The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1894-10-15
change gold for them. they would all be at


volume in circulation. on the amount OF real
money possessed BY the redeeming agency.
The smaller the amount OF real money on
hand to exchange for token money the less
token money must be in circulation, for II
the amount OF token money in circulation
should reach a point where the redeeming
agency would not have enough real money
to exchange on demand, the token money
would instantly go TO discount. THIS
prir ciple Is what has made money matters
so tight for so long time. The real money,
gold, has been flowing out or the country
The redeeming agency, recognizing TINS
principle, in order 10 keep the token money
on a parity with gold and prevent 1t from
going to a discount began at once TO reduce
the amount in circulation. and money be-
gan to become scarce and grow more so as
the stock of real money grew less. AS the
amount OF real money is now
less than at any previous time.
circulation IS less. 1t was this
principle which forced the repeal of the pur-
chasing clause OF IRE Sherman act and
compelled cleveland TO veto the act directing
the coinage OF the seieniorase. This same
principle finds Illustration IN every bank OF
deposit. They understand by law which
is almost absolute in It's certainty that a
certain per cent of the amount on deposit
must be kept on hand to enable ii To meet
the checks which will be drawn daily By
its ueOCSlfOrS. NO DdnlN Keeps IL Qii luz IL
it did il could make no interest. and there
fore no dividends. But knowing, according
to the operation of this law. only q certain
per cent will be checked out daily, il goes
on using the money OF it's depositors with
absolute confidence. with so much casn as
O. reserve 1t will always have money
enough en- hand to pay all checks present
ed. Let II fail to respond ana the bank must
close its doors. for every depositor now
n LIE, Mt Il
en- money in circulation and on parity
with gold Is regulated by similar law.
The redeeming agency, like the banker,
knows Just how much real money VIII De
demanded daily in exchange for token
money, and the per cent of real money must
be on hand. If the amount of token money
reaches a point where the amount OF real
money on hand is not sufficient to meet the
demand, every holder Of token money VIII
want to exchange all his token money for
real money which cannot be done. and the
result is the redeeming agency closes doors.
bankruptcy follows and all token mon
ey goes to a discount. Therefore the money
power fights every effort made ~ the peo-
pie TO increase this token money and viii
continue TO do so.
Now if token money is TO be kept in cir
cuiation on a parity with gold this
Law cannot be ignored. The volume of
token money cannot be increased, at least
beyond the limits fixed by that law. Those
who insist on increasing the amount or
token money by increasing the issue Of
greenbacks. treasury notes and the Tree
coinage of silver must GOt Insist on keep
ing them on a parity with gold. The thing
is impossible. To increase the volume OF
token money without providing for an in
crease OF real money, and expect 70 Keep
both in circula tion on a parity. every
body ought TO know cannot be done. The
token money viii not always he redeemed,
2ri failing 20 redeem il, tae parity
will not he maintained, and all token money
Will go to discount.
Therefore. the people must either consent
TO give up free coinage and more money, or
give up parity. They cannot have both.
There IL today as much token money in cir
cula ton as can he put IN circulation, II
parity is to be preserved. This Will always
be the case. for II IS TO the interest OF the
money power TO keep the token money up 20
the limit, FOR il is token money which pro-
dr"es the profits-and 1t costs nothing.
But suppose II were possible 10 increase
the volume OF token money indefinitely and
preserve the parity between il and gold. how
would il help the people? Would not cot,
dfee!nit3 Sc ner busheI The whole trouble IS gold
is too valuable, and 50 long as it, present
veiue continues all prices will remain SUCH
that what the people cell will not pay
the cost of production The only hing that
the people can do, and the only way relief
c5n he had. is 70 reduce the value Of the
money. This will raise The price Of every
product and multiply the volume Of money
in circulate To do this it il necessary
h give M parity. Enact free and unlimited
coinage Of silver at t6 20 l; let silver money
take care OF itself and become real money.
Redeem every obligation of the government
In silver, where il has no. pledged its
faith "a redeem ii in gold; make il a legal
tender for ali debts, publi. and private.
where il is not stipulated hy the contract
to be paid in gold. The result will he sil-
vcr will so to discount, sreenhacks,
treasury notes and national bank currency
will do likewise, ana parity will exist 10
longer. Cold viii cease 70 circulate as
money. Increase the token money until
the vacuum made by the disappearance Of
gold il filled. OF course. every product VIII
increase ia price - the same extern as
the discount money suffers. and the volume
in circulation viii increase as The price Of
things goes up. New life will he infused
into the people; their sleeping energies will
he awakened. AID renewed activity viii
seize every industry The use Of silver as
real money by The United States. which Is
almost one-half of the commercial world.
viii greatly increase the demand for If as
money. being he sole measure Of values
in this country, and It will increase in
value. The use OF gold, as money in this
country. will cease to a large extent, the
supply of gold in The Other half 0t the COM
nercial world will be largely auGmenjcd;
It's value viii decrease. Thus -he same
law operating on the two metals in o2-
posite directions. increasing the value Of
the one and lessering the value Of the
other. Will finally bring taem together in
value, ana parity assert is-ele = the ratio
Of Ii to I. Both Will again become the real
money of the world the supply Of real
money being thus doubled its value will
fan to one-half what il is now, and every
product viii double in price: money in cir
cuation will become abundant. "ienty wi!i
fill tne land; the people. triumphant once
more. will prosper, and peace and happi-
ness will bless them all over The world.
DEMOCRAT.
Rosy cheeks, bright eyes lightsorne foot
steps are insured b. food cooked With DIR.
Prices Cream Baking Powder.
Come On. aIactiaH.