The midland journal. (Rising Sun, Md.) 1885-1947, 1891-05-08
MONEY.
j. Brad Beverley, IN Alliance Far
mer, Petersburg. Va.

We bave, by our research, arrived
at some very important conclusions, as
follows: That money is medium Of
exchange with the functions Of apprais
ing property and paying debts, taxes
and fines; that the price ofail property,
labor and the products Of labor is de-
pendent upon the volume Of money in
circulation; that it is an injustice
amounting to crime. first against all
debtors, and second against all who are
engaged in honest productive labor,
commercial industry or in development.
to reduce the volume of money in cir
culation, or even fail to increase it as
the population, production and devel-
opment increase; that, if the 6 fat
value" value fixed by law be taken
away, the intrinsic value of the mater
ial of which money is made gold, sill
yer, or paper) would amount to very
listle, if anything, and henc, the fiat
value is all sufficient. The above we
obtain without argument; that the gov
eminent should provide the people
with medium of exchange sufficient
in volume to transact the business of
the country rapidly, cheaply and justly j;
to do which the minimum amount per
head must be the maximum amount
per head Of any previous period and
that if the present securities upon which
money is based (gold, silver, U. s..
bonds, and 35,OoO,00O Treasury notes.
be too limited, other securities must be
found Or established.
This final clause is the only one
which consider ueeds further argu--
ment: eff the present ities-gold.
silver, U. S. bonds and $4,000, 900
Treasury notes be limited" Gold is
now given unlimited coinage, so there
can be no increase from gold. The
present coinage laws on silver require
100000 ozs. per month or $4,000
GOO per year. The total output Of our
mines in 188S-e9 was about $64 800.
coo. So from our own mines we could
not get an increase Ct over $4,000
~
O0O per year, or about II cents per
head. According to N. A. Dunning,
whose figures have stood over year
unrefuted, we have not in actual circu-
lation So per head. Senator Plumb
said on the floor Of the Senate, and
challenged the administration to refute
it, that We have not $40 per head in
circulation, and yet the late Secretary
Window says S23. | believe Brother
Dunning is correct. But take Secretary
WINDOWS figures. We have had as
high as $5l per capita Now at II
cents u year, how soon will the debtor
and producer be done justic? After
they are dead? But those opposed to
the free coinage Of silver assure US that
IT we open cur minis to. unlimited
coinage that We will be financially
killed, cooked and served up, smothered
in silver. From what quarter will
come this silver cloud burst? Russia,
Turkey, India, Egypt, and China are
silver money nations. Are they entered
on the worlds bill of fare as "smothcred
in siver?' IF they have too much,
then the taste Of silver must be like
that foi opium, for those nations GER
tainly are asking for more. Such in
deed is their inordinate craving for
silver that they have been termed the
"Silver Sink" Of the world. From
Mexico and South America only, may
we look for any substantial import OF
silver; and with Senator Daniel we say
S'let it come" and the more the better
But we cannot possibly from any and
everywhere expect enough to increase
our currency to what it should be, $50
per capita, or s3,50O,OO0.00O. One
great benefit we would obtain by the
free coinage of silver would be this: AT
present Russia, India and Egypt are
wheat exporters competing with US in
the European markets. Now, an
English buyer can send so cents in
gold to America and buy silver which,
sent to any Of these countries, will buy
dollars worth of wheat. Thus does
does he make 20 cents 10 exchange by
buying in India and at our expense.
How can We long compete with those
countries in wheat, tobacco, cotton and
rise under these circumstances? Free
coinage of silver VIC must have, and il
will increase the currency, aud be
beneficial in several ways. but that Il
viii give US all OF the currency we need
is woful mistake.
As regards a new issue of United
States bonds upon which to base cur