The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1885-04-08

his peons, each with q bag of silver
% his back, to pay his obligations.
IL be wants gold be pays 10 to 10 per cant.
premium for it. Net because OF such dis
eliminating legislation as we have. bat be-
cause OF euperabDndance OF silver, aud
forced circulation has driven the gold out.
In London, where gold alone rules. il cen
ieIs. Business is carried on by commercial
paper Tedeemable in gold. Silver. valued
by gold. circulates 10 the full extent Of the
den and. and there is no friction. Even the
Latin Union does not pretend 10 force de-
bssCd silver to the level CT gold, and could
not do so even even In Its own countries IL
its members should agree to try bS govern
ment Cat.
The lesser and cheaper and least convsn-
lent will fill the channels IL is fitted for, and
10 amount OF forcing can make 1t do more.
Tbst is the relation silver bears ID geld.
Forced beyond thai like drift wood It
covers the shores as dIift-Tood, Or obstruots
the channel and turns the current back to
find other channels, doing injury az other
floods do.
The greater amount of the worlds basi-
ness is conducted on commercial papar and
bullion; coin is treated as bullion in forsign
trade and exchange, the sctusl gsld value in
it being the total purchasing power it
possesses; the Governments stamp bsing the
evidence of pure metal in It. Its locsl coin
value gees for nothing except N lis own
country. This being the fact, Whist nonsense
il is to seek to change 1t by s1ch dIscrim-
mating lava as disgrace the statute books of
the United States, il the futile effort to tarn
aside uDerIlng and answering forces that
crow out OF trade and fnance2
IN tlsve timee. under a great revival
many negroes were being baptized. The
preacher lost his hold on one fat, slsek fell.
low as he went under the wafer, and he cams
nesr drowning. he finally got up on the
hank and sang out: "Bstter look out dar,
some geDelman III be short niger Wild dis
cam foolishness."
The country has bsen 'short' a good
many times with this foolish legislation, to
the enormous cost Of tbs labo-iug and pro.
duoiDg classes, ard the COZ tinuance of The
compulsory silver coinage Law will make
more Of il, and to aEerious extent.
The true position Is, one unit of value for
coin and coinage sufficient TO supply the
demand. Then 1t will regulate itself. Let
all Government obligations be on level,
and 10 one better than another under the
statute. If Government issues any paper ID
circulate as money let IL issue it ali; have
only ore kind, aud thst Reasonable az the
pleasure OF the holder If Govern rlenE can't
redeem it, Individuals CO. aid not redeem
other notes, and as il circUlates IS money,
and there is 10 other but coin, it must cOn-
tinUe in use on faith in the Government.
All present circulation is on that any way.
Then trade and commerce and finance and
circulation would adapt themselves to each
other. With free banking and personal lia-
biliiy of stockholders and officers, civil a. nd
penal, there would be stability as TO the cir
culatiDg medium, and the laws OF demand
and supply wcnld regulate amounts values
and pricss-
With this reform reforms IN ether cases OF
class legislation wou Id speedily follow.
n II Rrrvr