The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1893-03-17
HONEY AND BANKING.
Ea. SMITH THINKS HE HAS A SIMPLE
AND HONEST SYSTEM.

The demonstration of silver was
wrong and is still wrong, and congress
ought to undo that wrong at once.
The government ought not to be buy
ing silver bullion and laying it away in
the treasury vaults or coming a stated
amount per month. All this is wrong
and very great outrage upon the peo-
pie, and it is the duty of congress to
undo this great wrong and do so speed
ily. The government has no more right
to buy silver on speculation than it has
to speculate in land, cotton, wheat or
shoes. 1t should not run mercantile
or brokerage business. and it is equally
wrong to limit the coinage of silver to
certain amount. or to any extent what
ever.
The government should say what con-
stitutes money. 1t should. for instance,
say that silver and gold, when legally
coined. is money and shall be legal ten
! der in payment of all obligations.
The constitution gives congress the
power to coin money and regulate the
value thereof, and this right should be
exercised justly. in all good faith, SO that
its action will not give any class of our
! people an undue advantage over others.
| When congress shall say that legally
coined silver and gold is money and shall
say how much gold and how much silver
shall be in a coined dollar, only one more
duty will remain for the government to
perform. which is to coin the silver and
gold that is offered for coinage, without
the slightest regard to the circulation.
Let the people attend to this feature.
And congress should be careful to es-
tabllsh a correct valuation of the money
the government coins. 1t ought not to
say that Is grains of gold or 4121 grains
of silver shall constitute dollar, unless
the silver in the silver dollar is worth as
much in the worlds market as the gold
in the gold dollar, and vice versa. Their
values respectively should be carefully
ascertained and thus fixed. and then tho
coinage of both should be as free as GO
ing to mill.
This will put our money on a fair,
honest and solid basis. and it will be
simple-free from any ''muddle" and
complication; we will have ''honest
money" and no complaint of unfairness
or injustice will be heard from any hon
est man.
| Banks are great convenience to the
public as well as profit to the banker.
! The business of banking should be by
law public. and of fairness and justice to
the people and the banks
Before the war banks were allowed to
issue SD of currency for 81 of specie.
and they were also allowed to keep the
gold and silver thus put up in their own
hands and use it, as well as the triple
amount of paper they issued. This was
all wrong as well as unsafe and exceed
ingly unjust to the public, and it gave
the banks a very great and a very I'M
just advantage over the people.
When man goes to banking. he should
first put up in gold and silver dollar
for every dollar of paper money he pro-
poses to issue. and this gold and silver
should be placed out of his reach, where
he cannot use it in any way. to be held
for the redemption of the paper currency
he issues. and he ought not to be allowed
| to have his bank notes engraved and
| printed by such engraver and printer as
he may choose to employ: they should be
furnished to him. properly numbered,
certified, signed and registered by the
official or department having the custody
of his gold and silver. The present plan
of the national government furnishing
notes to national bank is on the right
| line in this respect.
Under such system bank bills would
! be safe. and no one would hesitate to &C
cept them.
Before the war we always examined
bill carefully before accepting it to see
what bank had issued it. Some banks
had the reputation of being safely con-
Quoted by honest men, and their bills
were freely taken. Others did not have
such a good reputation, and their bills
were looked upon with fear or suspicion
and were not freely taken. At the pres
ent time we all know that if bank fails
the United States government has the
means in hand to redeem the bills. Hence
when bill is rendered we never examine
it to see what bank issued it, or whether
the bank is in Georgia or New York or
Alaska. We look at it only to see if it
! is genuine. We freely accept any bill
| of national bank if it be not coun-
terfeit
| When gold and silver is thus put up
for the redemption or security of bills
| that are issued. and the bills thus sup
piled by the department having the Gus
| tody of the coin. banking should be as
| free as going to mill.
| Under such conditions every man so
disposed should be allowed to set up
bank or to issue bills without opening a
bank if he chooses to do so. and the time
of the Legislature and the courts should
not be taken up with the granting of a
! charter. and the right to issue and circu-
late bills should be as open to every man
as to go blowing for living. The bills
would be safe. and the man issuing them
would have no unjust advantage over
| the people. or any privilege to which he
would not be justly entitled.
And there would be plenty of money,
and none too much. Then no man would
raise the false cry that silver is too plenti-
full and must be demonetized or great
er number of grains Of it must be put in
a dollar.
And plenty of men would be found
willing to go into the business of bank
! ing. Honest men can always be found
ready to go into legitimate, money
making business. if dishonest men are
not given superior chances to exercise
their dishonest methods.
Let Us wipe out our unfair and unjust
methods and have free money, free bank
Tug. free trade and no unjust advantages
IL