The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-12-26
IRE VIEWS OF r. II. LINDSAY.
He Thinks the Government. and Not the
Banks, Should Issue Money.

and oz foreign cssr'' Art j. Sec. s
Par. :. constitution OF the United States
Paragraph OF the same section aids,
ITO provide for the punishment OK coua-
serfeissng the securities and current coin
az the United States Section 10 OK the
same article declares that 10 state shall
enter into any treaty. alliance or fedora
ton. granting letters CT rsa-cue and re-
prisaI: coin money. emit bills OF credit or
make any thing bat gold and silver coin
a tender In payment OF debts; pass any
bill OF aatasnder, ex post facto law o.
law irnpalriug the obligation OF contracts;
or granting any title CT nobility.
As,tacrygrg 10 the modern construction
placed upon these provisions Of our high
est law. BY the controlling elements o.
ssotf, old parties, it restraints the author
isy Of the states, but not tie power and
authority OF the hanks and money man
ipulators
II IS plain to be seen that the master
rlisfs who framed our constitution rec
osaized the fact that 1t was all Important
to the welfare of the nation that the gov
eminent alone should control the spusi-
ness OF manufacturing money. MONEY -
the life blood Of any commercial natioh'
and to put the power OF controlling ITS
volume or, beg pardon. the modern phrase
is .'its elasticity" in the hands OF any
artificial or actual person IS TO make tne
people of the nation subservient 10 the
will and benest of those persons just III
proportion to the extent that they choose
to exercise their delegated powers. the
repeal of the purchasing clause OF the
Sherman law was the final act OF the
scheme TO override the constitution and
place monopoly of the issue of money
in the hands Of private individuals. Sir
Yer hes been gotten rid of: and the next
stage of the scheme is entered upon. The
curtain has fa7'en upon the Sherman law.
and now IL rises and presents TO the
American public the opening scene In the
second act Of the great drama, and we
behold, side by side the Baltimore Plan"
and the Carlisle Plan" both aiming at
the same result--placing the regulation of
the. value of money IN the hands OF pri-
vate individuals.
I say, placing the regulation of the
value of money" etc, advisediy, for
whoever controls the volume of our cur
rency eoatrois its value--its purchasing
power. In the same way, then, is the
price of products and the wages of labor
controlled. The trainers of the constitu-
ton knew what they were saying and
doing when they wrote: Congress shall
have the power To coin money and reg
alate the value thereof" No authority
has ever been given by the people to con-
gress to delegate that power to individu-
ais. BY well known rules of construc-
ton the power is exclusive and il rests
in congress alone. 1t Is simply suicidal
for the nation to abate one jot or little
from the Letter or spirit of the provisions
of the constitution above quoted. We are
told by some of the advocates of the BAL
timore plan that the currency of the
country should be based on the wealth of
the nation.
Well. the Populists have been preaching
that d1srine for some years. and it GER
tainly is sound finance. For my part /
am not prepared to say but that the
Baltimore plan" advocates have per-
haps the better of the argument from
the present condition of affairs. After
twenty-five years experience with "the
best banking system the world ever Saw.'
rhe advocates OF the Baltimore plan
find themselves possessed of all the
wealth of the nation, either as actual
owners or as mortgages, and when they
ask that the currency of the nation be
logically that is basing 1t on the wealth
OF TIE nation. These remarks apply with
equal force TO the Carlisle plan" The
truth is they are neither OF them in con-
for.nity With the latter or spirit of the
constitution, but the Baltimore plan.
with it's powers vested in the government
instead of in individuals. would be pFessy
nearly an sicai Populist' one. 1t looks
to. frx-ty
to steal the Populisi thunder and WELD
its holts in their own behalf and excisl-
sively for their own benefit.
DO not think It out OF place to here
call attention, in view OF current events,
TO some remarks made by Senator John
p JONES, during the debate on the repeal
OF the Sherman law. Let me quote:
hen silver Is out of the way they
uhe banks) viii aeauiesee in the views
OF the producers of the country that more
money is necessary. and will demand an
Issue of several hundred million dollars
OF bonds In order that the country may
he enabled 10 have sufficient volume of
money to do its business and maintain
some degree of prosperity. They hope
ana expect taas by the time they are
ready to push this demand the distress
OF the country will be so great that their
wishes will be complied with. Distress
will continue until relief be brought by
a sufficient supply OF money-not. how
ever. bank money. but legal tender
money. IL is useless To hope for pergra-
rent improvement of !Sdustrial conditions
useless TO expect that the great masses
OF idle men will find permanent employ
ulent-until a volume OF money shall
be issued sufficient TO arrest the per-
nieious fail az priees. and give 10 en-
ployers Of labor and projectors OF great
enterprises the &easoaaste assurance
by employing workhnen they win rot be
losing money, This new money can not
be geld. We already have our distrihu-
if We temporarily get more we cannot
keep IL. Silver must. therefore. he re-
monetixed. unless We are 10 resort alto
gesher to paper money"
Can IL ha possible. I ask. that these
silver cranks' are endowed with Inc
spirit Of lerapheCyE
A day or fwc ago the press d.zpa tchss
| informed US thst sir. Bland, or Missouri
intended - move - strike cut all after
/ the caaesgng clause In the Carlisle bill
Row before Sse house OF representatives
| aaes substitute sneasgre he has pee
| pared for currency system basel on
| coin ard coin notes, Prem she outlines
/ of Mr. Rlan3s plan published on the
/ 1aea inst. "a the Post-IatelIlgeacer /. as
| ere os the silver wing Of sss Peoples
| parry. commend & as aeSng a huge stride
| in tire right aireefian. II viii gsve Us