The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1893-12-07
semi-civilized peoples of ancient or
modern times.

semi-civilized peoples of ancient or
modern times
That 500 bill that settled 500 in
debts in one day and perhaps $1,000
next day, and SO on ad infnitum, did
not stop and rub up against pile of
stored gold or silver to acquire it's
pecuniary yardstick measuring quail
fcation. That characteristic was en-
graved upon its face by Uncle Sam,
and its legend that gave it value and
power as circulating medium"
currency" was in these words, cone
Hundred Dollars" The metal mono
maniac may disparage it as ''fiat"
rag, but it got in it's honest work that
healthy day.
Did any one of the seven recipients
of that 800 bill on that business day
stop and run down street half a mile
to a bank or other precious metal
storehouse and convert" it into what
it was ''based' on, into gold or silver?
Had he done so, he would have been a
tarnal fool. wasting his time, and he
would have been procuring something
he did not need or want.
The entire seven men who each re-
ceived that 500 bill that day possessed
what is the only element essential for
successful circulating Medium
idence in it as yardstick of value.
Not one of them expected to go and
convert it into metal In every sense
of the word, virtually, that 500 bill
was Fiat money"-money containing
no intrinsic or commodity value; vet,
it beautifully performed its function,
and it's forceful history is unconsci-
ously told by banker who no doubt
views with horror any suggestion of
''fiat" money or circulating medium
not based to some extent at least, on
precious metal commodity.
Another point: If a thousand mil
lion dollars of paper currency is based
on, say one hundred million dollars OF
''gold reserve" which is the bankers
fraud and deceptive theory of circulat-
ing med .um, ISM nine hundred million
| dollars of that circulating medium,
that paper currency, "fat" money pure
| and simple? Certainly, and the float.
ing of it as based on gold is merely a
diqnified confidence game" played
upon the con6ding users of the
engraved financial yardstick, the
measure of value. Why not be
honest and appeal to the intelli
gent people to discard meta
money, a commodity of intrinsic value
and as one great government family
agree upon a UNCONVENTIONAL circulat
ing medium, supplied by the govern
ment, the popular, uniform green
back, to an amount not to exceed
double the total debt payable yearly
from the people to the public creditor
This one demand for the popula
greenbacls, currency in which tn,
real people have confidence, woul,
float it always on the crest of higl
wave of confidence and stability /
you owed 500 taxes to the Unite
States, $tO0 to the state, $i0O to tn
city and 500 other public dues. an
one year, and greenbacks at thei
legendary face measure in dollars wer
always receivable at par therefor, 20
would feel about tax-paying time tina
, those yardsticks of finance had wor
derful intrinsic value, just as goo
and stable as gold and silver. Wha
more could you crave?
! This debt-paying capacity would il
vest the greenback with potent il
trinsic value that would never desel
it. The banker, or money changer, {
. stock gambler or editor found slande
, ing it or attempting to depreciate
, should be dashed at the whipping POI
! for the first offense, and shot as
, traitor for the second.
G
WHAT the country needs most is
! law suspending the purchase of co
gressmen with federal patronage, al
: deofficizing the man that does it.
Old Supply and Demand seem
! have taken to the woods since Il
a wheat crop is 80 per cent less tn;