Capital journal. (Salem, Or.) 1893-1895, 1895-10-14
Ex.aov. Bo1Es OF IOWA.
Continued from second page.

country to supply itself with standald
money, II should have cut In twain the
quantity Of gold required to make q
dollar?
Was this done? Not at all. But
congress left the gold dollar Just az
srRe aud Just as fine as IL was when
,llver stood by it's side and bore one
half the burden of supplying the nation
with real money.
Is II ell very strange, thee that
under our present system the prices Of
the products Of labor have decreased
when measured by this siigle standard
Of gold; Is there any reason to believe II
that measure is coutloued they will
ever permanently increase?
We need not look beyond the condl-
ton Of our own treasury at the present
time to learn something of the Intensity
of the struggle for the possession Of
gold that is now going on.
Is 1t possible 10 contemplate withou
humiliation the fact that this g-eat
nation has been compelled to turn Its
financial system over to a syndicate Of
bankers, composed Of halfdoz IN men,
Ia order to maintain the credit Ct its
currency la the money market of the
world?
Aud what Is the relief for this cond.-
ton, that the advocates Of gold stand
ard propose
They say, retire the treasury notes
and silver certificates that any one can
gath up under existlng law or Gus
tom and take to the treasury and de-
mand gold in exchange for, and then
there will be no need of reserve u
meet that demand.
This is true but II we retire these
forms Of currency, some other must
take their place. We havenone too much
money now. II the government goes
out OF the banking business by with
drawing its own notes and certificates
Il ON circulation, some Que else mus
90 into that business, and must issu'
notes to an equal amount, and ever.
one OF these notes must be made re
deemable In gold under single golC
standard, and the banks issuing then
instead OF the government must keel
on hand the gold necessary for thel
redemption.
Would this diminish the demand 70
gold? Would our own or any othe
people have greater confidence In pri
vate banking associations and be salts
fed to take their bills with a less gol'
reserve behind them than is require,
TO maintain the credit Of our treasur,
notes, that have behind them tn
pledge of the whole nation that the.
shall be redeemed with coin?
Is 1t not altogether probable that an.
system Of private banking that coul'
be devised to take place Of the govern
ment In the issue Of paper currency
redeemable In gold, would increas
instead of diminish the demand for II
and hence increase its purchasin
power and thereby still further diniin
ish the price Of everything of whic
money is the measure of value.
Under such a system the banks, In
stead Of the treasury officials, would b
hunting for gold to deposit in thel
safes, and they would need more IN
stead of less to maintain the credit Q
their bills so that the demand at hom
would not be diminished and ceItainl.
no change in this respect could lessel
the foreign demand.
In what way, then, is 1t possible
lessen the present inflated purchasln
power of money. and thereby increas
the selling price of the products c
labor
Evidently there is but..one way, an
that IL 10 increase the quantity OF res
money, and this is practicable In
single way, and that is by return
the system of our fathersi to the none
Of the constitution; to the coinage
both gold and silver as standard none