The Somerset press. [volume] (Somerset, Ohio) 1873-1977, 1879-04-03


of congress increasing or diminishing
the volume of money when it pleases,
thus increasing and diminishing the
value of all kinds of property"
This is the logic used by the wiseacres
of the hard money press.
Admitting their first proposition to
be true, that gold and silver alone are
money, they forget Gt they ever knew
that the constitution gives congress
the absolute control over the subject
of coinage. By virtue of its author
ity under that instrument, congress
can make dollars of any weight and
finess and limit or initiate the volume
of coin as it deems best.
Do these astute economists and fl
nance philosophers pretend that con-
gress has not the constitutional right
to determine the number ofsilver dol
lars that shall be coined within any
given time?
Do they claim that congress has not
the power to authorize free coinage,
and mint S., 600, ,0O0,0 of silver coin
in year if it chooses to?
Do they claim that congress should,
or even has the constitutional power
to private corporations?
If, then, congress has the sole right
to coin money, and the volume of
such coinage is left to their discretion,
if that body has the sole power to ex-
pand, contract, and regulate the vol
ume of the real money OF the country,
why not its representative or substi-
tute also?
If it has the constitutional author
ity to supply a sufficient amount of
real money to do away with the ne
cesity for substitute, where is the in
consistency ofits supplying the sub
stitute in case the material for the real
is not to be had?
The truth is the great speculation
for the banks lies in the power to sup
| ply an in expensive substitute. Sub.
stitute dollars cost nothing, but are
worth their face, and if a few men can
monopolize this substitute business
they can make colossal fortunes out Of
what the government ought to save
for the people.
The power to issue and control the
money volume of country. The In
dianapolis Journal truly says, is ga
monstrous and dangerous power" Il
was delegated to congress to be exer
cised for the public good, while every
body else, even the states were denied
the right to exercise it, because it wal
considered too important and danger
Gus power to be trusted to any except
to body created by, and under the
control of the people.
The money prerogative ofa country
is sovereign power. In the forma
ton of our government, its founders
were jealous of their sovereignty. They
had rested it from the king and de
clared belonged to all the people. They
believed that the people should nevel
be deprived of the smallest portion o
their SOVEREIGNTY. For spacifc pur
poses, they pooled certain powers
and placed ever them body of cho'
. sen agents, or representatives, callet
congress. These representatives wer'
!. to be chosen from time to time by th'
people, always under their control
hence none of the delegated power
, ever passed from the control of tn,
people. Our government is built VI
, of powers loaned to it by the people, tt
be kept by it in tact and sacredly pre-
served, and exercised by the agents o
, the people for the general welfare.
No individual or corporation has :
right to claim or exercise these pow
ers. To take from the government {
single prerogative loaned to it by th'
people, and give it to private corpor
, ations is treason.
!, Evers stone taken from a well weak
ems the superstructure, and every ell
| ment of fsovereignity taken from the
people weakens the republic, and wher
we consider that the m0netory prerog
ative is the very keystone to the SOW
ereign arch, any attempt to move i
, and place it in the hands of aliens ant
: strangers is high treason of the rank
est kind, and must be so regarded anc