St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-30

the pound" thnn the bushel basket is
the .'bushel."
Let US quote some opinions that should
merit consideration:
"Whcn it was once unders TODD that
gold and silver are not wealth, nut only
representatives of wealth and that
money is of no value To nation, except
SO circulate its riches. all the old motions
of the supreme Importance of the pre-
Buckeyes History of Civilization.
Money is value created by law."-
Cernuschi. A
/ '..fhen, too, IwOuld change the form
of those notes, SO that instead of being
technically, or in form, a promise, they
should have stamped upon them the
denomination, as gold and silver have
being to all intents and purposes money,
and not promise to pay in something
of no greater legal value" = Senator
Wright, also an ex-Supreme Judge.
"A legal tender function is better
basis for money than specie basis. y
Benjamin Franklin.
'Goid and silver are not intrinsic
cally as valuable as iron. "-Benjamin
Franklin.
There is plenty of evidence to prove
that an inconyertIble legal tender paper.
If limited i'll quantity, can retain its full
value; but there is abundance of eyi-
dence to prove that gold has under
gone extensive changes. From 1909 to
1919 it rose in value 145 per cent?
Prof. Jevons, Of Owens University,
England.
Gold and silver, constantly varying
in their own value. can never be made a
measure of the value of other things"
Adam Smith.
II find that gold fuctuated so per
cent during single year of the late war,
while the greatest fiuctuation of the
greenbacks i'll any one year, as meas
ured by the same standard. was only 81
per cent" Hon. Amasa Walker.
The theory of intrinsic value of
money has been abandoned by the best
writer's and thinkers. Coin is hot a safe
basis for money; the base is too small. !"
Encyclopedia Britannica.
"A shrinkage in the volume of cur
rency has caused more misery than war;
famine and pestilence, aud more mi U.S.
tice than all the other bad laws ever
enacted. ~. s. Monetary Commission.
"The entire amount Of coin in the
+! country. Including that in private hands
as we'll as that in banking institutions,
was insufficie mt to supply the needs OF
the goverhme Mt for three months, had
| it been poured into the treasury" For
| eigr credit we had none."-United
States Supreme Court Decision, u Wal
lace. page $40. [Speaking OF the war
| period.
II wish all money Of the nationI
whether gold. silver, copper or paper,
was issued by the government, and
based, hot on the coin or other money,
, but upon the credit and resources OF
the country" -Audrew jackson.
mo one can doubt but that the credit
of the government is better than that of
| any bank-more stable and safe. l now
undertake to affirm. and without the
least fear that can be answered, that
paper money issued by the government
with the simple promise of the govern
ment to receive 1t for all dues would
form perfect circulation which would
not be abused by the. government
John G. Calhoun.
LET us found q government where
there shall be no extremely rich men
and no abjectly poor ones. Let us
found government upon the Intelli-
gence OF the people and the equitable
distribution OF property. Let US make
laws where there shall be no govern
ment partnership with favored classes
Thomas Jefferson.
my agency in procuring the passage
: Of the national bank act was the
| greatest financial mistake of nv life, II
has built up monopoly that affects
| every interest In the country. II should
be repealed. But before this can be
accomplished the people will be arrayed
on one side and the banks Oh the other
In q contest such as we have never Seen
In . tbs eHod ~ !; F. Chase.