Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1896-08-06
MARKHAM, Wash, Aug. 4, 1896

EDITOR ABERDEEN HERALD:
In your last issue you make mention
that would have preferred some OF the
planks OF the Democratic platform as
framed at Chicago to have read differ
emily. Upon the principle that half
loaf is better than none" I shall bow to
the actions Of the majority, and acquiesce
therein. You were present at our last
county convention held in Montesano,
and my address upon the state OF our
national currency was in this wise
cat the present juncture it behoovcs
one and all Of US to make diligent study of
the pecuniary status Of affairs, and in line
with this idea, I have two propositions
which l wish to place before you; each OF
them is suitable to insert as a plank in
the state and national platforms OF our
party. The first requisite is that our gov
eminent should forthwith abstain from
the banking business. !or one OF our pres
ent curses in the financial system is the
constant recurring treasury note-that
owing to legislation having deprecated
the value Of silver, these notes must be
redeemed in gold. l say these notes
should be burned as fast as they are re-
turned to the treasury. Let the banking
business of the nation be operated by tire
private banks, and let them be the de.
positories Of government money-funds,
inf 1ooI.
housekeeping similar positions to that
of the banks OF England and France
both private institutions. 1t is not right
or proper for any government to be in
the banking business, unless paternalism
is advocated; let the people act for that
purpose, as the government is for other
purposes.
"The remaining proposition that have
is the urgent need for an extended supply
OF pecuniary means for the masses of the
people Of this nation, which can be pro.
cured by the monetzation o. silver. |
feel confident that after an observation
afforded me through travel and settle
ment in various countries, that an allevia.
ton Of our troubles and misfortunes is
the desidsratum Of the hour, and silver
will be the panacea. And if a ratio must
be formed would have it conform to the
current market value OF the silver bullion
for the day, as an instance of mode of
operation. Have the government open
the mints forthwith to the coinage OF
silver bullion and make payment thereof
to the owner in silver coins only less the
cost OF mintage-at the market value OF
silver bullion for that day-the same
way precisely as is done daily with gold
bullion. The seller of the white metal
will then in his daily routine OF business
circulate this silver coin-that originated
in the dark chasms OF the earth For,
with the vast increase OF our commerce
OF late years, it is self evident fact that
the amount OF money in circulation has
not kept pace wish equal supply, or in
the same equation. This is a primary
necessity which all political economists
OF the modern school dwell very strongly
uPOH' AHc cuucdVOT HluSt NC i1auc 10
bring into common circulation the two
great mediums Of exthange-gold and
silver-then by degrees uniform stand.
ard Of value can be attained. Today BIZ
metallism should not be spoken OF as a
fad for there is in its favor a co-opera-
ton of theory and experience such as no
other economical doctrine ever received.
The present system Of pecuniary currency
is manifestly absurd, violating as it does
all the advantages OF our natural elements
OF wealth and prosperity; and it is the
height of folly to prolong any further the |
isolation Of the distribution of silver"
The foregoing were nay remarks, if you
will remember, and have no hesitation
in predicting that owing to the strong
probability Of the diverse political com.
plexions OF the occupants OF tho next con-
eress, that the legislators there assembled
will be only able to agree to enact law !
on behalf Of silver upon similar basis
of monetzatiOn.
EDMUND CaoFT.