The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-09
EDITOR SMITHS ADDRESS.
What the Newspaper should Teach i'm
the Campaign Of Education.

non. 1HdTl6S OIlltn, III the course
Of his remarks, said:
The intimate connection between politics
and Journalism suggests the thought of the
hour. This is pre-eeminently campaign of
education 1t is thus peculiarly orr cam
paign. Tie journalists are the real educa-
tors. A thousend men hear million len
read. 1t is true there are great textbooks
Smiths Wealth Of Nations with Amer-
can applications; a new BunyalI's Pilgrims
Progress through the slough of despond
of democracy and up the hill of difficulty;
a new Bakers Saints Best, under assured
Republican restoration The other titles of
ley's complete political economy of Open
Mills for Full Labor, Rather Than Open
sons 'Satirical Reflections the Absurdi
ties of a Boy Orators Idea of lndepend,
Of the ! Law Of ns an of
Political Philosophy But the old text
books are expoHnded by the professors iii
the classroom. and so the new textbooks
are edited with notes and index and daily
elucidation by the schoomasters OF jour
nalism
must educate the people in elemental prin-
ciples. We must educate them to under
stand that we cannot have two standards
of weight or length. In our modern civill-
cation the function of money as a measure
function a medium of exchange. Our
exchanges aggregate sixty thousand mil
lions year but our money in circulation
is only fifteen hunderd millions The bulk
of the exchanges is effected with checks
and other instruments of credit. 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 on the integrity of
that dollar unit. You can make a yard
stick of wood or of ivory, but they must
have the same length You can make
dollar of gold or silver, but they must have
the same value. You sell cloth and meas
the quantity in yards; you pay and
measure the amount in collars, and whether
you measure in half yards called yards
or in fifty cent dollars called hundred-cent
dollars, the transaction is equally fraudu-
lent and dishonest. Our existing standard
of value is the hundred-cent gold dollar;
free-silver coinage would make our stand
ard the fifty-cent silver dollar and that is
the reason Why it would be a crime of re-
pudiation, dishonor and disaster.
CANNOT MAKE FIAT MONEY.
eve must educate the people that gov
eminent fiat cannot make money. The
government stamps, weighs and certifies,
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 redeem in real money. The
gold dollar is real money because it is
worth 100 cents whether coined or melted
The paper dollar is representative money
because it is simply promise to redeem
in real dollar. Its value is not in the
stamp, but in the fact that the stamp
pledges a real dollar behind it, The pres
ent silver dollar is partly real and partly
representative. 1t has 81 cents worth of
value and 4S cents worth of faith-faith
that the government will fulfill its pledge
of keeping it at a parity with gold. The
proposed silver dollar, under free coinage,
would be neither real nor representative.
1t could not say even with the paper dol
lar L know that my redeemer liveth for
there would be no redemption; and without
redemption its value would sink to its bull
lion value of % cents. We want neither
cheap dollars, nor cheap men, nor cheap
Presidents.
I'VE must educate the people that poiti-
cal Independence is one thing and indie
pendence of the laws of trade and nature
is another The most Duerile and gro
teSQue idea even of the Boy Orator in his
repeated and pet notion that because this
country declared political independence of
Europe in 1776 it ought to declare an indie
pendent monetary standard in 1896. He
seems to think that we ought to have d
distinct American measure OF value be-
cause have distinct American meas
ure of liberty. We can have american
geography because our rivers and noun
tains 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 hundred in the United States
any more than in Europe. We can have
political economy is partly IL matter of
conditions, and our conditions are different
from those of Europe but we cannot have
an American algebra, because algebra Is
not experimental. but an exact science
In algebra X represents the unknown
quantity, and thus II represents Bryan
after the election. and not even the *
rays will be able to disclose his scattered
and shadowy remains. distinct Amer
lean measure of valUei Why not have dis
tinct American measure of length? Why
not have an American yardStick different
in length from the English yardstick?
This talk of an independent measure shows
a callow and shallow mind. Do not
want commercial relations with Europe?
Do we not seek to extend our trade? Then
why do we not want 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. Ma
lions and individuals cannot close out with
the world enc transaction and quit
They must keep uD the account and for
every act of fraud they will pay double
the next time. We are against the emigra-
ton 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 the pitchfork of Tilman.
I'VE teach unceasing lessons OF patriot
ism and rectitude and must educate the
people TO maintain the national honor as
sacredly as they maintained the national
life. and to be more ready in 1896 to
cut in two the standard of value, which is
the basis and measure of all business Sc
curity than they We're in 1861 to cut in two
the Union which is the basis and measure
of our national greatness and glory.
I'VE are met at the aome OF the great
patriot and statesman, the boy soldier, and
the man orator and leader, who, by an
erring choice. is ntly made the standard