The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-08-20
TAYLOR ROGERS BOOK,
A New Treatise on Scientific
Money by Mayor Sutro'S
Secretary.
RecapltuIatIon of the Authors Ar
gument In Support of the Paper
Theory.

Taylor Rogers is writing book. To be
more accurate he has just finished reading
the proofs OF a treatise on Scientific
Money" of which he is the author. The
book is not the result of preconceived
notion Of supplying a large gap left open by
recent writers on monetary questions. but
is the outgrowth of very careful study of
the subject in the light of history and
through conclusions deducted from that
study. Having become so thoroughly i'm
bued with the idea that the present money
system of the world was wrong, Mr..
Rogers continued his note-taking until he
had in hand material which he considered
too valuable to be allowed to rest idly in
pigeon-hole.
''Yes, it is paper-money theory that is
advanced in my book said Mr.. Rogers in
discussing the subject yesterday, land my
belief is that paper money will again be-
come an issue in a National campaign.
No, not in 1896, but the demand for such a
system will be made in the presidential
campaign in 1900. Meantime the silver
fight is on, and will serve to call attention
to the sins of both gold and silver money,
and as an educational move am in that
fight and hope it will win.
81 was first led to q careful research and
thoughtful study of the subject by the re-
mark of friend that did not know any
more about money than does Hottentot.
That set me to thinking, and / soon be-
come convinced that he was not far
wrong"
Mr.. Rogers argument for a paper-money
system is recapitulated at the close of his
book in the following paragraphs:
AS all our people by natural law are equal in
their rights, our Government is instituted for
the control and protection OF those. rights, and
being based upon consent, 1t may be changed,
as experience justites, to produce human
AS the heritage of history, gold and silver
came to us rs coin money and were adopted as
such for the purpose OF promoting wealth and
contentment among our people.
As money is an arbitrary standard, adopted
by law for and as measure OF the value OF all
other things 1t should have absolute certainty
and permanence as measure.
The experience OF the ages. and the solemn
confirmation of present conditions, con-
clusiyely show that gold ana silver are want
defect arises from their commodity value as
affected by the market price of their bullion,
and their uncertainty OF production, and that
functions, and this for the three fundamental
reasons following.
The cost Of mining and minting gold and
other inf cheaper methods for the people
The Nation has neither legal nor moral right
stamp impressed on his product, create value
therefor above its natural and market price, or
above the labor involved in its production.
Gold and silver mines are private enterprises,
and their products should not receive any dis
elimination in their favor and one not ac-
corded alike to all other enterprises.
By the commodity value Of gold and silver
and the limitation OF their quantities and their
private ownership, they become sure instru-
mentalities for effecting and controlling legis-
lation to the advantage of their owners.
The Government has an inherent legal right
and a positive moral duty to provide stable
currency for its people and fix its quantity and
power according to our immense needs and to
wisely control its volume, so as to avoid sud
den, dangerous and unnecessary contraction
and expansion.
Philosophy, law and experience combine to
show that q paper currency, limited in quality
by per capita or percentage plan and en-