The state chronicle., 1891-04-28

hing n, the C,nv4,s& ion Of 1887. O.. n
,as. i, v~a'iou - in-fhA C,nventons
Of tue thir-e-n = It's. which sat in 1dg
ment upnn II. which indicates that any
one supposed the United States should
become a money lender. 1t has the
power to borrow money "to pay the
debts and provide for the common de-
fence and general welfare of the United
States" To secare these ends, the pow
er of taxation was given The defence
must be COMMON and the welfare GEN
ERAL
The subject is very vast one, Mr..
Editor and | have neither time to dis
cuss it thoroughly. do not claim to be
an autroIity on either constitutional
law or business methods. but | am so
deemed on financial subjects. Unfortu-
nately for US, we have men who can fig
ure out wealth for themselves and 9th
ers with slate and pencil, but who never
| could make dollar, nor own one long,
| gwen 10 them. They can tell others
what they ought to do-and yet never
did = a thing themselves except indulge
in visionary figures Government is a
practical matter of business. and no. a
mere theory. Its proper administration
can only be brought about by prudent
successful business men. Drea amers can
or iy produce confusion and rum.
/ | shall not advise my agricultural
friends what practical, hoaes7 methods
.hey should adopt. Some men would
pronounce against it as impudent. But
I have passed many farm and saw
plainly by the poor barns and Sta
bles, the neglected and exposed
implements, the inefficient work
done, how it was that the owner made
| T. lei, "a
intelligent economy to make agriculture
or any other business profitable. Ii a
man does not use them, he will be poor
If cotton is worth 20 cents pound.
If the government had the power and
the means-by MAKING money-(and il
has no power except to COIN money! -tt
give to EACH man, woman and child one
hundred dollars, how long would it be
before the large part would CONGEsT int
a comparatively few pockets But
will not pursue that, though it Is yer.
, inviting.
) There may not be money enough il
, the country to meet the requirements o
the people If not, l would be glad t.
J see just enough and no more. But ther
: are more than five dollars per capita
3 Too small q volume would increase th'
Q purchasing power of dollar too much
z An infi ated volume would reduce 1t to
? much and unsettle values. We shoul
f have two prices-a coin price an
r a currency prics. If we dealt a
It all with foreign nations we should hav
r to use the coin value in our commercis
i business. We might get more pieces {
Q paper for what we had to sell, but W
l. would have to pay more for what "
It bought. What advantage would it be I
), get 20 per cent. more for cotton. and pa
70 20 per cent. more for supplies2 We nee
Y jnst so much PAPER money as eau b
:, maintained at par, with coin, and not
y dollar more-for coin is the constit'
It tional standard-"the lawful money
it the United States"-and all printe
Y paper to serve the uses Of money, not
1T made subservient to that.
y am interested diversely in farmin
$. manufacturing and banking. But
y want all classes of our people treatt
With seven handed Justice" l desi
in that all shall reasonably prosper-b
iu none, at the expense of others. N
ID whole course, while in public life, shoy
it that. l am now simple citiz IN and n
a. wish is -''JUsTICE and the PUBL
at VEAL" WALTER L STEELE.