Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1893-06-28

on a panic. need not have occurred If
the treasury had all along availed it
self of its option of paying either silver
or gold in redemption of certificates.
Somebody has blundered. Kansas
LET'S HAVE IT, ANYHOW.
A Scientific Monetary System Demaods
an Absolute Legal Tender Paper Dollar
The Silver Question.
The government of New South Wales
has thrown up the sponge in regard to
gold, and proclaimed bank notes legal
tender currency as the only way out of
the financial stringency there. From
gold to fat money at one jump is dis
tinctively kangaroo performance. Chi
cago Mail.
And let the advocates of the single
gold standard take warning that unless
silver is remonetiZed gold also will be
demonetized and fiat money be resorted
TO. for the people will have money from
some source.-Congressma Warmers
Bimetallic Circular
Why not resort to fat money, any
ume of money, free silver will afford
Dut Iitile, II any, Icllol-
Every ounce of gold not used in the
arts is converted to the money use. and
even after being coined the supply of
gold money is constantly being drawn
upon for use in the arts. $4,000 900 in
gold coin being thus used in the United
States during the fiscal year ended June
80 1891.
The worlds entire produHion of sill
yer, except about $50. 600, 600 coinage
valuel annually. is officially accounted
for as used, and no one knows the
wherea bouts of that $50. coo. 900
If the total available supply of silver
had been coined into money at it's coin
age value, we should yet have suffered
loss of money in circulation, by rea-
son of exports of gold.
The theory of meta llism. whether it
be known as mono" or 'bi," offers no
prospect of relief to the toiling masses
of humanity. Let us earnestly con-
tend for an absolute, legal tender, fat
dollar, based upon the unvariable.
elastic and uniform ideal unit of ac-
count, the figure one (D. called by the
name dollar" or any other name.
So far as gold is concerned, there are
no insuperable or even important OBJ
stacles in the way of its demonetiza tion
by the United States and the displace-
ment of our gold money by legal tender
paper money. So long as England and
the principal European nations remain
upon gold basis gold will always be
worth as a commodity as much as when
coined into money. We should be the
% h. - ~
of the gold in our possession.
Mr. GallatIn said: ''If in country
which wants and possesses a metallic
currency Of go, 900, 600, a paper cur
rency to the same amount should be
substituted, the s7O. 900, 600 in gold and
silver, being no longer wanted for that
purpose, will be exported, and the re-
turns may be converted into a product
i've capital and add an equal amount to
the wealth of the country"
AS have stated in previous article,
foreign nations take our gold by weight
as a commodity, whether in the form of
coin or bullion, and the fact that it is
coined into money does not seem to in
terfere in the least with their taking it
| away from us when they desire so to do
| of the silver question we are confronted
with an entirely different state of af-
fairs. The prevailing conditions may
be briefly stated thus:
Our chief competitor in the produc-
ton of wheat and cotton, the Indian
empire, is upon a silver basis. silver be-
| ing the money of account and the silver
| rupee" the unit of value An ounce of
| silver bullion has, in India, coinage
| value of about sl.33. and has depre-
ciated very slightly. if at all. in its ex.
change value, or purchasing power, the
rupee having an exchange value of
| slightly more than 40 cents.
During the ten years, lss1-1s90, an
| ounce of silver bullion, uncoined,
would buy upon the average 646
pounds of wheat in New York, but
coined into rupees. 4s0 grains of silver
would buy, in India. - pounds of
wheat For the ten years the average
| gold value of an ounce of silver bullion
was sI.07, and the average freight upon
- pounds of wheat from India to Liver
! pool was 12 cents. During the ten
wears. then. England could lay down in
| Liverpool - pounds of wheat at an av-
erage cost of Sl.2l.
| Thus, because of the low price of sill
yer consequent upon our assinine silver
| policy, England is enabled to lay down
in Liverpool. at gold cost of sl.2i, a
quantity of wheat that would cost her
S1.41 were silver worth its coinage
value, or $1.29 an ounce That is 10
say, that although the price of wheat
in India. for the ten years avera ged
Sill per bushel, England was able 10
buy it in India at gold cost of 81 cents
| bushel
Now. what does England do? And
how does her action affect the Ameri-
can farmer? The price of wheat for
the wheat-exporting nations of the
world is adjusted and affixed in Liver
pool. England. England now demands
that other nations shall furnish her
wheat at what il costs her in gold to
lay Indian wheat down in Liverpool
Does she get it? Yes. Marvelously dc
the statistical facts testify to the &C.
curacy of the theory maintained by the
Farmers Alliance and the silver men.
| submit the following tabulated
statement: