The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1894-08-16
What Free Coinage Would Do
for the People.
We SHOULD HAVE $l00 PER CAPITA
Congress, Instead OF Wasting It's
Time Tinlxerlng with the Tariff,
should COIN Money-It Should
Undo Some OF the Many
Wrongs Heaped Upon the
People During the
Past Forty Years.

The first duty Of any civil government il
toestablish asystem of taxation, by which
to provide sufficient revenue to defray its
necessary expenses. Instead of congress
having exercised the power delegated to
it ny the people of the United States
ito CON money, and regulate the value
thereof, and of foreign coins" it has
closed the mints of the United States
against the free and unlimited coinage o
silver bullion, one of the chief products
of the United States, and thereby depre
eating it's marketprice per ounce, greatly
to the advantage of Great Britain and
foreign governments.
1t has, moreover, usurped the power OF
creating banks of issue, to control the
volume Of money, and thereby control to
great extent, the business and politics
OF our country, and has burdened the
people with unnecessary taxation. IT
has also not only failed to regulate the
value of foreign coins, but has for many
years past, forbidden such coins to pass
as money in the United States, greatly tc
the injury Of commerce. .=m... .
AS coming bullion does not make the
coin money and as nothing can do SO
but making them leagal tenders in the
payment Of public and private debts. de-
mands and dues, we perceive that the
power has been delegated to congress to
make legal tender act; and as the
power has also been delegated to congress
to regulate the value of money, or of legal
tenders, it is the duty of congress To
make all money full or legal tenders.
In order to relieve the wealth produ-
GERS of the United States from the evil Of
fects of the contraction Of $136O00,O 900 in
SO days, in May, June and July, 1893,
congress should have defeated this con-
spiracy by suspending taxation, for the
time being, and should have issued $780,
100000 of full legal tender Uuited States
notes, and with them should have paid
the current expenses of the federal gov-
ernment.
Instead OF pursuing this financial
policy congress Internationally repealed
the act of 1890, which required 100000
ounces of silver bullion to be purchased
monthly, with full legal tender United
States notes, as good as gold, as money,
which increased the circulating medium
at the rate Of $3O0O00O per month. This
silver bullion cost less than one cent an
ounce. It now lies idle in the treasury.
because the contraction conspirators who
wish to keep money out of the hands Of
the people, controlled the president of
the United States and forced him to veto
an act of congress requiring that idle
silver bullion be coined.
Congress, instead of turning attention
to the question OF money and it's volume
has wasted its time in tinkering with
tariff taxation Experience has taught
us that no tariff, either high or low, can
make the industries active and pros
porous. The money panic and crash of
1873 took place under very high tariff.
and 40 decrease of tariff taxation can
revive the industries, much less make
them active and prosperous. Nothing
but an increase of the volume of money
can revive the Industries and make them
active aad prosperous
Sixty-seven millions of people scattered
over very widely extended country, re-
qnlre 500 per capita. This volume of
money would re- establish the cash system
of business. It would enable the buying
and selling to be done with cash, which
would save the wealth prduciug capitalists
over 81 l,0Oo,000,00o per year, paid to the
bankers for discounting the commercial
paper, with which business is done, under
the forced credit system of business,
Under the cash system of busiess the
wealth producing capitalists would be out
Of debt and out of danger.
They and their employees, the wage
worker, would be enabled to retain fair
proportion of wealth more rapidly than
The professional money lenders. The
cash system Of business would in few
years create a greater equality of wealth
III the United States, which alone will en-
able government of the people to be
perpetuated. Under the free and unlim-
tied coinage of the precious metals, at
our present ratio, and the cash system Of
business, would soon enable the people of
the United States to pay their foreig n in
debtedness and make them lenders rath-
er than borrowers Of money. National
View.