New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-10-11
AN ARTICLE BY HANNA.
THE NATIONAL CHAIRMAN WRITES
ABOUT MONEY. GOOD AND BAD.
HE DECLARES THAT THERE Is ENOUGH CTRcU-
1ATING MEDIUM IN THE COUNTRY. WHICH

HE DECLARES THAT THERE Is ENOUGH CIRcU-
I.,TING MEDIUM IN THE COUNTRY. WHICH
WILL THRIVE AGAIN UNDER MKINLEY.
Cleveland, Oct. iO.-Over the signature Of ". A.
Hanna. chairman of the Republican National Com
nittee THE Cleveland Press" Of the Scripps-M Nc
Rae League, to-day publishes two-column ar
tcle OF which the following Is digest:
As far as | have been able to learn. the object
used as medium Of exchange among primitive
a. well as modern people has always been an ar
things that served as moaey-cattle curousy
wrought shells. wampum. peltry. tobacco. wheat
coveted them Their value was always estab-
Iished by the common-sense of the people, and not
passed law declaring that round Of the best TO-
an effort to fix the value Of none BY law and it
failed The colonists at once went to work raising
money volume that it deprecated in value. and 10
bring back its purchasing power mobs went about
In modern times law has been poweress to regu-
iSie the value "f money except as II restricted It's
cents all over the world. coined uncoined. The
coined and supported ny the Intention Of The Gov
eminent to hold il at par. which it only do by
was not made oy any legislative action: II was
t brought about by a business law. which makes a
Gold has gradually come to be the principal
me nr OF properly N the greatest nations OF
Only commodity which civilized man pursues with
varied uende Of mans desres to Obtain To Sis
pose Of 10 possess and enjoy, ard the facility to
accomplish his purposes by the Of gold gave
that metal its pos. don unit Of value All the
law did in declaring gold the standard 10 rec
ogrize m existing fact. History teaches that
the cheaper metal will always drive ont the dearer.
ana under fire" coinlsc we would soon be on a
rnononctallic silver basis. necessiating change
OF values ana their readiustrnent with every in
crease IN the volume of money. This question is
purely OF business nature, and its decision should
be left 10 the business judgment Of the people
Statistics received a. the United States Treasury
Department show that in he city OF New-York 81
or silver paper money, hut with checks and
notes, and that - per cent Of the business OF the
Nation is done with such paper The OF this
credit system Is increasing. and inevita bile
consequence the need of metallic money Is
inE
We have enough money in circulation. The
New-York World Almanac of 1895. page 100 gives
our per capita circulation at 81 - An examina-
ton of statistics Mil show that since 1850 PER
capita circulation has ranged from SIS So in that
year 81 % I'm 1861 $40 % I'm 1862 gradually
ing 10 81 Sc Sl9 81 t21 -. falling SIS % In 1896
remaining almost stationary a. that figure until
N5, when IL fell TO BIZ TO- falling SIS in ls77 and
1873. rising 20 goo - in 1852 and gradually climbing
up 10 go S23 S2i and the present figures There is
no danger Of the country suffering from lack Of
money.
Restore confidence by diss!pa; ing the free-silvcr
scare; restore the doctrine OF reciprocity. restore
the protective tariff system. under which this
Try mas enjoyed lis greatest prosp riy, and there
VIII be no complaint 81 lack OF money The re-
turn Of prosperity Will come with the return OF
the Republican party 10 power.