The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-06-30
uso rs n nor is it required that they
have any such value" Farrar-

should have any such value" Farrar-
I Manual of the Constitution.
. Even this statician assures us that. "Th
value of gold and silver in tho markets o
the world is a matter that is wholly withou
the power of the governments to control Q
regulate. Then why should we not al
unite in proclaiming the absolute folly o
urging our government to attempt creatin
metal money of a parity of bullio,
value? This writer further assert
in the article under eonsideratio
worlds commerce." 1t will be difficult TO
! the practical mind of the citizen of tn
United States to comprehend this assertion
when he daily sees that the standard of GU
entire domestic is the money o
account into which enters every variety o
our currencey. He attempts to prove hi
assertion by the theory that the value o
the entire crop of any production is deter
mined by the excess, above consumption a
home, used for export.
The most valuable crop of all we produce
is hay, the value of which is never deter.
mined by the price of the quantity avail
might also be cited, notably. vegetables ant
fruit; then, too, our production Of coal
iron and other ores, and of most of our fac
tories. Mr.. Thomas Barring testified
before a commission of the British
parliament that in the panic of 1866
al SaAOuSta ~ was AhpconlAAU W ! 9
single rupee %(silver) on the deposits OF
10000 of gold-silver, not gold, being the
legal tender. The testimony of that emf
nent merchant iu statement of fact will fal
outweigh the theory, impossible to demon
strate. that "gold is the standard of the
demonstrate that the balances of the
worlds international commerce are chiefly
adjusted upon a gold standard, but this
does not sustain the general assertion,
which cannot by any possibility be correct
as to the domestic in exclusively
silver-usinR% countries, and especially. as to
the enormous trade in those countries in
commodities not entering into ex port.
For a nation such as ours, now capable OF
adjusting its balances of international com
merce, with an ample supply of gold and
silver from its own mines, and steadily
maintaining a prosperous condition from
it's own industry and commerce, to ''tie up
to a gold standard" as urged by this writ
or, would be the sheerest piece of lunaoy
ever advocated. Such a course would throw
away our present advantages and place the
material destinies of the people of the
United States in danger of the insolvency
lately seen in South American and among
other peoples, to whom England lends free
" its credits and demands gold in return.
Gold for credit, gold for interest, gold for
insurance, gold for profit, and these failing
to save her own credit at home, England
shouts to ali the world, LEND. send me,
gold to save me!' Shall we fetter ourselves
tor the purpose of aggrandizing England?
A statute proposed for all the states, and
which has passed the senate of Pennsylva-
MIA by an almost unanimous vote, reads as
follows: "An act to prescribe the mode of
payment of obligations of debt contracted
to be paid in money. Be it enacted, etc,
That from and after the passage of this act
all obligations of debts, contracted to be
paid in money, shall be payable--all stipu-
iatlons to the contrary Notwithstanding
in either the notes, gold, or certain silver
coin authorized by the congresses of the
United States as a legal tender.'
OF this act a distinguished jurist, ex-
Judge +. Carroll Brewster, wrote: ut e1-
presses more law md more common-sense
in briefer compass than any other statute
upon our books. Its justice is 80 apparent
that it is at first sight difficult to
understand the necessity for introducing
it; but once that it is explained, ali
must acknowledge the benefcent ac-
in this century will have more far reach
ing and important results. In order to give
it full effect it should, as it no doubt
will, be adopted by all the states.
The proposed statute does not restrain
the right to deal in gold and silver bullion,
for in that state the contract is one of bar
ter, as to which the government has mover
declared a policy which contravenes such
right. Volumes of so-called political
economy have been written, based on the
idea that there should be unrestricted free
dom OF action between men to make what
ever bargains could be made, and that such
contracts should be enforced by the whole
civil and military power of the nation.
The conclusion of an argument made by
the present writer advocating the passage
of this measure will further answer the
question of. why not free silver coinage
without legal tender ~value?" 1.-The time
has fully come when the statutes of the
separate states should hinder a rapacity
that attempts to evade the laws of our coun-
try that it may gather gain, ~listless that it
is planting in the hearts of the toilers un-
happiness, if not despair, and rendering the
relations of members of society to zach
other antagonistic and %revengefui. No re-
public can live if the laws of its states can
not be made to conform to the statutes of
the nation, nor can it exist in peace md
honor with one currency for the lender of
money to demand of the debtor, and an
other, deemed of less value, for the com
MERGE and the business of it's whole people"
In concluding the article under discus
sion, Its author, manlfesting plainly that he
feels that the source of all knowledge of
finance and the functions of money rests
with the gold doctrlnaires, expresses the
conviction that "the farmers" are fast COM
ing under the influence of new convictions
aHo lurtHeE huOWlouge. with becoming
modesty, tho farmers may with pride and
hope reverse assurances of satisfaction that
some of the doctrinaires of to-day are
gathering knowledge from the wisdom of
the First congress of the United States.
composed almost entirely of farmers.
which, sin order to form Il more perfect
union, establish justice, insure domestic
tranquility, provide for the common de-
fence, promote the general welfare, and
secure the blessings of liberty to ourselves
and our posterity," did, among it's first i'm
portant statues, decree it supremely wise to
secure bi-metallism for legal-tender money.
The wisdom of government il ever fonnd
In the use made of it's resources. That gov
ernment is wisest which reserves for times
OF peril forces of protection and strength.
Contdence is most assured when conscious
that latent power exists. The use of paper
az material for coming money may in the
future. as In the past, rest with the necessi-
ties OF public welfare or emergencies of
peril; but. whatever the raw material of
currency shall be. the fluctuation of values.
within our domain, can be prevented only
by making every variety a full legal tender;
for then only can we feel that we nave in
substance but one currency. and then only
assured of the approach to financial tran
guilty.
Eye, Ear. Nose, Throat.