The advocate and Topeka tribune., 1893-05-17
THE PRESIDENTS POLICY.
Elk Governor Ohas. Robinson Differs With
thA Chief Exsontiva.

inc pOslblOn our preslqenG occupies relR'
tive to the currency question: am not
tinancier; do not propose to quote from
Dives, Cr@sus or any similar authorities,
but write from the position of farmer
to state some things as they appear to me.
1t seems to be generally conceded that
the federal government shall make and
issue the currency for the use Of the
people. This currency may be made Of
gold, silver or paper or any other mate
rial that is suitable. All that is neces-
sary to make money Is the stamp of the
government, and all that is required to
make money Of equal value as currency
is to make it all equally legal tender for
all dues, debts and business transac-
tions. When this has been done the
government has done its whole duty. 1t
has no business to provide that the sec
retary Of the treasury shall at all times
stand ready to exchange one kind Of cur
rency for any or all other kinds. It
would be no more absurd to require
him to exchange at all times greenbaeks
for gold and silver coin, gold and silver
certificates and bank notes than to re-
quire him to exchange gold coin for all
other kinds OF currency. If a person de-
sires to convert his bank notes into sill
YER or greenbscks let him 60 to the
bank or into the market place and make
the exchange without annoying the
president or secretary Of the treasury
about it; and so, if part of The currency
has commercial value and it is wanted
as bullion or an article Of commerce, let
the parties who want it get it. It is no
concern Of the government. II its com
mercisl value is not greater than it's cur
rency value it can be had at par for any
other kind Of currency, but if it is greater
it is unsuited for currency, as it will not
circulate as money when it is worth
more for some other purpose. What is the
present trouble? Why, apparently, gold
is worth more just now as bullion or an
article of commerce than as cArrency,
and the president deems it his duty to
go into the market and procure it for
such as want 1t. Even, it is said, he
contemplates paying bonus for it by
issuing bonds, s,whose market value shall be
1Oor 20 per cent. above par, to accommo-
date these men who want gold Lor it's
commercial value. 10 farmer his po-
sition is untensble, absurd and unjust.
He has placed himself and the people Of
the country absolutely in the power of
the class Of people who make money by
dealing in money, and who want to be
able to corner the money market at will. |
Suppose the president maintains his
present position Of exchanging gold for |
all kinds of currency? Then the
money dealers have only to gather
up all the kinds Of currency and |
present it to the sub. treasury to require
an issue OF premium bonds sufficient to |
buy an amount Of gold equal to this
currency. This will accomplish two OBJ
jectS most dear to the money dealers:
First, an issue of bonds for banking pur-
poses equal to the amount of gold that |
can be found in this or any other coun-
try; and, second, reduce the currency in |
circulation to the amount OF gold avail
able, and this would all be national |