Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-07-14
The Cause OF Free Silver.


tHey can wen AHOTQ TO make the SdcEf
fee. It seems strange that if the.
United States issues money and gives it
to the banks such money should be
any better money than if issued d.
rectly by the United States. If any
body can explain why it is. should like
to know. I should like to know why it
would not be just as good money if the
bonds were deposited in the treasury
and 100000 of circulation issued di-
rectly on them as it would be to give
the money away to the banks.
"The reason why this pressure is
brought upon congress is the vast spec
ulation of the banks. They are deter
mined, according to the plan put for
ward in Indianapolis and in Baltimore
and by the secretary of the treasury, to
have the privilege of receiving from the
government money as donation with
out cost. There are nearly 1000 ma
tional banks. They are everywhere.
The officers of these banks meet every
man who goes to the bank for accom-
mediation. They bring their power to
bear upon their customers. They con-
troll votes everywhere, and that is why
we are departing from the teachings of
the fathers, departing from the Gus
toms of the better days of the republic.
That is why we are building up an
enormous national debt.
1.-THE increase of taxation now neces.
sary for this war and the increased ex.
penditures at home and abroad require
a larger circulation. If we hold the
possessions which we are acquiring, we
will add 10000, 900 or Is ,OO0, 900 to our
population in the next year. Money
will be required there, and more money
ought to be issued. We proposed to
use the $42,0o0,000 of seigniorage which
is lying idle in the treasury, but that
is not granted to us. That cannot be
used. 1t must lie idle and we must
borrow money to pay interest on it.
There is no reason assigned for it.
sit is true that the committee has
reported in favor of coming $1,5oo,0oC
of silver a month, when the secretary
might coin under the present law, II
he wanted to, four times that amount.
1t is, however, an answer to his sug.
gestion to sell the bullion at auction.
The secretary has made the world be-
lieve he was going to put it on the
market and sell it at auction.
"The coinage required by the bill is
little damper on that scheme. 1t is
to be coined into dollars, and it viii
prevent him from attempting to coin
it into something else. 1t is little
check on the wild schemes of the gold
lite who presides over the treasury de-
partment. That is all. 1t is not half
what he ought to do if he would dc
his duty in this emergency. He should
be in favor of availing himself of the
$42. 100000. It is the best money they
have, better than gold. Silver certifi.
Gates are better than gold.
''Money is useful in proportion to the
functions it will perform. If it will per-
form all the functions of money, it is
useful. What more faithful money ex-
lists in this country than the silver GER
tificates? One-half of your whole bust
ness is done by them. Go anywhere and
you will find them circulating from
hand to hand. You will find them in
the banks. They are not hiding away.
They have much better habits than
gold. Gold is a natural traitor, and al.
ways was. Whenever there is a strug-
gle, it goes abroad and becomes i'm
pounded under foreign mint laws. You
have to issue bonds to redeem the
traitor and bring it back. Gold has
never fought battle. 1t is the specu-
lator's money. It does not serve to cir
culate among the people, and it never
did.
I'VE are willing that the rich shall
have their kind of money for specula-
Mill oil he -,
have money that circulates. That is
all we ask. We do not propose to de-
monetize gold. We are willing that
the spectators shall have gold. No.
body else ever used it. It has always
been used for speculative purposes. 1t
has left every country in time of war,
and it will continue to do so. But the
habits of silver certificates are excel
lent. My friend is laughing at me, but
he does all his marketing and his bust
ness with them. All of us do. You do
not handle gold. 1t is no good for any
purpose except speculative purposes.
''In the last year of the late war the
internal revenue tax on the business
of the country raised $500. 900, 900. That
was when we had 100000 population.
You cannot levy that amount of tax
on 10000, 900 people without causing
universal distress. Our people to-day
cannot pay as much internal revenue
taxes with the same ease as 10000 600
in the north could pay during the war,
because you have not got money to pay
It with. You will find it everywhere in
business. 1t will be a great annoyance.
Money will be scarce. Times will be
hard. 1t may be that the national banks
will take up some of these bonds and
give us some money; probably they
will. They will not, however, IL the
sIheme spoken off here Of the bonds be-
lag taken by the people is successful
Silver Knight-Watchman.
GladstOne's Slave-HOldin& Father.
Apparently, Sir John Gladstone was
a man of more force than fineness in
Al L II