The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1892-04-27

\ eWs:
"stranpe all this difference should be,
Twixt twecdIcducl and tWeedledee."
byron.
AS our sage of Enoree insists that
there is no analogy between the system
of finance proposed by HIM and the
French Assigoats or the Argentine Ced-
ulas. and as have said that his scheme
is very similar in its essential features
to these and other fiat money schemes,
it may be regarded as incumbent on
ME to establish my assertion. This
will not be at all difficult to DO. have
admitted, however, and do admit, that
in certain features" our sage's scheme
is not exactly like any other have
heard of, and so far is entirely new and
untried.
Stated in general, the A$signats were
based on the confiscated lands and
other real property of the Roman Cath
olic Church. This property, be it noted,
belonged to the government itself, and
not to its individual citizens.
The Argentine Ctdulas are based on
lands belonging, not to the government,
but to the people as individuals. Ac-
cording to our sage's plan, if I under
stand it Alright, and certainly would
not Intentionally misstate it, one-half OF
his proposed currency would be based
on the lands of the people as security,
like in the Argentina, and the other
half on certain products of those lands
cotton, corn, wheat, oats, tobacco,
potatoes, peanuts, etc.-for once we
start on this line, where are we to find
a stopping place? This latter half is
the part that is entirely new and un-
tried. Now, l would leave it to any in
telligent and candid man, not led away
by hobby, to say if these three
schemes are not ':similar' in their les
sential features;;' and further, if the
advantage in the way Unavailable secu-
rity, does not rest with the assignat$;
for there the property on which the
currency was based belonged to the
government, and not to the individual
citizens; consequently could be disposed
of directly to make good the currency.
But we are told the assignats were
issued when France was in the throes
of revolution, toru by "internal dissen-
tions." Europe "bonded" against her,
and that a restoration of the mon
arch would restore confscated prop
was nrssn. that the "basis of the notes
forgets his hisstty. worthless" Our friend
issued when the rev, These notes were
phant, and the Rep1Gi!on was tnum-
flushed with victory, were arinles'
rough-shod over all Western anGa
tral Europe. Germany, Austria, Itaiee Gu
Holland, Belgium, Switzerland, all
were PROSTATE before the brilliant
you ng generals of the Republic; and
even England was trembling for fear of
invasion. These confiscated lands of
the church were Of immense value, over
four thousand million francs, and have
not been returned to the church by any
succeeding government. In SO far, then
the security was good; far better than
that offered by our sage's pan. And
yet the assignats proved utterly worth
less, and brought dire disaster on
France.
In the Argentina, we are Informed,
''few favored corporations were char
tered to place the cedulas," and that
great frauds were practiced" This is,
no doubt, quite true. But these "favor-
ed corporations or Favored" individ-
uals, which amounts to the same thing,
will always be part and parcel of
such transactions, and frauds will
always be practiced, for the entire |
transaction is based on fraud. If a |
government perpetrates fraud |
on its people, it may rest as
sured that its agents will prac-
tlce fraud also in their own personal |
interest. If our government, with all |
its hoasted intelligence and wealth,
should attempt the fraud Of forcing on
the people any such stuff as money, we
may rest assured its agents, taught by
the example of the government itself,
willpractice fraud all over the country.
We need not expect pure water from an
impure fountain. Nor need we expect
honest agents in the service of dis
honest government. All history teaches
the contrary.
But we are assured that by our sage's
plan, We would have "real money, not
promises, to pay" Our government is
to 'create" money, not promise to pay
ii. Well, our friend seems to think he
has found the philosophers stone, for
which the alchymists OF old searched
in vain for so many ages. IF these
wise men of the middle ages had lived
in our day, they need only to have
made pilgrimage to our sage on the
Enoree Reservation to have obtained
ali they were in search of. He has
found that the fat of government is
all that is necessary to m0ke-to create
"real money" We might criticise our
sage's latin, as to the origin of the term
"hat," but that does not matter We
are agreed as to the meaning, and that
is sufficient.
Fiat money" then, means money by
decree or 0rICr Of government. as dis
tinguished from what we old fogies
have been accustomed to regard as reul
money, that is gold and silver, with its
full intrinsic value. ''In the beginning
God created the heaven and the earth;
he said let there be light, and there