The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-02-09

.vr redemption, TOT he could always par
chase IN the open markets with the saras
notes every grain OF bullion he could OBJ,
tam at the treasury, and In these markets
ne could purchase the metal desired, while
az the treasury he would be compelled q
Jake whichever the government could mos
conveniently spare. At either place hi
could always obtain In one or the othsi
Of tho money metals $50 recognized from
the dawn of civilization to the present day.
the last farthing OF the fnce value OF every
note he presented. The endless chain
would then unload in the treasury lust as
many ounces OF metal as 1t carried away,
ana neither the government nor iniiyid.
,lals could be injured.
we nave this currency; 1t supplies eveFy
want; answers every purpose thnt money
can possibly do, Why should We surrender
y, ana load the Nation With IN Interest,"
bearing debt OF S5oC.0oo,oo0 or rntre. ~ cry
, .ai.nihs % when must be wiung from the
toilers OF the land?
Can anyone but Nationai banker a 50,
ana what does he see? Fiat rs cons
oi iiat' only 2S cents of real none. All
lne rest wind. he cries. but how much
nat Is there in his own note? rr.c;.ye
OF 70 per cent OF the aggregate OF his Do
posts IS all he is required to keep His
pliis are secured by the United States
bonds, on which he draws i,itsrcst, Nri
equally sacred and equally binding O IL
giition OF the government to pat them on
uemand written across the face IF zach,
ana supplemented by solemn act OF i, .
gress that they shall be paid with c5in.
That Is more than a National banker.
undertakes to do. for his Is a promise 10
pay In lawful money only. which inc,uaes
regal tender paper money as well lis COIN
and unless his undertaking Is better than
that of the government his money can not
possibly be sounder or better tGn Ma
tional currency is.
WHIT next?
Let congress further provide that upon
the receipt of either gold Or silver bullion
at the treasury there shall be issred IN
the person depositing it, a certificate ex-
pressing in dollars The higfest market
price of the same on the day of deposit in
ths great mac.it.s of the world, redeem
able on demand. subject to three Gays
grace after deposit for hat purpose IN gold
or silver ut the governments option IT the
same valuation, and mako /; the duty Of
the treasurer within he three days a.
lowed for redemption 10 puic in tic
open markets quantity ct bullion equal
to that required Tor reiemption. Make
these certificates tnot the ballion trey
represent), a legal tender in payment CT
all claims, public and l.lyite. aud provide
for their reissue as fast as redeemed, and
then SO legislate as to turn .he gold apd
silver stream that filters through our
mines away from the open markets of the
world and into our own Nauoual treas
ury.
Who would dispute the soundness Of srch
currency?
Every cent of fiat, that walking goblin
that frightens the money kings. of the
world, would be squeezed out of 1t. Every.
dollar secured to its full face value by gold
or silver stored in the Nations treasury
and reinforced by the plighted faith OF
this great Republic, that no matter what
comes it shall always be redeemed with
one or the other of the money metals at
their actual value whenever demanded
Put puny bank note that is not money
and can not be made such. backed by the
personal liability of its stockholders and
its 100 per cent National bonds that bark
ers are already trying to get rid OF furnish
ing beside it, and tell me which of the two
would be sound money and which would
not be money. sound or unsound.
We have this money. An infinite Creato.'
bestowed it upon us. Our mountains ar.
loaded with it. We have also armies OF
men eager for work that could be profit
ably employed in digging it out. We foster
or try to- other forms of industries. WAY
should we help to strike this down? Bring
out the metals, cord them up in the treas
tatives; hold fast TO every ounce we can
get. and what will follow? In a few short
years the United States of America would
be the most powerful Nation in the world,
for 1t would have under its control more
of the precious metals. more OF the sinews
of war than any other can possibly ac-
quire
Let necessity for the expansion of our
currency arise. Could we meet it? Ger
tainly Increase II four-fold, and still
have behind 1t a reserve in gold and silver
equal TO any reserve our banks have ever
been required to carry.
Who should object to such currency?
Certainly not a friend of silver. for under
such system we could promptly take all
that would come and utilize in day IL
necessary ten times as much as our minis
could coin in a year. II is not ccin tie
public demands. Since 1878 the minis have
turned out more than 10,o0000O silver dol
lars The remainder lies buried in the
treasury. nearly all OF them represented by
paper certificates in circulation as money.
One thing more and our National cur
rency would be complete. Preserve orr
present silver coinage and silver certlfl-
Gates as we have them now, and let he
increase their values as tie
necessities of the people require, They arc
the money of tire masses. Let them re-
main such. Clear the field they should
occupy of everything else. Call in and
cancel every other note and coin OF de-
less than $40. and fill their
places with these mp to the limit required
for everyday transactions OF the great body
of our people.
SOUTH AND WEST CONGRESS.