Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-07-30
More of ihe Money Question.


Editor Desert NetOG
Inmy lasi, l promised 10 point out
some Of the differences Lolwsen pub.
lie and private money.
Private money Is money possessed
or loaned by individuals. Public
money IL money possessed OF loaned by
tho government. with this definition,
nlust ClAim that no public money
was ever used by our poOplo es busi.
ness tool. 10 Ia tue, tue RrcvnJauk is
thought by many to DO public money,
but a moments reflection viii dispel
this Iden. II Ia true tHe government
Issued IL and expended II for liz own
necessities, the same ~ any other rev
enuo, and by 70 doing, pA!ted with all
Ownership In the money. ltis private
money 10 all intents anu purposes. II
the government had loaned II, II would
still be public money. our laws re-
quire all production and all business
done with private mouey-thers being
no othsr-and ~ owners ~ money re-
fuss 10 use 1t OF Let others use II, business
becomes sluggish, by being deprived
Of 10 healthy How Oi business liieS
blood aud diTeiul effects are sure 10
follow-money ilufries and money
panios.
To prevent another money ca a,tro-
phs such NJ afflicted our country the
past lew year,, nn ample supply OF a
full legal tender public money must bo
provided a. M auxiliary TO private
money, and loaned direct 10 tbs people,
to the states nnd 10 tho government,
upon securities Of uuquestlouhblo
value, such as bullion, government
auu state bonds At ninety psr cent u
their gold market value, anu urDn feAl
estate at one half Of lie taXablo value,
at m equitable interest apptO1imnuug
three pr cent pnr Anuun, and mauo
always available whether private
money may or may not lie available.
IL this be done AMI administered
through a banking department, our
money system would br about ~ per-
feet Ms trade aud production would
require 10 keep businoss alwsys
healthy. Then no more money nurriet
or monoy panics would bs potsiblr,oVen
should private money DO boarded.
Having said this much respecting
public and private money, will now
compare the two more closely aud Ne
tho RtesnbAok II considered ~ good ~
gold coin for domestic use, and much
preferred 10 silver coin. l Will com
pare with the gresnbHcR.
l. This public money VIII be full
legal tender. Tue gTeoDbaok IN not.
=. The greenoack being limited in
amount becomes thereby = Ghyl5ok
currency like the precious metals nnd
like them may be cOTnefed, boarded
aud monOpolised 10 tho great injury Of
business.
This department money cannot be
monOpolizSd. 1t 10 always available to
thoso who have the security.
3. Tho greenback cannot DO oifcu.
lated only at the will Of its owner, hnd
upon the terms the owner demands.
This money can be distributor Mt all
times 10 rich and poor alike who have
the required security, In large or small
sums IN all districts of tho county OF
The same rate per cent.
I. The gToenbhuk IL not = repre-.
sentative Of value as all money should
be-. II was paid out Tor salaries to
soldiers, sailors ana other employee Of
the government, paid for ammunition,
ire arms, hOnet, phits ana
other government necessities for
prosecuting tho war, all being of n
IsrlshRblo nature, have long since
ceased TO exist aud Of coursv cannot DO
represented, thus depriying the green.
nack OF an essential money quaiIhca.
lion.
This department money II always y
True representative Of value, M II In all
loaned upon durable property which Ia
neld by yhe government for the re-.
demptiOn OF ths money II loans, the
iAme a. IL now holds government
ponds TO insure the redemption Oi The
aationsl bank notes. AZ long NJ there
n collar OF this money In circulation
20 long will the property tbs money
represents be- held for iis redemption.
8. THIS public money II all surely aC-
ceptAbly aud finally redeemed by thv
borrower or his property, without gov
eminent gold, government bond or
other government aid. Not ~ tho
gteenhauk, A. over ono thousand
million OF the m Including other treat.
ufy Dotea were redeemed 10y govern.
mont bonds aud they (ths bOudHl ATu
yet burden upon the government,
and one hundred mill n dollars Of
gold coin has been boarded at gfost
expense IN this treasury ever aiuCc, To
redeem the remaining part.
.. This public money would yield
tho government yearly, asum various.
ly estimated from sixty million dollars
to ono hundred million.
Tho gresnbhuk IN shown above IL q
continual eNpente.
Z. This money could always be b1r.
Towed at about AN equitable interest VI
three per cent. PSF nnnum, Tho green
back II II can be borrowed Mt nil ~ Ike
the coin, demand all n usuTer can got
out Of II, ranging from six por cent per
hnnum TO three per cont p1r mouth.
s. Tho gfeonbacks are bills payable
W the government IN gold coin. rrs
money Ia payable BY ne borTotor tD Ms
government. 4 big difference truly.
.. The gteenbRck Vas put In q Culs'
ton without security save government
credit. This money Ia secured upon
6peclhc property Of the most durable
KIND, ~ well rs government credit.
10. The greenback 10 not elastic, ha,
no power TO increase or decrease Il
accommodate the inureRfu nud deCtraB,