The Dalles daily chronicle. [volume] (The Dalles, Or.) 1890-1948, 1891-06-22
FIFTY DOLLARS PER CAPITA.
A Correspondents That Thinks the GOV.
ernment Should IssuesT That Amount.

A Correspondent That Thinks the Gov
ernment Should IssuesThat Amount.
BOYD, Or, June %, 1890.
EDITOR CRoNIcLE: / propose to give
you few thoughts on national finance.
The people from Maine to Texas and
traction of our currency and consequent
hard times, brought on through the in
duence of gold monopolists. Many and
diverse remedies have been proposed, all
having some good feature, but the safest
and best plan to get money in reach of
the people is for the government to issue
enough of legal tender treasury notes to
raise the amount of money in circulation
to fifty dollars per capita and loan to the
states in proportion to their respective
needs at one per cent. as the banks have
been getting it. Let the states loan it
to their counties at two per cent. retain
ing one per cent. in state treasury Let
the counties loan it to the people, on ten
or more years time, on good real estate
security, at three per cent. per annum in,
limited amounts, to enable them to lift
high interest notes and mortgages and
for necessary improvements. The one
per cent. retained in county treasury will
partly pay county expenses and reduce
the tax of every taxpayer.
No additional officers are needed.
The present state and county officers
will be sufficient, except, perhaps few
clerks during rush. A wise, beneficent
father will help his son to help himself,
while he who supplies all of his sons
wants without cost or effort to the son
fosters idleness, extravaganza and ruin.
powerful, wise, beneicent government
will adjust it's toilers-its real wealth
producers to prosper, in order that all
honorable callings may prosper-as all
good money is ''fiat money" regardless
of the material of which is made or of its
commercial commodity value. Money
with a metal standard is monopolists
money-controlied by monopol1sts to en-
rich themselves at the expense of the
masses-but full legal tender paper
money, with government stamps and
based on faith in the honor and patriot
ism of the people is the peoples money
and should be controlled in quantity by
the people through their Representatives
fairly chosen through purified ballot
box.
A powerful government like ours
should never borrow money in time of
peace, but should be the sole creator of
money, of whatever material made, in
sufficient amount to maintain healthy
commercial circulation among its citi-
zens.
AS all metal money ceases to be money
and becomes only commodity when it
passes our national boundary, it should
be maintained as money for home con-
venience and retained as bullion for for
eign exchange, because paper money is
only little more "fiat'' than gold or sill
yer, being one hundred per cent. fiat
Claw with power behind it) while the
gold dollar, with eighty-six cents com
modify value, is fourteen per cent. fat,
while twenty nickels-one dollar, money
vaiue-have fourteen cents commodity
value, thus being eighty-six per cent
'fiat." But enough. Let us have more
money at low rates of interest, in easy
reach of the people, at least cost of hand
ling. j. H. TROUT.