The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-09-19

treme. Ii is hard TO see why so many
people should take it so seriously.
There is money enough in the country
II is too bad that IL is not more evenly
distributed. 90
When we talk of $1,000 or s2o'oo
per capita, great many people say ~
Is insufficient. IL it WIS $40 or $50 per
head everybody would be better OH.
How large a portion of the population
think YOU, would come in for the IN
crease?
The l.ulk of II would go to the very
neople who have the bulk of the money
and property to-day.
Just SO with increase OF currency
from the free and unlimited coinage OF
silver.
The need of the hour is not an expan-
sion OF the currency, but ways, means
and methods 20 turn some OF the money
already I'm circulation into the pockets
OF the people.
Are we not right?
We have been swelling the per capita
from year TO year. but IL takes great
deal more than per capita TO insure
prosperity.
The trouble with our opponents Is
that they confound and confuse the
contraction of currency with contrnc-
ton of credit. The business OF this
country, over % per cent. OF II, is trans
acted on credit, with less than eight per
cent. represented by the actual cash
Hence il follows that when credlt is
impaired. as has been the case during
the pas. two years, financial contraction
and depression are inevitable.
The threat of the injection into our
currency OF mass of 5o-cent dollars had
much to do with this dismay.
1t is a constant menace to the pubic
credit, and a fruitful cause of debauched
finances and interrupted traffic.
But suppose we get free coinage, what
effect will il have on the circulation?
We shall not stop to tell you of ITS
effect ia driving S67s,00O,OO0 OF gold
to a premium, and out of circulation, Us
well as the retirement of $375,000,cOt
of greenbacl<s and treasury notes.
How much would free coinage OF the
white metal add TO the circulation? MOI
to exceed Sl2,00o,000.
Who would get IL? The people2 Tel
me how they would get IT,
The Inillionaires would get IL, who
would then be able to demand one dol
lar of Uncle Sam for so cents just "a
long rs their bullion lasted, and thcil
mines held out.
Per capita deductions drawn from
| i. ~. N -, ~, ell 1inU
1t is impossible to tell what the pc
capita circulation of England, France
, or Germany is. for the reason that thes
countries use metallic circulation, an'
the use of checks and bank notes /
unknown.
The Argentine Republic has a re
. capita circulation of over 500, but tina
country is suffering from financial jim
, Jams" CT the most distressing descriI
! ton.
Behind the large per capita argumcn
is the fond fancy THAI by some financia
, iugglery, which has never been eo
planned the people will get more none
without being bothered to furnish a
equivalent.
Back of IL all turks the pet theory G
the financial romancers that the govern
! ment can create money anyway
there is no reason why IL should r'
fuse TO hand over to the people ad lib
, tum.
. IL the government can create monr
,, by it's stamp, by its stand mp and sa
so, why levy any taxes? Why rais
. money from the people 20 run the go'
: eminent.
!. If tho United States government en-
: say that so cents worth Of silver shn
be a dollar, why waste so cents wort
OF the white metal? Why not let it &
I, at 10 cents worth?
. Why put any silver imp
I. Why not fiat piece of paper?
Why not abolish taxation altogether
Why not support the government
why not support the people by none
II manufactured by the best goyernmer
on earth!
, Why not have per capita that wi
!, razzle dazzle any and all efforts in thu
direction this grim and gray old worl
p has ever seen?
; The currency OF the United States
. 1895 amounted 10 500 and fraction pt
capita. But the banking facilities I
r. the United States far exceed those
). any other country, and the use of checl
. and drafts Is more common with US tina
IA any other nation.
N The truth is, contraction OF cred
= Is far more fruitful source OF dang,
e than n contraction OF currency. WINS
you strnngle that, no matter how lart
your per capita may be, the curtain
Z: rung down on prosperity.
81 That, in my humble judgment, is Il
. secret Of the situation that confron
IL this nation to-day.
y Shall we shut our eyes 10 history nj
stop our ears 10 experience?