The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-11-06
FIAT MONEY AND REFORM CLUB
BROADSIDES.

In a recent issue, the Lincoln Democrat
printed the following:
"For the Raleigh News and Observer:
"Will the OBSERVER please tell us
wherein lies the difference between cir
culating the sound-money articles of the
Century Magazine IN 1892 and sending
out in 1895 the sound money "broad-
sidesn of the Reform Club of New York;
The editor of the OBSERVER has been
pretty severe on the "broadsldes" here
Of late, and we are thereby reminded
that the North Carolinian in 1892 was
publishing gold standard articles, with
favorable comment thereon. The editor
of the North Carolinian in 1892 is the
editor of the OBSERVER in 1885,"
The Democrat evidently thinks it has
given us poser. In the winter of 1892
and 1898, the editor of this paper, who
was then editing the North Carolinian,
copied a series of articles on the money
question that had originally appeared
in the Century Magazine. These articles
were directed to an historical review of
the failures of Mississippi, Michigan and
other American States; France while
Law was its financial leader the Ar
gentine Republic, and other countries, to
make paper the sole money of payment,
and to discard the necessity for money
of ultimate redemption. The articles
were inspired by the havoc wrought by
the collapse in the Argentine Republic,
and presented the argument against
fat money by an appeal to
the facts of history. 1t was to cor
rect the notion proclaimed by the adVo-
Gates Of the Treasury and other
forms of fiat money that these articles
were copied, (set in type in the North
Carolinian office, at the editors expense,
If you pleased and there was not an ar
ticle in the series advocating the single
gold standard, or one treating of the
silver question in any phase. The
articles related entirely to the fall
lacy of the fat money idea, and
emphasized the necessity of metallic
money basis. If there is anywhere
disbeliever the fiat money theory, it is
the editor of this paper, and the articles
from the Century fortified and strength
ed his belief in the necessity of re
demption money. Indeed the articles,
copied from the Century, followed and
came as an ADLER and stronger presenta
ton of the reasons why fiat money would
not do, to the editorials on the
same line printed in the NORTH CARO-
LTNIAN during the C ampaign of 1892 There
is therefore no warrant for saying that
"The North Car0linian in 1892 was pub
fishing gold standard articles with favor
able comment thereon, :" and the Demo
crat has not convicted the editor of in
consistency, and does not make out
even second cousin to parallel case.
Our hostility to the Reform Club
"broadsidesn grows out of the spirit Of
their introduction. When the campaign
for the gold standard began year or so
ago, the problem that confronted the
Reform Club was how to reach the
South. 1t was suggested that many
Southern newspapers use plate matter,
that the editors were poor, and that if
gold-bug plate matter or outsides were
furnished to them free of charge they
would sue them. 1t was upon
this theory that the ''broadsides"
were furnished, and it is to be regretted
thai the editors who were honestly in
favor of the gold standard did not con-
denim the plan. 1t was intended as a
bribe. 1t was offered to all papers that
would use it, in the hope that, in order