The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1898-11-09
John NJ. HOTnGT'S Claims for Ills
Published Work.
ARGUES PRACTICAL TREATMENT
Affirms That Legislation He Sug-
gests Would Avert All Panics.
Gold and Silver Parity.

Settling the money question is the
most important financial question that
man was ever called upon 10 settle. II
has been the question during several
presidential political campaigns and
must continue TO be the most import
ant question until it is rightly settled.
I \ book just printed by the Gazette
Co. treats this question in a practical
way for permanent and just settle
ment. 1t was written soon after the
1893 money panic in the United States
TO save the people of that country
from all similar affections Of money
famine, money monopoly, money
boarding, money panics, usuriOus in
terest, etc.
1 unhesftatingly affirm without any
fear of being mistaken that had the
Bill in the book been enacted ten
years ago, the loss and suffering the
people of the United States have en-
dured the past ten years by money
mopoly, money panic, etc, could
not have occurred.
Statistics inform US the pecuniary
loss to the people the past ten years
from idle labor, idle machinery and
depreciation in the value of property
has been fifteen billion of dollars.
Think of it! The vastness of the sum
is bewildering! Besides the pecuniary
loss above referred to, the physical
suffering of the starving half clad, half
fed homeless ones, and the headache,
heartache and suicide of the unfortun-
ates, merchants, bankers, farmers,
etc.) and other suffering brought on
by a different money supply in the
channels of trade. No one but the ON
niscient can render a true account.
Well may it be claimed, that
finance measure that would settle the
money question and thus prevent all
loss and suffering from imperfect
money systems, would be the most i'm
portant finance question ever settled
by man. No doubt all who have suf-
fered, or seen or even read of the af-
fiictions periodically brought upon
man by our cruel system of money,
y
would willingly assist to enact or es-
tablish money system that would
prevent all future money panics with
their loss and misery, if they knew
how. Imparting the know how, is one
of the burdens of the book.
This system, although settling the
money question and preventing money
panics, would not change the material
Of n iS
United States gold coin would con-
tinue our money standard. Gold and
silver coin upon a ratio Of 10 to l, and
Government bank paper-all a full
tender and amply secured-would be
the only kind of money authorized by
this system, and all of it kept on a
parity without a gold redemption.
Greenbacks and other treasury
notes, and silver certificates will all
go out of circulation without dimin-
ishing the amount of money in circu-
latiOn, or requiring the Government to
redeem them by gold coin or god
bonds.
There viii be no free silver coinage
and no more silver certificates issued.
If the people demand paper money
they will use the Government bank
note, which will be a full tender, and
always fully secured.
Under this system the whole people
will be the money power, in stead Of q
few individuals of that people as now.
This would accord with the claim
and profession of the American peo-
pie, viz: The greatest good to the
greatest number" In America money
is only made by sovereign authority
and there the people are absolute SOW
ereigns and of course can cOlstitu-
tiOnally order, organize and put in mo-
ton a banking department to coin, is
sue and circulate money in full supply
at all times, to Government. to States
and TO every citizen who demands it
and furnishes the required security.
This would make the whole people
cOnstitutionally the money power and
would free them from their periodical
money Affections, as effectually as
Cuba and Porto Rico have been freed
from the cruel domination of Spain.
The book tells how all this can be
done and many other important and
desirable things.
These Islands, being now part OF
the body polite of America, its peo-
pie will be deeply interested in the
final settlement of this important
question.
JNO. NJ. HORNER