The examiner., 1882-03-25
Money of the World.

UAeAf WlIO bnoOf16S began to unSettle the ideas of antiquity on the subject oi money, the ''greenback lunatics" have had the audacity to claim that theil theory would render the wealth of the world tributary to the United States or any other country of like population or power that first chose to adopt it. Their idea was that paper for mon ey was as good as gold if treated as we'll by people who used it. Of course every
 sensible person knew that this idea was novel if not new, and must therefore be false.
 Again, it was noted that the idea must be pernicious, as we'll as false, for it would deprive the richest and most aristocratic order of the business world of the most profitable Of it's privileges The great and good bankers, though ill no danger of being reduced 10 poverty, would lose g. share of sthe influence which they now possess. Moreover, the British dogma about "tLe money of the world" would cease to be re- spected, which might involve the de- cline of England's power and tho fall of her aristocracy. It was un lerst ood that the te. n "money of the world ". must be accepted in the sens5 of that which must be the money of the world" Of course it meant gold ard bank notes -a little gold and many bank notes.
 Since there is in existence in coin only about one-twentiesh of he money which the world needs, it is obviously fine investment for somebcdy"to sup ply paper for the nineteen -twentieths which cannot be represented by coin. And by all the principles of common igno-no, no ignorance common sense and common honesty, it is recognized that nobody but banker is entitled to this power. His superior wisdom and honesty forbid that the people should grasp at this privilege. They did so once in the republic of Venice. For 500 years they maintained the only bank that had power to issue paper money. They dihused wealth and advanced civilization. The worlds commerce paid tribute to their queenly city, and through out Christendom their paper money was recognized as more valuable than gold. But for all tLat it was dishonest money" since t deprived the great and good banker of his favor ite branch of business. The "money of the world" was indeed of the material of which he seeks to make 1t, but 1t was government money, to no individual and no league Of Individuals were the profits confined. They were distributed widely as the nation itself. The dishonesty of this republic troubled the sensitive conscience of Napoleon Bonaparte, so one day he re-estaL Llished "honest money" and tn privileges of the honest banker who make it, by destroying the republic, and the last vestige of prosperity among it's people at the same time.
 During six centuries, however, the bankers were forced to pay tribute to the citizens of Venice instead of the citizens paying tribute to them, which was obviously wrong ard dishonest. The Standard has spoken of Venice be- cause there is danger that the United States, with much greater population and vast resources, may follow the ex- ample of Venice and mab be the "money Tn the world"-paper money. Indica- tions of the fact are found in current events. The "greenback lunatics'' noted with satisfaction that as soon as the government received its paper dollar on the same terms as 1t received gold, the former in California, immedi- ateiy showed it's ability as we'll as the paper money of Venice by rising in value above the gold it was supposed to represent. But the bank note did not rise, showing the disposition of the people to condemn "honest money"
 Nevertheless, the banker had no req son to fear serious harm so long as the mischief was confined to this country. Unfortunately, the !" lunacy" has pro- pagated itself very fast, and every day it becomes more clear that the green back must go-now or never. Cham pions of the greenback have appeared in Canada, and the dangerous doctrine is spreading over the continent.
 The greenback lunatics are spread ing dishonesty over the earth by their dangerous doctrines. Thus they are intoxicating the pernicious idea that nations note, secured by nations wealth, may be better than bankers note, secured by "a bankers wealth Thus are they bringing to naught every effort to divorce the peo- ple's money from the peoples con6- dence-and the attempt to destroy the dishonest government paper, and re- place 1t with the truly honest bank note appears more hopeless than ever. It is apparent that if the greenback doctrine continues to spread, the orthodox idea of "the money of the world," taught by the truly learned bankers, will vanish 11tfar1v and opv rooDav ise1o1