Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1883-01-11
Old ahd Siiter-ifcAsdfy Icft1Ac1>s
as the Paper Money for This
- Counfry.

as the Paper Money for This
- Country. =
This is the most important subject,
connected iik IS, circulating medium,
|rver presr1sed 10 the American people.
hsblic sl..htisl s.especnIl} }uinxited 70
1t ss matter q vital concern In fpr'
Ser nunhl IA ol tbe Register we have De-
tnopstrztt Z di,s -jFacticability and sound
policy OF issuing gold and silver certih-
Gates Of deposits in the Treasury Depart
ment. o. SssbstitutsIt Ger PAPER morley
based on credit, We bare psiptaiped'
and can maintain upon incontestable
facts, thefollowing propositions:
iist. That the change ffoh the paper
t6ircuiatior of the nati0nap banks 70 gold
and silver certificates can be made with
out any antefferepce Hish tAs amount Of
the moneysd facilities pqY existing ill
the business,of the country. g
4 ID. That Il wodld cost nothing out the
ttifing expense of issuing theCertifcates
and not as much AS ths paper money is
sued by the nstiopql bapksqH osIIq I
Sd. That it, would aHoyd the gpxerD-
meut, instead Of the banks, the profits
arising from the destruction or loss OF the
paper money which cannot be retufnet
for redemption. .eS)a9B9a9 NJ =
4tb. .Th.t1 is fwould furnish mors
ample and larger paper cacylatioi
than now exists in the country, and iP
deed q paper money circulation which
would citculate in theports, Of all cour'
tries with which We trade. "
9Th. And finally we showed that the
paper money consisting of gold and silver
Treasury certificates would be subject 20
no expansions or contractions. would
save the country from the disasters OF
periodical paper money revulsionf,
would prevent the greater part of the ex'
port of the precious metals, would plsce
our circulating medium upon the firmest
foundation. and give life, energy, and
v1igor to the general business OF the coun
try.
We make no war upon the banks. So
faras they can ,tbe made useful instru'
men talities In the business of the country
we are in favor of sustaining them. Az
banks OF deposit. discount, and exchange
they can be more useful to the public
and more safe and profitable to theiI
stockholders, withSdtla circulation.
The money system or circulating me-
dunn fixes the standard of Ualue in trade
as the yard-stick fixes the standard ol
length, the bushel measure the standard
Fof bulk, and the scales the measure Of
,ceight, Unvarying uniformity, as far a.
practicable, is, therefore, Of primary i'm
portance.
Another indispensable preliminary t.
a correct undeFtanding 81 thesubject il
theconsideration of the unavoidable ant
c5btrolling inahence overthe moneNsys
tenn exerted by the trade and business
with foreign countries. For no CONNER
cial nation can carry on trade and bust
ness successfully with other counttie
and discard or disregard the common
standard Of value Of currency ofthscom
mercial world. So that to cofnpzehen.
Efuily.and aeeurately<ths opeEatiens ant
results of the monetary system of an.
country the subjeeb mustAbe considered
with reference to- and indts connectiol
With the trade and business ofother ma
tions Of the commercial world. '--~N
The money system is Of paramount i'm
I,pSftance; it=rises above all party ques
tio4s; for tKs Prospsrity and business o
the country the currency is like the life
blood to the human system. Let it the
be understood thoroughly and accurately
We have given, close attention 70 thi
subject for the last forty years, pfacti
cally as we'll as theoretically, and claif
to understand it in its true nature, prir
ciple, and practical operation. n.-Amerfcd
II ffs0'ster' p III a b