The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1896-03-07
MILLS. MAGMA cHARTA.
Seven Declarations of Financial Lu-
macy.

Seven Declarations of Financial Luz
Senator Mills has drawn up what
may properly be described as Magma
Charta of financial lunacy.
1t consists of seven declarations.
The first is against retirement of
outstanding legal notes. This means
that these notes are to be perpetually
redeemed and perpetually paid out
again, which is the same thing IS if
/ man owed another dollar, and when
his note was presented paid it and hand
ed 1t back, saying to mis- creditor:
"Bring it again and will pay it again
and again." and SO on until the lunatic
owing the note, but not destroying it
when paid the first time, was duly ac-
companied into court of bankruptcy
rs preliminary to an asylum for intel
lectual imbeciles.
| The second declaration of Mr.. Mills
Magma Charta of financial lunacy IA
vors the coinage of silver bullion. This
is equivalent to saying that if you put
q symbol on so cents worth of silver
1t will make it dollar of money, which
hitherto has been found impossible
among the powers of the earth, and is
going to continue to be impossible in
this country until jails shall be pro-
vided to immune 100000 Americans
now at large; who, so long as they are
at large, will be incapable of under
standing how so cents worth of some
thing can be a dollars worth of money.
The third declaration of Mr.. Mills
Magma Charta of financial lunacy is is
suance of emergency legal tender notes
In case OF a deficiency. This is equiva-
lent to "a mans scattering more prom
iscs to pay among his neighbors when
they refuse him accommodations at
the grocery and the butcher shop be-
cause they know he has nothing with
which to meet his cloud of similar
promises to pay already out.
The fourth declaration of Mr.. Mills
Magma Charta of financial lunacy is
against Understanding bonds. This
means that the fifth amendment to the
constitution of the United States shall
be vacated: 'Nor shall private prop
crty- be taken for public use without
just compensation" or else that the
second part of section eight of the
first article of the same shall become in
operative: "The congress shall have
power to borrow money on the
credit of the United States"
The fifth declaration of Mr.. Mills
Magma Charta of financial lunacy is ito
establish policy of the United States
in paying obligations in both gold and
silver" which means that silver, worth
half as much by the dollar as gold, shall
be forced upon some creditors, thereby
robbing them and inaugurating repudi-
alton on so per cent. basis, or that
Mr.. Mills has an herb or amulet or fet-
ish or rabbits foot in his pocket by
which creditors of the United States are
to be bewitched into thinking so cents
worth of one metal equal to one dollar
of another.
The sixth declaration of Mr.. Mills
Magma Charta of financial lunacy de-
clares public debt not a public bless
ing, which it certainly is not when SEN
otors of the United States will be found
anxious to tell a nation pay what thou
owest, but at so cents on the dollar"
The seventh declaration of Mr.. Mills
Magma Charta of financial lunacy is Gin
favor of the rapid extinguishment of
The national debt" which is directly at
variance with the first declaration
against retirement of the outstanding
legal tender notes. How can the debt
of the country be extinguished if its
notes are not cancelled when redeemed
end paid? Could inconsistency be more
incoherent?
This is indeed Magma Charta of
financial lunacy. If its monetary pro-
posals could by any evil chance become
law the United States would be with
in month thereafter a financial bed
lam. The lunatics would dance as is
the way with those whose wits are ont.
The sane would have to pay the piper in
national bankruptcy, and with the sal
vage from the wreck start out again
in the business of government, having
meanwhile retired law-breaking mad
caps from Legislative precincts into
prudent restraint
AS for honest and sane men, there is
sounder counsel in the original Magma
Charta. It is: There shall be one
standard Of measure throughout the
kingdom. Chicago Times-Herald.
ANTl-SILvER STRENGTH.