The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1891-10-17
Continued from page t,ro.)

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borer, because labor increases wealth an; su,
ports the abOrers There is only loss in likeness
Money being the thing with which we buy ana
SELL it should be SO abundant that every valuable
thing should have a price and find purchaser
Il great numbers OF farms, for instance, which
are among the most valuable and useful species
Of property. are offered for sale without buyers.
it would be very strong evidence OF a scarcity OF
money.
q. Can an irredeemable paper currency be
kept at par with gold?
A. 1t would be perfectly easy to do 50.
O. How could it be done:
? A. BY having little of it. Its value,can be
raised to any extent by simply contracting tho
quantity in circulation.
Q. Is it of any advantage to the people at large
to have their currency at par with gold?
A. None Whatever.
q. Is there any stability to the price Of gold:
A. No more than to anything else. Its value
depends entirely upon the law Of supply and de-
mand. If the quantity should be increased, it,
value would fall, while diminishing supply will
inevitably raise the value. Should our gov
eminent demonetize it, as was done with silver,
its value would be lessened, should it be univers
ally demonetized, probably three-fourths Of Its
present value whuld disappear
Q. How can we trade with foreign countries II
our currency Is not on a gold basis?
A. Foreign trade consists in the exchange of
products of two nations, and is not affected by
the fact Of currency differences. No nation ex
ports its currency until 1t is in the last stages OF
poverty.
@. What is the difference between trading
and trade?
A. Trading is the exchange OF money fo
goods or goods for money, but trade implies the
competition of the double transaction-the ex-
change OF our surplus products for those Of an
other. Domestic trade requires the use Of none!
twice. Foreign trade is accomplished by sys-
TEN If exchanges, by the balancing Of accounts
and almost entirely without the use Of money.
q. Is it desirable to have different kinds of
money in circulation in the same country:
A. No the best kind should alone be used ,and
that Is always a single kind.
@. What kind would probably prove to be the
best for the United States?
A. United States treasury notes, but differing
in form from those in present Use.
Q. How should they differ:
A. They should be irredeemable notes.
Q. What does this mean:
"A. ~ ucStllS IlltI lHc sOtcIIlIlcuV SIUuu uUl
promise to give something else for them on pre-
SentatiOn.
Q. Why not?
A. Because it is ridiculous to propose to re
deem circulating medium which is intended 70
permanent use, and which, from the nature OF
the case, cannot be presented for redemption.
@. What would be the advantage Of this feat
IRE?
-culIp v,O1-a Tho tai tor
money uses exactly the same kind Of money that
gold now is excepting that it would be cheapl,
produced, and an abundance Of it might be had
Q, But will such currency circulate?
A. Yes. All human experience goes to shcw
that nOn-redeemable currency will circulate Just
as well as any. Our irredeemable paper currency
at the close of the war circulated perfectly ard
performed every Office Of money, and would have
continued to do SO down to the and of time if it
had been let alone.
q, Why is this so?
A. Because people want currency for circu-
iation, not for redemption.
Q. Will not such currency grow cheaper and
cheaper, and finally become worthless?
A. No such u currency cannot change itself.
Those who use it cannot change it, Only the
government can change it, just as it can change
any other institution Of the country. Any gov
eminent good for other purposes is fit to make
money,
Q. But Is 1t not necessary that dollars, which
are to exchange for all sorts Of valuable things,
should have value in themselvesc
A. Dollars do not exchange for valuable
things. They merely help us to exchange one
valuable thing for another. No one would give
any valuable thing for mere dollars II lie was
obliged to keep the dollars. We take dollars
only because we can get rid Of them.
Q. What is necessary to the improvement OF
our currency?
A. Only that intelligent voters take the trouble
to examine the matter carefully and refuse to
believe what interested parties tell them.
q. Who has an interest in decelving the voter
in regard to money?
A. That class Of persons known tho world
over as the creditor class--a class possessing
large wealth-cOmpOScd Of such as do not work
for living, hut who live upon the the producing
class by lending them their wealth
Q. What would happen II this class should
have their loans all paid?
A. They would lose their income and be
forced to work for their living
r. q. How do they seek to avoid this fate?
A. BY keeping the rate Of interest so high that
the surplus earnings of the workers absorbed by
the payment Of the interest, leaving the princi
pie Of the debt untouched.
q. How do they get such large interest?
A. BY controlling the money supply and
keeping 1t small. This is the secret Of the tire.
mendous efforts to keep gold the only real money
II debts must ultimately he paid In gold, there Is
not the slightest probability that they will ever be
paid, and the creditor class will 70 on drawing
interest upon them for ever.
q. How can the producing class protect them
selves and their children:
A. by abolisl,ing the gold standard, undo,