The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-12-09
FOR A GOLD STANDARD
PHILIP RAPPAPORT EXPRESSES HIS
VIEWS ON THE MONEY QUESTION.
Change i'm Money System. He Says,
Will Not Better the Condition
of WorlkinSmen.

Philip Rappaport, editor of the German
Tribune, and well-known Socialist of the
city, presented his views on the money
question to large audience at the Progress
Club yesterday afternoon. He spoke from
the standpoint of the reformer Personally
Mr.. Rappaport is for gold first and last, but
he does not see how monetary changes can
affect the interests of the working people.
At some length he defined the meaning
of the term money as il is commonly en-
ployed to-day. The money question. he
holds, is no question at all. and he declared
that it would be senseless to change the eff
fects OF conditions without changing the
conditions themselves. Bank notes, treas
ury notes and greenbacks, Mr.. Rappaport
contends, are not money. but are simply
tokens of money. The difference between
money and it's token he holds has been the
cause of much confusion. Money tokens
cannot mean values. \ paper dollar means
absolutely nothing, because the measure is
the metal dollar, and, unless the equivalent
In metal is behind the paper dollar. it is
worth nothing. The government, says Mr..
Rappaport, does not make money and never
Will. The golden metal Ia money no matter
I'm what form it is found. and the govern
ment, for the convenience of trade and ex-
only gives the certain quantity of the coin
and saves the man who receives 1t the
trouble of weighing it,
People are misled, said the speaker, in
confounding value and price. The supply
and demand has It's effect on the price, but
not on the value. The wealth OF a country
Is composed of values, but not OF prices
The speaker at some length took issue with
Coins Financial School," which holds that
the government can create values. Our sys-
tenn OF exchange is based on the profit sys-
ton xr-As oh the tn 10 kaT
be impossible II values and profits were the
same For. If there is an exchange of equal
values. there can be no profit.
Mr.. Rappaport opposed the coinage OF
cheaper silver dollar. 1t could only at best
be temporary arrangement he thought:
IF you would to-day he said, divide the
wealth of the country into equal parts how
long would 1t take until the rich would COM
mand the same power over this wealth? No
matter what kind of money you have under
our economic conditions. it will always run
through the same channels into the same
receptacleS.
The speaker could not see wherein cheaper
Is the history OF the country" he contin-
ued, that III there is any change in prices
wages follow last. III We get cheaper kind
Of money prices will rise. The result VIII
be during that Interval between the rise
of prices and the elevation OF wages the
workingman will suffer II is absurd to try
to better the conditions Of whole class Of
has nothing TO do with the kind OF money
that is in existence. Under our economic
conditions wages have a tendency to go
downward, and they will never amount to
more than is necessary for the support of
the workingman and his family. 1t is fool
ish | think, TO talk to workingmen about
lettering their condition by change in
the money system. From the standpoint of
the social reformer l take no interest in the
money question whatever
Mr.. Rappaport then made the blunt asser-
ton that he was a gold monometallst, and
believed that in the capitalistic world to-
day gold is the only thing that can perform
the functions OF money