The Jasper weekly courier., 1877-09-21

grcss The right 10 coin money. This I'LL
iea cnsly guarded as one OF the prerog-l
at ~ " the Supreme Government
Throughout the civilized world. Ouil
best writers on constitutional law agree
that the phrase ITO coin money applicsl
10 paper ss well as metallic currency.
| Judge Farrar, In Ais Manual Of the
Constitution section 5ss, says:
Congress i, not restricted as TO t'AeI
materials they ma, make use OF. or their
worth ~ value. independent Of their au \
ihorized use as money, nor Is II required
lihat they should have any such value
Even the operation of converting them
into money Is described only BY the verb
TO coin which. if il means anything inI
addition 10 the act Of converting IL into
money, includes only the Government
stamp. by which the act Is authenii-I \
Gated
Daniel Webster. vol. 4, p. 3i5l. says /
1T i clear that the power 10 regulate
commerce among the States. carries with
I, il. not implicitly, but necessarily and di n
recily, full power OF regulating the
essential element nf commerce. namely
the currency OF the country, the money.
which constitutes the life and soul OF
comnrrcc.'
! Ia his Money and The Mechanism Of
Exchange p. sl7, al scquiter, Prof.
Jcvons SAYS:
'''l'le issue Of notes is more analogous
10 the royal functions OF coinage than 20
the ordinary commercial operation of
drawing bills. We ought 10 talk IF
COMING NOTES, as John Law did. for
though tile design Is impressed on paper
Instead Of metal, the function of the
mote is exactly the same as that Of rep
lrcseatniivc token. a. 10 the right 10
issue promises. il no more exists than
the right 20 establish private prints. A
almost every one has long agreed 10
place tie coinage OF money IN the hands
lof tie executive Government, so | be-
Iiieyc that tile Issue OF paper representa-
tive money should continue 10 be prac-
tically in tile hands Of the Government.
Tor is agents. acting under the stfictest
lieriSlative control"
\ ln what respect is money issned by
National Banks. on the credit of the
Icountry, better than money issued di-
rcetsy by the Government Why lock
Imp ia National Banks tiyc hundred mil
n lions vs dollars which ought 10 be ri
work. employing labor aud paving tax
e<. Why should the Government pay
these banks thirty millions Of dollars Il
! year interest on bonds held for the re.
) iempiion or money which the Govern
Z mcnt itself should Issue? II Is Gun
! lniug system which robs taxpayers fOI
I tlse benefit Of The rich which onghi
TO be abolished. The Government
should call in at least portion of il,
bonds, and issue in their place all tbs
money needed by the demands Of an ac-
r Tive business. This money should bs
!, made a legal tender for al dues Il
I, the Government as well ne from
! man TO man. You would then have ns
. nccd for gold except 10 take to foreign
. countries. And a. the balance OF trad
!. l. In our favor gold wonld accumulate
\ The Government should keep In rescrv
+, a sufficient quantity Of coin 10 cxchang
: for paper money with all who need il
ri This money should be made conveltibl
4 into bonds. bearing a low rate Of inter
y csf. in sums OF from twenty-five dollar
a upwards. This would give rs flexibl
Il cislrcncy. Ii would not then be in ih
3. power OF unscrupulous men or corpol
: aiions TO bring on financial crisi
|. whenever they choose. Our ciIrrenc
II would rest upon the entire property Q
l. the country.
r ltis asked: "What right have We :
n a nation. or as any bank. or individual
[c 10 force into the circulation as money j
II notes upon which il pays no interest
i We answer that right belonging to N
"A nation is implied in the right 10 col
"A money. The very idea of Govern
NJ ment implies rights which do not belon
Ia 10 the individual.
H. 3. Repeal the bankrupt Law. II
he cumbrous and expensive. II disturb
g. business by injuring credit. II encou
pt ages wild ventures BY providing an en-
"a escape il case OF failure. IL divides Il
Is dehior's assets among the lawyers; &c
nd orally leaving the creditors but q
or me,ost pittance. II should be at on
or repealed.
'er 4. Remove Restrictions upon Forci.
", Trade. | have been lifelong prote
~ ZIONIST. Bnt protection IL no long
~ needed. We already manufacture mo
ue than we can consume. We must op
nc foreign markets. III we expect oiht
to buy u, we must buy Of them.
az Aud We need also free trade to pI
ne iuce an equilibrium Of values among
~ Prices are regulated too much by az
me fetal combinations, and too little by I
Y Inafurni method of supply and demar
~ Manufacturers cpnspire To raise the pr
INC of their goods, aud the workmcn C
~pirc 10 raise the price of their lab
ur- These combinations possess most Of
nj odinu1 fpultlrpg pf mOnOpolv. Th