New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-08-13


money ourselves and pay no interest? quoth l.
u" That question could be asked only by
nerson who believes in fat money.
Exnerience shows this and nothing more: mat
our Government can issue limited amount OF
notes payabe on demand. and keep such notes III
mar SO long as ii redeems them when DEMANDED
Experience also shows that when the amount Is
81 large that the Government fails to redeem
them on presentation such notes fall below par
4 government might issue S6oOOOooo Oh such
notes and keep them good when II could 90 noun
ing of the kind with ten times that amount
man worth $4,000 might issue promissory notes Oh
SIM each 10 the amount Of $1,000. and those
,o.es might all remain good His we-known
obi,,tv IN nav that amount would give people
confidence in his promise. Let it be once under
stood. however that there are $1,000 OF snch
notes out against him. and those notes VIII IN
stantly fall below par. Because government
can issue a limited amount Of promises 10 pay
and keep 1t good. ii by no means follows that Il
%, do the same thing with an unlimited amount.
This Popuiist wri:er nowhere indicates no"
much of sucb money car ne issued by a govern
ment and be kept good assert that the
on,oun, is limited Does he deny this? II not.
WHY did he not name the limitation? OR does ne
believe that the Government can issue money
navable IN nothing redeemabe in nothing and
that too without any limitations as to time or
amount. and vet that such stuff will be good
money as long as Il exists? A Populist may be-
lieye such a thing possible do not.
People earn money by all kinds Of labor. Men
who mine gold and silver furnish the world
with substances which have been used for ages
as money The Government coins those sub
stances for the purpose OF showing the quantity
and quality OF each piece. The people furhiSh
the metal out OF which the coins are made. by
the process Of coming the Government creates
nothing.
Money IS used to facilitate exchanges. People
make money by producing the articles out OF
which money Is made or by producing the ar
ticles that can be exchanged for money When
q man gives his note for 800 in exchange for
horse the man is worth no more than he was
before he bought the horse. If 800 Is the fair
value Of the animal. He has the horse, but he
owes its full value. When the Government issues
n greenback or a bond. no value has been ere
ated by the transaction. The Government may
exchange them both for gold. but the Govern
mont AZ once becomes indebted for the full
amount Of these obligations.
No doubt It is better to make money than 70
borrow it: but do not forget that the Govern
ment never received a dollar for a single green
hack or for any Government bond without Dor
rowing the full amount thus received. The mo-
mont such a paper obligation leaves the Treas
urv II IS a promise to pay real dollars. and the
propertv Of the Nation is pledged 10 such pay
ment
These Populists are all the time crying out
against mortgages and yet THEY WOULD
PUT A MORTGAGE OF UNTOLD BlLLloNS
upon the entire property existing In this country
Or do these gentlemen think that demand notes
and Government bonds need never pe p'la' !"
listen to- their talk one would think that 'h"y
believe that kind Of money is possible Simply
for purposes Of circulation. and that such circuia-
ton can be obtained for paper money without
any kind OF redemption. have been 'or years
endeavoring TO e; some one 81 them 10 SEM me
a sample Of such wonderful paper money am
anxious to look at 1t. 10 examine 1t. 50 as to
find out what II is Ike.
A FEW THINGS ARE RIGHT.
Why wonder. then. that should have said TO
my ST. Paul audience:
You've got TO meet a new party. A party that
believes tina. everything wrong and that every
thing is stli that thinks that wisdom never
struck the earth until few years ago. when the
first Popust was born
II. D." virtually admits that my claim as to
the belief Of his party IS correct Hear him:
And the new party. he says. believes that every
thing is wrong" Well ism, (, wrong? VIII Mr.
Horr tell us what is right to-day? Now. even the
money lenders not happy. for their securities
are turning into chaf. And II wisdom struck the
earth" before the Peoples Party wac born whefe
did it light
assure this Popuist writer that the world Is
full of things which are right. To name Tor
him all such things would require voumcs To
enumerate the blessings that know about my
self would be to write d book. For example
patriotism is a good thing; 1t is right; patriot
ism IL not dead here in the United States
Honest men and womer abound all over this
nation. Our country Is full OF people who are
striving TO make this "or.d better. II Is Hght
that such should be the case.
The great majority Of the religious people OF
the world sincere. are not hypocrites Ihey
are struggling each day 10 live pure and upright
lives That. too is quite right
Mothers as a rule, still love and care for their
children as tendery and patiently as they
have ever done. 1t is well.
The majority OF our business men are upright
and honest in their dealings. Our country is full
OF men whose word is as good as their BOND.
That rs right.
Most men in this country believe In decency.
In law and order. Crime is not generally ap-
proved OF by the masses; and meanness Is not al
a premium among our people.
The upward tendencies Of civilization are gen.
orally recognized by the sensible men and women
OF the United States. This Is all as II should be.
'If wisdom struck the earth before the Popu-
list party was born. where did 1t striker asks
Ignatius ] answer:
1t has been occasionally lighting through all
| the ages past. Solomon had a touch OF IT, Soc
| rates ard Plato would compare favorably with
| Donnely and Weaver. England. France and
Germany have no doubt had sprinkling OF
| wise men during the last thousand years. In
| deed. wisdom at times may have taken up her
! abode even in this Republic OF ours. This Ma
ton need not despair. l recall with little effort
WnshinRfNn. Eranklln. HamlliOn.