The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1896-09-17

| portant than its functions as n medium OF
exchange. Our exchanges aggregate siAts
thousand millions n year. but our money III
circulation Is only fifteen hundred miiiIons'
The bulk OF the exchanges Is effected Win
checks and other instruments or credlt'
But though money itself is not exchanged,
all exchanges are measured In the dollar
unit Of value, and the security and safety
Of the whole volume depend upon the In
tegrity OF that dollar unit, just as the safe-
ty Of every sale of cloth depends on the
integrity OF the yard unit. lou can make
a yard stick of wood o. Of ivory, but they
! must have the came length. You can make
a dollar OF gold or silve". but they must
have the same value. You sell cloth ana
measure the quantity in yards; you pay
and measure the amount IN dollars, ana
whether you measure in half-yardS, called
| yards, or In 5O-ccnt dollars, called 100
cent dollars, the transaction Is equally
fraudulent and dishonest. Our existing
STANDARD of value is the 1O0-cent gold dollar;
free silver coinage would make our standard
the 5O-cent dollar and that Is the reason
why 1t would be a crime OF reputation.
dishonor and disaster.
1--WE must educate the people that govern.
ment fiat cannot make money. The govern
meht stamps. weighs and c%ertifes, but does
not create. Money is of two kinds-real
money and representative money. Real
money has intrinsic value equal TO it's face.
Representative money Is a promise TO re-
deem in real money. The gold dollar is real
money, because il Is worth 100 cents.
whether coined or melted. The paper dol
lar Is representative money because 1t Is
simply a promise to redeem in a real dollar.
Its value is not in the stamp, but in the
fact that the staGip pledges a real dollar
behind II. The present silver dollar Is part
ly real and partly representative. 1t has
80 cents worth Of value and As cents worth
Of ~faith-faith that the government Will
fulfill Its pledge OF keeep'Ag 1t at parity
with gold. The proposed silver dollar under
free coinage would be neither real nor rep
resentative. 1t could not say even with the
paper dollar, i know that my redeemer
liveth,' for there would be no redemption,
and without redemption It's value would
sink to Its bullion value of 80 cents. We
want neither cheap dollars, nor cheap men,
nor cheap presidents. We must educate
the people that political independence is
one thing and, independence of the iaws
of trade and nature is another. The most
puerile and grOteSque idea even of the boy
orator Is his repeated and pet notion that
because this country declared political in
dependence of Europe in 1916, II ought to
declare an Independent monetary standard
in 1896. He seems to think that we ought
TO have a distinct American measure of
value, because We have a distinct Ameri-
can measure Of libcrality.'
An y Will Represent Bryan.
1--WE can have American geography be-
cause our rivers and mountains and glorious
fields, with their rich harvests, are our own;
but we cannot have an American arithmetic,
because two and two do not make five. and
fifty does not make 100 In the United States
any more than IN Europe. We can pave
an American political economy, because pO-
litical economy Is partly a matter Of con-
fttA- --l lsE
from those of Europe; but we cannot have
an American algebra. because algebra is not
an experimental, but ali exact science. X
In algebra represents the unknown quantity,
and thus Ii represents Bryan after the cleo
ton, and not even the y rays will be able
TO discover his scattered and shadow re-
mains. A distinct American measure of
values! Why not have Il distinct American
measure of length? Why not have an Amer
lean yardstick. different in length from the
English yardStiCk? This talk Of an indie
pendent measure shows a callOw and shall
low mind. Do we not want commercial re-
lations with Europe? DO we not seek to
extend our trade? Then why do we not
want a common medium Of exchange?
above all and beyond all. we must edu-
cate the people that national honesty and
individual honesty are the best policy.
The nations and individuals cannot close
out with the world on one transaction and
Qult' IASF must keep up the account, and
for every act of fraud they will pay double
the next time. We are against the emigra-
tlon of good gold and the immigration Of
bad blood. We are against the outflow of
good circulation and the inflow Of bad citi-
Zenship. We find communism, revolution
and anarchy no more attractive and no less
dangerous when urged by the rhetoric Of
Bryan, than when enforced by the bomb Of
Altgeld, or the pitchfork Of Ttllman. We
must teach the unceasing lesson Of patience
and r"ctitude and must urge the people to
maintain the national honor, as sacrcdly
as they maintain the national life, and to
be no more ready in 1896 to cut in two the
standard of value which IS the basis and
measure Of all business security than they
were in 1861 to cut in two the Union, which
Is the basis and measure Of our national
greatness and glory. We are met at the
home of the great patriot and statesman,
the boy soldier and the man orator and
leader, who, by an u~nerring choice, Is fifty
made the standard-bearer in this second
mighty battle for national safety and well
fare, Let us go from his enkindling pres
ence and his glowing words with fresh in
spiratiOn and renewed strength for the
campaign Of education"