The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1891-03-03
FIAT MONEY,

In reply to your correspondent at Rock
| must say he made some very good
points for arguments sake, but know |
there / was born n the Gennessee Val
ley, in New York, where America first
proved that she could support herself
from the products of the soil. | have
helped to elect - Republican presi-
dents, and would help to elect another in
1892 if they would stand by their faith
and throw off the chains that bind us to
the British throne Your correspondent
says you can not make fiat money any
more than you can make a fiat star. etc.
Let us see. This vast and immense unit
verse with its numerous planetary svs-
TENS devolving in the sldevlal heavens
was fiat creation, though it took time
to complete it.
This beautiful world was a fiat world,
but it is still bein, perfected. Man was
a most remarkable fiat creation, but was
not complete until Eve was subsequently
added These United States of America
was a fiat creation on the reading of the
declaration of American independence,
treasure to preserve it. And the creation
of a standard value in gold was a fiat
law the moment congress declared it
such: it might, could, would and should
have been paper then as well as god if
we but declared it So | would TO God
we had; it would have been better for
us now. We never will be free until
we get rid of this burden of gold.
We renounce British rule but copied her
laws. This was our fatal mistake, our
conditions, circumstances, surroundings
and makeup were different, and our
laws and currency should have cen diff
ferent-and may be yet We could
close our harbOrS tomorrow ana suffer
no inconvenience. We could pass law
making legal tender dollar a measure
of vaiue. That moment 1t would be
worth premium over gold and we
would be glad to take up our bonds in
Europe with the deprecated gold. 1t
would come as volunteers did during
the late civil war. | have faith to be-
.lieve the majority of the people in this
country would rejoice to be free of
European alliance with gold. This is in
accordance with our liberties in being
free. If all American industries were
protected as they should be we would
need no foreign goods nor gold to pay
for them with.
We are community of int rests, and
all the annual profit and gain if spent in
America would be Americanized: if
spent abroad it is lost. Let me illus
trate further: The aggregate wealth of
the United States is estimated at $50, 000,-
000.00 Suppose each individual had
81 600. and allow 10 per cent profit for
the use of it. Now, if each of us spent
that 500 in foreign land, at the end Of
the year we would have but the 81 900,
while the increase of population would
reduce the wealth per capita. How long
would it take to makeus all poor? Every
dollars worth of goods we import we
help develop foreign industries to the
neglect of our own.
If the principle of protection had been
carried out Kansas would have been one
of the most prosperous states in the
union. We can grow nearly everything
America needs. Our agriculture is the
foundation of our independence.
We now have the finest prospect for
the best crop of wheat in the land. Its
relative value next harvest will be 20 to
so cents bushel Gold will be here to
buy it for 90 20 80 cents bushel, which
we can exchange for goods made of
Australian wool, China silk, South
American hides, or take Cuba or Brazil
sugar or moiasses. If we were permitted
to grow these articles we could retain the
money and increase il several fold This
shows defect in our protective laws.
II requires So, 800. 000, 600 of gold to make
n. 1 6
CIV, so that each will have their proper
allowance, but you cannot produce it.
This shows defect in our currency
laws. Shall we exhaust America TO pro-
d &c it, No verify; not one dollar OF it
under my plan is necessary.
have provided for the surplus of legal
tender notes by making them convertible
into interest bearing bonds converted
back TO currency at the option of the hold
or 10 cover ali fluctuations in business.
Who then would want gold? Ii would
be useless extravaganza and soon be
bv legal tender notes. The
best money ever known custom makes
slavish gold. but independence makes a
free home currencyi Gold is one OF the
relics of monarchisn Americznized as
slavery was of barbarism, and as alcohol
Is OF despotism, ali OF which are incom-
pauble with truth, liberty and independ-
ence, because gold costs Us Lilo Of all
We possess, and when we have got il we
do not want it, but prefer paper money
10 II, secured not by ITO but all We have,
present and prospective
II. f BIDwELI-