Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1895-05-23

congress, but that the Popul.st sena-
tors will hold the balance Of power.
Speaking Of the silver question, he
says:
"The sentiment in favor of the utili-
cation and the rehabilitation Of silver
to its position as money metal and as
a money of ultimate redemption; and
In connection with gold as the regula-
tor Of volume, or amount Of that thing
called money, is overwhelmingly strong
in the South and West, and in my opin-
ion ought to be strong and conclusive
everywhere, II people would recognize
the undeniable fact that money is pure
ly the creature Of law. It is now, al
ways was, and always must be, Just
what the law of It's own country makes
1t, and when 1t passes beyond the linz
its Of its own country it is not money,
but Immediately becomes commodity,
which goes upon the market at its mar
ket value just as your bale Of cotton,
hogshead of tobacco or bushel Of wheat
goes upon the foreign market at its
value.
"To illustrate: Four hundred and
twelve and one-half grains of stand
ard silver, coined into dollar and 25.8
grains of gold coined into dollar, are
legal tender dollars anywhere and
everywhere In the United States. With
in the boundaries Of the United States
each Of these dollars performs precise
ly the same functions, each pays exact
ly the same amount Of debt and buys
the same amount Of property. Under
the laws Of the United States, certain
treasury notes have been made legal
tender money, owing to which fact tho
treasury note will perform every func-
ton as money that gold or silver coin
can perform; will buy as much or pay
as much, dollar for dollar, as any other
money in the United States.
Nov here are three kinds of legal
tender money in the United States, and
under the laws Of the United States
every dollar of either can and does
perform all the functions of legal tender
money, or, in other words, each dollar
Of which, as money, is the exact equal
Of any other dollar that the laws of the
United States have made legal tender;
and, therefore, the idea of talking about
the market value, commercial value or
Intrinsic value Of the material Of
which money is made is simply abb
surd, and a device-I will not say a
contemplate device Though 1 think
1t is)-intended simply to complicats
the question and as far as possible to
confuse the public mind"
The present attitude Of the goldbugs
towards all those who oppose their So
called sound money doctrines reminds
US Of the story Of the mean man who
owned a COW in partnership with his
brother. The mean man insisted that
the hinder half of the COW was his and
that the forward part was his brothers,
which he was in duty bound to feed
and care for. The mean man refused to
divide any Of the milk, refused to pay
for any Of the feed, and then sued his
brother for damage when the cow
hooked him. All the bankers and sound
money want is to give them bonds on
which to base their banknotes, pay
them interest on the bonds, pay interest
on their notes, pay interest on the de-
posits, demand no security from them,
and all Of their notes that become de-
stroyed to become clear gain to them.
This is the Sound Money" dlctrine
that is being preached all over the
country.
The plutocrats seem to be getting
their eyes open. In the American
Banker Of March 20, we find the follow
ing significant paragraph:
"0f particular interest this week was
the arguments made before the United
States supreme court in defense of the
constitutionality Of the income tax.
Aside from the purely legal problems
which are involved there were utter
ances made by lawyers Of eminence in
favor Of the tax which were inspired
by exaggerated conceptions Of the
growth and power of revolutionary
sentiment in this couptry Attorney
General 0lney intimated chat unless
the court sustains congress in this case
there might come by and by a revolu-
ton which would sweep the court as az
present organized out of existence, and
Mr.. Carter of New York, argued to the
effect that the rich men ought to be
made to pay much larger share Of
their possessions in the way Of taxes
than the poor, and that dangerous So
cial uprising might be avoided by en-
forcing this principle"
That is about the right view Of the
situation, and coming from such men
as olney and Carter ought to have
much weight with those who seem TO
think that If the law and the courts
are on their side they constitute q
perfect refuge of safety. The people
know that either the court or constltu-
ton is wrong and they have a strong
suspicion that 1t is the court, hence, as
Mr.. olney intimated, there is danger
of the people wiping out the court. The
court is made by and for the people and
the honorable judges don't want to lose
sight Of this fact.