St. Paul daily globe., 1896-04-08
STILL DREAMING.


Of the foremost and most ably edited
newspapers published in the South to
realize the truth of what Col. Mcclure
reported the other day, that that sec
ton was in a state of f1ux, without
settled opinions upon either politics or
economics. The strangest and most
visionary ideas still prevail there about
the function and duties of government.
A people whose whole education has
been concentrated for thirty years
upon the negro problem, and who have
left themselves in that period no time
or thought for the study of the larger
problems of state, are now making
their first essay at the solution of the
questions that are presented to all of
us. 1t is, perhaps, no occasion for
wonder or encouragement that their
steps are as feeble and uncertain as
those of the infant taking it's first
lesson in the art of walking. They are
just at the beginning of the road which
the people of the rest of the country
have already painfully traversed.
Here, for instance, is the New Or
leans TimesDemocrat, probably the
strongest paper in the South, and
certainly the most ably edited, coming
out with an article on the currency
question, in which it says: ''The gov
ernment takes the amount of white
metal bullion which is now in the
silver dollar and puts the government
stamp on it. And the simple impress
of that stamp on that amount of bull
lion converts it at once into a coin
value of 100 cents. What is the paper
dollar bill? The paper is not worth
one cent. But when the paper has
been engraved and stamped it becomes
worth 100 cents, and is interchangeab BILE
at any time with a silver or a gold
dollar
We had thought that preposterous
fallacies like this were now confined to
persons of limited knowledge, and it
is certainly true that throughout the
North, where the financial question
has been discussed, only the most ig-
norant people still hold any such inn
possible doctrine. Just think of it!
The government, by taking piece Of
white metal and putting a stamp on
it, converts it into ga coin value of 100
cents" Obviously, it can make no diff
ference whether the metal in question
is white, black or brown, whether it
is silver, copper or iron. If it is the
stamp that gives the coin value, then
it will be equally effective no matter
what the material on which it is i'm
pressed. The writer makes this point
plain and positive, subsequently, by
applying the same reasoning to the
paper dollar. He says very emphatic
ally that it is not the material that
cuts any figure. The material Of the
paper dollar is not worth one cent.
Engrave it and stamp it and you have
dollar just as valuable as one of
silver or gold.
What extraordinary trash this is TO
obtain lodgment in the mind Of anv
man capable of learning the multipli-
cation table, or Of distinguishing wood
from iron. To those who believe in it
there can be no sense Of righteous
ness in the demand for the free coin
age Of silver. Indeed, on this plat
form such measure becomes a crime
equal in it's detestable qualities to their
own conception Of gold monometallism.
For, if the stamp gives the value, there
can be no excuse or forgiveness for
the men who put that stamp only upon
silver, and thereby leave a majority of
our people INDECENT and disgusted,
when they might just as we'll stamp
billions Of reams Of paper and bits Of
cotton and scraps of any sort of mate
rial, turning it all into money, and
giving each Of us enough to keep him
in idleness and comfort for the rest
Of his days. The fact that otherwise
Intelligent people cannot see how this
argument of theirs consumes and de-
stroys itself is sufficient evidence Of
the vast amount that they still have to
learn.