The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-04-25
FIAT MONEY.

FIAT MONEY.
A Woman Who Convincingly Answers the
Folderol Of q Goldbug Sister.
I observe that Ellen Battelle Dietrich
has much to say of the ''poor fools who,
ignorantly imagining that mere legisla-
tive fat can make paper or silver money
Of fixed value in relation to gold, con-
tinue to forcibly thrust their crude the
cries into the delicate mechanism natu-
rally evolved by social needs and social
snergy," and that the result will be
confusion COMPOUNDED I cannot COM
prehend the force of her application
am curious to know by what rule
or relation the fixed value of gold'' is
established and how measured. Is it
natural money? Which came into the
world first, law (fat) or money? Is not
money originated under the mutual con-
sent Of the governed? Is it not then q
government power or function and con-
sequently fat?
Is not value extrinsic, dependent on
outside influence desire to own and the
limitation of the article? Are not dimen-
sion and weight intrinsic, necessary to
existence? Are the measures of dimen-
sion and weight, like the measure Of val
ne (gold\ subject to f1uctuation? Is then
q comparison Of them fair one? Can
a tailor or a butcher get corner" on
the yardstick or pound weight, as the
gold miners or owners do on gold2
TO make a comparison approximate
fairness, would it not be necessary to
use some single, costly and scarce met
al, "most largely agreed upon by man
kind for thousands of years., upon
which to coin or stamp the measures of
dimension and weight? IF our soldiers,
like our gold, had deserted our flag in
our late unpleasantness, what would
have become Of our country? If "mere
legislative fat" stamped on paper stands
up for the country in war or desperate
emergencies, while "mere legislative
fat" stamped on gold under like condi-
tions always proves a cowardly deserter,
is it not natural for the "poor fools" to
reverence the one that saved them?
Suppose you were on the verge of
drowning, and "poor fool" ready for
any emergency and gentleman were
standing on the bank. The former, at
the risk of life, plunges into the water
and saves you from perishing, while the
latter sneaks away and hides, saying,
"1-l-never was introduced, but will
take the risk at 1876 per cent. - After all
is over, to whom would your sympathies
naturally turn?
Then do not condemn the "poor
fools' for loving their reenbacks-
"mere legislative fiat'' on paper. LEG
islative fat on paper belongs to the
many who do their own fighting, and on
gold belongs to the few who fight by
proxy.
A money that has proved a failure
since the days of the pharaohs has been
on trial quite long enough and ought to
be put down. Are not the gold miners
or owners the parties who are doing the
tinkering with the dollars? Does not the
reading of the following secret circular
issued by the Bankers association, un-
der date of March 10, 1898, so indicate?
Is not the origin of the present panic
explained thereby? The circular reads:
DEAR S1R-The interests of national
banks require immediate legislation by
congress. Silver, silver certificates and
treasury notes must be retired and the
national bank notes upon gold basis
made the only money. This will require
the authorization of from $500, 900, 900
to 81, 900, 600, 900 of new bonds (the why
of the Wilson billy as basis of circula-
ton. You will at once retire one-third
Of your circulation and call in one-half
Of your loans. Be careful to make
money stringency felt among your pa
irons, especially among influential men.
Advocate an extra session Of congress for
the repeal Of the purchase clause of the
Sherman law and act with the other
banks Of your city in securing a large
petition to congress for its unconditional
repeal per accompanying form. Use per-
sonal influence with congressman and
particularly let your wishes be known
to your senators. The future life of the
national bank as fixed and safe invest
ments depends upon immediate action,
as there is an increasing sentiment in
favor Of government legal tender notes
and silver coinage"
Does it not seem from this circular
that the ''few here and there who profit
by their own experience and observa-
ton" seek to turn their knowledge to
their own profit and ACKNOWLEDGEMENT
through 'mere legislative fat?'' Is it
not clear that the gold standard teach
ers are depending upon "mere legisla-
tive fiat" for bonds-more coupons for
the rich and more taxes for the workers.
or ''poor fools?''
Will Miss Dietrich please study the
plan suggested in this circular to secure
the coveted legislative fat on paper,
then give the "poor fools" a rule or
measure in the "dismal SCIENCE by
which they may determine the full
amount of pure "cussedness'' involved
in the scheme. -Bettie Shaw in New
York Advertiser.
Peoples Party Clubs.
During General Fields late visit to
No rxtr,, e. moo 1.oco1ro<3 %r r.ooyrpov,