The Irish standard., 1896-06-13
ONE LESSON IN FINANCE.

1 for the future Will have been reaaized.
ONE LESSON IN FINANCE.
4 Chicago had great lesson In finance on
Friday. A Chlnaman bought for 1854 a
draft for $1.0oO in silver, payable at Hong
Kong. The purchase was made in silver
cert! t!fcates, showing that one cheap Amer
lean dollar, backed by gold standard, will
purchase two more valuable silver dollars
when circulated In silver standard coun-
try.-st. Paul Globe.
| That Is set up as reason why silver
should have been demonehzed. Putting
aside all this clap-trap about a cheap dollar
! will somebody tell us how 1t Is that the sill
| yer dollar we have Is worth 100 cents and
how 1t happens that 1t is worth that
amount? Stop talking about IN inteuna-
tional agreement. This country does not
need an international agreement. # .Eu-
ropean countries cannot take our silver dol
lars IN exchange for their products they can
leave them a.one.
It's sorry thing that this nation cannot
make silver dollar as good as any other
dollar. What kind Of legerdemain must
we 60 through in order to have that fact
recognized7 One would think by listening
to the gold bugs that the question Of money
was something that needed inspiration to
understand 1t. The talk about fat money
I-heaving up pitiful sigh that such a thing
should be In existenoe-is the sheeregt abb
surdity. Every dollar in this nation today
is tiat money. Withhold the government
stamp or sanction from the most precious
dollar we have and It becomes worthless as
money. The cheap dollar Is only made so
because the government has SO willed It.
The fact is the people are thoroughly
tired OF being fooled to the top of their
bent The alluson IN the Globe to the Chi
naman's purchase proves nothing. The dol
lars Of our country are not circulated freely
because they are backed by gold standard.
| They are circulated because the govern
ment has said they are money. and nobody
ever thinks of redemption. 1t may be said
in opposition to this that the reason why
they are circulated freely and without ques-
ton is because the government stands back
of them and is ready to redeem them at any
moment, as soon as presented. But no.
body wants them redeemed. Take paper
dollar to the United States treasury and
get a gold dollar in exchange for it, how
much better off is the man who made the
exchange? Intrinsically the gold dollar Is
| worth more In commercial sense than is
a paper dollar, but it is not worth more as
money. And as regards having money in
the treasury to pay all outstanding Cheap"
dollars when presented, the idea Is false
one There never was Sound" money
enough in the treasury to exchange for all
the currency in circulation.
| Our whole scheme Of finance is rotten to
the core. And IN speaking OF it as a
scheme it Is just that and nothing more.
The money changers of the world have the
struggling masses by the throat and they
are determined to keep them in their VIC
ious and numbering grasp. Think of rich
banker being fiurried about the poor mans
wages. He continually prates about that
and nothing else. He never seems to have
any concern for himself. It Is the poor man
he is thinking of-the man who must live
by his daily earnings. Was ever hypocrisy
exemplifed In more glaring manner than
that?
| The moneyed men say they are afraid Of
the silver dollar because it will injure the
profits on the poor mans labor. Angels
and ministers Of grace defend us! The
agony that those bankers endure because
the laboring man cannot be sufficiently re-
warded for his work must be fearful.
Our cheap American dollar, as stated In
the Globe will continue to buy everything
| it needs, if the government shall only say
so. One would think by the talk of the
bankers that every man was robber that
did not believe that the moneyed man could
put the value upon our currency instead OF
the nation itself. Thank providence they
are awakening from that Rip Van Winkle
sleep.
WHAT THE DISASTER TEACHES.