Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1879-05-22
For the Fayetteville Observer.
The Times.

eie anu coupon clippers, u(
not use these as terms of re.
proach, / speak of them as any
other class of citizens. / believe
their prosperity at the present
time is the natural out-growth
Of demagoguery. Demagogues
are constantly enacting laws that
are shol't-sighted, which always
result in measures that enable
shrewd men to realise immense
profits from the masses.
The United States govern
ment is in advance of all other
governments of modern times,
except in its monetary system.
All monarchical governments are
made for the benefit of monarchs
and the aristocracy; republics are
different, they are established for
mutual good of all the people
that is the subject as well as the
officials. All are equal before
the law, not subject to the will
and caprice Of one man.
Now, if a government, say a
republic, adopts the same finan-
cial system as monarchies, what
is the difference in the govern
ments only in name? We have
the oldest monetary system in
the world, and while we have adj
vanced in all other departments
we have fallen behind in finan-
cial policy. We have adopted
all the oppressive elements of
the ancient Jews without any
of their ameliorating elements;
they had their jubilee laws that
we call bankrupt; that law was
established by Moses and never
But we, claiming to
be Christians, have in our pre-
tentions abrogated all these laws
1t is only pretention, for we
have adopted all the evils of the
system with none Of the good.
Any interest above the natural
increase or growth of an individ-
ual orpeople is usury; 2 per cent.
will cover the natural growth of
our country; therefore, an inter-
est above that is wrong and will
be a hardship and result disas-
trously to any people that pays
it and any considerable amount
for a series of years. A greater
interest depriyes labor of its
just earnings.
All exemption laws, all usury
laws, stay laws, are likewise
wrong as they are the out-growth
Of the demands ofnon-producingI
capital. This large interest for
a few years absorbs all the profits
Of labor,then comes a crisis. The
people can't pay, then comes the
with an extension of
time, stay laws, &C.; the people
-hen compromise with exemption
md usury laws.
The government makes money
and it has discretionary power,
md it should use that power in
l way that it would result to
he greatest good to the great
est number. In selecting ma
-erial to make money it should
select some material that could
DC supplied in any amount;
cheap, convenient in all respects,
md something that is not scarce
or liable to be boarded, as that
gives bad men an opportunity to
liyert money from It's legitimate
;hannels,make corners and black
Fridays. Gold and silver are
not the proper materials out of |
which to make money; they are
90 scarce and have too great an
Intrinsic value. That gives too
much advantage to the rich over
he poor, it can be made a great
monopoly, such as gold-rings,
oond-rings, ,and productive wealth
hen suffers.
Let the government make
money out of paper-make it a
egal tender for all debts, dues
If a private or public nature. It'll
S Il dollar to all on every foot of |
and or water over which our
lag waves as an ensign Of ma
-ional protection. Labor will
hen be protected and American
secured. If men have
gold or silver and they want a
finer measure Of value than the
government furnishes, let them
AXE it to the government and
nave it coined into measures
SO many grains equal to
! dollar. Coin for those that
want coined gold or silver. Let
the government charge for this
just like a smith would for ma
king horse shoes or nails when
man has bar iron and pre-
fers horse shoes and nails.
Money is a measure of value
as much as scales, vessels, yard
sticks, &C., are Of quantities.
The government has made GER
tain lengths yards, certain pounds
bushels, and certain instruments
as legal measures for quantities
for all men; now, the govern