The Portland daily press., 1878-08-30
Chicago Tribune.)
The Beauties Of Fiat Money.

To the Editor of The Tribune:
You are wrong in opposing the proponents of
fiat money; not slightly ia error, but Uery
wrong.
L am politician and a'spsculator.
have nothing but my wits and education.
want to be rich. There is much money in
the land, but only enough for trade and COM
merce, and not enough for speculation.
OF the money in use I could earn a suf-
fciency, but that implies work-ex srtiou-,an
that is distasteful. Good enough for those who
are brought up to it, but uncomfortable to me.
Let the Government issue fiat money. Fiat
money by the tubfnl, barrelftd, BoAT-LoAD.
Then speculation would be rife; Government
contracts plentiful Eve can make them profit
able).
would have chance.
While the fiat money was at its greatest vol
ume would supply myself with it, Not with
little, but with much of it. Government
contracts, State contracts, city contracts, rail-
roads, bills IN legislature }, speculation. 'fat'
offices, banking, and the other means of acquir-
ing the stuff without much exertion.
Something which requires simply the use of
my wits, and an occasional hour'a devotion to
my Office chair. 1 would manage to get it.
Then when the reaction comes. for there is no
use denying that there would be a reaction, for
we would haze to haze ii, I would be prepared.
Perhaps if there were not certainty of suf-
ficient force to produce the reaction, 1 might
assist it little. Take the stump, for instance,
in favor of reconciliation, resumption, coin
currency, contraction etc., and, it might be, for
mono-metalic currency. Qt would not do,
you know, to let the currency alone That
would create stagnation in politics, and they
must be kept "a-biling.)
This, you see, would enhance the value of
my fiat money. The property end of the beam
would drop, and the money end would rise.
could get many times the amount of property
with my fiat money after contraction and
resumption that L could before. Then l
would part with my money and accumulate
property
After have succeeded in converting my fats
into tangible property, would put the national
| finances through the process again. Initiate
| the mOney-issue more flats. Wnen the vol
| ume was at its maximum, sell my property.
| Get more fats. Then resume specie payments,
| contract the currency, demOnetize the flats and
remonetize-say gold only, and buy more prop
| erty. So on ad iniuitum. This, you see, re-
| quires no labor, no exertion, no ''sweat OF the
brow"-only the mapping out of the plan and
| the preliminary manipulation of the people
| through some "National" or other party, and
| then the laws Since l should be a candidate,
| if my party was successful, would ses to the
laws. They would be easily passed.
Now, Mr.. Editor, you can readily perceive
| the feasibility Of the plan, and could, if you
| would only give us the support and influence OF
| your paper, be made participant in the profits
OF our success there is scarcely doubt. for we
have captured the working hordes, the farmers,
and many Democrats who come to us on ac-
! count of the agreeble prospects OF office.
You know yourself that rapid and frequent
fluctuations in the values of money and proper
ty produce a very healthy excitement in the
markets, and sharp persons can easily take the
tide at its flood and float on to fortune. Only
create the tide. And, in any event. you mus
certainly perceive that in operation the plan,
although affecting all persons, would but once
again exemplify the doctrine of the 'survival
of the fittest." 1 sincerely trust, Mr.. Editor
that, perceiving as you readily must the wis
dom contained in the foregoing information
(Which is impaired gratis) you will turn from
the error of your wavs and cast your lot With
the tiat-moneytes. The United States Constl
tuition is piece of sheepskin wholly unworthy
of consideration in this connection, Hurran
for fatsi Vive la fiats Very truly your ope
dent servant and fellow fiatriot,
U. @. How.