The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1878-04-30
Effects of Annihilating Money

Ed. lNTELLIGENCER M. S. B. asks
will not Terad tell the public wha,
that something is that gives power oil
money to gold, silver and paper besides
statutory enactments ?" Certainly; We,
with all due modesty, because many
distinguished men have the honor 10
disagree with me on this subject, inclu.
ding Wendell Phillips, Denj. F. Butler
and Col. Fitch, and because it is nc
satisfaction TO ME to clutch a weapon to
deal blows into our own ranks. Our
+ energies are needed to combat the com
mon enemy, as Perry said at the battle
OF the Lakes. to "rake the deck Of the
/ foe Watch them while they are
/ awake. and don't trust them while thew
sleep, for tyrrany of late has cunning
| grown.
| Broadly stated, there are two classes
/ in this fight, the contractionists and the
expansionists, called by many the gold
men and the inflationists those who
seek to cripple and reduce the circula.
| ting medium, and those who demand
/ that it be furnished in sufficient quaint
| ties by the Government to meet the de-
mands of the people. To the latter
class belong the legal tender party In.
7 flation is much abused term; it is
used at present as can't phrase b,
! cunning caught and spread, to vindicate
| the wrong and warp the right, and
make sad havoc with the nurselings
/ The Rothchilds and Bonanza firm don't
/ scare worth a cent; they believe IN
! plenty Of money. In fact-shall So
/ it so do most Of the contractionlsts,
for themselves; it is somebody else's
OK they want gored.
! The power OF money" is its pur-
: chasing power. The purchasing power
/ OF gold and silver depends upon their
! valuc The value of gold and silver
depends upon the cost Of production
| This is the first grea. law. aud their
usefulness. DemonetiZe either gold or
silver and its usefulness is limited and
its value lessencd. They have just
passed a law in California, taxing the
certificates of mining stock. When
issued or transferred, it brought into
use the ten cent piece. which was at a
| heavy discount. and its value went up
! Immediately. The value of paper
money issued by the Government de-
| pended upon the interest it carries, the
terms and chances of its redemption
and the extent of its usefulness as @
! legal tender. The greenback never
was full legal tender, as the Govern
mcnt itself refused 10 take it at the
| Custom house.
| 1t is iucipient insanity or blooming
rascality TO dcnounce every system OF
| paper money as productive of no good,
and tending alone to wild speculation.
! and the unsettling of values, and the
disorganization of industrial persuits.
| There are times when the issuance OF
paper money by the Government is an
utter and imperative necessity. Paper
money was good enough 20 carry the
country triumphantly through the
mighticst rebellion that ever strove to
| destroy nation or a world even. Is
| there no longer any necessity for its
use? Can any considerable amount of
the many millions of paper money now
| in circulation be withdrawn without
| reacting with terrible effect upon the
/ industries and business of the country /.
! what has been the result of the con-
/ traction the last few years Ask the
merchants and manufacturers read
/ the long list of failures, year after
year, ask the unemployed, ask the his
,orian, who is writing the cause of the
rise and growth of "trampism" In this
republic. Ask the serf rising at Pitts
burg and calling for another Thierry
to record his struggle. What does a
scarcity OF money mean? An advance
of interest What does an advance of
interest means An increase of the
cost of production. or a decrease ia the
wages Of the employee. What does an
increase in the cos. of production
mean d? an increase in prices. and de-
| crease in consumption or demand. A
decrease In consumption means over
production and idle men-.ires put out
ana idle looms A decrease In the
wages Of the employee means y de-
creased ability to purchase, therefore a
decrease in consumption. Therefore a
rise in interest means decrease In
consumption, idle men. poverty.
tramps, prostitution and crime.
Idleness is the parent Of want. Pow
ertv is the great dcmoralizer, hasten
ing impending ruin Who dictated the
aupointmert Of sherman, aud the pol
lev of contraction. while poverty and
want is stalking from ocean to ocean,
and the tramp stretches his weary
limbs along the highways and byways
of the land. anil dreams Of the free and
mighty manhood OF the fathers. wakes
tn beg aud steal what he can. and turn
20 his dreams again?
Whitelaw Reid. under the effects of
an anoiyne. told an open secret through
the Y i. Tribune: Capital Is organ
ICED" Who is this capital :" The
active brains and cunning fingers that
make empires? Is it the honest labor
that crowds the continent with cities,
links shore tn shore with railroads, Gov
ers the ocean with shipping, aud gath
ers the wealth Of the world in our har-
borss Can this organized capital
dictate the policy Of the government
while Congress is in session:
Congress is busy just now rehears-
ing the farce, who shall be door keeper.
John Doe or Richard Roe, rehears:ng
their stale wit and pronouneing mock
benedictions on each other. amidst
shouts Of uproarious laughter
While the monkey reigns, let every
man dance before him.
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