Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1893-07-13
row DrsrRUsr AFFECTS TRADE.

A Plain Statement of the Facts of the
Present Time.
Edward Atkinson in the North American Re-
view for July.l
When doubt exists about the quality
OF the money trade stops. Credit cannot
be given even to those who are entitled
to it when the credit OF the money itself
is doubtful. That is what affects trade
now. The quality OF the money which is
lawful in the United States is doubted.
Why? Money that is doubted is bad
money. 1t is not fit to be used.
The country is full of the elements OF
wealth and prosperity the materials for
food, fuel, shelter and clothing are in ex-
cessiye abundance, but they must be kept
moving. They are kept moving by the
use of small amount of good money
and a great amount Of credit. Credit de-
ponds upon the quality of the money.
The quality of the money is doubted.
Any one can measure the evil if he can
once conceive OF the check or stop to
trade which comes to $100,000,00O every
day. Stop this traffic week, and those
who have small capita, legin to fail.
Stop it two weeks, and the banks begin
to fail. Stop it month, and universal
panic ensues. Stop it in part by doubtful
credit, and trade is depressed everywhere.
1t is so now. Why?
This doubt OF the quality OF the money
has been caused By the attempt to put a
dollar made of silver into circulation TN
der an act of legal tender, which dollar is
not worth as much after it is melted as it
purports to be worth in coin. Bad money
which is legal tender drives good money
out of circulation. Bad legal tender
money is now driving good money made
OF gold out OF circulation. Trade is checked.
Men are beginning to fail. Banks are
subject to ruin. Distrust prevails every
where.
The only definition OF good money is
that it consists of coin which is worth as
much after it is melted into bullion as it
is purported to be worth in coin. Gold
dollars are good money because they are
worth as much in bullion as they are in
coin. Silver dollars are bad money be-
cause they are not. They serve the pur-
pose of good money only so long IS the
government redeems them in gold or its
equivalent. How long can the govern
ment continue to do so? These are facts.
Let any one contest them who can.
The present administration is making
use of all the lawful power that exists to
put stop to this distrust-to maintain
the credit OF the country and to prevents
panic. 1t must be supported by banks,
bankers and people alike, else the dis
aster will come. That disaster will be
due to the temporary success of the advo-
Gates of the free coinage of silver dollars
which are not worth as much after they
are melted as they purport to be worth in
the coin. There is hardly man in this
country who cannot today name import
ant undertakings which have been and
will be stopped until this cause OF dis
trust is removed. The distrust stops
trade; it stops enterprise; it promotes
bankruptcy. The stupid or malignant
enemies of the credit of the country must
be held responsible. They are the advo-
Gates Of the free coinage of silver dollars
of tull legal tender, which are now bad
money.
These men are not bimetalists. The
bimetalists scout them. They are either
ignorant persons who do not know what
bimetalism is, or else they are special
advocates Of the so-called silver interests,
who are ready to defraud the working
people of this country for their own per-
sonal profit. 1t is time to stop being
tolerant on this question.
The proposal to coin silver dollars with
out limit and to force people to take them
by an act of legal tender is an intolerable
fraud. The purposes of its advocates can
only be justified by commencing their
sincerity at the expense of their intelli-
gence.