The midland journal. (Rising Sun, Md.) 1885-1947, 1895-01-18
A Scientific Financial System.

While wages and prices are higher here
than in Europe the money metals and
coin will leave this country and go to the
countries of lower prices. This result is
as inevitable as the flowing of water down
hill. During four years ending June 80,
1894, $232,7So, 726 more coin and bullion
left this country than came in, or an
average of SIS, 197,451 per year. This is
the result of International money. The
precious metals are virtually international
are the same in all countries. The peo-
pie who are clamoring for monetary
conference to adjust the coinage of silver
on some international agreement, show
how little they know of the laws that
govern the movement of money An
international coinage would afford bet
ter facilities for the transfer of metal
money from one country to another, and
the country having the lowest range of
prices would draw the most coin, in the
effort which natural laws always exert to
equalize and level up. The interest which
the debtor nation owes the credit nation
would alone defeat or modify this ten
dency, which is an evidence that interest
is violation of the natural law of trade.
There is but one remedy for these alb
normal conditions, and that remedy is
the creation of a national legal tender
paper money, which, if kept under gov
ernment control for the use of the peo-
pie, would soon drive out all coin money,
which would go to other nations in the
effort to even up conditions III trade
throughout the world by supplying the
partial money vacuuns by transferring to
them the surplus coin, cut loose from
circulation by the paper currency.
The United States above all other
nations is best prepared for such all adj
vanced step in scientific finance. Her
supply of the precious metals is the largest
of any country and the yearly ut-put
would be greater if properly developed.
The price of her silver could be raised
quickly by its free coinage and use as
money till other nations would pay more
for it than it was valuable to lis, and as it
left our shores in company with gold
their place would be filled by government
legal tender paper, and the precious
metals taking their proper place among
commodities would enrich the country by
their sale as iron, wheat cotton and other
products of export Under such condi-
tons it would be blessing and a profit
for gold to leave our shores to return no
more, as bread stuffs and other merchan-
disc leave us to bless other peoples and
enrich Americans by their sale
While our people submit to the bunco
game of modern banking and the shell
game of gold as STANDARD money OF
final payment" they will never escape
from the Egyptian bondage of the usurer
and exploiter. A national legal tender
paper money, receivable for all debts and
taxes and un- "redeemable'' in any other
money, with a system of government
banks to distribute and safely keep the
peoples money, is the road to all I'M
shackled monetary system that will Mn
bind the hands of labor and set trade and
business free from their task master,
usury. We must control the price of our
silver crop by free coinage aud take it out
of English hands. The price of silver
must be established at our minis and not
i'll London by bullion brokers, and our
people use it as money till other nations
pay more for its use than we can afford to
pay.