Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1896-09-25

| lluEDlt ~ DC p''l VII OAC oANN s<AA>A wv
pounds Of iron on the other and agree
| to hold those scales level with MS
strong right arm and we might belleve
he could do it, but If he said put "0ot
| pounds of marble on one side and al
the iron in an iron foundry and all the
iron you can haul in from anywhere
on the other side, and will still hold
the scales level, without the aid OF
! consent of any other strong man. we
| would conclude that he was either q
! fool or was playing us for fools. More
than that, If we owned that 6WC
pounds Of marble we would want to
| take it away from him before he
| dumped it into the mud with his bonn
bastic Juggling. That marble may
represent the gold money, the iron the
silver money and the strong man the
United States government. Begin the
Populist jugglely In this nation and
see how quickly the owners Of the gold
will hide it. BY the way, how much
gold do you get now in the general
business Of to-day-since this Popu'
listic silver agitation is rampant? How
much? Stop and think when was 1t
you saw q five-d0llar gold piece last:
Indirectly Rcdcemable.
"Rut If the silver dollar is equal to
the gold dollar now, can we exchange
it for gold? Is 1t redeemable in gold?'
eyes and no. Silver money now Is
not directly redeemable. Why 1t Is &C.
cepted in lieu Of gold money in Ordi-
nary commercial transactions Is eX-
planned above, but aside from that
there is a roundabout way in which
it can be exchanged for gold. You can
take your silver money to a bank and
get legal tender United States notes
for it and these notes presented at the
United States treasury will be paid in
gold IL you demand it, not because of
any specific law to that effect, but in
pursuance of the policy of our present
and past administrations to make no
distinction between gold-and silver and
to pay public debts in either metal
which the creditor demands. But the
free silver administration would stop
that Immediately, because there would
at once be an unlimited amount Of the
silver dollars current and tinanciers
wond quickly exchange the 53-cent sill
yer dollars for all the gold, and gold
would disappear to be boarded and
sold at a premium.
All Credit Has n Limit
The government is only the individ-
ual magnilicd. The same principles
that apply to you individually on a
small scale apply to the United States
government on a large scale-the prin-
ciples are identical. Now a promise
is good for nothing whether made by
you or by our government unless it Is
backed by two principles, viz: First,
ability to fulfill the promise; second,
honest intention to fulfill the promise.
Suppose it were known that you had
$4,000 in safety deposit vault,
would you not be able to take bit
of paper or tin or single and write
on it, II promise to give five dollars to
the holder OF this Tomorrow" and
would not your written promise be
accepted by your neighbors who know
your honesty and know of your 10000
in payment for potatoes or other mer-
candisc? But then when you found
that your writing on a scrap Of paper
or tin or a shingle made that so that
it would be taken in exchange for IS,
II you then should proceed to write
5000 on similar scrap, that, too,
might be accepted, although not so
readily, perhaps, but ticn if you wrote
enough of those scraps to exceed the
$4,000 in your safety deposit vault or
in your drawer at home, would they
still be accepted? What was it which
made your promise to pay" good?
and your known honesty? Ability
without honesty is valueless for that
purpose; honesty without ability is
valueless for that purpose. Now the
present silver dollar Is taken just as
your scrap Of tin might be accepted
not because its own value is equal to
the amount it calls for, but simply be-
cause of the promise it bears through
the policy Of the government to main
tain the two kinds Of dollars on par
ity which declares that the govern
ment will exchange it for gold (when-
ever presented through proper chan
nels) or accept it In payment of duties
the same as gold; hence the promise
makes it as good as gold. But the free
silverites say, let us repudiate that
promise, let us turn out as many such
coins as we can find metal In all the
world to put the coin stamp on. That
is free coinage Of silver. They cannot
be redeemed in gold, but everybody
will have great many of them and
SO we will all be rich (O.
Benefits Only Bullion Spectators
and Regulators of Debts.
Will everybody have a great many
Of these future silver dollars? Surely
not, unless they produce the bullion to
make them. The government Is not to
agree to furnish the material free, It
only is to agree to lie about the value
Of that material (the bullion) which
you or the other silver mine owners
produce. The alleged 'crime of 1872
was the passage Of law which
stopped bullion owners from taking
their bullion to the mint and having it
coined (free) as farmer used to take
his grain to mill and wait for 1t to be
ground into meal and then carry 1t
home to eat.
As mater Of history, however, II
should be stated here that while from
the foundation Of the government up
to 1878 only $S,O31, 239 had been
coined, yet since then the government
itself has coined and put into circula.
ton $554,142,477. Hence the "crime
Of 1873" consisted in preventing pri.
vate bullion owners, thereafter, from
robbing the public and it enabled the
general government to buy silver al
the market price and coin 1t on its