The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-10-10
HANNA TALKS COL D.
Republican Leader Clearly
Expounds the Nature
of Currency.
MUST HAVE VALUE BEHIND IT
Canton the Mecca of Five Del
egations Of Voters
Today.
CLEVELAND HEARD FROM
Earnest for the Sound Money
Cause But Propriety Forbids
Political Activity.
STATE AND COUNTY CAMPAIGN
Meeting of the Democratic Cem-
mittee Last EveniBg-Nomi-
nations In various Places.
CLEVELAND HEARD FROM
STATE AND COUNTY CAMPAIGN
Meeting of the Democratic Csm-
mittee Last EvenfDg-Nomi-
nations In various Places.

CLEVELAND, Ohio Oct. 10, 1Ss6.--Oyer
the signature of Chairman NJ. A. Hanna,
Of the Republican National Committee,
the Cleveland Press of the Scripps-
MeRae League, publishes a two column
article today, of which the following is
a digest
As far as I have been able to learn the
object used as medium of exchange
among primitive as well as modern peo-
pie has always been an article of value.
or was believed to, be So The first things
that served as money, cattle, curiously
wrought shells, wampum, peltry, tobac-
co, wheat. ali had their value. otherwise
men would not have coveted them. Their
value was always established by the
common sense of the people and not by
the law. The Legislature of Virginia once
passed law declaring that a pound of
best tobacco should represent given
sum. Here was an effort to fix the value
OF money by law, and 1t tailed. The coll
onists at once went to work raising to-
bacco on large scale. they so inflated
their money volume that 1t deprecated
in value, and to bring back its purchas-
ing power mobs went 2bout destroying
tobacco plantations.
In modern times, law has been power
less to regulate the value of money, ex-
cept as 1t restricted its coinage or issue
The gold in dollar is worth 100 cents
all over the world, coined Or uncoined.
AhS S4if CT ia q dOllei ~ WOTlu only 0o
cents until it is coined and supported by
the intention of the government to hold
1t at par, which 1t can only do by re-
stricting its coinage. This difference in
action; it was brought about by busi-.
ness law, which makes a thing worth
what it will sell for
Gold has gradually come to be the
greatest nations of the world. It is ac-
ceptable as such because 1t is the only
commodity which civilized man pursues
Win the most perseyering ambition. The
to obtain, to dispose Of. to possess and
enjoy, and the facility to accom-
pfish ms purposes by the use
did in declaring gold the standard was
to recognize an existing fact History
teaches us that the cheaper metal will
afways drive out the sdearer, and under
Ires coinage we would soon be on mon
ometaliic silver basis. necessitating a
change of values and their readjustrnent
with every increase in the volume of
money. This question Is purely of a
business nature and its decision should
De left to the business Judgment of the
people. Statistics received at the United
states Treasury Department show that
the exchanges are not made with gold
or silver or paper money, but with
checks and notes, and that 95 per cent
" tiiS puSiHcsS OF tne lndtiOn is done with
sucn paper. The use of this credit sys-
tenn is increasing and as an inevitable
consequence the need of metallic money
is decreasing.
We have enough money in circulation.
An examination of statistics VIII show
that since 1860 our per capita Circulation
has is, = ranger from s15.S5 in that year to
sl4sS IN 1851, sl0;2s. in 1862, gradually in
$3.50 In 1856, remaining almost stationary
at that figure until 1875 when 1t fell to
$lTlS falling to SO in 1877 and s18.7S, rising
TO WI in 1882 and gradually climbing up
to 62, $23 s24 and the present figures.
There is no danger of the country suf
fering from lack Of money. Restore con
noence by dissipating the free silver
scare: restore the doctrine Of reeinronity.
restore the protective tariff system. under
which this country has enjoyed its great
est prosperity. and there viii be no com
paint 81 lack Of money. The return of
prosperity will come with the return of
the Republican party TO power"