The Progress., 1896-08-15

cents IN change. once 1t aCtUaily 'ooN
| 28J coined cents to buy gold dollar
| The representative value Is the nam
| thing in money; primarily the value
was in the money when little confl-
dence existed between man and man
and barter was kept in view and a con
Ceived equivalent was demended on the
spot, but as confidence grew by the
sustaining hand of law the representa-
| tive value Is the main thing relied up
on. We have OuigroWn the time or
running our money up into spoons or
| jewelry ITO get our money out or 1t.
Bankers understand this representa-
tive feature. hence their "phiian-
thropy" in wanting to create all the
paper currency themselves, and not one
is obliged to pay gold on their demand
notes on which the banks realize inter-
est on their own promises to pay.
AS DR.. Benjamin Franklin also in
vented a stove ! will quote him:
Cold and silver are not intrinsically
! Of the same value as iron their value
rests chiefly in the estimation they
happen to be in among the generality
of nations. Any other well-founded
credit is as much an equivalent as gold
and silver. On the whole, no
method has hitherto been a medium
of trade equal in all its advantages to
bills of credit made a general legal
tender"
Mr.. Atkinson intimates that solver
barons" are interested in freesilver
literature to boom silver. Well, now,
honor bright. is it not automatic that
the higher silver bullion blooms" up
toward 100 cents, its face value, the
more honest the bullion in the dol
lar becomes? sometimes think these
excessive honesty" folks give away
their argument in their denunciation
of silver miners. 1t is scarcity rather
than honesty" that the single-gold
standard folk want-gOld for "ulti-
mate redemption 1t would be clear
err to the average mind If they would
say remote redemption.
THE MILK IN THE COCOANUT
Is in the accumulatiye power of COM
pound interest. One great writer eX-
claimed over a compound interest ia
BILE: "One thing that astouishes me
is that the deadly fact that lies buried
in these tables has not deyoured the
whole race
If when Christ was born Joseph had
taken 81 down to the money changers
} and improved it at 4 per cent in
5 terest, compounded nineteen centuries
+ 1t would amount to over 22S nonllion
dollars. thirty-three figures in line
10 express 1t. or, In other words, over
+ $1,000 spheres OF standard gold the
size Of this earth. | dropped several
J worlds for the breyity of round num-
, bers. Or it would equal string OF
= gold worlds to the sun and quarter
$ of the way back. Where are you go.
{ ing to get the gold or the silver. either
, What does this array of figures
D teach? This The heavy fgndholders
like the Rothschids have learned this
= deadly fact, the accumuative power
i of compound interest. They may oc
@ Casionally assent to take their inter
s est in currency that they can turn il
{ the market for more bonds by 'con
Il sent of parties but when it comes I,
S the principal. the goose that lays TIL
Y coupon egg, they stand back on thei
y legal rights ''-nothing but absolute
II legal-tender money-whiCh they con
!? spire to limit to geld alone. so relative
Il ly scarce as to postpone indefinitel.
e. the payment CT the principal-force
# refunding- rrystallize and per
e petuate bonded debts on all good. IN
Ii dustrious, tax-paying nations in tn
" civilized world 1t is longtime IN
n vcstments for their unwieldy fortunes
l. What protects longtime investments
IS largely created with paper credit cur
If rency? The pitiable superstition
.e that nothing can be absolute lega
IS tender save scarce gold under the dis
guise Of a single standard. SO scarce a
% to force refunding instead oil paymen