The representative., 1894-02-21

government can by any possibility is
sue and maintain truly honest dol
lar unless it controls the material
of which it is made and its manufac-
ture and issue absolutely, so that it
can keep an adequate amount of
such dollars at all times.
Should there ever be any marked
decrease in the volume Of such dol
lars in circulation their value would
be greatly increased.
Should the circulating medium of
exchange be greatly increased the
value of the dollar would become too
cheap. Hence It follows that the
amount of money in actual circula-
tiOn in any country measures the
value Of the average price paid for
any commodity bought or sold in the
country
Increase the currency, business be-
comes active, and the people are hap
py and contented. Shrink the vol
ume of currency by any means, and
business declines, and panic, bank
ruptcy, idleness and starvation is the
result; this law is so we'll known to all
political economists, that it is set
down as an driOna.
A government has no gold mines,
and the supply of gold is very limit
ed, it must be evident that the only
means it has to increase the supply
of gold coin, to hold as reserve in
it's treasury to redeem it's obligati tions,
under our present system, is to 60
into the open market and buy it by
the issue and sale of gold bonds bear
ing interest payable in gold.
Thus gold is put upon the auction
block by the money power which con-
trolls it, and sold in any part of the
world to the highest for bidder
gilt-edged security, the highest
interest, for it's bullion value is al
ways regulated by it's money value.
No nationis justified in the adop-
tion of any metal upon which to put
it's stamp as the only money of ulti-
mate redemption, which it cannot
control.
Since 1878, when silver was de-
monetized, the value of the gold dollar
has advanced in purchasing power at
least 40 per cent.
No honest man would claim that a
dollar which exacts from labor and
the debt paying classes from l to 3
per cent per annum from year to
year exclusive of the interest agreed
upon is AN HONEST DOLLAR; yet this
is what our gold standard dollar is
doing and has been doing since 1873,
and all values have shrunk except
gold and debts, which have increased
in value from year to year as gold
has advanced in puchasing power.
When we have truly honest dol
lar it will be made Of paper and ex-
changeable for coin at the option of
the government; it will be MONEY
and will never require redeemer;
no promise to pay on demand: but
promise to receive it by the govern
ment in payment of all debts, public
or private, shall be spread upon it's
face. This dollar the government
can issue upon the broadest possible
basis, in fact the entire wealth of the
nation can be put under it with it's
immense tax-paying ability. Every
dollar issued upon the best security
possible in the country and in sufi-
cient volumes to meet the require
ments of exchange.
The value of such a dollar could
easily be regulated and controlled by
the government, and when once es-
tablished it would be HONEST MONEY
in every part of the union.
Under our present financial system
with our eight,-I consider gold certi-
fcates as gold coin,-different kinds
of moneyin circulation, we can never
have an honest dollar. We have
seven kinds of money for the masses
and one kind of money for the
classes; and this one kind, gold
coin to regulate the value Of the
seven kinds; and in fact the value of
everything is in the hands of unprin
cipled and heartless men, whom the
government have permitted to usurp
it's true function to regulate and con-
troll our medium Of exchange.
Not until the government assumes
it's true function and withdraws
from corporate power the control of
our financial system by the establish
ment of an honest, constitutional dollar,
which can be use to pay any debt, pub
lie or private due or demand, can we
hope to see an honest dollar.
| The free cninapa of gold and silver