The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1892-01-15
$4.5OO.OOO
Is THE MAT SUN FOR WHICH TEB
PEOPLE ARE TAXED MONTHLY.

~ L-4L44 LaE-[ . y m EE-h gEzALEL
PEOPLE ARB TAXED AGONFHLX.
FROM the Alliance Gazette.
Notwithstanding the fact that the
silver bin OF July, 1880, has been in
operation nearly eighteen months,
there seems 70 be few people as yet
who have ever given the matter
thought enough to fathom it's iufamy
The masses continue to confound the
silver certificate of the older issues with
those issued under the new law. This
mistake is not confined to the common
people, but we find it alike prevalent
in the minds Of editors and politicians.
IN looking the matter up, notice
that the issue under the old law reads:
'Silver Certificates: This certifes
that there have been deposited in the
treasury of the United States, FIVE ell
yer dollars, payable to the bearer on
demand. " I'VE read from a Ave dol
lar bill.)
The new law reads:
''TVeasusury note: The United
states os America will pay bearer five
dollars in coin on demand"
Now we call attention to the differ
ence- Under the old law they were
redeemed in silver dollars. Under the
lew they are redeemable in coin,
which while it may mean silver
includes gold.
The intentions of the bill when it
was FIST gotten up, were, FIRST, to help
the silver men to dispose of their bull
lion at a good round figure; secondly,
to pander to the popular cry for more
money in circulation; and third, to so
arrange matters that while the first
object could be attained without fail
ure, the second object could be met
and the people hoodwinked, and at
the same time not increase the circu-
lating medium one cent, if so desired.
Let us see how it works. Here for
instance is Mr.. Silver Spectator who
has million dollars worth Of bullion.
He presents it for sale; the govern
ment buys it, he receives in payment
for his bullion, certificates payable in
coin on demand, one million dollars
worth. Instead of keeping it in that
form he at once presents them for
redemption in gold. The gold coin is
paid over. The certificates are
redeemed. There is no provision for
their reissue. They are at once can
| celled or cremated, and that is the last
OF them. No provision of the law
has been violated.
The Government monthly buys $4,-
100000 worth of silver bullion. 1t
issues an equal amount of certificates,
and the same amount of certificates
ale redeemed, or nearly so, every
month. Told in a few words, the gov
eminent is simply buying s4S5OO 600
worth of silver bullion every month
and paying for it in gold. The people
are taxed to buy the bullion, not one
dollar of which is coined, but is stored
away in the vaults, where it can pos
sibly do no one any good.
In view of the facts above stated no
one will deny or doubt that such n
thing can be done. Now is it done
is the question. 1t is. Now let some
of those who doubt what we have said
about the wording in the new issue
start out to find one. After you have
found it read it, but don't read 1t till
2 DAA AtO lAtAA ~ 4 OU may bIOUdDty ulGt
one if you keep up the search. To
show how very scarce they are, some
time ago DR.. Branch, of Sterling,
became interested in this matter and
inaugurated a search. He gave it up
; He has son in one Of the banks OF
this city and lie put him on the look
out for one, and if we remember the
doctor rightly, it took his son nearly
three weeks to ind one, although he
was handling thousands of dollars
every day.
Could it be possible that that
amount of money could be put in circu
lation monthly and there be none OF
it in sight? Certainly not.
The great majority of our people
suppose that the bill is all right, Will,
. in fact it is the most deceptive piee,
of class legislation ever enacted by tia,
national legislature, and the people
should never be content until they hur
fIOm place and power the heIlions whC
instigated and helped to pass it.