The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1878-04-15
What Constitutes Money"
- STANwooD, April l3, 1873.

STANWOOD, Aprll ID, 1919.
Ed. INTELLIGESCER Il read with
considerable interest the article under
the above heading in the weekly of
April 6, and signed M S B." Not
that agreed with the writer at all, but
because of the importance Of the SUBJ
iect, and because discussion awakens
thought, and thought educates the in
tellect. | have cut out and sent TO Col.
Fitch, NJ. B. SIS article, IS it will he
cheering to that gentleman to learn
tha. the United States Monetary Com
mission in 1873 "adopted his ideas in
full upon the monetary question" By
my latest adyices from him, we may
expect the little giant before long in
this Territory. We need his compre-
hensive brain to formulate State
policy in regard to the Seattle & Walla
Wslla railroad. Perhaps he may join
in this discussion, as he cannot leave
the money question alone. If he does.
look out for fun, for he is no dress pa
rade soldier, and in the field of debate
he is without fear or favor, asking and
giving no quarter. First and foremost,
all honor to those papers that uphold
the common standard between man and
man in this fight, and advocate the
same currency (bimetallic) for the high
and low, rich and poor alike. To this
class belongs the INTELLIGENCER. The
weekly Oregonian has bowed its vsssal
head for its mess of pottage. In this
fight, l say, the battle has just begun.
The same power that forced through
Congress in 1867, law making fifteen
hundred millions of Eve twenties pay
able in coin; and that Act, said Sena-
tor Morton. Stands alone by itself the
most stupendous crime Of all history"
and then in 1878 demonetized silver by
stealth, cunning and fraud; that same
power still lives to subsidize the lead
ing press and manufacture public sem
timent; still lives to struggle as hard.
by finesse and strategy, to strangle one
half of the circulating medium of the
country. And why; Ga son of Adam?
First. the owner of gold. by decreasing
the amount of the medium in circulation,
increases the purchasing power of gold;
or, in other words. increases its value.
If all the men who have Early Rose
potatoes for sale, could by some leger-
demain cause every other kind to rot,
would they not increase the value Of
the potatoes that they owned? This
was the reason that Austria and Ger
many demonetized gold in 1857.
1t was argued by Chevalier and
others that on account of the tremen-
dous influx of gold and silver from
California and Australia, they would
soon depreciate in purchasing power,
and one of the metals must be
demonetized. and they picked on gold.
Gold, the great god of the New York
Tribune. and the Anglo-American gold
ring-yes, this same gold, that they
would have us believe must be the
only money of this country if we would
not return to barbarism and plutonic
darkness, is actually demonetized to-
day in countries that aggregate popu-
lation of over eight hundred millions of
people. can produce the figures, if
necessary. Again, gold and silver is
the currency of more people than gold
alone. What now becomes of the
reason that because Germany demone-
tized silver, that it is most certain, aud
necessary, and inevitable for us to fol-
low suit a? NJ. s. B. fears that he is too
radical for some minds. Dig again, my
friend. Is there not something that
gives power of money to gold. silver
or paper. besides statutory enactments
Let tho trainers of our new Censttu-
tion see to it, that no legislature can by
statute empower any banking corpora
ton to flood the market with shin
plasters and draw interes. on the Same,
and ready at any time to repudiate
when the people want the collateral.
More anon. TERAD.