The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-03-03
WHAT THEY KNOW OF MONEY
Governor Sheldon Addresses the
Single Takers
FINANCE IS A LIVE ISSUE
A Varied Lot Of Ideas as to a
Circulating Medium 81
Mr., conkiing Compares Honey to Poker
Chips -Mcssrs. 1iiIer. Hoyt, Wood and
ti Others on the Subject

SNNASiSro itoii OpViiiiiS W ClOoc.
The programme opened and was fire.
quently interspersed with music by Mrs.
Pearl W. Severance OF the Conservatory
Of Music, and one OF her pupils, Miss
Daisie Wheeler, who rendered either duets
and solos to the delight of all.
The chair introduced Ex-Governor Lionel
A. Sheldon, who spoke for nearly an hour
on the money question from the stand
point of a free silver advocate The
speaker ably reviewed the history of Gov
eminent finances and presented strong ar
gliMcnts i'll favor OF the free coinage of
silver. lie was closely listened to and
frequently arplauded
~ Al the close of Ex-Governor Sheldon's
address, after the announcement OF the
forthcoming discussion between Louis II.
Post and Judge Widney, and the fact that
Mrs. McComas would address the meeting,
the Single Takers took hand in reply to
the Governors arguments.
III. w. Conkling spoke with his usual
enthusiasm, and among other things he
Said:
''Money bears the same relation to civil
ixcd lite that the fancy red, white and
blue chips do to poker game. They are
nut wealth, but they represent wealth,
and are a convenient medium to use in
cRMying OH the game. Yet have never
heard anyone claim that if by legal en-
Hctrnent or otherwise the use of chips
could be prevented or their quantity di-
unfinished, the great American game of
draw poker would become lost art. The
dcyptec OF the game could still indulge in
his favored pastmc as long as he pos
scssed wealth. Scarcity OF chips could not
hinder him to any great extent under
such circumstances. The real trouble with
tho masses is scarcity of wealth. Not
that there is not plenty of wealth in ex-
istencc, but that the masses do not own
IL, n,ss; so far as they are concerned it
might about as well be out of existence.
Noproposcd reform is entitled to much
attention from the people at this time
Unless it will secure more equitable dis
tribution of wealth. Now, who would pro-
pose to equalize the distribution of wealth
about poker table by the increase in the
number OF chips or by providing that
those who were 30 fortunate as to have
ivory Of their own might convert the same
into chips. Real reform must 20 deeper
Than free coinage of silver or any other
financial proposition. 1t must secure to
the toiler the product of his labor. The
l,cr capita Of wealth production is greater
today than ever in the history Of the
world. but the product does not go to the
OF the product of his toll than ever before.
This condition of affairs must be reme-
died. Free coinage of silver will not do
II. The single tax will. l have not tin
~ tell you how. Read Progress and
Poverty AMI you will find out. Or. for
in the Single Tax, hear the lectures of
Louis +. Post, who will be in this city
sooli prepared to tell the people all about
IT,
clarence A. Miller said in part:
Money is a tool of exchange and ex-
change OF trade is the greatest labor-sav-
Ing invention in the world. Any improve
=. 70 MOI nf ntr.. ", No
likened to any improvement Of the
mechanical Workmanship of labor saving
machinery, and in the abstract II good
thing. LII other words, good money saves
labor Just as good machine saves labor,
the only difference being difference in
degree. But industry existed before
machines before exchange and before
money. And in spite of the invention of
exchange, the invention OF money and the
Invention of machines, the wages OF labor
still tend to that point at which the laborer
can make bare, bare living Judged by the
community. We could and did live
without machines; we could and did live
without trade; we could and did live
without money. Adam and Eve in Eden
and, Alexander Selkirk on the island of
Juan Fernandez, and Robinson Crusoe
III fiction, lived without any of these
But no man ever lived or could live
without land. He is not god that he
can create the things which he wants out
~! nuthing.
"Hc must have raw material, and all the
complicated system of industry which we
SEE around us is in the main the working
OF raw material into the things of beauty
and use ami necessity which delight and
serve Us and by which we live. 1t is
nothing but the application of labor to
land. You say capital is also necessary.
What is capital? Things produced not
f.>s hath n,x-n In l,t,t f,,r In p,t-n 6
making thcr things unfinished things
things in stock. And how were they
ma,ie? BY the application OF labor To land.
The fundamental necessit ties to industry
are lahOrers, land and access to the land
by the laborers. We have laborers, we
have land, and we have access to GER
tain extent therefore we have industry to
acort;ln extent. But we allow land to be
held out of Use at the pleasure OF certain
people, and to that extent we throttle in
, dustry and create class of unemployed
who keep wages down. Tax this land to
its full rental value and the owner would
have to put it to use Or lose money.
Again we discourage industry by taxing
the things which industry produces.
Tnko that tax off. Do not even tax i'm
provcmcnts on land. Let the tax OIL
land values be a single tax.
Ralph +. Hoyt said, among other
things: The money question Is not the
great question % the hour. And if that
question is not of paramount import
nilec, surely one phase OF it 1.-THE coinage
ofon particular kind of metal in GER
tain ratib with another kind) is not the
overshadowing issue for the people to set
tie. Compared with another question
claiming attention it is absolutely insig
Militant. 1t is scarcely worth consider
in.s, Admit the correctness OF everything
suld by the advocates OF free silver con-
cerning the incOngruities OF the existing
monetary system in this country, and
even then it cannot be shown that exist
ing industrial conditions are the out
lrpwth of financial absurdity and dshon-
csly on the part of the peoples govern
nriii That our present financial sys-
/ n, is exceedingly defective | have no
,ta,i,i. hut were we to have perfect
monetary system whatever that may be
wi,, the landlord system remaining as it
s,ti,ere could not be universal and per-
llsnent prosperity among the people,
pIle masses who clamor = for free silver
are doubtless sincere in their belief that
,i.r panacea they ask for is the thing
tnit would cure. But it may well be
,,.lbted whether many Of the leading adj
v1eutcs Of free silver look beyond their
nvi, personal interests in the matter.
islis widespread silver agitation is insti-
nte,l by a few owners of large silver
n.inrs who wish the Government to pro-
v,,le u market for their products. With
,us, men it is not a question OF whether
AZ government needs given quantity of
aver bullion every month, but only as to
Inv much silver bullion they have or are