People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1893-10-20
F0RCIBLY PUT.
TIE MONEY QUESTION IN =
NUT SHELL.
GOLD AND SILVER BEING SEPARATE
COMMODITIES
hould Not BE Used as a Medium Of
Exchange Between Other Commodi-
ties-Paper Money the Only Hope q
the Toilers OF America

"H0n Iho Iued VI purely SClchSAiS
and exclusive paper money is sug-
gested as stable medium of exchange,
some unthinking person will exclaim,
"Oh, but you must have gold to re-
deem your money with" Well, can
you tell why there is any necessity of
''redeeming' money in gold any more
than in diamonds, platinum, wheat,
corn, or bacon?
Again, fat money alone can extin--
guish debt; all other methods of ex-
tinguishing debt is simply barter, and
can only be accomplished by the con-
sent and agreement of both parties to
the transaction; fat money alone is
legal tender tosatisfy debt.
Should paper be made the sole legal
tender and medium of exchange. then
debtor would have to sell his wheat
corn, beef, gold, silver, or diamonds TO-
get the legal money to legally ex-
tinguish the debt, just the same as he
now has to sell such commodities and
commercial values to get the legal
tender that is made money by fat of
law with which to extinguish his
debt, says writer in the Waterman.
1t is conceded that making gold and
silver the money metals, adds about
one-half the ruling market price to
those metals. Should they both be
demonetized and a pure paper money,
receivable for all dues to the govern
nent, be adopted on some exact ratio
of population, both these metals would
fall in intrinsic commercial value one
half their present rating. This being
conceded, where is that memorable
standard of value" that the gold bugs
claim for gold because of its ''intriusic
valued"
The most stable currency, the most
interchangeable medium of exchange can
be secured only by selecting material
having no commercial or intrinsic
value, and then keeping the volume OF
such money in even proportion and
ratio with population and volume of
business. For instance, if Sc, 100 is
necessary to transact s3j, 900 worth Of
business on a cash system then to keep
all things running smoothly, it would
require proportionately larger
amount to transact $4,000 worth of
business, and such volume of money
should not be placed in the control
and command of the banks to be used
as an engine of contraction and inha-
ton at will for usurious prof: as the
sole legal instrument fer extinguish-
ing debt and exchanging values pre-
pared for the people by the govern
ment, it should be a ailable, direct
from the government, to all the peo-
pie who have values, and should not
be doled out through banking institu-
tons who use this privilege to extract
all the usury it is possible to squeeze
from industry and commerce
The government has been supplying
millions upon millions of currency to
national banks at ! per cent per
aLnum, and they in turn charge the
people all the traffic will bear. s, 10
and ~ per cent per annum. II a
farmer or manufacturer goes to the
government with equally good seeuri-
ty, why should he net get the money
direct at the same rate the bank does?
What reason is there that the farmer
and manufacturer should be compelled
to pay % per cent per annum to the
bank for the use of the same
money which the government fur
nishes to the bank at l per cent per
annum? For what reason should in
dustry, production, commerce, be com.
PEELED to pay tribute of IL per cent
per anuum into the Golfers of private
fortunes for the privilege Of using tho
needed medium of exchange which
the government provides Tor its peo'
pie? Is there any form of aristocracy
that imposes a more needless, more
unjust tax, more complete and mex
cusable robbery of the industrious
many for the benefit of the idle few?