Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1893-12-26
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~sPuS0 VI suns ouO Iuture ortl.
ciss to answer. The answer will not
satisfy al. 1t may satisfy none. II
will bs candid, however, and without
aPpsal TO any unworthy motive.
The Peoples party Is still in it,
formative stage. Il welcomes discus
sion. 1t does not claim to be infalii-
bic. 1t aims TO bring back the gov
eminent to the principles and psac-
sices OF the fathers. II constantly re.
vsrts to first principles. 1t believes
that men ara OF more value than
things; that human rights are more
sacred than vested rights; and that
in governmental economy the crea.
tor Of wealth should be 1t least Of a.
much concern - the wealth created.
So far as human law may Of right 60,
il demands for all equality of oppor-
tunity in the race for life. 1t there
fore opposes al determinations By
law in favor of the few At the expense
OF the many. 1t is the deadly ene-
my Of every form of monopoly.
Its leading policy is opposed to the
three great monopolies Of money,
transportation aud land. Its mission
=
is not to destroy, but to preserve. Its
methods call for peace. Its instru-
ment Of regeneration is the ballot.
II appeals TO the calm reason Of the
people.
The Republican and Democratic
parties used to profess and practice
these principles. They have now
largely ceased to profess, and wholly
ceased TO practice them.
II is in the above spirit that these
articles will be written, and the ques-
tion first discussed will be the ,nonop-
oily of the money of the people.
In my published letter to Senator
Stewart, it was shown in brief that
the currency with free coinage) could
be increased to any desired amount
by collecting the customs in coin and
issuing coin certificates against it.
In addition to the custom duties,
the coin reserve could be still further
increased under free coinage of both
metals, by one hundred million per
annum, making three hundred mill
ion in all each year. TLis can be
done by issuing to the mint depositor
of bullion, coin certificate of one
dollar for each dollar of bullion de-
posted, the bullion when coined to
be placed IN the treasury, and three
dollars of coin certificates additional
issued against it. With two hundred
millions of coin derived from customs,
and one hundred millions from the
mints, = paper issue of four to one
(of coin reserve) would, on a coin ba-
sis, admit of an increase of circulat-
ing medium of twelve hundred mill
ions the first year. The practical
difficulty would be to determine at
what point to stop the increase, not
to what point such increase could be
carried.
In a few years almost the entire
stock of gold and silver in the coun-
try could Gf desired) be drawn into
the treasury; all outstanding paper
drawn in and cancelled, coin certifi-
Gates substituted therefor, and our
monetary system, consisting of gold
and silver coin and but one kind of
paper money made legal tender, so
simpliied that any one could under
stand it.
Our present no system, the result
of thirty odd years of makeshifts, is a
disgrace to an enlightened nation.
1t surrounds the question of money
with mystery, and enables the money
changers to expand to almost any
amount, their interest-bearing cred
its, when in the end this whole fab
nc of credit rests upon gold alone,
instead of resting upon the different
kinds of money authorized by law.
BY this means the money changers
have blinded the people to the man
ner in which they have been robbed
of the fruits of their enterprise and
labor.
We have by law the coinage OF
gold unlimited, because gold is scarce
silver coinage forbidden, because sill
yer is not scarce; gold certificates
redeemsble in gold; silver certificates
redeemable in silver; treasury notes
redeemable in coin; national bank
notes redeemable in greenhacks;
green backs redeemable in coin; and
(under the practice of the treasury