The Goodland republic., 1894-05-25

| GI16 4uCE0dS0 O1 pOpu1dCIOn dhO JIG
growth of business, but, on the con-
trary, it should be capable of adjust
ment to these conditions.
! Our country is comparatively new
one, with population increasing rapid
| ly, by immigration as well as by natural
increase; and rapidly increasing wealth
| by the development of vast natural re-
sources. Shall our vast interests be
crippled by meagre medium of ex-
change? The natural basis for a me-
dunn of exchange is population and
wealth, and not diamonds, rubies, gold
or silver Population with wealth in
it's various forms, is the source of need
of a medium of exchange, and should
be the basis of supply. Considering
the vast material wealth of this coun-
the amount required for the best re-
suits. The evils of insufficient and
improperly distributed circulating me-
dium have been seen during the past
nine months in the shape of idle hands
and silent industries
Gold has arbitrarily been chosen as
a money metal on account of it's scar
city and the difficulty of getting it. 1t
has very little intrinsic value above
other metals; its use as money is the
chief thing that gives it value; take
that away and it will decrease in value,
as much if not more, than silver has,
by limiting its use as money. The sup
ply of gold does not increase with the
growth of population and the increase
of other forms of wealth; therefore, it
is not a rational medium or basis of ex-
change of wealth between man and
man. Population is the natural basis
of medium of exchange, the amount
issued per capita bearing reasonable
relation to the total wealth of the com
munity or nation.
One of our greatest needs as a remedy
for the present depression, and as
basis for future prosperity, is a paper
money issued directly by the govern
ment, not based upon any metal, and
not a promise upon the part of the gov
ernment to pay, but, instead, promise
to receive, as taxes, revenue, customs
and all other obligations to the govern
ment, and legal tender for all obliga-
tions, public and private. OF course,
sufficient guards as to quantity would
be necessary. That could be limited
amount per capita, the total amount
increasing according to the showing of
the census every 10 years. Also a GER
tain amount extra each year, to make
up for reasonable contraction caused
by accidental destruction, as by fire,
etc.; the entire amount to be kept in
constant circulation by being immedi-
ately reissSed as soon as received by
the government. Let the present coin
circulation remain just as it is, to take
care of itself according to natural laws
The fact is, the metals would find their
natural places in the arts
Perhaps the first objection would be
that horrible word "infation." Well,
we have had so much contraction that
relief from it, called by whatever name,
would be welcome. But the Initiation
need not be sudden. It could be ex-
tended over a period of years.
For example, let US see what an issue
of s5,O0O,O0O per month of the above
mentioned currency would produce.
This would make s6o,000,O00 per year
less than dollar per capita; requiring
more than 80 years to reach the 500 per
capita on the present population; and
by that time the population would have
so increased that the amount per capita
would be much less; and also the acci-
dental destruction, as by fire, etc,
would be very great in 50 years. So
while S5,OOOOO0 per month would be
very inadequate. still it would be be
ginning, and allow plenty of time to
test the system. Twenty-Five millions
per month would be much better; and
this would require between u and 10
years to reach s50.percapita.
The contest between gold and silver
can only be settled by dropping both,
and recognizing the wealth and integ-
rity of the nation as basis for our cir
sculating medium, the quantity being
governed by population.
We are sometimes told that we are a
debtor nation, and cannot do as we
could if we were not. We are not help
ing matters by issuing more interest
bearing bonds.
If the phrase "the wealth and the in
tegrity of the nation as basis seems
indefinite and intangible to any one,
just think of the wealth in the form of
real estate, buildings, public lands,
ships, valuable franchises. ETC., nov
owned by the government But these
viii never be required to redeem the
currency above described, for the peo-
pie viii always need it, and this cur
rency itself viii become a source of
wealth to the nation and an aid to the
creation OF wealth by the people. just