The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1897-11-26

lA
Gently asked Stephen W Niekers0h,
president Of the Massachusetts, Bimetai-
/ licunion. for his views on certain points.
/ Col. NfckersCn, according TO the Silver
/ KNIGHT Waterman. replied as follows
sAs understood that the monetary
1 commission, sO-called. was designed 70
fasten the single gold standard per
manently upon this nation, and, under
the pretense OF taking the government
out OF the banking business to permit
tie national banks 70 further usurp con-
troll ever the governing business was
not surprfse5 20 End that the first inter
rngatoTv suc7zztsd the redemption Of
silver dollars III gold. I believe the late
I John e. Carlisle sometime secretary Of
( the United States treasury, but now
polttieaI 9host-in letter made public
from Bar Harbor over year ago sug-
/ gcsted the same profane idea I have
| never heard the suggestion from any
I other sourcess and / hope never shall
sgain.
CAS- it would require more time and
| space than I have to give 70 state even
/ q part OF my objections to treating sill
/ yer dollars as If they were redeemable IN
anything, I win content myself with
saving that silver dollars are primary
money aad need no redemption in any
thing.
Il believe in the free and unlimited
| coinage Of both gold and silver money
I by this nation independently without
/ waiting for the consent Of the landlords
of this or any other nation. The fund
/ lords have oppressed landlords, pro
/ ducers and all others (saye their own
/ class) too long already. Entertaining
/ these views It would be idle for me TO
consider your other interrOgatOries.
II am unwilling, however, to permit
this opportunity to pass without hum
/ blv pointing out to the so-called none
tary commission, which understand is
a body without any Official standing,
! that II il desires 10 learn how money
/ system can best become the hand
maiden Of commerce, the assistant Of
+ production, and the facilitatoF Of ex-
changes, its members cannot more read
ilv iIIumine their individual and col
lective ignorance, than by reading the
Science of Money a work by Hon. Al
/ exander Del Mar. Therein they viii
learn that money is the second great in
/ Vention Of mankind, which followed the
I EALA0lA VI lAA- ---~
invention Of the art Of writing. That ii
was intended 70 be a public measure
That 1t was designed to Obviate the in
justices, delays and iniquities Of barter;
and consequently its purposes are much
impeded if the burgher class are per
mitted by mOnOpolizing its control and
fabrication, TO use IL as a tool with
which TO exploit humanity, as is now
done. That the right to coin money and
fabricate and issue currency is re-
calian right which never should be dele
gated by the sovereign power to any
corporation or body Of men, lest the
state be subyerted. That value is nu-
merical relation, and hence that the
medieval superstition Of any intrinsic
! value" in gold is ridiculous. That it is
law which creates money and endOws ii
with legal tender power. That the value
Cf al money, including gold money, is
obedient to the great law Of supply and
demand; and, therefore, that law con-
trolls the value Of money by limiting its
/ quantity in the case of coin money TO
the quantity that can be fabricated of
tie metals gold and silver land subsi-
diary coin being of other metals), and in
the case Of currency by placing some
. arbitrary limit upon the quantity fab
ricated by engraving upon felted paper.
1.-THE mixed money case, decided early
. In the reign Of James L, should make
interesting and instructive reading for
the commission. 1t is reported in
Davies report, page As. and also in state
: trials, vol. II.
Those whom you serve regard money
solely from the point of view of the
/. creditor class. Those whom represent
, regard it from the point of view of jus
tice. ThosewhOni You -ooey think that
? money is sound" only when it is grad
= ually increasing In value. Those who
think with me consider stability Of
value as the chief consideration, and alb
hor alike money increasing in value and
money decreasing in value. You desire
. al primary money to be made of gold
. because there is so little gold that yOJ
can control its whereabouts and fee
sure of its increase in value, together
with all secondary money and credi
devices functioning as money. We de
sire primary money to be made OF boil
= the precious metals, because there i
not gold enough to 60 around, and be
cause the bimetallie dollar viii be NOR
3 stable in its value than the rObber mon
Ometallic gold dollar. Your school be
: lieves in permitting banks to issue cur
reney promising redemption IN coin
7 and in making the government respOn
. sible for the promise. Our school think
. that il the government IS to be mad
n responsible it ought also to issue tn
4 currency itself.
p eve are not enemies of either credi
or of gold because we are friends o
= silver We think credit should not b
spread out too thin and we know tia
T gold IS insufficient in supply. We ar
not opposed 20 national banks If thei
= functions are confined to those Of dis
count and deposit. We are unaiterabI
opposed 70 banks OF issue, yvhethe
under government supervision or not.
When political economy and tn
science Of money are regarded from tn
view point Of equity, and not from tn
view point OF the creditor class aIOn
tlnth viii be attained"
borrowed AmmunItion.
It has been said BY certain Of tn
goid-standard school that silver Ia