The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-08-22

cats, cotton, barley, potatoes, nay au
corn IS about two billions. 80 ali osr
money is needed twice every year IA na .,u,,
ling these products. And double as muen
mora In agricultural products not here In
cIuded. -.
The business in live stock reaches one
ana three uuai ters billions annaully, re-
curing all our money almost twice year
In this channel. -. $50.
Our government expenses Deins o'Is
half billion annually, all our pioney -
required In this channel once every TWO
years, -, ~
ynrssf Unlimited extent but IL sutflces 70
show the niiserably small volume OF MONEY
W. have compared with the business VIC
do. Our gross business Is between lofty
and fifty billions u year. Thus II appears
that the money lenders nave SO ou. .s =,
"a Inc rest OF us that this vas. volume Oh
business must be discharged with VOL
,,ne of money only one-fortieth or one
fiftieth as large With forty or fifty tlihe'
more demand for money than we haso
money. eau we wonder that money is
scarce and interest high! Is II strange
that every little town must nave from
two to a dozen banks fiiiee with nisn- SAL ~.
aried non producers, In oruer TO erect tue
exchnnec needed with sufficient rapidity
10 n strange that under such conditions
Tho same bill OF exchange must pc useu
In several cities the same way IN caen
case the banks getting shares Altnoush
thi, vast army of banks ana empioyes.
producing nothing, are mere pioou sucheas
upon the people, yet II Is pdipap,e 'n ~,
under present conditions we can not 90
withort them, Ought not such conditlons
be changed so that the volume or money
the mere measure OF values--wiil De SUI
ficient under all conditions to discharge
the business of the country ..,,,,
Can IL be doneI The financial question,
like our laws has been made an ihtrio".e
and complex system In the ihteiese "
classes Az an abstract question: II seems
10 me simple Gold and silver coined at
given ratio with ample volumes oil paper
money. and small change money paper.
nickel conner or else), all an unrestrio.eu
legal tender and all inter- converubie on,y
at the option of the government wo",
solve the question. This "redeemapie o's
demand of the holder and the ilinitins !, ~,
the legal tender power OF money Is tno
| "sn,der in the ointment" the Niger III
| tbe wood ralc" 1t net only limits ISSUES
Of paper money, but requires the STORMS
Of millions in reserves as saiosuA' US
| against the manipuations OF speGuia'ion. !
| Nov some one will soly this is green
b1ckism. 1t is not. Here are the ais-
tinctions: Gold and silver, with Pdper
money not a legal tender alnd con-
vertible into ccin ON demand of holder,
makes gold and silver not only tho dehhi :
| ton OF the value Of paper money, put the
| basis of it's value. No more paper can De
| Issued than we have coin. and great com
| reserves must be held against paper IS
| sues. Gold aud silver as units OF Vaihe,
| with naper money, small change included,
| inter convertible at the option OF the gov
| erament, and all--from copper cent up
n full legal tender, would make gold and
silver merely the definition OF the value
| OF all other moneys; the basis OF It's value
would be the seventy or eighty billions OF
the wealth OF the government. as well as
| the power to increase this wealth, and the
| patriotism that wculd defend 1t. Under
these conditions paper money could be
| issued to meet the full demands OF the
| commerce OF tho country. Greenbackism
| Is distinct from both systems above noted
| 1t 10 a "fa." dollar without any definition
| as to value, o. basis of value, and hence
is an absurdity. Now. let's see If this
| can not be proven by a simple illus
| tration.
| The only need for money is as meas
| ure OF values to facilitate exchanges. This
+, is an accepted principle. Let us then sup
| pose o. colony of 100 families in a new
county. Say they have property OF the
average value of $1,000 for each family
Finding exchange OF products inconvenient
| they determine upon. a measure OF values
munity they have only 500 in gold and
500 In silver but conclude that they will
need at least $50 900 to carry on business
with each other. VIII anybody deny that
they could issue money that would be
good money If defined MS worth the same
per dollar as the gold and silver dollar IN
hand, and II secured by the 100000 OF
property owned by the colony? Consider
ing the greater convenience of paper money
as mtney, would any of that 100 families
ever want any CT the silver or gold ex-
ce,t for Of purpose for the business? The
definition OF the value of their paper money
would be gold and silver; the basis of Its
value the 100000 In property owned by
the colony What applies to the 100 Fam.
lilies would apply with even greater force
to 100000 900 Of people or more. Who car
show the reverse? Under such system
absurd reserves could be abolished, all the
money ''redecmable on demand" and
miscellaneous issues not legal tenders
would take q back seat. Under such q
system gold and silver, cumbrous and
burdensome as money, would seek vaults
or the arts. and would take their value
from the demands for them other than a.
money, and not as now from the artihcia
value given them as demand redeemen
OF other money! value produced by class
legislation in favor OF money lenders
Hence money would be cheap, interest low
and prices high conditions which would
assure prosperity TO the people and alyuos
G. death knell to the money lending bust
ness and the vampire work of interest
the Leaking curse OF mankind since the be.
ginning OF time. Under such conditions
, even II speculation should run down on,
, money as compared with another. the mass.
es would get the benefit. They could pa,
debts with tho cheaper money. When
conditions are such that pancs will bene
ut the masses instead of enriching the
classes as now, then panios will case.
Ia word, when the masses think, or,
!, ganize end act, the classes will ceas. /,
ouismart hem, class legislation will u,
az an END, every one will have an equa
show for the blessings in sight as wei
as carry an equitable share OF the burdens
None OF us will live to see that time
nut we may do something to shorten II,
coming.