The advocate., 1894-02-14


retaEy Carlisle, at their banquet in New York,
that we must have money "good enough for
use in every market where our people trade"
the more dangerous to free institutions and
the progress Of humanity do consider 1t. Is
IL necessary that we should have such money
to effect our exchanges? think not, and for
the very good reason that we do not. use
money for that purpose. The payments are
made chiefly by bills OF exchange, and when
our gold and silver do 90 abroad they go as
commodities, the same as our wheat, cotton,
ETC.
But find that of products other than gold
and silver we are exporting an excess Of over
$500 100000 year. Why do we need money to
use abroad? Under a just financial system we
should be receiving annually over $2OO,OOO,OOO
OF that which other nations use as money. II
we received their gold for our surplus pro-
ducts in fifteen years we would have the
worlds gold In our possession; aye, II we re-
ceived their gold and silver in exchange for
our surplus products we would drain the
world in thirty years. What would they do
then?
On the other hand, what are we to do, hav-
ing put ourselves practically on q gold basis to
accommodate what Mr.. Carlisle calls "the gen.
eral judgment Of commercial nations" or, as
he claims, that "gold is the only international
money, and all trade balances are settled in
gold, or which Is the same thing, ON a gold
basls?"
In the report of the director of the mint for
1898. page 81, find that our net excess Of ex-
81 ACpt tbo Ro0n1 RQG.
897275. Our estimated stock of gold being
S661 100000, (page 49) it would require little
over seven years for them to drain US, and
leave US entirely without money, compelling
us to go back to the old barter system. 1t Is
safe to say that the foreigners win not permit
US to take all their money; nor will we permit
them to take all of ours. But just as certain
as there is established money of the world,
and that limit to one commodity tgold), just
80 certain must the great sea-level OF prices
the world over conform to and be regulated by
the volume Of money (gold) in circulation.
The same win be true Of each nation in the
circuit When any one nation finds that 1t has
less than It's share (this win be clearly desig-
mated by the range Of prices) it will begin a
scramble to regain 1t, such as we witnessed in
our own case last year; by bidding more Of
the products Of labor for the dollar than any
other nation. 1t was our So cent wheat that
brought the return tide of gold to this country
last year. When the necessities of some other
nation compel them to have the gold, they
win underbid us, and away will go the gold,
leaving business here psralyzed, with misery
and ruin in its wake; and this perpetual see
saw win ever continue and intensity until the
most highly civilized, prosperous and intelli-
gent people sink to the level of the most be-
nighted, ignorant and poverty stricken people
using the same kind Of money.
There is not, there cannot be, any escape
from this proposition, The pauper labor Of
Europe and the Ryot labor of India win meet
US in the market OF the world in the wild
scramble for gold, and those who will sell the
product Of their labor the cheapest will get it..
With "a money OF the world" we should at
least have the worlds markets to trade in.
Had we q national currency of our own, as
we had in the eos. there would be some object
to labor in having high protective tariff but
with world money not even q Chinese wall
would avail. To advocate protective tariff
In the interest Of labor and demand "a money
OF the world" is very much worse than "strain-
ing at gnat and swallowing camel"
SURRENDER TO FOREIGN DOMINATION.
Whenever our government surrenders the
sovereign right of legislation to foreign domi-
nation 1t ceases to be a free and independent
government On small and comparatively un-
important matters we are great stieklers for
American independence and superiority. The
Monroe doctrine has been more sacred than
the constitution. The Maximillians OF Europe
will not be tolerated even in Old Mexico. II q
mob in little republic in South America at
tacks an humble sailor in the street. right or
wrong, on the double quick an apology and re-
! marathon Ia JaH nd c.