The San Francisco call., 1897-07-07
The MONEY ISSUE.

Editor San Frcaeisco Coll: Blaine. beIore a
vast au1ierce during The var, held up 8
greenback and asked: what makes this
money! This question IS IS old as civiiizs-
tioa. Il belongs 10 All times and al peoples
Thinkers have puzzled over II, and economists
have theorizsd. Every Government hss net
the same ana tried to answer IL
In the full splenoor OF this wonderful cen.
tury the gifted American knew well that this
question embodied the worlds struggles, It's
wisdom and folly, its failure and triunp ph.
Doubtless he called TO memory that the
Sazsrene once and forever solved IL when,
gazing on the in psrial image on the deasrius,
ne said; Render unto Cesar, ETC." For.
giving tn answer commensurate with the
principles involved, the ststesman-orator
said: II is money because the United States
GoTernnend has created II Behind II stands
ali the gold and silver, all The prop
erty OF our people, all the men and women
who love the stars and stripes.
stood upoa the constitution, for it declares
"The Congress shall have power 10 coin
money to regulate the value thereof, and OF
foreign coins" On these seventeen simple
words our finance system Is based. They are
the only source OF our money powers.
since this IS true. Il is natural ihst the ex-
eTcise of ihis most potential right of Congress
should come for review before the United
STATES Supreme Court. It's lest and most CON-
prehensiye decision concurred in by eight
Jusiices-Fieid alone disSenting-xss rea-
dered on Aerch g. 1884 The case Is tnst o:
JuIiard VS.. Greenman Q1o L. s. Reports,
42l The latter 6. New York bought 100
/ bales OF cotton for S5122 80, nd ofsred IN
payment SO 80 in coin and $500 in United
States greenbecks. They were declined De
/ cause they were not money" Hence the
power of the United States IN issuing them
was directly chslie nged-
The highest court declared that Julia I'd
! must accept the $500, paper money in paw.
ment OF his cotton, AID, among other POINTS
dec ared these 10 BE- constitutional powers OF
/ The Government: The United States may bor
row money; may issue its noies ana ma k
them gal tender; may make them euual "a
I gold and silver and iITedeeuable in either:
may provide q currency for the whole ns ton
may at will change Its money, and that all con.
| tracts public ana private, are made subject tc
/ this reserve power to change; and lastly thai
/ these are matters for Congress, which are moi
renewable by the couris. This IS io-dsy the
admitted law OF the land.
Now, the Democracy, in its Chicago platform
| openly refused 10 use this power granted by
The consiitufioo. 1t acknowledged the need
! for more mouey, but said 1t merely wanted free
| silver coinage, and declared thai all National
| paper money must be redeemed in com.
This is its solemn voice in National con
cIave This is its policy. And 10 tnis we sey
| tnst If paper money Was so issued IL would re
suit In no real increase n Circulation bees use
such currency would not be complete money
| since il must Itself be redeemed. For thinker:
| all sgFee that thing which needs Fede N Dtior
| Is not money. and that the circulating
medium is measured BY The quantity OF the
| pest-that is, all unredeemable money.
| MOI only WAS the last Dem ocratic campaign
| fought on this policy. but the recent 0hiC
/ Platform. made last week. repeats this as tC
/ papers redemption. The leading apostle O
that National organisation. now tourin1 fol
/ the Presidency, dec. ares this platform al
sound. wise and equal 10 our needs Nay h.
grayely asserts that gold and silver are divine
/ ordained and scattered Ger the earth for monel
pur poses. But these principles so enuneiateG