The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-03-03

said against the gold bug" but how
much better is the silver bug? Both
species OF bugs, like the tariff bug, the
chintz bug, the potato bug and the bed
bug, want all they can get, and will take
it. The silver bug is just as eager as any
other kind OF bug to enjoy special privi-
leges without paying for them. Each
class OF human bugs wants class legisla-
ton for itself. The question with the
bugs is not what would be best for the
country as whole, but what would do
the most for the bugs in their special
lines. The silver mine owner is not los
ing sleep because the people lack enough
silver dollars to buy supplies of food and
other necessities. What he wants is
market for the product of his, silver
mines. III the government, after buying
his ore, should dump it into the ocean
instead of converting it into coin, 1t
would be all the better for the silver bug.
Now, what the people really need is not
free coinage of silver or gold, or any other
metal, but chance to get at the natural
opportunities which are held wholly or
partially out of use by that most potent
factor in the perpetuation OF poverty
known as landlordism.
A far worse bug than any one OF the SIX
] have named is the landlord. he 1t is
who more than all other bugs, retards
wealth production, drives industry to the
wall and blockades the harbOr OF prosper
ity. Let us disarm this land monopoly
bug by making him either pay for his
special privileges or quit, and then the
moneyproblem will be easily solved"
Mr.. Ira b. Wood. IN speech of about
twenty minutes, held that the people ad-
vocating the free coinage of silver at the
arbitrarily fixed ratio of 16 to are bark
ing up the wrong tree OF knowledge in
their quest for the cause and the cure OF
industrial depression, and Single Takers
IN oh; aHx into in, ha Onccfinr h6-
cause of the ability and energy thus di-
verified from the investigation of the real
cause. Ii large and incessant stream OF
silver dollars had been pouring from the
minis and eagerly absorbed by the people
/ previous to 1873, the sudden stoppage of it
might have imposed hardship on the peo-
pie of the United States, but such was not
the case. 1t is an indisputable fact OF
history that from the beginning of the
Government down to 1873 only about 81,
100000 OF standard dollars were coined,
while since then under the acts of 1878
and 1890 more than 1920, 900, 600 have been
turned out. A great country can hardly
be afflicted with widespread distress be-
cause OF the failure TO continue the manu-
facture OF an article that had been used
to such a limited extent that it had be-
come almost obsolete. Those who think
that such large amount of money is nee
essary for trade treat money as though it
a tool and the least important. They ig-
more the fact that over 50 per cent OF the
worlds trade is carried on without
money, but through the medium OF
checks, drafts, bills OF exchange, tele-
graphic orders etc. These mediums are
utilized not because money cannot be had,
but for the reason that their use is cheap
er and more expeditions than that of
money. With the devices of scence and
ingenuity money has become of less i'm
portance as a medium of exchange and
more valuable as measure OF value.
This country now has per capita OF
about $26, exceeding that of any other
country except France. Belgium, the
Netherlands and Australia, and the latter
with higher per capita experienced in
dustrial and financial disasters besides
which ours were insignificant.
The amount of money in existence
might be enormous, and yet the whole of
it be possessed by few. A great quantity
does not necessarily mean general dis
tribution or active circulation. The latter
is dependent upon industry and trade.
As people have access to natural oppor-
tunities they will be Industrious, trade
will flourish and money will circulate.
Money is not wealth. but the representa-
is to have something to give for it. AS
the only way that something can be pro-
cured is by labor applied to the land, the
source of all wealth, il follows that what
ever the kind or quantity of the money it
will be the people who own the earth that
will own the money. The only way TO
secure an equitable distribution of
money, if such can be had, is to abolish
the monopoly of the earth. The Single
Tax principle will accomplish this great
est of all ends and settle forever the
money question.