Mississippi leader. (Jackson, Miss.) 1892-1895, 1892-04-21
IAN HONEST DOLLAR"
A Correspondent Tells How He
Thinks 1t Can be Obtained.
He Objects to the Plan PrOpOs-
ed by the Voice.

| 10 NCll NIltlCu anu SitONS Ihttb WV
writer is we'll posted on financial mat
ters; so much so that one can hardly
read it without doubling his sincerity
as genuine ref0rmer. While some
of his reasoning is simply perfect,
there is in the real important part
nothing that even approaches the
needs and demands of the wealth
producers at the same time it does
seem to me that the gold-bugs would
be left with more power or as much to
oppress the people as ever, as he
leaves everything in their hands that
they could ask for. He seems to be
opposed to the infamous plan that we
now have in our financial system
which only furnishes three ways of
getting new issues to the people, which
is of course condemned by every liber-
ty loving, loyal citizen of this country,
which is all right but then recon-
mends dishonest money and jumps on
free coinage of silver and claims that
free coinage would be against the peo-
pie and to the interest of the money
men. In this he is surely playing into
the hand of gold-bug single standard
money men, ignoring the fact that sill
yer was always the unit of value and
was never below par until it was de-
monetized and then he recommends
floating four dollars on one gold dol
lar as security. Why should the
United States float so much money on
so little security, and that security
owned too by men that are in combine
with European gold-bugs for no other
purpose than to expect every nickle
of wealth produced by loyal citizens
over bare subsistence? The gov
ernment owning no gold, would, of
course, have to buy their gold to an
amount equal to one-fourth of the
money it issues to the people on their
security.
Again. what would the Voice have
the government pay the gold owners
for their gold, gold-bearing lands, of
course? What else could she buy gold
with, and at what price would she
have to pay four for one? Yes we
might just as we'll say eight for one.
Why not? All money would have to
be based on gold because the Voice
opposed free coinage of silver; so, un-
der the Voices plan of reform, the
government would have to carry q
debt interest bearing in gold some
where from two to four times as large
as the amount of money necessary to
do the nations entire business, and
tax the producers of wealth for money
to buy gold to pay the interest, or
give more bonds to buy more gold to
pay more interest OH more bonds, to
buy more gold to pay more interest
on more bonds so on and on and on.
Why does such intelligence as the
Voice use such reform ideas That
paper has been using its columns ably
for the reform mOven ent. That being
so, what are its readers to think of this
new plan?
Another very peculiar argument is
that of claiming the $350,000, 900 has
only been kept at par because the
holders of them knew that there was
800, 100000 of gold held to redeem
them with. l should not think very
much of q note if there was only one
dollar of security for every $3.50 in
the note. 1t is not the gold, but the
peoples confidence in the govern
ment's ability to tax, coupled with its
fiat that makes them so good.
Oh, no, Mr.. Voice, we will not have
any more dishonest dollars, if we ever
get any more. The time is about come
when this old dishonest financial sys-
tenn must go and its offspring of dis
honest dollars must go too. We pro-
honest dollars to all alike. The time
for baseing money on debts and $500
for one as has been done in the old
banking systems is up. We poor ig-
noramases of farmers and laborers
can't for the life of us see how it is
that the product of the gold owners
as miners and silver miners and ma
ton al bank-holders is the only thing
that can be used as money or the secu-
rity for money.
Now | am going to make an asser-
ton and defy the world to. prove it in
correct, and that is this: There is but
one way to have an honest dollar.
That is to have every dollar worth the
same price and to have enough dollars
to do all business and to give all men
the same chance that is to give the
producers of every kind all his pro-
duce of whatever kind is worth ac-
cording to the price fixed absolutely
by supply and demand, and every
other business man all his business as
work is worth, according to supply
and demand, and that is, to demone-
tize gold and silver and then let all
gold and silver, all nonperishable farm
products, all nonperislIable manufact-
ured articles, of every description, be
deposited and so per cent. of their
market value be issued by the govern
ment in legal tender for all debts,
public and private, under law that
compells every article so deposited to
be forced ON the market and sold dur
ing the twelve months from date of
deposit, and this will give consumers
the benefit of getting their supplies
for what they are worth and the pro-
ducer the same; it will even give him
who needs gold and silver, and must
have the article at its real, price in the
market, instead of as now, when it is
backed up by laws that make the
4 mans nr0ducts who owns or doasn,f