The herald., 1893-08-13


must be paid in ''the best money" Th;
is the delicate and plausible euphemisn
resorted to in order to gloss over and, i
possible, hide from the world the odioul
and repulsive fact that what the cred
itors always want is the dearest money
the money that costs the people tht
most sweat and toll to obtain-and which
as time passes, grows dearer and dearer
These interested parties affect to be
leve that gold is, by nature, the only
money metal( ignoring the fact that un
til silver was displaced by hostile legis'
lation it was, and for fonr thousand
wears had been, the principal money
metal OF the world.
According to all fair canons OF con-
etruction the best money should be and
is money of unchanging value, q money
that he bargained for, and which is all
that the creditor is equitably entitled to
receive.
But, Mr.. President, while they can
not change the figures of the debt, they
are enabled, by crafty manipulation
of the money volume, to do that which,
to the debtor, means the same thing, as
the following story will illustrate:
A usurer of the coarser type had lent
$4,000 on q neighborinR farm, for
which amount he took the farmers
note, secured by q mortgage on the
property. He coveted the farm, and in
his anxiety to secure it took his banker
into his confidence. He informed the
banker that he wanted to get possession
of this farm, but it would bring $15, 900
under the hammer, and he did not care
to pay 60 much for 10. II have subtle
chemical" said he, "by which can OBJ
literate from the note and mortgage all
trace of the rightful amount ($10, ,0O0),
and that done l can insert $l5 900.
Then, with the genuine signatures on
the note and mortgage l can bring suit,
and as the farm will not bring more
than the face of the note, l shall sue
ceed to the property" \
"His friend, tho banker, however, ad-
vised against the course. which he char
acterized as dishonest, but vulgar, and
as eubjecting the perpetrator OF the act
to serious penalties. Honesty" said the
banker. lis the best policy. But" he
continued, 81 can suggest plan by
which you may accomplish the same
end without running counter to Law or
the views OF society. Why not
join our propaganda in advocacy
of honest money. Gold is decreasing
in quantity, and as the world has been
ransacked for it in vain, it is likely to
continue decreasing. If we can strike
down the twin metal, silver, and de-
volve the entire money function on gold.
it will double the purchasing power OF
money. Then the foreclosure of your
mortgage will be sure to take your
neighbor's farm. and probably leave
him in your debt besides. Instead OF
being punished for this, you will receive
plaudits of the best society for the
fnesse you have displayed and the firm
stand you have taken in favor of honest
money, and you will sake high rank
among the 'wisest and moet conserva-
tive of our fnanciers.' If your
neighbor makes any objection to your
action, you may be able to secure his
incarceration as lunatic; but il not,
he will como to be regarded in the COM
munity as a dishonest crank who
wishes to pay his debts in a deprecated
money; for it is the constant and
assiduous care Of our guild to teach that
only the dearest money, that which is
the most difficult for the laborer, the
farmer and the mechanic to get ia honest
money, and the dearer it is the more
honest it is."