National Republican., 1885-11-14


vital importance that in the discussion as to
what material shall be used to make money
It's form and quantity, those who have II and
those who seek for It always manifest deep
concern. Any change that public authority
may make in the material OF which money Is
formed effects the very hfe.blood Of commerce.
In all the changes, from governments OF
tribes to governments of nations, from the
trHde of barter to the present methods Of
exchanges, the precious metals, gold and sill
yer, have been used as the medium of ex-
change. To prevent abuses, 1t was found
necessary to fix public stamp upon certain
quantities Of these metals, commonly made
use Of to purchase goods. Hence the origin
of coined money.
Civilized nations legislatc about the coming
of money ms upon any other material matter
to promote the general welfare. The laws ell.
acted regarding the use of paper in the shape
of bills, checks, and drafts as currency arc
perfected, so that todny fully 9i per cent. Of
the vast aggregation Of business is transacted
by their use, leaving only about per cent to
be represented in those transactions By coined
money, made Of gold and silver.
There is n conflict of opinion and of interest
regarding the use oftheso metals as money.
English fnanciers the English government
are in accord in their endeavor TO mako tho
yellow metal, known as gold, the yardstick of
commerce. In this endeavor Germany has
aided by the demonctzation OF silver. or
the five hundred and slxty.two millions of
gold coin In the United States, II Is estl-
mated that the national banks own two hun
dred and iny millions; their interest and tho
declarations of their organization arc for the
demonetization OF silver in this country.
They are charged and trusted with tho hand
ling of the money of commerce; the more com.
pact or contracted, coined money can be re-
duccd the greater the purchasing power OF
that which remains, rs coined money, to meas
ure or make the value of property
If the fat of the national authority for the
coinage of the silver dollar as legal tender
money could be repealed, gold would appre-
ciate and silver decline in value. Thus we
perceive that the money-lenders of Europa and
the United States have common interest to
suspend the coinage OF the silver dollar for the
purpose of increasing the value of their SO.
curties ana their gold coin.
If Great Britain can enforce policy that
will reduce the price of silver in the United
States, whose mines produced last year over
$4,000 900, she will be enabled to transport It
to India and Africa, and purchase their wheat
and cotton from those silver consuming ma
tions that much less, which would secure
lower level of prices for those staples in this
country.
As silver producing and q wheat and cot
ton raising country we would therefore strike
q blow in antagonism to the general welfare
by suspendng the coinage of the silver dollar.
five occupied England's position, the bank
ers of the world, our interest would be re.
verscd. Bankers, therefore, the world over
believe in the Capitalization of the money
power Their policy OF selEinterest becomes
the opponent of the general interest. So
long as the money-changers exist this
conflict will remain. The fiat of law,
rejecting the will OF the people, is the only
safeguard Of the people. us illustrated In the
trade dollar OF 40 grains of silver selling in the
market at large discount, when the legal
tender silver dollar of 4l2IS grains remains at
par for the purchase of goods and the payment
of debts.
Public opinion, nodded into law, eau make
a just standard of both gold and silver; if the
supply and the demand for either have changed
the intrinsic value, Congress can readjust the
relations of one to the other, without the
suspension of the coinage of either. This
country, desiring to extend Its commercial re.
lations with the people of all the earth, must
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