Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1880-09-11

Values O1 all tuc pIoPCiey Va al SLAS
people of the United States shaft be
greater to-day or less than it was
Yesterday, and whether the equitable
relations of citizens to each other
shall be arbitrarily changed from day
to day, so that it will be impossible
for any person, however wise he may
be, to measure the results of his in-
dustry and to provide for the future.
Society cannot exist unless there ls
an exact and conscientious reward
for the labor of every man, go that
when he Exchanges with other men
not only to-day, but tomorrow
and through all time, not only here,
bu, through all other countriesAhe
shall secure true equivalent Upon
this basis the world proceeds in the
exchange of values, and upon this
basis alone is the foundation OF the
whole social organization esta blished
the world over. -'-'
This year he recommends the plan
of President Thompson of the Chase
National Bank of New York, which
is s: -''''-' 'f $50 iss
"Q.) Stop coming the 4124 grain
dollar, and i'll lieu issue certificatss
against bullion at $50 grains per dol
Idi WI ivy k3O'N>
also: at least until the present stock
of coin shall be depietedo anduuntH a
more active. domestic demand shall
| make it advisable to resume coinage.
| Against the gold bullion issue, treas
| ury certificates at the present stand
ard" &c. Coe in 1873 answered Coe
in 1880 completely, for as well with
ssia :.hsaa as Ti,h this sh%f5 sHhpo il steas
| question whether congress shaH
possess the power to decree that the
values of all the property OF all the
people of the United States shall be
greater to-day or less than it was
Yesterday 2" Congress has the power
to coin money does that include the
power to refuse to coip it? Last
winter refreshed Mr.. Goes memory
with his own words, in conversation,
an made this application I'm his
| attempt to answer whit no Que, can
answer, he vent over the petitio, pTan-
cipii ESQ frequently used i'll this pres.
emt sddress) that the silver disks"
as he C Ills them, are worth less than
dollars and repeated the absurd
statement (not go often heard new
and omitted from his address), that
the free and unlimited coinage of
silver would be chiefly for the benefit
If mine owners and bullion dealers.
If they thus get "cheaper" dollars
they must give more of them for
,, what they buy with them.) ..g,
= In proposing the modes and y
,, Thompson and Coe ignore the fact
i that both are unconstitutional. a.
Congress may not thus set the price
Oh every mars labor and property,
~ 1,xy Ind 4 nv
more tnan by direct means. (2) The
. government can no. more store the
u citizens bullion and give him q cer-
tificate, for his convenience, than it
> can store his wheat and give him an
elevator receipt for his convenience
g The custom originated in the needs
II of the government and was Q form ol
l. borro wing money. To continue l,
> for the needs of trade is dfaeren
!. thing. Men imagine Themselves eafe
). because their coin is in a government
u s;orehouse 'gdardad by the .natlona
!, :, forces" as Coe says, but they deposi
their certificates in banks!
II Coe says that silver ls too bulk,
II fand expensive to ship. About fOul
. thousand one hundred millions o
y dollars i'll exchange are sold sannu
J. ally by the banks and the govern
ment. Very little of this is draw
z against money shipped by express
as any one can see. 1t is what tn
world implies, the exchange Of raw
products for manufactured goods
the transactions being registered b.
bills of exchange. At home person
= carry little money in their pockets
!, they use bank-checks. Wnen the.
- travel they tike bank drafts. On thi
~ point Coe has also answered himse
~ by saying that ninety-six per cent.
all business done is done without tn
y, actual presence of the money.
~ think this is in one of his papers, bu
can not just now find it,
The statement made by Coe an
many others that the people do NJ
want silver and will not take it, tn
rs Repu 5Iican has often shown to b
~ just as true of gold. ao-i i....lf (.
o. AS to commerce with foreign III
III tions, Coe proves that our coins ma
j. as well be one weight as another.
u. European nations do not have TIL
10 legal-tender laws the people wan
ce but such as the Messrsa Elso thschil
aud their associates require Off Of
gi to whom they loan the money this
o. enables one nation TO plunder al
= other. Shylock's grip will never
., off their throats. 1t. will be off oul
- in A. D. 1900. The ground of CO
!, and all the other demonetizers is ths
our constitution binds US i'll the ma
-. ter OF coinage no more than it doe
Europe; or that the action Of EuroI
IN has put it out of our power, 10 ODE
our own constitution with0u
European cooperation.
The demonetizers propose 10 ad
IA per cent. to the principal and il
terest of every debt in the couhtr.
Ia and their own greed is the sole reaso
m for doing it. raa a95j1uoa
,,pp In Goes objection to the preseI
Ih practice of coming silver dollars he
h right. The government can no MOI
as run the mint for profit than It ca
run the only bakery in the countr
de for profit. agaup sa' 10 4siaerado
nd a government engaging in busine'
lal for profit is communism Restrictiu
the coinage and monop0lizing it II
o. profit is unconstitutional. ,Bayar
he not Bland. is chiefly responsible Fl
the present practice.
OIL The demonetizers' habit Of imp
're ting lunacy to their opponents
duoptCo ny SOCs WuO t0ShSI II I'll
,r- "insane policy" is to continue. II
Oh statements of eight St. Louis banI
of whose capital aggregated three al
half millions. lately published
m- the Republican, showed only one on
re. hundred and thirty-sixth paftof Il
he capital Oh hand in silver. Any OF
ST. who notices bank. statements, mu
MS be struck with the small amounts
M silver in all the banks. The who
Use amount of all kinds of silver in Il
treasury is about 81 25 to each i
ist habitant of the Union. It is not Il
nd animal that uses the normal amour
he OF water, but the one that rejects
ms and foams at the sight of it, that b
nd the hydrophobia SO if there, is al
or argentophobia in the country Il
1- demouetizers only have it, sIf
j. r. Colgate, banker of New Y or
and the writer have both called Q
temtion to tine fact that the Ne
ST. York bankers are. actively. in t
e practice of nulliication by their cles
ing-house rules, which their Sou
Carolina prototypes have threatene
and to the further fact that il Jac
on sou were III the place of the .prese