The Prince George's enquirer and southern Maryland advertiser. (Upper Marlborough, Md.) 1882-1925, 1895-07-19
WHAT Is HONEST MONEYS
An excellent eeries OF articles

An excellent ceries OF articles on
''Money, Banking, and Currency"
have been running through Harper'a
Weekly. They were written by the
editor, Mr.. Henry L. Nelson. Mr..
Nelson summarizes, in his concluding
article, on June 18th, the results OF
his unusually careful and critical in
vestigation. The following is part
Of his summary:
elm conclusion, will restate some
of the propositions that l have laid
down and endeavored to sustain in
these papers. Ibegan with tie propo-
sition that money is not good in itself,
but only as it easily and conveniently
procures for its possessors what they
need or desire. 1t saves the trouble
and expense of barter. 1t represents
food, raiment, shelter, and other
neces.aries of life as we'll as its luxu-
ries.
'sThe quality that money should
possess ought to be clear tc every one.
It must be honest money. II it il
metal it must be intrinsically worth
the sum it processes. If it is paper it
must be .edeemable in the amount
called for by its face. 1t must mean
what it says. 1t must not only &C.
tually possess these qualities, but
those who are asked to accept it in re-
TURN for their products and goods must
believe that it does. In the simple
community the store-keeper's orders
possessed these qualities, and they
passed as money. So bank paper
passes in the country in which the
bank is situated, whose people believe
that the bank is sound. But in inter-
national commerce gold is the only
money that is universally recognized,
md it is necessary, therefore, for this
country, and for all countries that
larry on commerce, to accept gold -
The standard of value. Otherwise
here must be confusion arising. from
fluctuations in exchange, which would
% largely due to fluctuations IN the
price of any other metal than gold
that became the standard OF value OF
The country departing from the gold
standard.
"Whatever may be said in favor Of
International bimetallism, interna-
iional bimetallism is not an imminent
question. The first question that this
country must answer is whether it
will abandon the monetary system
which prevails among the stronger
Nations of the world, and adopt that
which prevails among the weaker Ma
ions, whether il will abandon gold
md take silver as its standard. It has
oeen proved that it cannot alone main
lain silver. The panic of 1898 demon
,trated this to intelligent minds. It
las also been proved that it cannot
.lone maintain the price of silver
which has been falling for nearly
thirty years. The failure of the At
.empts to do so through the acts OF
1878 and 1890 is o signal proof OF the
inability of this country, acting alone,
10 make sixteen ounces of silver equal
10 one ounce of gold, when in the
markets of the world thirty-four
ounces of silver are equal in value to
,ne ounce of gold. The only ground
IN which the single silver standard
,ould be maintained is that we act IN
lependently of Europe; but to say
that our commercial life could be
maintained in vigorous health with
my other than the worlds monetary
standard is like sayin gthat our phys
lcal and material we'll being could
De preserved if we could and did shut
,ut the benefcent light and heat OF
The sun. international commerce is
part of our existence. We cannot live
without it, as our farmer, who is our
principal exporter, ought to know. II
We should try, to, he aud the man who
ives by his Pc .sonal services would
be the first to discover what it means
10 be in the hands of the money
broker, as they found out before when
We paid for our greenback debaueh.
Ind in 1898 when Europe began 70
1ouhf our infaptiops aS tn silver"