Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1891-10-07

for the reason that Europe will Le
forced to buy wheat at an increased
price. That is to say as the market
price in Europe increases our market
price increases. In other words the
price Of our surplus grain is fixed in the
markets Of Europe. The Judge at
tempts to prove the beneficent effects
of an irredeemable paper currency by
quoting from Franklin.
It has been stated that Franklin, be-
fore his death, repented of ever having
advocated the irredeemable currency
Of the colonies; but whether this is true
or not when the people came together
through their representatives to form
constitution. they had had all Of this
sort Of blessing they wanted, and abso-
lutely forbid the states from making
anything but gold and silver legal ten
der. Mr.. Madison, who was member
of the convention, said that the conven-
tion had ''cut of the pretext for pa
per currency and particularly for max
ing the bills tender either for public
or private debts"
Almost all the thirteen original states
had tried an irredeemable paper cur
rency. The fiat money idea had carried
nine out of the original thirteen colo
MES or states by an overwhelming ma
jOrity, and yet when they came to form
their constitution they gave up this sys-
tenn which Judge Mckay would have
US believe was fraught with blessings,
without a protest, and bound them
selves not to try it any more. The fact
is, the system was disastrous failure
and the wise men who formed the con-
stitution had sense enough to see it.
They knew when they had had enough.
The Judge criticizes my argument IN
support of my assertion that the only
reason the standard silver dollar has a
purchasing value 20 per cent. greater
than its bullion value is the fact that
the government is virtually pledged to
redeem it in gold. The trade dollar"
says JudgeMcKay was made to circulate
at par by reason of its being legal ten
der in any sum not exceeding five dol
lars. OF course if the legal tender quail
ification was what made it pass it
would only pass in sums of five dollars
or less; but everyone will remember be-
fore the decline In the price of silver
it passed in much larger sums than
that.
The Judges style of getting around
the greenback dollar illustration is as
he would say unique" John Sherman,
says the Judge, nullified the exception
clause on the greenback and then it
rose to par. John Sherman's order was
made in 1873 when the greenback was
passing at 81 or SO cents on the dollar,
but before Johns order was made, while
the exception clause was in full vigor
and with all its deadly effect, was still
resting on the greenback it had manag-
ed to climb up from 35 cents on the dol
lar to SO cents on the dollar. There was
a rise of some SO cents on the dollar that
the Judges explanation does not ex-
plain. Speaking Of our standard silver
dollars, Andrews In his manual on the
constitution, page 100, says they are
kept in circulation by the fact that
they are practically redeemable in gold,
which is the real money of the country %
cite this as an additional argument in
support of my position.
The Judge says it ought to be very
plain to me why the Peoples party pro-
poses to charge the farmers for the use
of this money. Nevertheless it is not
plain. If the government can make
money that is good enough for the farm
or by an edict Of law, it can make mon
ey that is good enough for the printer
and engraver the same way, and it is
unfair and unjust to charge interest on
something that costs it nothing, and 1
want to say right here that this ought
to be good Peoples party doctrine.
George c. Ward, your chief writer on
finance, says: 1.-The power of money to
Cypress is its interest drawing attri-
butte. Interest is not properly part,
attribute or function of money, and the
practice of taking it is accursed of God
and baneful curse to humanity" And
that, submit, is the logical con-
clusion of the Peoples party idea. In
terest implies wealth or property for the
use OF which the interest paid is rental.
But this money proposed to be issued
by the government is not wealth, and
has no right to exact interest or rental.
Our fresh but hairy senator, PETER,
has said that it is the duty of the gov
eminent to provide homes for all of its
citizens. Now homes are tangible; they
have intrinsic value. 1t might be lit
tie difficult for the government to get a
large and varied assortment of homes
for free distribution among the people,
but if PETER is right and the govern
ment should 60 into the business of
supplying free homes to the people what
excuse Is there for it refusing to furnish
them with free money? Especially
should the government refrain from GO
ing into the business of collecting in
terest which according to the Peoples
party financler, Mr.. Ward. is "accursed
of God and baneful curse to humani-
ty." Respectfully,
L. A. MCNEAL.
1