The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-08-19
ANDREW JACKsoS's MONEY.
Judge Lewis Quotes Old Hickory to Rec
reant Democrats-No small Bills.

SAN JOSE, CAL, Aug. Z. 1888
To THE EDITOR: In my communication
of July "A my aim was to mass financial
statistics, and thus place before our peo-
pie many important facts not generally
known. and also to suggest remedy Tor
the financial condition of the country
which now confronts US. The late cam
paign, which resulted in placing the gov
eminent in the hands of the Democratic
party, was fought on the two great govern
mental questions of the century. to-wit:
the tariff and finances. 1t is difficult for
the ordinary as well as the educated mind
to determine what either OF the great
parties meant by their resolves, the
principal purpose OF which on either side
was to catch votes"
The great apostle and saint OF true
modern Democracy, Andrew Jackson. was
a man of the people, and upon these i'm
portant questions, which he met and
solved during his administration In the
interests Of the whole people, he spoke
with no uncertain language. He meant
what he said, and said what he meant. If
the present administration shall solve
these problems on the Jacksonian theory,
the people will be benefited and the nation
be prosperous. i believe in the financial
measures of this Democratic saint" In
the discussion of the question President
Jackson, December. 1885. said:
1T may be confidently anticipated that
the use of gold and silver as a circulating
medium will become general in the or
binary transactions connected with the
labor of the country. The great desider-
alum of modern times is an efficient check
upon the power of banks, preventing that
excessive issue of paper whence arise those
fluctuations in the standard value which
render uncertain the rewards of labor. IL
by this policy We can ultimately witness
the suppression of all bank bills below $40,
il is apparent. that gold and silver will take
their place and become the principal cir
culating medium in the common business
of the farmers and mechanics of the coun-
try The attainment of such a result will
form an era in the history of our country
which will be dwelt upon with delight by
every true friend of liberty and independ-
ence."
These words of the great apostle have
the true bi-metallic ring; the silver horn
OF plenty" filled with gold: the two metals
forming one standard. scattered broadcast
among our people as their circulating
medium, together with paper currency in
bills of not less than SO
No doubt il was in the mind of the
congress shall have the power Ito coin
money, regulate the value thereof and of
foreign coin," that the whole money of
the nation should be furnished by the
national government, its value fixed and
the circulating medium be the same in all
parts of the country. Why should the
power OF issuing bank bills be given TO
any banks, state or national7 Why not
oil A
thus afford full protection TO the bill
holder Ii may be that IL will De objected
that the currency cannot be expanded or
contracted so readily in response to the
demand. Is 1t not safer TO place the power
of expanding and contracting our currency
IN the hands of the national government
than in the hands of the great banking
corporations7 I'm the hands OF the officers
elected by the people. rather than in the
hands of the monopoliesf
Ny scheme for regulating the currency
and coin is simple and efficient. 1t makes
our circulating medium gold. silver aud
currency all with the stamp of the ma
tional government impressed thereon. II
gives us sound currency at home and
abroad By retiring all gold bills less
than so and all silver bills less than S.. il
makes the two coins the money of the
people. Gold in abundance is furnished
/ from the customs TO pay all our ohlira-
I tons which are payable IN gold. and sill
+ YER is furnished by our mines 10 supp!y
+ all the silver necessary, and, in fact, We
( will he reTnilted back 70 the happy Jack
sonian era. IN which gold and silver will
+ be the money Of the people
lit j. necessary 10 contract the cur
reney the power Is with the government
80 contract IL, and 80 as 20 its expansion.
+ Finances viii he under the care and con
troll Of the government and the people.
rather than than that OF the banking mo-
uopoly or the gold or silver bugs.
The banks throughout the country
/ would at once become banks of aeposi, and
exchange and discount rather than banks
% issue bills. Way should the government
issue more bonds for the banks 10 issue
currency upon Instead OF bonds bearing
( interest issued for the benefit of nnoaopoIv
let the nation issue its gold aud silver
. coin and currency. secured by bullion and
coin aud the faith Of she repahlie.
let Is hope that the coming Democratic
congress viii drink deep" from the fogn-
tain Of their old saint aud give Us snch
legislation a he las recommended on the
( financial question. The condition can.
i not be met BY theory" We mast have
prompt, intelligent aud patriotic action.
J. K. LEwgs.