Natchitoches populist., 1898-05-27

upon the country, for it involves the
power to regulate its value by the ii+
fation or the contraction OF the vol
ume, as private interest or greed may
| dictate.
1t is a matter of momentous import
to cur country, and should be well con-
sidered. Under sich d system, it Is an
easy matter to show how transfer 81
the great bulk of wealth of the eoun-
try can be successfully transferred I'd
the possession of a few. That process
has In all conscience proceeded fast
enough without any such fictitious aid.
It lis best to call q halt, before we reach
the precipice.
We have had the use Of a large VOL
tune Of national money-not large
enough 1t is true; but Of enough to show
the American people Its economic
value, and to establish a regard for It
as the best money in our country, for
many years Costless and safe, it has
stood the test until as an object lesson
it threatened the-"Vampire" gold,
then 1t was marked for destruction.
That question is now fairly before the
people, Will they surrender their SOW
ereigtl power? The edict has gone
forth that the greenbacks must go, and
the monopoly value Of geld be in
creased and perpetuated. Then what?
The transformation of our government
into plutocratic form, pure and SIM
pie. A powerful party, with unlimited
wealth behind it. stands committed to
that policy, though there are millions
OF its supporters heretofore who will
not follow 1t on that line now. Suppose
that the United States were to become
involved In foreign war, and needing
money should adopt the policy Of is
suing paper certificates which stated
on their face that they would be fe-
ceived at their face value for all dies
and debts to the United States. With
an absolute daily demand by the gov
ernment for money TO meet its enor-
nous expenditure daily, and never
ceasing. with unlimited power CT taxa
ton, what money could be better than
the peoples own?
We are not raising the question of
quantity at all, but Of quality. Incom-
Darably better than any bank issue, ma
tional or private. would be the same
quantity Of national paper certificates,
the demand for which would be cease
less and limited only by the taxes
levied BY the representatives Of tha
people. Is it reasonable to suppose that.
the power to coin paper money Is mere
ly a war power? That great people
may to conduct carnage on The field of
battle possess such power, and yet not
use 1t to promote the arts OF peace, or
even to avert calamities worse than
war?
Money, the great instrument of asso-
citation, is essential to our civilization.
Credit appliances can be made, and are
made flexible: but the volume of money
upon which credit appliances are based,
should be fixed, and provided by law,
issued by the sovereign power.
( 1t almost seems that some people
think that the world was made for
coupon clippers, and that the chief end
of man Is to meet interests On bonded
debts. Such people do not consider
that from industry, promoted by suf-
ficient supply of money, all payments
must come, and that hard times,
caused by a contracted volume of
money. is not conducive to the just
payment of debts, bonded or otherwise.
It is not SO much from low prices as
from falling prices that the world has
suffered. When prices are tending
downward nobody will invest money
in property, but money is boarded.
We have given monopoly value to
gold, and there Is general want of
confidence, not In the money existing,
but in the value Of all forms Of prop
erty which constitutes the wealth of
nations, and money the measure, is ex-
alted not only above all wealth, but
above humanity. 1t is not more credit
appliances--more debts--but return
Of that confidence in the value of that
which has in all past ages been es-
teened as true wealth. and the resto-
ration to Its function Of the money
we see boarded. That function is use
In the transfer of wealth and competi-
tion for it's possession and distribution.
This will constitute the greatest
benefit to be derived by the restoration
OF silver to its time-honored place as a
full value money metal. But there
must be no surrender Of the sovereign
right to coin all the money OIL the coun-
try.
j. w. PORTER.
: -