Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1896-08-27

JAMES,
value. The world has found by the e.
per,ence OF Thousands OF years that gold
ana silver are best adapted for use 90
money, or ss measure Ut values, and
We do not use wheat for such purpose
for the same reason that man does not
eat Rrsss; it is not adapted for bis use.
In the article above quoted from, Mr..
Wells also asks, Why should not bankers
know more about the money question
than farmers and day laborers.
The American people are not facing
tho question OF how to run bank. It
would be q much smaller question If
this was all there was to it. I do not
know that the business OF banker gives
him exclusive information or experience
which better fts him to meet great
governmental question. A
banker sells the use of money for q profit
just as "ooffee dealer" sells coffee for
profit; one may be just ss we'll fitted, as
far as his business experience goes, to
meet this question as the other.
Mr.. Wells complains because there
seems to be some prejudice against the
banks. There are many men in this
country who believe that the great for
eign bankers are responsible for the IN
ception of legislation, the aim Of which
was to curtait the amount per capita Of
the redemption money OF the world.
The American banker perhaps had no
part in the origin Of this scheme, but he
has pretty generally fallen into it. Then
it looks very much as if the depletion of
the United States gold reserve may be
largely ohargeable to bankers. At all
events bond issues have been forced and
enormous sums OF money placed in the
pockets of the syndicate OF bankers who
handled the deal, and who guaranteed
that the withdrawal Of gold from the
treasury should cease for q certain
length of time. The temper OF the peo-
pie, as far as further bond Issues are con.
oerned, has been correctly interpreted
by the members OF this syndicate, and
therefore it is PLAIN that there will be no
further need for another bond issue
until after the election. H.
~
Editor Alert-Hsving noticed in The
Alert of last Friday the criticisms Of Mr..
Wells communication in the proceeding
issue, signed e." and finding no answer
thereto in your issue Of Saturday, will
you accord me brief space for reply to
certain parts of that criticism.
"E" says "there is no law which gives
to the silver dollar any guarantee ex-
cept its legal tender, debt paying power"
Perhaps there is none enforceable or,
from the standpoint of the free coinage
advocate. binding upon the United
States. But to the world it has seemed
ss If the honor Of the nation vas pledged
in the declaration Of congress, voted for
by all parties and confirmed by the
signature Of the president.
1T Is hereby declared to be the policy
Of the United States to continue tho use
Of both gold and silver a. standard
money and to COIN both gold and silver
into money of equal intrinsic and ex-
changable value, such equality to be
secured through international agree
ment, or by such safeguards Of legisla-
tion 90 will ensure the msintainance Of
the parity in value Of the coins Of the
two metals and the equal power OF every
dollar at ell times in the markets AID
in the payment Of debts"
In that resolution our government has
said to everybody, "Ro on with your
business; coll, buy, lend, borrow. Don't
worry about the money paid or reoelved;
Uncle Sam will sec to it that it shall be
good always and everywhere; a true
measure OF value 40 men understand
such measure all over the world. You
have the pledge Of honor OF the Ameri-
can rstlon! You shsnt be cheated,
you shan't cheat! And to this day Uncle
Sam has seen to It; and for all purposes
in the markets silver dollar is Of equal
value with gold and, for any fair pur-
pose, is exchanRable with gold.
Free coinage would dlsplace Uncle
Sam as sponsor and substitute the
bullion owner who would take his silver
to the mint, (not Uncle Ssm's) II his
would be good, and it he would
give it, then his silver dollars might be
as good as gold dollars. Otherwise a
practical world would laugh at his pre-
tence that they were worth 100 cents.
Uncle Sans guaranty is one thing; that
OF the fraud begetting silver mine owner
is another!
"E" says the government would use
the silver dollar for it's 500. millions Of
annual expenditures. Yes, 1t would
have to; and meantime it.would cheat Its
creditors under contracts existing when
free coinage should 60 into effect, unless
indeed, silver should become worth $1.29