The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1891-05-28
SILVER AND MONEY.

yer and Gold and Its True Functions
with an Incidental Reference to the
Labor Problem as Applied to Canton.
Ed NEWS DEMOCRAT: AS the silver
question is being discussed pro and con,
l would like to add an idea or two.
The New Y ork Sun says; "Mopey nas
two functions; as medium ofeS-
change, and a measure Of value" And
by common consent money has &C
quired two missions; one in the inter
est of capital, which accumulates by
the use of money, and one for the ben
eft of industry and business.
It's function as a measure of value is
essential to capital only. And Mr..
Harter attaches more Importance to
money as measure of value than he
does to the volume of money, or as a
medium of exchange. Mr.. Harter was
raised and educated as capitalist, and
is practically capitalist, consequently
his views on the money question, no
matter how honest his intentions, must
necessarily be colored in the interest OF
capital.
agree with Mr.. Harter, that the
volume of money is not essential to SO
cial, industrial or business prosperity
As medium of exchange for the con-
yenience of business, the volume of
money should be sufficient to meet the
demands of business. But the want of
it only causes inconvenience and moth
ing more. / also agree with Mr.. Harter
that the free coinage of silver would be
class legislation, as it would increase
the price of silver bullion, which would
enable all sIch as could command or
monopolizs silver bullion to speculate
in that commodity. And in my opin-
ion it would retire the gold dollar, be-
cause all such as were able to command
gold would hold it, believing that the
silver dollar would depreciate in value
in time, and there would then be an
opportunity to speculate in gold.
There is a superstition attached to
gold, which has existed thousands of
years, and it this superstitious desire
for gold, that has built golden stairs
in heaven. and paved its streets with
gold, in your mind. So long as that
superstitiOus desire for gold lasts, it
would be impossible for any kind of
legislation to make silver equal to gold
as money.
But is the volume Of money essential
to social, industrial, and business pros
perity? Suppose you increase the vol
ume of money to 500 per capita and
divide it among the people, and allow
few to monopolize the bounties of
nature, from which industry must pro-
duce what people need. How long will
iG be until they will have all the money
and there will be abject suffering. On
the other hand free the natural oppor-
tuDities, and allow industry to 6ll up
the country with what people need and
take every dollar out, and industry and
business will prosper.
Set practical shoemaker down ina
community where the material and
social conditions of the people are such
that they wear shoes and want them,
and l care not whether there is any
money in that community, or whether
that shoemaker has any money, ne will
go to making shoes and en-
ploy labor. But locate that
same man III a community
where people cannot afford to wear
shoes, and care not how much money
there is in the banks, or how much
money that shoemaker may have, he
won't make any shoes, or employ any
labor. And the same viii hold good
with all other industries.
Thirty-fve years ago l commenced
working tor g. Aultmau q Co. on Mon
day, aud the following Saturday i went
into the Office and asked Thomas Ton
ner for three dollars to pay little bill
had made during the week. He look
ed at me and said, we don't do that
kind of business. | will accommodate
you, however, on this occasion, but
hereafter remember we pay no money
W lduu0 DGCducC W 70 lRNGA v HoO W.
make arrangements to get hands, on
things they need on an order, but we
have no money. Here was a prosper
GUS firm, with little money, that EN-
ployed all the surplus labor there was
in town. There was no such thing as
"tramps," no men standing on the
street corners waiting for some one to
employ them. Anybody that wanted
work could get it. Farmers came and
bought machines without money on
one, two and three years time. Yet Ia
Dor was all employed and happy. Bust
ness men then sold more goods per
capita than they are selling today, at
better profits, and there was more gen
eral prosperity than we find today with
our six banks. And / hold that it is
not the lack, but the manipulation of
money, that causes panics.
" A. j. KNIT.