of gold enables HIM
to own and hold it as commodity-put-
ting his own price upon it, and thus to
compel the industrial class to pay and
suffer as loss whatever sum the specula-
tor may see fit to charge for his gold dol-
lar in excess Of what he is w!ll7ng to 81
low for the same denomination IN cirrsr.
cy. The amount of gold coin compared
with the amount Of currency in circula-
! ton is il the ratio of (abouD one to ten
| and it can never be greater owing to its
scarcely. How absurd then the idea that
government will ever "resume specie pay
ment" If the nation owes 500, and has
but $40. in gold she can't pay but $40:
and to "rcsumc specie payment" IN REAL
,rY, would be to discharge all her obliga-
tons at ten cents on the dollar! We are
told, however, that the "Gold Standard,
people don't mean what they say, exactly;
that instead of making payment in specie
they mean that payment should he made
in currency, but in currency BELOW
PAR, not because the currency is worth
less for use, as money, but because gold
being the "standard' and its owners hav.
ing seen fit to hold it ut a premium, the
currency holders, or the debtor class,
in mating payment must lose sum
equal to the premium charged for gold.
This is all wrong. Money IS not wealth
1t is mere implement the use Of which
is authorized by government for the pre-.
motion of the public interests, and since
each individual is a factor of the whole
corporation he has right TO a kind of
money which shall not suffer depreciation
by comparison with any standard"
Otherwise the government itself becomes
a spcculator upon its own credit-dis.
eliminating against labor for the benefit
Of capital, aud imposing grievous bur
den upon that class alone whose industry
is the real source Of all national prosper.
'|ity.
What this government needs is q
paper currency issued by the au-
thoriiy of law, Of uniform value
and made legal tender for everything:
The faith of the nation pledged for its
maintenance will be sufficient guaran.
tee that It shall always meet the exigencies
for whicE It was issued, and will secure
for it the respect and confidence of the
world:
This money should be placed within
T the reach of all whose financial ability
, may enable them to give security there.
for, and such should be allowed to have
the same at 4 rate of interest not exceed
ing the cost 10 chc government of making
and maintaining it in circulation. This
would place gold so far as it exists IN the
form of money on par with currency
and relieve the industries of the excessive
tribute which they now pay to accumu
lated wealth. Until this is done there
y need be no hope of relief from the pres
y ent financial DEPRESSION. The rich BY
: SYSTEM of lcgalized robbery are absorbing
) the proceeds of labor, enervating them
y selves by luxurious living and degrading
the working classes to condition it'll
better than actual serftlo1r ...
This condition of things mist be fcla1
n edicd. There il degree of pride and o
Il Intelligence anon the masses in thi
country sufficient to make them asscr
5 and defend their rights and if they cann<
l. succeed quietly with the ballot, they vii
>; resort tio'th* exercise Ct mans pr imal rigl
the employment q physical force i
s self defense fla te75luiish il busine.
* cannot he effected pcaceab1y by legisl
rs ton, it will be accomplished IL so11!;
= other way, fmllab + in thi. corn T. v
ne not always submit TO tic tyranny of G
i'al., .>. ill.,.
Z. +.