People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1896-08-27
Chester |. Longs Speech.

ID Hon. !. l. Long speech SATURDAY,
August Sth, more particularly on ac-
count of wrong and misleading state
ments from beginning to end. Moth
ing more though could be expected
from so recent a convert to the golden
image. 1t would be wrong TO let all
of his Misrepresentation 60 unnO-
ticed. To notice all would be as tire
some as he was in making them. |
will notice four o: his statements and
the balance can be judged by them.
And two Of them will let the people
who ought to know answer.
First-He said hogs were higher
two years ago than any time since the
war.
Second-Grain is as high now as it
was in 1864.
These two statements anyone can
answer who is old enough. But in
ridiculing free coinage he said, What
would you think of law that would
allow person to present paper at the
United States mint and have it made
into money free:?"
Mr.. Long is possibly not aware that
the paper which is engraved by our
government and made into paper
money is a production of Great Brit
ain, and if it was presented for free
money it would have to be presented
by BrittOn. That though can be
seen would be in keeping with the
legislation which he favors.
But the most important of all of his
misStatementS to notice is the one
wherein he says the government can
not fix the value of money.
Now the proof of the faIsity of that
statement outside of assertion: Judge
Titfany'S Tiffany on Government and
Constitutional Law" a standard work
long before the Greenback, Union
Labor or Free Coinage parties were
born, and which was Endorsed by our
60. p. in former years, says section
400: "TO coin money and regulate
the value thereof as an act of Sover-
eighty involves the right to determine
what shall be taken and received as
money, at what measure or price it
shall be taken and what shall be its
effects when passed or rendered in
payment or satisfaction of legal obli-
cations. The act of coming money
consists in affiXing to that which is to
constitute money the stamp or seal of
sovereign authority by which it may
be recognized or known in market as
authoritatively entitled to be received
at the price or the value stamped
thereon.
THE authority which coins or
stamps itself upon the article can Sc.
lecG what substance it deems suitable
to receive the stamp and pass as
money AND IT CAN FIX WHAT VALUE
IT DEEMS PROPER INDEPENDENT OF
THE INTRINSIC VALUE. The
currency valueis the stamp when used
as money, and not in the metal or ma
terial independent of the stamp. In
other words the money quality is the
authority which makes it current and
gives it power with which to accom-.
plish the purpose for which it is ere.
ated-the power to pay debts.
Section 40l. To confound
the legal quality Of money with the
commercial value of that which is
used to receive the royal impression
begets infinite difficulty because there
is no necessary relations between the
two.
Section 4O3. The art of coming
money consists Of imparting to one
substance this legal currency QUALITY
by which it legally can be used as a
medium OF exchange without permit
ting its value as authority to be ques-
toned in the market. That upon
which the stamp is placed is called
CON- The art of stamping is called
coming, and as the practice of all the
governments using currency has been
generally to place its money stamp
upon metals Of some sort the common
idea of coin is that it must be a metal
as "A substance distinguished from
other Substances. But this vests sole.
ly in the discretion Of the sovereign OF
sovereignty; whether this coin shall
be metal, parchment, paper or any
other substance is a question of expe.
'dleilry, of public economy and not Of
authority.
Section 4O5 = = The quality
of money is neither gold nor silver MOI
any other precious metal. 1t is sim
ply the sovereign authority of the ma
ton so impressed upon any substanc,
as by its presence to represent sucl
authority in determining at wha
price or value it shall be received il
discharging legal obligations. Dor
rowed from E. B. Will, Lemars, Iowa