The times. [volume] (Richmond, Va.) 1890-1903, 1895-10-11
THE TRIBUNE As IGNORANT As THE
OTHERS.

The New York Tribune has an article
q day or so back. reviewing the action
Of the Democratic convention of Ma sa-
chuseits calling for the divorce Of the
General Government from barking, ann
liberty 10 the State banks % issue notes.
Which shows that that journal, with all
its pretension is really as ignorant OF the
Foundation rinciules Of true finance as
any Populist that calls for the issue OF
Treasury notes upon the security OF
beets and cabbage. True finance is as
simple and plain as any non-compleX
the proposition that the Government
shall coin the precious metals and stamp
on each coin The quantity Of metal that
st contains and that al mon shall then
he at liberty TO make their contracts 10
deliver this coin as they please and all
other men shall be at liberty to accept
these contracts when and as they please.
There is the whole mystery Of the sub
sect, and the government which POUNDS
its laws upon that plain and elementary
system. while the government which de-
parts In its legislation TO any extent
from that elementary proposition intro
duces confusion and the source OF dis
aster amongst its people That idea was
perfectly understood by the trainers OF
our Constitution aGd they expressly pro-
vided in that instrument that that
should be the financial system OF tins
people OF the United States. our imam
cial legislation was all framed upon this
scheme OF the Constitution from the begin
ming OF the Government until the war,
and the whole country prospeied under
the system. as no country ever prosper
ed There were no very rich men, but
prosperity WAS spread an through and
amongst the people. ana there was unit
vcrsal wcll-bein-.
But the war. came On. ana it was
thought necessary to accord TO the GOV
eminent every power Il chose TO claim
the right to do the Impossible thing OF
making paper into money. amongst
others What was conceded to II at
first soon came To DO demanded by 1t
as a right. \ new generation mas grown
up seeing the Government eA3ct TINS
power. until it has come to suppose That
81 IS the exercise OF a beneficial power,
individuals have worked the idea Tor
their own advantage until they have ac-
cumulated vast fortunes, While the sim
pie theory OF the Constitution is set
aside, and the vast mass OF the people,
oppressed by the laws for the benefit OF
the few. staSger along with their burdens,
and with no means whatever Ter inn
proving their condition.
The free-silver man supposes that vast
quantities of the thing he calls money,
without respect to the quality Of IL, Will
enable the masses TO have the CON
vcnicnces now denied 10 them. But the
visible thing named money is not what
business wants Business wants free
dom 20 make promises TO pay money. and
u transfer these promises. Il is not
the promises Of government that are
wanted. but freedom 70 transfer credits
based upon the commodities which busi-
ness proposes to exchange. That IS the
thing wanted. and that s. the intispensa-
bic thing. Very iittle actua! money ~
wanted. II business has perfect freedom
10 create credits and to assign them.
These credits are the true money OF
the country They are the thing with
which business is done. Nincty-seven
Der cent. OF the transactions OF business
are effected By the transfer of these
credits. and only three per cent. OF them
are effected by the use OF actual money
or paper currency. II there were one
hundred times the present amount OF
noined money, and one hundred times the