The Caucasian. (Clinton, N.C.) 188?-1913, 1895-07-04

There is about as much sense to
be extracted from the Observers ar
ticle by reading it backwards as for
wards; 30 by way of reply to the
question which closes it, we simply
say WHY NOT? Why not abolish
poverty? Who is in the way? Who
obstructs the plan? Who does not
want it abolished? These questions
embody sufficiently intelligent an
swer to the Observers question TOR
the present.
The next question (going back
wards) is eff the stamp of the gov
eminent can create value there is no
need to put it on so expensive An ar
ticle as silver-why not use nickel,
copper, iron or paper?"
Well, doesn't the government use
all these articles except iron for
money. Doesn't it's stamp make
seventeen cents worth Of nickel
dollar? Is the amount of copper in
one hundred cents enthusiastically"
worth dollar? If not why does
the stamp of the government make
it worth dollar? Was the paper
used for printing $346,0O0,0OO in
treasury notes worth all this money?
If not, why is it worth so much
when the government stamp is put
on it? Did the paper on which the
bonds recently sold to the London
Jew syndicate by Cleveland, Sher-
man, Carlisle and Co. cost the face
valued Of the bonds? If not why is
that paper worth its face value and
also an annual interest after the
government has put it's stamp on it?
Why is it that little lump of silver
"intrinsically' worth fifty cents can
be stamped by the government and be
come worth dollar the world over?
You'll say, of course, "because
these obligations are redeemable in
gold"
So, SO! Well, how much gold is
there in this country Does it
amount TO one-fifth as much
as the obligations of the gov
,ernment? If not, are not every four
dollars out of five already issued ana
in circulation fiat money?
! Now, Mr.. Observer, you see how
easy it is to ask some questions.
Can you answer them with the same
facility, especially the questions asked
above? Until you can, you should not
seek to confuse so important sub
ject as this by fiinging few interro-
cation points into it.
| You say, "there was no redemp-
ton for the French assignats or the
Confederate currency" Don't you
suppose the currency of the Con.
federacy would be good if there was
any Confederacy? If there should
come revolution by which this gov-
ernmemt should be wiped out as the
Confederate government was in '61-
65, would its obligations be good?
There is not enough gold to redeem
anything like all the bonds. What
would become of both bonds and
currency?
| Nov, please see if you can grasp
this proposition. The Populist is a
man who wants to see all men treat.
ed alike under government laws.
Because one man happens to COM
mand gold enough to buy bonds,
the Populist does not think he should
be allowed to borrow money from
the government at one per cent and
then lend it to another citizen at SIX
per cent, acith interest payable IN ad-
vancs. He believes that system of
national finance can and ought to be
devised by which all citizens can
get the use of money on the same
terms.
i The Populist knows that gold il
the only 'sintrinsic" redemption
money under the law. He knows
that few men control all the gold,
and hence they control all the cur.
rency. Can you digest this propo.
sition? If these few men control all
the currency, have they not power
which ia dangerous and frauaht
with peril to the country? Mr.
Chauncey NJ. Depew, who is one Of
your men, is authority for the state
ment that five men can produce .
disastrous panic in this country a
will. Are you content with such .
legal system of finance as this? A.
to silver, the Populist thinks if it b
added to the redemption" money, i
; will double the basis of circulation
He knows it will not be so easy fo1
l n $ov-, vvoo,, -