The herald., 1895-05-19

OF gold. stamped. is the only basis, and
upon this basis all our money and values
| must rest. Credit of government is a
| promise to pay; our gold money is the
| the credit or promise of the government
to pay. coupled with the immediate dis,
| charge of the obligation. There should
be in every credit system the element OF
time, here totally wanting. The thing of
value, gold, is in itself valuable, and is
made to represent itself. and when gold
money is withdrawn from CIRCULATION,
| business is chaos. and the credit OF the
government is locked up in safe deposit
| vaults.
Our government max es the attempt by
a reserve fund of not less than 500, 900. =
| 900 in gold. Has the government no own
ership in anything OF value but mimi
mum sum of gold2 If it has no basis, no
possessions but gold money ior ITS cur
| rency, ii has outived its usefulness as a
basis Of money supply for the people.
1t .gould be safer for the people to buy
| their own gold and silver from the miners
and put their own stamp upon the metal !;
this would become the representati We OF
the valuable property OF the indivldual
| and be an honest pledge.
| slf gold is our only government product
! of value. it is too valuable to remain IN
circulation. The coin of the realm should
| have a value because OF substantial be :
sis, ana carry the weight OF the stamp II
the United States mint backed by our
land values, our great national wealth,
our labor product, our army and navy.
Practically the business of the world
needs silver money. There is an abund-
ance of silver. AS long as gold is money
silver will stand side by side with 1T
in use, if not considered OF fixed relative
value. They began their career together,
long before there was any money in the
world. standing in the same relation that
they do today-gold more valuable than
silver because of their dedication, respec-
lively, to the worship of the sun and
moon.
Metal money is, after all. remnant OF
barbarism. Our advanced civilization
requires q simpler method of exchange.
A perfect system Of fiat money must be
developed. based upon the real values of
our country, and the question for the
American people to answer is this: What
are real values? Until it is answered
there will be no restoration of confluence
or safe adjustment of monetary affairs.
In our great conflicts of the past our
paper money was made valuable by the
victories of our armies. The money stamp
and the flag are closely associated. a
great republic should seek simplicity for
its coinage, in its business methods, and
establish honesty as the fundamental
principle. Free coinage OF silver is OBJ
jected to as giving miners or silver spec
uators more than silver is worth. This
must be so II silver is to remain demonet-
lied, or else the government will pay the
fraction of a dollar for its silver to coin.
and pass it upon the people as worth one
dollar. Either the government or indi-
viduals must make something through
the present system. Which shall it be?
Our two metals can safely BIZ used-gold
one-siXteenth of an ounce and silver one
ounce to the dollar. Gold is virtually
withdrawn from circulation in the east.
1t is used in California; but why could
not America with advantage have silver,
one ounce one dollar, the basis OF est:-
mate. and buy gold from our own people
for foreign import? Europe will keep the
gold standard. Silver could be preserved
so long as precious metals are used as
money, which should not be long. There
i much thinking to be done in this con
nection.
our laws denominate as real property
the lands and real estate movable prop
erty is personal property. Yet our
medium of exchange Is based upon the
most teeting and mercurial class of per-
sonal property-gold money-and this
property is limited in quantity.
Fifty dollars per capita IS needed IN cir
culaLion to transact our business. There
are only $1S-possibly not more than $40,
and for this $40 there are 500 OF credit.
Where there is panic it is caused from
fear. Our people withdraw their money
and leave a credit which no one Will re-
spect. The people at large demand their
money from the bankers. The govern
ment issues the money of tn d, country,
and the bankers are the helpless go.be'
tween, with no power to control either
the people on the one hand or the govern
lnent on the other. (Note recent monetIry
disturb 1nces and bank failures. The gov
ernment is so unwieldy; being "of the
people, it takes long time to act or
COME to the rescue. No man is wise
enough today to point way out, or has
the power to restore business confidence
and business values. Men are without
work, women and children are without
food. Then should not all men think
and study this great question OF finance?
There is something wrong that sends our
money across the sea to pay for imported
luxuries and leaves our people without
money. The question of money is the
most important one, from a material
standpoint. before the American people
today, and they wait with cruel anxiety
upon congress to bring rellef TO the
wealthiest nation of the world.
With products of the sell never more
abundant with mines of gold and silver
the richest in the world, with peace and
prosperity and the whole world for our
guests; with storehouses filled with
money, neither famine nor .pestilence
within our borders. we cry for help.
We are poverty stricken and panic
stricken in the midst of plenty.
Cash at Both Ends