The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-08-23

silver and paper dollars, clothed with
law power, are only material represent
atives of the mathematical fact deter
mined by numerals, so that when two
merchants balance their books and find
that there are. say twenty units Gents
or dollars) due the one from the other,
the law steps in and designates ma
terial called dollars and cents, and
clothes them with legal power, so
that A can say to B, you must take
these for the difference between us.
These dollars and cents being invested
by law with legal tender power, B is
compelled to take them, and the ac-
count is closed.
Now, having defined the ethical as
well as the mathematical processes by
which money is created and its func-
tions determined, I now proceed to
close this letter with certain sugges-
tions, which if acted upon at the next
session of congress, will, believe, re-
lieve the present stringency of the
money market, in this country at least,
and save many of our most useful in
situations from bankruptcy and ruin.
1. I would recommend that the
Sherman act, relating to the purchase
of silver bullion, be repealed, and that
free coinage of silver be substituted in
it's place at ratio of 16 ounces of silver
to of gold, giving to the silver dollar
full legal tender power as before the
act of 1878.
2. would have congress authorize
q 0f h0 RI
certificates of 81, 50, IS, SO, $40, 500
and $500 in payment for either gold or
silver bullion at the above ratio, ''pay-
able in coin," or in other words, in gold
or silver dollars, at the option of the
government. Then if it is found that
the full find of gold and silver does not
finnish a sufficient volume of
money to carry on the business
of our country with ease, I would
further authorize the secretary of the
treasury to issue, from time to time, as
the business of the country seemed to
demand, a government debenture," or
legal tender bill of exchange" in
suitable denominations, not to exceed
$500, 100000 I would then put this
money into circulation: ~ by paying
off all the domestic current expenses of
the government. (2) I would institute
a national bureau of works, build post
roads wherever needed, and make all
necessary improvements upon the har-
bors and waterways of the United
States. I would also build suitable
post Offices in every town and village of
1900 people or more, and United States
courthouses, where needed throughout
the United States This would at once
employ the idle laborers of the country,
and would, moreover, put into circula-
ton volume of money equal nearly
to that which we had at the close
of the war. We carried on successfully
with this kind of money one of the
most gigantic wars known in modern
times. Can we not carry on commerce
in time of peace with the same or SINH
lar kind of money? If it be said that
foreigners will not take this money, 1
answer, It's we'll. Should they refuse
to accept it in exchange for foreign
goods, it will be blessed God-send to
home manufacturers, and will be bet
ter protection to home industries than
any tariff ever devised by human skill
This money can all be covered back in
to the treasury in time through taxa
ton, either on incomes or otherwise,
and be reissued if necessary
EDWARD EVANS