The River Falls times. [volume] (River Falls, Pierce County, Wis.) 1894-1933, 1898-12-06


| live better than any other, and, con-
sequently. require more money.
@. Would the gold be driven out of
the country?
A. If money should become too plen-
tiful it is barely possible that gold
might for short time tend to leave
the country, especially if it were the
more valuable metal. But if gold be
taken out, something more valuable
will come to us in exchange for it. The
government may prevent any trouble
by exercising its option of paying it's
obligations in gold or silver thereby
strengthening the weaker metal The
motive for cornering gold, making a
run on the treasury and forcing issues
Of bonds, will be removed by the pro-
vision that no money shall be issued,
except by the government For if
banks are not permitted to issue
money-bank notes-they will need no
therefore will not be put to the neces-
sity of forcing bond issues for a con-
tinuance Of existence
@. Would this do away with national
banks?
A. National banks, at present, exist
by holding government bonds. Bonds
are government debts. They, there
fore, live on the misfortune of the peo-
pie. Thomas Jefferson answered this
question as follows: II believe that
the banking institutions are more dan
gerous to our liberties than standing
armies. Already they have raised up
a money aristocracy that has set the
government at defiance. The issuing
power should be taken from the banks
and restored to the government and
the people, where it belongs. Let the
banks exist but let them bank on
treasury notes.
Q. But will the silver dollar be equal
to the gold dollar?
A. The old truism will serve to an
swer this if applied 1.-TWO things that
are equal to the same thing are equal
to each other" Without quibbling as
to what is the unit of value we may
admit the contention of many of the
advocates of single standard, that
the unit is "a dollar in the abstract.
Then,
3711a grains of pure silver-"a dol
lar
1922 grains pure gold-"a dollar"
Applying the axiom, BIN grains Of
pure silver-23.22 grains pure gold
q. e. d.
@. But would it not be reputation
to pay our debts in standard money
under conditions created by free coin
age?
A. Most of our debts, especially for
eign obligations, are of lond standing,
and were contracted under free coin
age. All of them are payable in law
full coin of the country. If it be said
that to adopt free coinage, or a double
standard, would change values and
make a debt easier to pay, that is an
admission that the adoption of a sim
gle gold standard changed values and
made debts harder to pay Now. if it
be true that the debts of the people are
increased beyond the contemplation of
the contracts when entered into. then,
for the government to lend its aid to
such a wrong or to refuse to interpose
its power to prevent such an outrage.
is a crime of the most heinous char
acter If there be any possibility that
those who are now becoming creditors
or who have recently become so, NAV
be injured-which l deny-it only en-
phasizes the Importance of speedy
action in this matter, for sooner or
later bimetallism must come. not only
here, but everywhere. No, bimetaI-
lists are not regulators; they propose
to pay back all they receive, principal
and interest, but what can be said of
those who declare that gold only shall
be used in the payment of debts. when
they know there is not now, nor ever
will be, gold enough in all the world to
pay one-fifth part of its debts. Again.
if foreign creditors think they are to
be injured by free coinage in the United
States, they may save themselves hr