The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-04-23

of gole, no more or less. Now, We call this
money. That is for convenience only. IL
the gold or silver be in coin or in bars, in
solution or in dust, the only money there is
IL Ii is the gold or silver there is / il, aud
an assay and the scales will tell that. The
actual gold and silver there is in it deter
mines its purchasing power as q means OF
efecttDg an exchange Of other commodities
Each government fixes its own regulations.
Suppose a case 10 illustrate. IL Congress
says, take 900 parts of pure gold and 100
parts of alloy and put them together. 81
many grains of this shall represent one dol
lar. One part of gold 81 carsts Ene shall
equal 1914 parts OF pure silver. Then says a
silver dollar shall be made. Now it is plain
that the silver dollar must have 15lz
parts OF pure silver in ii for every one part
OF gold there is in the gold dollar. II 1t has
not, the gold dollar will measure itsnd it
will pass current for only what the gold dol
lar says there is IN it by the ratio Of fifteen
and half for one.
When those coins 90 abroad the country
10 which they 60 has It's own legal standard.
These coins are thrown into the scales and
weighed. The alloy that is IN them is de-
Quoted. The amoQnt OF that alloy is deter
mined by our Law. Whatever pure metal
remains is treated Gs money, end is measured
by the standard OF the country in which il
is used. Hence, most of the money" used
in foreign trade is in shape OF gold and ell
and assays the metal, runs it into bars or in
gets, puts stamp on them showing weight
and hneness. That stamp passes current, and
they have purchasing power in proportion
TO i; will measure the exchaBgeable value
OF other things by that according to the law
OF the country il gees to. The standard
fixed for dollar, sovereign, louis dor, &
Napoleon, or the coin Of any nation, all
come to this level, and the actual bullion
there is IN them tells now many dollars
soVreigns, louis d'ors, Nspoleons, etc they
shall pass for.
money. Congress can not take away this
character from gold and silver. Only the
common consent of commercial nations can
do that, and substitute something else by
common consent The utility value
Of gold and oliver has made
OF the idea OF money, by growth-common
usage. No other metals have rs much utility
value for that purpose and they Will continue
to be the practical idea OF money.
Congress may say what shall be legal
tender for debt. That only affects the
credit system in trade; il does not demontt-
ize gold and silver. a gold or silver bar viii
bring Just as much in the markets of the
world as IL Congress had said nothing. Men
will find ways to use it in exchanging CON-
modities, and its purchasing power will be
what common consent gives it. So Congress
Ii and what for. IL may grant 81 execution
or refuse it. 1t may FIX terms and condi-
tions. 1t may abolish the court and refuse
civil sctions and destroy the credit system so
far as want Of civil actions support it On
the same principle it may tx a unit of value
for coins or for exchange; the kinds Of metal
and the ratio between them for coins; the
conditions for circulation; what they may
be used for; what may circulate here as
money aud be legal tender. But, without
the consent of the rest Of the commercial ma
tions il can not take the money power from
| silver and gold, nor its purchasing power to
| the full extent of IFS actual value by the
commonly recognized standard for puse
metals. That is. il can not demonetizs It.
| Nor, can ii make an inferior coin
circulate with superior one II it
says so many grams OF gold shall
be dollsr and fifteen and q half ounces
OF silver shall be equal to one ounce of gold,
| the silver dollar must have that proportion
| OF silver in it to be dollar and Congress
can not make ore OF less proportion pass as
| dollar II has tried TO do That by coming
the 'buzzaTd dollar" $50 called because the
eagle on il looks more like q buzzard than
| an esgle). and has failed. 1t continues the
trial by forcing through the mint so many
millions month at large expense. IL has
tried by Issuing silver certificates and keep
irg the coin in its own vaults. Lastly it
attacked the banks and put than under a
ing houses unless they would receive silver
certificates as money in settlement of bal
| snces. Still this socalled dollar Will not
circulate, simply because il is not dollar.
Ii has not the quantity of silver in it TO equal
the dollar as the law has ixed it in the geld
dollar. In other words, man are mean
enough to want the best, and therefore re-
fuse the poorest Congress having made the
best and the poorest and Congress is trying
to compel them to take the poorest and say
it is as good as the best. Congress can't de
it. The world Of business men is greater
than Congress Now, repeat: Some Repub.
ioaBs and some Democrats are in favor of
continuing this trial. The business brains
of the country are against it. The laws and
forces Of trade aud finance ara sgalnst it
irresistible Jaws that grow out OF trade and
commerce, which make finance, and they
are greater and stronger than these Demo-
Gratis and Republicans. Mr.. "Old Styles"
hope Il at they will stick, II" like Stanton, is
a pleasure TO him now, bat il is a groundless
hope. Congress can not make the ''buzzard
dollar" continue TO pass for dollar as long
IS the gold dollar is worth more By the Con.
gTessi0naI unit of value aud the ratio be-
tween gold and silver as liked by Law. Like
other rasoals il will be turned out to make
room ior IN honest dollar. c. Il, REEVE.
April S.