Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1895-03-16

urv in gold: gold certificates, $685.
APO, 1863. not legal tender. redeema-
Die in gold; United States treasury
notes, act Of 1890. $155, 600, 900.
legal tender. redeemable by law in
silver, by practice in gold; silver GER
tificates, 1856. 1924, 5O4, not legal ten
der, redeemable in silver dollars;
currency certificates, act of June,
1872, $4S, $685. 900. issued in denomi-
nations of not less than 5000 upon
the deposit by the national banks of
United States legal tender notes,
'greenbacks;' national bank notes,
$206. eos, 40, legal tender for all
claims held by national banks. We
have in this nation in round numbers
%, SOC, 000,O 900 of money. OF this
sum $625, 107, $50, is in gold coin and
gold bullion and 1924. $50, 632 are in
silver coin and silver bullion; a total
of $1,249. 7O4, 1862. The difference be-
tween this amount of coin and bull
lion and the total amount of money
is 81 $50, 295, 6SS, which is redeema-
BILE by law or practice in gold of
which there is in the national treas
urv at the present time is abont
$3.50, 900, 900. With these various
kinds of money. and currency that
circulates IS money, and with the
limited amount of information given
to the people concerning the differ
ent kinds of money. the financial
question is difficult to solve.
by the aid of the law and prac-
tice by which the United Ste ties
notes, .greenbacks,' and the treas
ury notes of 1899, were redeemed in
gold, we see the national govern
ment forced to issue bonds payable
in gold, increase the national debt
in time of peace, to redeem these
two kinds Of currency. 1t is evident
that their should be legislation on
the money question; but such legis-
lation should not be in favor of any
class or injurious to any other class.
When we remember that all of the
legislation on the money question
for the last 81 years has been the
acts of the republican party. with
the exception of the repeal of the
purchasing clause of the Sherman
law in Nov. 1, 1898. we discern who
is responsible Cor the recent issue Of
the bonds by the president and sec
rotary of the treasury, and who
should be ccnsured for the financial
panic through which, let us hope, we
have nearly passed. When we re-
member that silver was demonetized
in 1873 by a republican congress and
president, and was followed by dis
astrous financial panic; that Presi-
dent Hayes vetoed the Bland-Allison
act of 1873 that remonetized silver:
that John Sherman. the leader of the
republican party on all questions of
national finance, was leader and re-
sponsible more than any other man
for the infamous legislation that
made all of the government bonds
payable in coin, and for the demone-
tization of silver in 1873, so that all
the government bonds were payable
in gold, and furthermore lead the as
sault On the 'greenbacks,' the money
that made it possible 20 prosecute
the war Of the rebellion successfully,
and more than any other man was
instrumental in retiring millions of
dollars of 'greenbacks,' and he still
favors the retirement of all the
.greenbacks, and was the father of
the Sherman law of 1890, that pro-
vided that the bullion silver pur-
chased by the government should be
stored in vaults and the treasury
notes issued, that enabled holders of
these notes to draw the gold from
the national treasury, thus compell-
ing the president and secretary of
the treasury to issue government
bonds-remember these things,
the voter can expect but little legis-
lation on the money question favora-
bic for the masses from the bill
can party.
Government Alone Should Coin.
81 believe the national government
alone should coin and issue the
money of this nation. 1t should
never delegate this power to any in
dividual or corporation. Whenever
the amount of money in this nation
is increased. the debtor is benefited
and the creditor injured: and when
ever the amount of money in the ma
ton is diminished. the debtor is in
jured and the creditor benefited. No
individual or corporation should re-
ceive the power from congress to in
crease or decrease the amount of
money in the nation.
Il believe that there should not be
more than three kinds of money in
denominations OF one dollar or the
multiple of one dollar issued by the
national government, gold, silver
and United States notes. green
backs Each dollar of these thr, e
kinds of money should be a full legal
tender for all debts, public and pri-
vate. except where otherwise cx-
pressly stipulated in the contract,
and each of these kinds of money
should be redeemable when present
ed for redemption in either kind of
money at the option of the national
government. All of this money 10
be reissued from the national treas
ury. l believe that the silver and
gold bullion now in the nation.