The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1892-05-14
OUT OF REACH.
"0Id Crank" and Tryphena Discuss
the Silver Question.
9 The Latter Makes Some Common.
Sense Suggestions on the Subject
of Coming Money.

Tryphena looked up and asked, "Old
Crank, can you explain to me what basis
there is for all the discussion and appar-
ent difference of opinion about the coin
age of silver, which l read about in the
papers? I can't quite understand what
either party or anybody wants."
tTryphena," l answered, don't you
commence pulling your little common
sense brain with questions of such mag
nitude as that. 1t takes the most astute
men Of the Nation--I may say of the
world-to comprehend the intricacies Of
such questions"
''Well," said she, sometimes when I
think about it it appears to me that if you
men politicians would come down from
your altitude of imaginary intricacies
and do little common-sense legislation,
on common-sense principles, for the ben
eft of common-sense people, the country
and the world would be bettered.
TO my little common-sense intellect
las you call it, there should be no intrica-
cIeS about any such question. 1t is one Of
the functions of any Government to coin
money. In doing this, it is the duty of
the Government to decide the numbe and
names of the coins, with the weight of
pure metal and weight of alloy in each,
and their relative value TO each other.
With the real value of money tie Gov
eminent has nothing TO do. This is in
comfortable, and Is governed by condl-
tons and circumstances innumerable. a
dollar may bring in exchange to one man
tour meals of yictuals, TO another man
two meals, and TO another man one meal:
or, 1t may bring TO the same man one, two
or four meals, according to conditions and
circumstances. Ten dollars may be eX-
(,h9ntYnl yn or tTy
bushels of wheat, corn or barley, accord
ing to conditions or circumstances.
ITO any one who will think for an in
slant, il Will be apparent that the real
value of money (which has been called its
purchasing power is governed by the
lnexorable law Of supply and demand,
which affects the transfer of everything
Which is eXchangeable.
Money represents one of the transfer
able articles, and IS a great convenience,
because of its imperishability, and be-
cause of its easy transportation and
because it can be exchanged for any
article, according to the desire of the
holder. The Government which coins it
should exact q percentage to cover the
cost OF coinage, and, If advisable. per-
centage 10 cover the ordinary loss by the
friction of use; and with these protective
conditions established, l cannot compre-
bend any possible good reason why any
Government should not coin all the COIN
able metals offered for such purpose.
'If more than is needed for convenience
is coined, IL would regulate itself by the
inactivity of the excess. If less than IS
needed is coined, most nations have re-
sorted to the coinage Of paper. Also,
coined paper is of often more convenience
than metals, because of its easier trans
portation.
''All coins, whether Of metals or paper.
should be issued by governments. What
would benefit the world generally, is an
international treaty among civilized ma
tionS, making all metal coins of similar
weight and purity of metal, with an
agreement that they should pass inter-
changeably. Even paper money should
be included IN this agreement, il it can be
effected.
ut is self-evident that such an arrange
ment would be a great convenience to all
who travel or traffic in countries other
than their own. Possibly a few lin COM
parison) bankers and brokers might be
affected adversely, but private interests
should be made SubserVient to the public
good.
The idea Of a government going into
the market as n SpeculaiOr, to pay more
or less for coinable metals than they will
coin into, appears to my little common
sense intellect as worse than absurd, be-
cause 1t is self-evidently a conniyance
with private greed and against the public
interest"
''Tryphena,' said I. impressivelv. sis
1t not better for such humble individuals
rs you and TO submit quietly to the con-
dltlons imposed by the wisest and most
eminent men of the nation instead of
offering our advice or grumbling at what
we are neither expected or desired to
comprehend OLD CRANK,