The representative. [volume] (St. Paul, Minn.) 1893-1901, 1898-10-12
THE MONEY QUESTION.

Editor Tribune:
In your valuable paper of Sept. 20 you
quote editorially Representative Fowler,
of New Jersey, who recently read a "a
per at the national currency convention
at Omaha, on what is the best form of
paper money.
In this you say he gave very clear
definition and the real meaning Of the
term money.
You say he said: Money is commcd-
ity,' ETC., and the standard of values in
the United States is gold; hence gold
coin constitutes the only money in the
United States, etc.; that all other medi-
ums of exchange are merely representa-
tives of money, or, in other words, cur
rency; that the silver dollar is not
money, but currency, check on the gov
eminent for one dollar in gold coin, and
a lot of other stuff which I propose to
show is fallacious, and. that such teach
ings are wrong, anarchistic and danger
GUS to society.
in the Tribune as the vaporish utterances
of an Eastern congressman, no one
would give them serious thought. No
one expects them etto know anything
about the science of money. They have
their Eastern bankers and money-chang-
ers to serve, and they are not expected to
do anything on the, money question ex-
cept what their masters dictate. But
how sad to reflect that live editor ct
great Western city daily newspaper
whose city depends upon the prosperity
of the surrounding country and their in
dustries, to build up and maintain this
great city, the metropolis of the North
west, should make such statements.
How on earth can you advocate the
fallacy that compels all industries to
submit to the blistering taxes that must
follow the purchase of the dearest, most
precious and rare commodity to make
representative of their common products
This taxation would take all the profits
of all industries, and in time end in ruin
to all business.
am surprised that you would quote
Fowler Money is not commodity, but
is the legal measure of all values, made
so by congress, the sovereign power, in
their sovereign capacity-that is, dele
gated to them by the constitution, which
gives them alone the power to coin,
create money, for the convenience of the
people; to aid them in the production,
distribution and convenient exchange Of
all wealth in the United States, including
gold and silver metal, and if properly
constituted, is a legal tender for all
debts and taxes public and private. No
one can refuse it in payment of all obli-
cations due in the United States, no
mater what material the money is made
out of.
Then what folly it is to say money is
a commodity 1t is thing one citizen
can compel another citizen to take in
payment of debts due. This is money,
and it's power and uses. The material
out of which money is made has nothing
to do with it as money.
Now, Mr. Editor, suppose you or Fow-
Ter should tender plain Jumps of gold in
payment of debts Gf you are unfortunate
enough to owe debts these hard times),
the creditor could refuse to take the
Jumps of gold, and he could sue you in
the courts the next day, obtain judgment
and attach sufficient amount of property,
including your gold Jumps, and sell them
to get enough money to satisfy the debt.
But if money had been rendered, instead
of the gold Jumps, and the tender could
be proven, the creditor would not have
any standing in any court as long as the
tender was kept good. Now, suppose you
and Fowler would take your gold Jumps
and coin them yourselves into S., $40
and $50 pieces, and tender them in pay
ment of your debts. your creditors could
not only refuse your coins, but prose-
| cute you in criminal action, and If 1t
was proven that you made the coins that