Weekly Chillicothe crisis., 1885-07-16
How U. S. Senator Jones of Nevada
Talked to Kansas City Jour
nal Reporter.

Among other questions he was ask
ed:
"Do you look for 4 return of good
timrs?'
"No sir, do not; have often Civ
en- my reasons for this belief in WASH
ington. Solong as this country is grow
ing, you need not expect prosperity or
anything like it.
When money is scarce it means that
money is dear That means that pro-
ducc and property are cheap, times are
close. The great cause for hard times
is the non-p production of gold. The
world does not produce enough gold
for the Use of art, Ii falls far short of
keeping up with the increase of pOpu-
latiOn and the retirement of bank
notes.
"Within comparatively short time
$50, 900, 600 in bank notes have been
retired | do not see how any sensible
man can look for good times, 50 long
as money is becoming scarcer every
day. So far as can see, there is no
escape from hard times now Read
what have said 50 often at Washing
ton, and You will have my idea of the
question Of hard times. wish | had
time to explain to you further
Here is Il report of former inter-
view in New York, which presents his
views very clearly:
Mr.. Jones, says; II hold that both
gold and silver are entirely irrelevant
TO their monetary uses. The supersti-
ton which keeps them in use will have
its day. Nothing more is necessary to
make money than the stamp of the gov
ernment and the law, making that stam-
ped thing 4 tender in payments.
4 came to the senate, said Mr.. Jones,
"a victim ora convert to the writings of
the old financial authorities, like Adam
Smith, AmaSa Walker and Stuart Mill.
1t was after that that became illumi-
mated with study of the actual facts
of the exchange, panic and currency.
saw property reared by the work of
mems hands towns, farms, mines,
mills, railroadS-all shrink next to
worthless, while this medium of ex-
change, gold and silver, began to mount
up and up in value. Whatever made
life interesting was without II market,
and that which had no use whatever
except to be boarded, handled by Jews,
was the master Of the times. | said to
myself, there is injustice in this. We
want money which shall not leave the
country as soon as we get into u tight
place.
81 believe that money ought to be
based on units, or numbers of the pcO.
pie propose kind of currency that
shall be beyond the operations of Con.
gress or politics, and equally beyond the
scheming of bullion pcddlcrs.
GLOW will you begin to make this
currency, Senator Jones?"
"All that is necessary Is first to ascer
tain the amount Of money or currency
required to do in an easy and proper
way the exchanges of n given number
of people. We may suppose that for tel
millions of people there is required two
hundred millions of money. As our coun
try has fifty millions of people, tha
would require one thousand millions o.
dollars. would then put the stamI
, of government on something that coulc
not be readily counterfcited and issut
it for money not to be recalled. Oul
population would perhaps increase a
the rate of a million year. All ina
ii is necessary to do is to increase tn,
coinage in that ratio so that there shal
be enough to do the increased ex
changes without cramping anybody ol
without any spasmodic imitation. Fol
: years the greenbacks Of the govern
ment did the work of money perfect,
and proved the most benelicent curren
cy we ever had. These banks have n,
business to be monopolizing the issuing
of money. The government itsei
ought to do it, and there is no necessit,
of printing the money on n meteria
which is constantly changing its valu,
and being cornered or chased hithe