The midland journal. (Rising Sun, Md.) 1885-1947, 1893-08-11
QUESTIONS OF THE DAY.
The Government Should be the
Banker.
E. E. EWING.

portant question of government is
money. This question outranks and
overstands all others, and it has in all
ages. Money has been the motive
power in all countries that built up
civilizations when properly used and
tumbled governments and nations into
chaos and ruin when abused. Com
paratively few persons have fully under.
stood the nature and functions of
money, and it has been more of an in
strumant of injustice than blessing
and civilizer for the human race.
By the civilizations which have risen
and persisted, gold and silver metals
were used exclusively out of which
money was manufactured or coined for
the reason these metals were compare
lively scarce, the least distructible by
the action Of the elements, are of so fine
grain they take the highest polish,
are in consequence highly ornamental,
and SO tough and pliable they are
readily wrought into any desired form
which the artist may fancy. Their
limited quantity compared with other
metals made them costly, requiring
much labor to secure small quantity
of them. So their universal use in the
fine arts made them always in demand,
and their smallness in bulk to their
cost of production made them easy to
transport and conceal in times of danger
or fight.
Those then, were indispensable quail
tiles for money in ancient times, which
were eras of war, slaughter, conquest,
and determination among nations. But
these conditions of the human race have
almost passed away or become SO en-
tirely changed as to develope wholly
different civilizations and social rela-
tions. Consequently the necessity for
this commercial value of money has
we'll nigh ceased to be. Money is only
used among civilized nations as tool
Of commerce to promote exchange
Even the sign of value which the
money is, has been in a large measure
dispensed with, and book accounts sub
stituted in its stead.
The science Of money has come 10 be
SO well understood that the simple ac
of the law.making power of the nation
can provide all the money that a natior
require to transact its business anG
effect its exchange of products. II
order to accomplish this the government
has assumed the entire and exclusive
privilege of coming or making all thu
money used by the nation. Any imita
tors or parties who attempt to infringe
on this zealously guarged prerogativ'
are condemned as counterfeiters, ant
severely punished. This a wise ant
very necessary provision, and is indis-
putable evidence that commercial valu
in money is no longer acknowledged
for if it were, any person possessing
gold and silver could convert them int,
coins, and put them to use as money
but the fact that such is not permissible
is the strongest evidence that CONNER
cial or Intrinsic value Gas many misuse
the term has ceased to be an elemen
in money, all its power is derived from
the sovereign will of government.
The present constructive use o
metal money is great hinderance Il
the public acquiring clear conception
of the nature and functions of money
and this confusion of thought is mad
use Of by exploiters and spectators il
money to fleece the public to an incon-
ceiyable extent. The fact that tn,
government makes the nations none,
for the use of the people, and for NJ
other purpose whatever, and that thi
act of the government has no regard t.
the moneys intrinsic or Commercial
value, should cause people who ar
compelled to use large sums of none,
10 transacting their business, as the,
use tools, horse and steam, 10 inquir
why they should hire this money a
such rate Of interest as they pay. ant
why they should also be constrained t.
hire it from corporations which hav
opened offices in every town.
These corporations are not permitte'
to make or coin any money. VIII
should the government not complete tn
action by distributing the money whicl
it alone assumes the power to coin o
manufacture
If there is large revenue to b
secured for the simple act of distribut,
ing it, why should the government no
be the recipient of that revenue, AM
apnlY it to paving other expenses 70