The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-01-25
regard to party, agrees to this proposi-

regard to party. agrees to this PROPOSE
lion. We must have a paper currency,
and OF sufficient volume for the needs
OF great and prosperous people, with
many and varied interests Those who
believe in the principle indorsed at the
polls In 1896, together with those who
accept the verdict then rendered as OF
binding force. agree that every dollar
OF paper currency must be redeemable.
directly or indirectly. exchangeable or
controvertible, at par for gold The
value or every dollar of the United
states money, whether OF coin or paper
currency. must be the equivalent OF 25.8
grains of standard gold. The gold coin
must be the touchstone. the test, the
measure OF value of every dollar by
whomsoever Issued or howsoever ex-
pressed. This paper currency, the vol
ume OF which must be co-extensive with
the needs OF the country should all be
Issued by the government or by the
banks. The time has passed by when
the government should issue a part of
the paper currency (other than coin
certifcates) and the banks a part.
This currency must be elastic. There
Will be no more half bushels needed I'm
the south on thrashing day than will be
needed seeding day. The same thing Is
true OF the east and the west and the
Pacific slope The monetary system
that shall stand the test of all time
must be automatic in it's operations
Wherever the demand exists there the
currency must spring up in volume
suiiicient to meet the requirements of
trade and commerce. This can be ac-
compished only by clothing the banks
with power to issue. Then a small tax
should be levied upon the circulation
to protect against dangerous imitation
beyond the needs of the country. and to
insure contraction when the demand
ceases.
The government cannot provide any
such automatic safety valves to regu-
late its own issue. Every financial po-
litical agitation engenders a mania on
the part OF the people for boarding and
every manifestation of disposition to
hoard produces political agitation
along financial lines. Every such agi-
tation in turn paralyzes commerce and
tends to throw the balance OF trade
against u.s. This. in turn, depletes our
stock OF gold, and this again intensifies
all other evils All these tendencies are
likely to become epidemic and are sell
dom understood or attributed to the
melting cause. The most unfortunate
phase of it all is the fact that the gov
eminent is powerless to relieve. 1t can
not replenish It's treasury, as we have
seen. except by loan and an increase
Of the interest bearing debt. The gov
eminent is like the individual. 1t can
not raise money except on assets, and
having none on hand II issues bonds
extending over a long period of years.
and thus imposes new burdens on the
people. This is given widest publicity
and intensifes the evils rendering the
expedient necessary
THE fact that the interests at stake
In this movement are financial, indus
trial and commercial will justify no less
care than If they were political. The
country has learned that capital cannot
be coerced into activity. 1t can be in
vited. but 1t Is extremely shy. When
II does venture forth 1t Is only when
the coasts are clear and the agitator Is
at rest =
THAT you represent something be-
sides; the names your parents gave you
will mot initiate against such recon-
mendations as you may be pleased to
submit Whatever the country may
tfinktof the banker. 1t thinks well OF
you9sYour interests are In common
with, those of the people generally. The
fact that you have more involved than
some will only insure greater care I
think II was Colonel Ingersoll who said:
1t requires a great degree of patriotism
to induce a man to shoulder musket
in defense of a boarding house I
would only urge that you be thoughtful
brave and true. and the people will be
with you