The broad ax., 1896-09-05

cents in change Once 1t actually took
2S5 coined cents to buy a gold dollar.
The representative value is the main
thing in money; primarily the value
was in the money when little conf
dence existed between man and man
and barter was Aept in view and con-
ceived equivalEnt was demended on the
spot, but as confidence grew by the
sustaining hand of law the representa-
tive value Is the main thing relied up
on. We have outgrown the time OF
running our money up into spoons or
jewelry ito get our money out OF Il"
Bankers understand this representa-
tive feature, hence their "philan-
thropy" in wanting to create all the
paper currency themselves, and not one
is obliged to pay gold on their demand
notes on which the banks realize inter-
est on their own promises to pay.
AS DR.. Benjamin Franklin also in
vented a stove l will quote him:
Gold and silver are not intrinsically
of the same value as iron; their value
rests chiefly in the estimation they
happen to be in among the generality
of nations. Any other well-founded
credit is as much an equivalent as gold
and silver On the whole, no
method has hitherto been a medium
of trade equal in all its advantages to
bills of credit made general legal
tender"
Mr.. Atkinson intimates that silver
barons" are interested in free-silver
literature to boom silver. Well, now,
honor bright, is it not automatic that
the higher silver bullion blooms" up
toward 100 cents, its face value, the
more honest" the bullion in the dol
lar becomes? / sometimes think these
excessive honesty" folks give away
their argument in their denunciation
of silver miners. 1t is scarcity rather
than honesty" that the single-gold
standard folk want-gold for ''ulti-
mate redemption" 1t would be clear
er to the average mind If they would
say remote redemption.
THE MILK IN THE CoCOANUT
is in the accumulative power Of COM
pound interest. One great writer ex-
claimed over a compound interest ia
BILE: "One thing that astonishes me
is that the deadly fact that lies buried
in these tables has not devoured the
whole race"
If when Christ was born Joseph had
taken 81 down to the money-changers
and improved" it at 4 per cent in
terest, compounded nineteen centuries,
it would amount to over 22S nonillion
dollars, thirty-three figures in a line
to express it, or, in other words, over
5000 spheres of standard gold the
size of this earth. l dropped several
worlds for the brevity of round num-
bers. Or it would equal a string of
gold worlds to the sun and a quarter
of the way back. Where are you 60
ing to get the gold or the silver, either?
What does this array of figures
teach? This: The heavy fundholders
like the Rothschilds have learned this
deadly fact" the accumulative power
of compound interest. They may oc-
casionally assent to take their inter
est In currency that they can turn in
the market for more bonds by CON
sent of parties" but when it comes to
the principal, the goose that lays the
coupon egg, they stand back on their
legal rights"-nothing but absolute
legal-tender money-which they con-
spire to limit to gold alone, so relative
ly scarce as to postpone indefinitely
the payment Of the principal-force
refunding-and crystalline and per-
petuate bonded debts on all good, in
dustrious. tax-paying nations In the
civilized world 1t Is longtime in:
vcstments for their unwieldy fortunes.
What protects longtime investments.
largely created with paper credit cur
rency? The pitiable superstition
that nothing can be absolute legal
tender save scarce gold under the dis
guise Of a single standard, so scarce a.
to force rIfundins instead Of payment