Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1898-03-24
Continued from page D.

less money you will be able 10 iec"iioi'e
vour gold standard with agricultural pros
perity. We seek money system 'ha'
will make producers prosperous'or fa.'e'
that will permit them to make themselves
50 as 4 normal and regular thing ana not
~ q result OF accident. Had it not been
for foreign famine and calamity your sy--
tenn would have injured The grower
whea, in 1897 as it has with almost uh-
interrupted regularity. injured him since
/ 1873
But YOU are bold enough to venture IN
to the catechising business Oh your own |
account, aud yoo pro. ana edi'orl"''N
the following questions:
al. DO you believe that under Tree
ana independent coinage OF silver at 10 TO
I l the parity with gold can be maintained
90. Assuming that you DO, II
United states is thus able to make
4Ocent silver dollar worth 100 cents III
gold. what reason is there to prevent eN-
ercise of the governments powers 50 t!ia'
a paper dollar, wor,h Il fraction OF Il cent
may be made worth loo cents in gold
%. Ii the parity cannot be nam
tanned, will the result be otherwise than
| to iasten the silver standard on the coun-
trvo Is the silver standard preferable 10
/ the coldo What will become OF gold II
we have the silver standard?
81. Ii the present gold dollar Is
oOO.cent dollar, what ~ i'll the silver dollar
be when it is maintained under nee
coinage at equality with gold?
"'5. Win free coinage reduce the
value OF all gold, or more than double the
value of all the silver in the world? II
the former, whom will it mi are? IL the
latter whom will it b.neft? The people
or the mine owners? How will it in
crease the purchasing power OF the sllvc
dollar, which now passes for so'
dollar?'
ANSWERS.
~. TO he sure do
so. no reason on earth except the
practical difficulty OF regulating the guam
titv of the issue. 1t may b. news to YOU
but there is practically no dissent from
the proposition have just stated among
the standard economic authorities OF the
", II. IIe"rv I'lrn;ng Mel .eod, next to
your gold standard. says: There Is
ideally no difference in principle between
metallic and Il paper currency, only one
depends upon Il wider basi, OF credit OF OF
acceptance than the other Said the
great Lord Overstone: In adopting
paper circulation We must nna\oldably
depend for a maintenance Of its due value
upon the adoption of Il strict and judcous
:nlc for the regulation Of its amount.
&c ,lus, the ablest OF Justnian's juriscon-
suits wrote into the Pandects over twelve
centuries ago, the following: Its (mon-
evs) power of acquisition depends not on
| it's substance, but on its quantity Not
to be tedious in multiplying what 10 "a
will seem revelations, unless your mentl
audacitv is such as to encourage you to
insult the greatest names in political
science, but which, to men OF any info.'
nation, are commonplace, | will add
only one more citation. 1t is from Jevons,
one OF the greatest thinkers Of the CEN
fury, gold-standard man, in his Money
and the Mechanism OF Exchange: There
is plenty OF evidence to prove that an in
convertible paper money, if carefully linn
tied in quantity, can retain its full value
Such vas the case with the Bank OF Eng
land notes for several years after the sns-
pension OF specie payments in 1877, and
such is the case with the present notes OF
the Bank of France Let me add that
the Bank of England now floats abolt
f16,O0o, 900 $50 900, O00) OF notes in I'M
covered paper, not resting on a specie re-
serve; and the English commission on
the Indian currency Uord Iersche's
1898, mentions that few years ago the
inconvertible paper OF Brazil was for
some time at Il considerable premium
over gold. What do you say to that?
"But you speak Of "a Accent silver dol
lar know of no such dollar, do you?
Do YOU dare to call our present silver dol
lar a decent dollar? And do you desi e
to contend, before the common sense OF
your readers, that to give to silver bullion
the right, now denied to it, to 80 into the
mint as bullion and come out as money
empowered to pay debts and do business
to the extent of billions of dollars a year
in this country, would not make that bull
lion worth any more than it is now?
"3. The parity can be maintained, as
attempted to show in my speech the other
evening, 1t would not, however, be diff
ficult, i! space and leisure permitted, to
show, not to you but to open minded
men, that even assuming what you call
che silver standard to be established in
tie United States, we should be far more
! p. osperous than we can hereafter be il
/ the gold standard is to continue. Both