The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-07-22
LET THE TRUTH Be HEARD.
HON. JOHN DAVIS REPLIES.
The Great Kansan Wipes the Earth
With q Knave.
He Replies to IN Article in 1.-THE Kingdom Of
Minneapolis, and They Refuse 70
Print It.
REPLY TO A. A. CRANE.

r
IL
REPLY TO A. A. CRANE.
Editor Of the Kingdom:
Dear Sir: One of your readers in Iowa
has sent me leaf from your issue Of
March 20, containing an article on the
currency question, by A. A. Crane, with
the urgent request that reply to 1t.
I have read the article through
carefully and find it full Of err
rors common to those who have only
studied the question from the stand
point Of the money changers and gold
gamblers, whose predecessors were driv-
en- from the temple in Jerusalem by the
founder Of Christianity; and, of whom
President Lincoln said, 'I wish every
one of them had his devilish head shot
off," (See Carpenters Six Months in the
White House, page 84..)
To answer all the errors in full would
greatly exceed your available space.
will, therefore, be as brief as possible, by
referring to some Of the more prominent
points only.
In the first paragraph the writer says
1T would seem that a careful consider
alton Of the conditions which surround
the issue Of q currency by the govern
men cannot but make the conservative
and thoughtful people feel that the prop
osition on the part Of some Of your cor
respondents for an unlimited issue of
fiat money unredeemable and of no in
trinsic value most unwise and danger
ous."
That is not only the doctrine but the
very language of the gold gamblers. It
reminds one Of the old shareholders ac-
cusink the abolitionists as favoring the
amalgamation Of races, while they them
selves were the only practical criminals
in that line.
In the first place, in careful study
of the finance question from all stand
points, for more than twenty years, l
have found no party in favor of an un-
limited issue Of paper money except the
British government, and, the great fund
holders.
During our revolutionary war the
British government sent over to Amer
lea whole ship loads Of counterfeit con-
grese notes. and they were officially
and extensively circulated by Generals
Howe and Clinton, and their assistants
It was the intention that the issues
should be Limited" in order to break
down the American finances, and thus
to defeat the cause of liberty. (See
Bolles' Finacial History of the United
States, vol, 1, PIP. $50 to 1857
Still ater, the same British govern
ment, authorized unlimited issues Of
counterfeit French paper money in or
der to break down the French finances,
and thus to defeat the revolution, and
sustain the Bourbon monarchy. It is
stated that there were in London seven
teen establishments, employing four
hundred men devoted to the manufac-
ture Of counterfeit French paper And,
this scheme was authorized by the Brit
ish government when VIM. Pitt was
prime minister.
See Doubleday's History Of Sir Robert
HirtOry Assignats and MOndats pp.82-3
There are other cases where large is
sues of currency were sent out, not with
any special purpose of breaking down
the finacial system, but for the profit of
the issuers The first case will mention
is that Of Napoleon Bonaparte who man
ufactured an immense sum of counter
felt Russian rubles to aid In sustaining
his army in Russia. (See Theirs His
tory, vol. 4. PIP. 1876 and ZIG, Lippincott
edition, 1869
AS second case of this sort I will men,
tion the currency of Argentina. The sys-
TEN was. established under the advice Of the
British f1nanciers on the coin basis plan.
The notes "were printed in London; they
were poorly done and easily forged" And,
continues Consul Baker, 1T was discovered
after time, that through trickery, there
were several millions more of this irre-
deemable paper money than there had
been supposed"
That fixes the charge Of forgery, but to
what extent there Is no means Of knowing.
It was too good chance to pass unim-
proved by adopts when the notes were
poorly done and easily forged" and the
dies were In their own hands. There is no
knowing how many ship loads of forged
currency came from London to Argentina.
but when it was loaned to the people and
to the government, It took the form OF gold
bonds, on which the people must forever
pay interest. Those same London finan-
ciers and their American friends now speak
in der.sion Of the financial experiment of
Argentina, and Of unlimited issues OF fiat
money" It is case of the thief charging
others with theft. (See u. S. Consular Re-
ports, 1889-90.)
As to an ''unredeemable" money Mr.. C.
Is also In erTOr. lie mas erected man OF
straw which he is pelting. There is no
party in existence now nor heretofore in
this country that favors an "unredeemable
currency" There is large and growing
party that is opposed to "coin redemption"
Of paper money, because they desire a
broader, better and safer redemption. They
believe that all money, whether metal or
paper, must be redeemed with value, in or
der to make It good and safe money.
For example. all money, whether metal
or paper, should be receivable in the reve-
nues Of the issuing government This is
primary redemption, and all monies so re-
ceived by the United States government has
uniformly been good money, whether coin
or paper; and the paper so received has
usually been preferred to CON- (See Pres
ident Hayes, Message, December 1879
Then, In addition to rece.vability in the
government revenues. all monies should be
endowed with the quality Of legal tender.
A money 50 endowed by responsible gov
ernment will be eagerly redeemed by all
the people with all the values they have for
sale. The money viii thus rest, not on the