The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-05-13

EDITOR Representative:
The purchasing power Of money IS the
great principle now in issue. Some say
the higher Is most desirable. Well, that
is found in China and generally throughout
the countries Of the oldest civilization and
lessons throughout Europe, and least in this
country. In the former countries, an able
bodied man gets about Ave cents per day
wages and with 1t procures the support Of
himself and family. Here the wage Garner
or the labor products IS from so cents to
$3.50 per day and the purchasing power of
the money realized is about the same as the
S cents Of his Asiatic ne:ghbor. What de-
termines the result? Is it the use of gold
alone or Of silver? No, but it is the number
of the units Of money per capita in circula-
ton. China has about y cents average per
inhabitant, and there Is gradual rise in
the various countries until we are reached.
Here by various estimates we have from So
to $18 per capita circulation. Whittier are
we tending by force Of the present admin
stration or the prospective, in the false
honest money declarations? Surely it ID
towards the European, Asiat:c and Oriental
conditions
Newspapers report that United States
free coinage of silver would reduce the pur-
chasing power of all dollars one-half"
That is true and applies to both gold and sill
yer, coined or uncoined. He also said
chat the debtor paying his debts under
free silver coinage will cheat the creditor
out Of one-half of the debt That would be
true tlso, If the Indebtedness was incurred
under the use of gold alone as money. The
silver inf1ationist for the reservation from the
demonetizing crime of 1873, are charged
with being against honest money, and that
they involve dishonor and reputation.
Don't whisper word about the sacred cal
amity maker, but where is the calamity
bowler that complains Of?
7 Quoting Sherman again that the contrac-
ton OF the volume OF money one-half
doubles the debt upon the debtor, without
giving him an opportunity to compound
with his creditor" When this is in opera
ton, present or prospective, it produces a
fall OF prices as surely as temperature of air
affects the rise and fall Of mercury, and wa
have it In effect today. Still our would be
advisers assign the effect to every cause
but the true one, that has the largest eff
feet, in producing want of confidence or
assurance of profit in investments for pro-
duct.ve enterprises, which may give en-
ployment and stimulate demand by the
ability to buy products now desiring remu-
nerat.ve markets. Many say they favor sill
yer by International agreement. Even if
that could be done, which never has nor
will be for any money. Yet we are offered
the counterfeit logic that though the use of
silver is dishOnor and reputation, yet #
others WI join with us in the cheating pro-
cess, 1t will thus be made honest. Money
being national and not international, what,
possible interest can any other nation have
in what is our money? If our money IS
good at home it is good abroad, but never
money abroad. Trade is between indi-
viduals and according to specific contracts,
and stimulate bysupply and demand for all
products. Let us as people or govern
ment pay our debts according to contract
nothing more, nothing less. The Republi-
can platform, the last presidential cam
pa.gn, said "hold to the use of gold, silver
and paper, all to be standard money, equal
in debt-paying power" Those are my sem
timents and I shall vote for that principle
wherever can. Did either the Republican
or Democrats mean what they said? Guess
not. Let us await their next declaration
Will it be straddle? Shall It hit it # deer,
or miss it II calf? Shall we have god
alone for our money? Or shall we have
currency, without full, honest, mandatory
debt-paying power; like our bank notes
etc. Honest money is money that is full le-
gal tender, no matter what it is made of
%. H. Page.
Pleasant Grove. MINI.