Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1897-11-25
THEY CATCH A TARTAR.
Monetary Commission Asks for and
Gets Col. NickersOn's Views.


thoughtful and experienced persons re-
Gently asked Stephen w. Nickerson,
president of the Massachusetts, Bimetal-
licunion, for his views on certain points.
Col. Nickerson, according to the Silver
knight Watchman, replied as follows:
"As understood that the monetary
commission, so-called, was designed to
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
the national banks to further usurp con-
troll over the governing business. I was
not surprised to find that the first inter
rogatory suggested the redemption of
silver dollars in gold. I believe the late
John G. Carlisle-sometimes secretary of
the United States treasury, but now
political ghost-in letter made public
from Bar Harbor over year ago sug-
gested the same profane idea. I have
never heard the suggestion from any
other sources; and hope I never shall
again.
'As it would require more time and
space than I have to give to state even
q part of my objections to treating sill
yer dollars as if they were redeemable in
anything, I will content myself with
saying that silver dollars are primary
money and need no redemption in any
thing.
'sI believe in the free and unlimited
coinage of both gold and silver money
by this nation Independently without
waiting for the consent of the landlords
al hn fun d.
lords have oppressed landlords, pro-
ducers and all others (save their own
class) too long already. Entertaining
these views it would be idle for me to
consider your other interrogatories.
st am unwilling, however, to permit
this opportunity to pass without hum
bly, pointing out to the so-called none
tary commission, which understand is
a body without any official standing,
that if Il desires to learn how money
system can best become the hand
maiden of commerce, the assistant of
production, and the facilitator of ex-
changes, it's members cannot more read
lily illumine their individual and col
lective ignorance, than by reading the
Science of Money work by Hon. AL
exander Del Mar. Therein they will
learn that money is the second great in
vention of mankind, which followed the
invention of language, but preceded the
invention of the art of writing. That it
was intended to be public measure.
That it was designed to obyiate 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 it 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-
galian right which never should be dele
gated by the sovereign power to any
corporation or body of men, lest the
state be subverted. That value is a 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 it
with legal tender power. That the value
IF all 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
the 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
1n Sc &n6 in
Davies report, page 4S, 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. Those whom you obey 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
all primary money to be made of gold,
because there is so little gold that you
can control its whereabouts and feel
sure of its increase in value, together
with all secondary money and credit
sire primary money to be made of both
the precious metals, because there is
not gold enough to go around, and be-
cause the bimetallic dollar will be more
stable in its value than the robber mon
ometallic gold dollar. Your school be-
ieves in permitting banks to issue cur
rency promising redemption in coin,
and in making the government respon-
sible for the promise. Our school thinks
that if the government is to be made
responsible it ought also to issue the
currency itself.
eve are not enemies of either credit
or of gold because we are friends of
silver. We think credit should not be
spread out too thin and we know that
gold is insufficient in supply. We are
not opposed to national banks if their
functions are confined to those of dis
count and deposit. We are unalterably
opposed to banks of issue, whether
Under government supervision or not
''When political economy and the
science of money are regarded from the
view point of equity. and not from the
view point of the creditor class alone
truth will be attained"
borrowed Ammunition.
It has been said by certain of the
gold-standard school that silver has
driven out Mexico's gold That is the
perversion of an argument long useI
by friends of the white metal Gold
L l. ~.