The Louisiana populist. [volume] (Natchitoches, Natchitoches Parish, La.) 1894-1898, 1895-03-15
BATON ROUGE, La,
March H. 1895.
EDITOR LA. POPUIIsT.

EDITOR LA. POPULIsT.
DEAR SIR:-The subject of Gle
gal Tender" which you referred to-
in private letter Is one full of In
terest. 1t is a serious question
whether or not it would be advisa-
BILE to discard intrinsic value money
entirely, using as medium of ex-
change no money but the legal ten
der of Tiffany. For many years
the best thinkers have abandoned
the intrinsic value theory of money,
and thoroughly understanding the
uses and purposes of money as we
do to-day, there are but two argu-
ments that can be advanced in fav-
or of intrinsic value as against le-
gal tender fat money.
The one is that, intrinsic value
money is used as bullion in inter-
national transactions and has what
is commonly believed to be the
further advantage Of retaining its
bullion value after the government
issuing it has ceased to exist.
Clearly, the former is an advan-
tage. But in a late communication
on ''legal tender" to the Comrade
/ have indicated a way in which
international transactions may be
made as easily under a legal tender
system as they now are under the
pretended intrinsic value system
in vogue. AS to the latter / al
not so sure that this supposed az :.
vantage is all advantage at all.
And without going into an elabo-S
rate argument to establish the
point / may illustrate with a ques-
ton and case in point. Is it not
practicable under present methods
of financiering for one or a few in
dividuals to got possession of all
the intrinsic value money and Their
to be able to say, 'The government
be damned, we have got all the
money!" And they could damn
and destroy the government ano
their money still have its value, so1
they might take their money bags
and sail off to Europe with then
and leave us without a medium Of
exchange. This could not be sale
of legal tender money, we have not
a case, but cases in point, OuI
goldis being constantly sent away
to Europe, not to settle balances
but to be boarded there; not to des-
troy this government outright, bu
to distress us and force us to bor-
row, and issue bonds, and pay
more interest to get it back agail
as basis of a medium of exchange
Notwithstanding congress has ann
pie powerr to provide a medium
of exchange at no cost whatever
as demonstrated by Judge Tiffany
our accepted authority.
Under the legal tender system
pure and simple, there can be N.
doubt but that the patriotic senti
ment would be reinforced by tina
other powerful factor in the max,
up of the human animal, self inter
est. 1t would become the sole in
terest of every property owner,
every owner of a dollar to stand b,
the government issuing his dolla
and protecting his property value
There would be no incentive to AZ
Astor to HE himself away with hs
money bags to foreign land Their
to buy unto himself a newspape
with which to turn upon and be
mean his native land.
Really the question is a seriou
one to all interested in sound financ
and republican ideas of govern
ment, and l trust the sgitatiO
may continue until we reach
rsettlement of it, calculated to Sc
cure to the entire human race tn
greatest measure of good.
Yours truly,