Daily capital journal. (Salem, Or.) 1896-1899, 1896-09-05

scurrylng arounu TIE vouHtry' 10 get
bills on the nearest bank, and no necess-
ity Of paying commission to the banks
broker, or obeisance to bank officers
before you can pay your debts. This
system of finance would relieve the
people Of this country from the existing
bank thralldom and would liberate them
from the care of the British money lords
who are now caring for the American
people as the wolf cares for the lamb.
If this system had been adopted and
followed by the government from it's
foundation as proposed by the immortal
jefferson, who said, Bank paper must
be suppressed, and the circulating me-
dunn restored to the nation, to whom it
belongs" and as proposed by Jackson,
who was equally opposed to bank paper
and who favored a government bank
founded upon the credit Of the gov
ernment and its revenue" how different,
indeed, and how much more prosperous
might have been the condition of the
country in the past and at the present
time. The periods of depression and
panic which have carried sorrow and
ruin to countless homes, and which
have always resulted in the loss of the
many for the enrichment of the few
might have been avoided, for so long as
the government issues all the money OF
the country, clothing it all with full
legal tender qualities, it can never fall
below par while that government is
solvent and is in the possession OF plen-
airy taxing power. There never was an
| instance in the worlds history to con-
trovert this proposition. Such being
the case, the citizens Of a government
possessing such a financial system,
would be subjected to no periods oi
panic or depression, ruinous to some
and harmful to all. All gold and silver
should be coined and the amount OF
paper money should be regulated by the
| demands of trade and commerce.
NEED OF SILVER AS REDEMPTION MONEY
It is estimated, in round numbers
that there is in use in the world a.
money about four billion dollars OF gold
silver and paper each. With both golo
and silver as money of ultimate redemp
tions there would be no difficulty wnat
ever in carrying at par the present ol
even a greater amount Of paper money
Eight billion of metal money is broad
base on which to rest four billions OF pa
Der money. There is plenty OF coin wltl
which to redeem the paper, and so tner'
win be plenty of confidence that II car
be redeemed. There has great deA
been said about our present nnanciA
difficulties being the result OF a lack o.
confidence. That is indeed very true
But the lack of confidence results IRON
a lack of coin. With plenty OF full TO
demption coin money there win DO plenty
of confidence. With a scarcity OF suci
redemption money there viii necessarily
be a lack of confidence. Coin Is tn'
basis of confidence. The American
money svstem that would make boti
gold and silver the broad base for th'
support of the required payer money
has. however, been supplanted Dy In'
British system, that makes gold ALONE
fnlI REDEMPTION money and the base o.
support for both silver and paper As cur
rency. And so the world now mas
fonr billion base and an eight billion su
rsrstructure. The wise men OF IN
banks and the wise men OF the pnDn'
nrsss assure the people that this plan
the very proper thing and those ,. WI, ?,
differ with them are unscho0lou = =
6nance. The American financial polc.
I de,oands that the pyramid should STAN
an its base: the British policy demand
thst a sbould stand on its apex ana IN
Rsnublican party and the Cleveland "a .,
ministratiOn have Adoo1eo 'n' ''''--'