West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1895-10-17
SILVER THREADS AMONG THE
GOLD"
Money and other Things.
By AAnox w. FaEpEmc,

MIR. Horr's answer to Mr.. Harvey's
request to finish mp on the subject
OF characterization before taking MP
another subject. Demonetiz ,tion (!
That old hole is where the skunk
is Mr.. Horr don't want his net
dragged out. Whew
wish IN this article to speak of
Constitutional money. "The Con.
gress shall have power to coin
money, regulate the value thereof.
and of foreign coins" ono state
shall coin money; emit bills of
credit, make anything but gold and
silver coin n tender in payment of
debts" Such is the language of
the Constitution, the supreme law
Of money in the United States.
Guided by the Constitution the
fathers of the republic coined both
metals freely. The silver dollar
was made the unit Of value, and IN
regulating the value of the two
metals the amount OF gold IN the
gold standard was twice changed
while the quantity OF silver in the
unit dollar never was changed. The
value of gold coin was measured by
the unit silver dollar. Such was
the understanding of the statesmen
who framed and enforced the or
ganic law of the Union In earlier
days.
/ The Supreme Court, increased to
one Chief Justice and eight Asso.
ciate Justices, have declared the
"greenback" legal coin within the
meaning OF the Constitution. The
greenback was left legal tender
for all debts except interest on
the public debt and. duties upon
imports. The convenient greenback
currency was the debt Of the United
States. 1t was the debt in a form
that cost no interest. But that debt
was funded, that is, the green back
bearing no interest was merged IN
q bond that bore interest. Upon
the bonds was reared the super
structure of the so called National
Banking System system that
hoodooed dollar in gold into three
or four dollars, in many instances,
In bonds and national bank notes
a glorious imitation for the banker
IA wretched imitation for the toiler.
For the legal tender grecnb back
these bills of the national banks
were substituted. These bills are
not constitutional money. They
are not legal tender for private
debts, for wages, or for merchan-
disc; only legal between the Gov
ernment and the people, and the
Government and the banks. This
rag money, unknown to the Con-
stitution, is dear currency to the
people. Pardon me for calling such
stuff money. 1t costs two interests
one on the bond on which it is
based and the interest the borrower
pays who gets it out of the bank to
put it in circulation. On this tat
tered thing there are two interests
growing night and day. They have
outgrown the crops of the country.
They are part Of the laudable
"sound money" of this nation
The system is unAmerican, unpa-
triotic. / wonder how any man can
profess to be Christian and run
such marauding piece Of machin-
cry, robbIng labor and elevating
one class at the cost of degradation
to Others. Yet it is only the sys.
tenn / abhor and would erase from
the great black board OF human in
fanny. know few bankers whom
/ esteem; but why don't they repent
Of their sins? A saloon is an insti-
tuition that every good citizen, fig
uratiyely speaking, ought to fire
with torches of righteous indigna-
ton, and il the saloon man STAYS
with it, let him get scorched say.
though ! do not personally assail
the man, only the system. / have
seen few saloon men good enough
TO like.
The greenback cost no interest;
it was the peoples cheap money:
/ tho bank bill costs two interests
and is the ragged rObber OF the
hands that create wealth. Silver
was primary money, cheap money,
cost no interest. served no aristoc-
racy It was the peoples money.
IL was in the way OF the national
banking system. Every silver dol
lar IN circulation stood in the way
Of the loaning out Of the double
interest-drawing bank note. Silver
was stricken down. Many Congress.
men either did not understand the
trick or we're ashamed TO confess 1t.
However, greenblck and silver dol
lars we're retired and debased, the
| ilimsy paper promise TO pay WAS ex-
alted. IL is not legal tender, but
II draws interest all the same from
an outraged and impoverished peo-
pie. Money was cornered. TIE note
promising TO pay brought interest
70 the maker, the banker. Thus
the banker lives on the interest Of
what he promises 10 pay to other
people. Grandest system Of finance
IN the world
Yes, silver has been domonotizod.
Property has been demonetized pro
] fe.s L.. A a.