The Irish standard., 1897-01-02
DIFFERENCE OF OPINION.


righteously taken the New York Tribune
to task. The Tribune improperly stated
that the power Ito coin money and reg
ulate the value thereof, and of foreign
COINS" is function of government. This
the Times Herald brands as populism,
and so it is, for it Is assigning to the peo-
pie, who used to be the governing body
in the United States, the power to do
that which is now to be the exclusive
prerogative of divers and sundry cor
porations, says the Peoria Journal. In
chastising the New York pupolist daily
for it's anarchy in this respect the Times
Herald significantly says ''the function Of
government is not to issue money, but
to protect by law the money Of the peo-
pie, as it protects other. kinds OF prop
erty." This settles it, and the public is
under heavy obligations to the Times
Herald for defining with SO much exact
ness just what money Is and is not, In
it's relation to government. There was
time, perhaps, when the power to issue
money was the exclusive prerogatiye of
the government, but those days appear
to have fled. 1t is to be regretted, how
ever, that while it was about 1t the
great Chicago cambist did not explain In
other ways than this negative one, pre-
cisely what the origin Of money is Or is
to be in the future. The nearest ap-
proach to it is in reply to query pro-
pounded by the New York ignoramus,
the Tribune, the editor of which wants to
be informed what is to be substituted for
the greenbacks and treasury notes, which
the friends of the 'Ttmes-Herafd are
about to retire. To this benighted in
quiry the Chicago wiseacre replies:
"None whatever is needed so far as the
government is concerned. The people
will acquire their money, as they acquire
other kinds of property, and only need
protection in its USE" This is delightful,
but. it is little misty. The Times
Herald knows, of course. all about It, but
merely forgot to be specific. The people
will acquire their money just as they
acquire other kinds of property, certain
ly they will, after the money is brought
into existence, but they will not grow 1t
as they grow wheat, and neither will
they weave it as they weave cloth. To
fabricate money, as people manufacture
merchandise, is usually dominted for
gerry. To acquire it as other kinds OF
property are acquired is all right, but
there must first of all be some inftiatory
source, and as that source Is not to be
government authority the New York
Tribune Is to slight extent excusable
for asking in its feeble cropping way for
further light on the subject. This, how
ever, is as far as the discussion has gone
to date. Later, perhaps, the omniscient
Chicago editor statesman, having ven
tured out of the woods. will condescend
to continue his course Of instruction to
other more ignorant editors. 1t is more
than likely that the press of the country
is on the eve of receiving strong and
binding side lights. on the doctrine OF
Colonel Ingersoll, who holds that it Is
nature, not government, that makes,
money. In any event, the New York
Tribune must lapse back into nothing
ness. 1t is enough for 1t to be informed
at present that it is populistic and dan
gerous to believe or teach that govern
ment has power ".to coin money and reg
ulate the value thereof. and of foreign
coins" The quotation Is culled from an
old-fashioned document known to anti
ouarians as the Constitution of the
United States, but the Tribune must bear
in mind that the Constitution in question
Is ancient history, and history has no
lessons for enlightened, pushing business
people, like the people Of the, United
States In the year OF grace. 1896. Ola
fogy notions are Obsolete: These are the
days OF Groves. Cleveland the Great; not
the slow times Of George Washington.
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