People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1892-04-29
COIN OR GREENBACKS.

age of silver is that the amount of sill !
yer proposed to be put into dollar is
worth only 20 cents, and that the
government would have as much |
right to say for the benefit of |
the farmer that a bushel of wheat |
should be worth S1.0O as that 20
cents worth of silver should constitute
dollar. 1t will be noticed that the
20 cents worth of silver as well as all |
other commodities are measured by
the single standard-gold. Silver hav-
wing been demOnetized, leaving gold
the entire field, the latter has apprecia-
ted in value while silver has depreci-
ated, The government can, with the
same prOpriety and justice, make
41212 grains of silver worth one dollar
as it can make twenty-five eighteenth |
grains of gold worth S1,OO and to so
establish one and not the other is a |
clear discrimination against the one
not SO established. And in equity the
principle of establishing the value of
either or both of them is discrimina-
tion against all the other products of !
the earth. The gold bug says that "the
farmer has as good right to ask that |
the government make his buShel of |
wheat worth S1.0O as the silver king
to ask that his 20 cents worth of silver |
shall be made into a dollar" To be |
sure he has, and they both have right |
to make such a demand equally with !
the gold bug for whom the govern
ment declares twenty-five eight-tenths
grains Of gold shall be dollar and as
sumeS to measure every other COM
modify on the earth with that dollar.
The very logic with which the gold
bug seeks to annihilate the silver king
knocks the props clear ont from under
both. At present the gold bugs have
a monopoly Of money and for every
dollar of other currency issued they
have gold string attached to it by
which they can draw tribute from the
people.
~
We agree with the Nea0 Nation that
1T is entirely unScientifc to make gold
or silver, singly or combined, the meas
ure of exchange; we would certainly
remOnetize silver if gold is to be re-
tained as money" for this would break
the gold monopoly and give a broader
basis of circulation, "but it would be
much more scientific 10 demOnetize
both and make the money of the coun-
try to consist of national greenbacks,"
the supply of which should be adjusted
to fixed ratio of population.
The plain function of money is its
use for transferring values. Intrinsic
value in money is positive detri-
ment to it, for the reason that its
1uctuating bullion value is a con-
Stant menace Speaking of gold and
silver one to the other and diverts
its accuracy of measurement. A
dollar should be only a unit
of value, just as a pound
isa unit of weights, yard a unit of
measurement; a mile unit of dis
tance, etc.
When we get down to this principle
and govern the amount of circulation
on the per capita basis, then we will
have reached the true basis of finance
in a competitive nation. Value will
then be pitted against yalue-a horse
againStitS worth in wheat, Ia cow against
its worth in sheep, house against its
value in land-and days labor against
the essentials of life-and the exchange
will be determined by these units of
value called dollars.
Quoting again from the NeU Mutton;
"Supposing congress were to pass
law, as it has a perfect right to do,
making such greenbacks the only law
ful money, and declaring gold and sill
yer, after a certain date, no longer
legal tender for debts, taxes or customs
duties, giving the pOSsessors Of gold
and silver American coin the option
Of exchanging it for greenbacks at
face value, the result would be a reve-
lation of the true functions of money
which would open the eyes alike of the
monometallic and bimetallic enthu-
siaStS.
while it would be incum-
bent upon the government to redeem
in greenbacks all of its outstanding
gold or silver coin, it would not under
take to maintain at parity such subse-
quent issues of coin as might be nee
eSSary in order to fulfill the letter of its
obligation to pay interest on certain Sc.
curities in gold. In order to prevent
confusion between the issues prior
and subsequent to the the introduction
OF the new system, former issues of a
E NOW PREPARED