The Superior times. [volume] (Superior, Wis.) 1870-1912, 1892-03-19
Dangers Of SILVER Coinage.


Prof. J. b. Parkinson, of the state
university, delivered his fifth lecture
in the second course on Economic"
at the Spencerian Business college
last evening. The lecture was well
attended, and at the close of the ad-
dress there WAS a discussion of the
topic i'll which all present participated
Mr.. Parkinson in his lecture said:
The term money is somewhat vague
and indefinite. Like most terms IN
D slitcal economy, il is used to convey
different nolions. Three conceptions
of money are quite distinct. There is,
first, What has oeen termed the popu-
lar. Whatever passes freely from
hand to hand In payment for commodi
ties or services, leaving no Recourse at
law upon the giver, answers TO this
conception. Another is the leg IL
Whatever medium of exchange the
law compels parties to accept, III the
absence of special agreement, answers
to this notion of money. Finally, we
have the economic or value conception.
Whatever passes freely from hand to
hand, and pays as it goes, not through
the force of law or custom, but through
Its intrinsic worth, answers to this
conception Whatever meets this re-
quirement must be valuable in itself.
This condition is not necessary under
the other notions of money.
Recognizing these three concep-
tions, excluding from present consider
alton subsidiary coins and token count
er5, the money of the United States
includes: % gold coins; ~ the stand
ard silver dollar; 81 United States
notes or greenbacks; (D national bank
notes; 90 gold certificates; l6) silver
certificates; "a treasury notes OF the
act OF 1890. FIRST three and last--full
legal tender--that Is, Il satisfactory
tender at ltw between private parties,
unless special stlpulation to the con
trarv The othtrS-legal tender Ill
limited sense only Fourth, fifth and
siXth-money in the popular SENSE
Second, third and scytnth-ln both
popular and legal sense, First-money
III every sense. second In some re-
| spectsl m0nSrel
No country ever furnished better
! illustrations than our own of the
working of Greshan's law: In every
country where two legal moneys are III
| the good Word and clipped coins
W II drive out full weight CONS and Il
! deprecated paper currency VIII drive
out both gold ANA silver
| The greenDacks We're an inconvert-
! IDLE and pure credit currency until
| 1879. They are now a dangerous ele
ment Under the later decisions of
] the supreme court they may be rels-
sued when redeemed and may be in
definitely multiplied.
| National bank bills are being rap
! idly withdrawn from circulation. The
security IS 100 expensive. Silver Ger
! titicates and treasury notes are more
! than supplying their place. These are
!! strictly representative i'll character.
I \ sort Of surrogate blls--Dot cheap
money in The better sense, or iii any
sense. In the coinage of silver and
| bullion we are nearing the danger tne.
There are silver CONS and silver
| bullion to the amount of more than
/ $3.50 CSC ,e00 now lying unused in the
| treasury vaults. and to this immense
| sum, seven and half tons more are
/ being ADDED every working day III the
/ year This vast and constantly grow
] ing aggregate stands before the world
as a perpelu menace; ana 50 long rs
/ it reInt!ns boarded is of but It'll. s4oTt
service than If Still hidden lii Gnii,-
! covered mines The certificates and
I notes representing IL are not redeemed
/ but continually go the rounds, moving
i in current payments, but never them
selves paid, and never presented for
payment.
Then volume is rapidly increasing,
/ which, sooner or Later must raise
prices above the commercial standard,
i disturb business relations, call gold
out of the country. and leave us on Il
! silver basis Fort unattly the present
j hountiful harvest has opened to Us,
! for moment, Il way of escape from
! what seemed an impending national
embarrassment. This, however, does
not remove the danger, but only post
poneS IT.
" For nearly twenty years now, the
! government has been purchasing and
/ boarding silver. and since July 18th,
1899. has actually added to the store
nearly $500 tons, yet we have not only
failed to restore its oli-time relative
value, but the metal WIS never cheaper
in the worlds market than 1t Is to-
! day. ''--Sentinel, March 18th.
learn the wretched character of TIL
editor of the Leader. When Il few
SINISTER politicians find that they ca,
not use the Leader they Will be unable
to keen themselves from telling tn,
world what Il vile. corrupt sheet it Is
ANYWAY, and what Il miserable thing
its editor is and has always been. IL,
is no doubt a very bad man, but he i
his own master and does as he pleaseS
| Leader.
This is about the fifty-siNth time il
; the few weeks he has had the paper
. that the editor of the Leader has civ
en- to the public the above item in sui
) stance. only varying little i'll word
, ing. He is simply advertising himsel
; for sale to the highest bdd 70 c, ST
: and his advocasy of any candidate Wi
, place that candidate under the ban Q
, suspicion. 10 say the least But he
: not his own master. nor does he at d
times do just as he pleaSes, notwiti
, standing his continual boasting. .
i man who is all the time parading HI
own personality before the public is
mighty good man 10 carefully watch.
=---S------
L: Is Democratic Measure.
New Orleans Times Democrat: tn
/ chief argument presented against tn
{ passage OF Il free coinage bill as far a
e the democrats are concerned was il
f ineNpediency. There is. in some sc,
| tions, reason to fear that the demo,
. racy will he hurt by bringing this issu
Y into the campaign. On the othe
7 hand, If majority of the democrrt
want free silver. and this appears l
Q be evident, they cannot be expecte
5 TO surrender to a minority The vot
+ in the house showed the democrats I
d be Well nigh unanimous on this poin
and they have a right TO consider til
). cif7-o.- ISL &C :, lie p,e~r,f5r ,,,ooSnra