Iron County register., 1899-09-14
INTERCHANGEABLE MONEY.
Framers of Constitution FOresaw
Financial Pinch to which
We Have Come.

Doubtless the trainers OF our consul
| tuition foresaw the possibility of just
such a state of financial pinch as the
great masses to-day are undergoing IN
this country, or they would not have
| designated both gold and silver as "a
| commodity that congress should have
power to coin as money But read as
one may, between the lines, and no.
where can it be reasonably concluded
that that instrument empowers con-
gress to make either the superior, or, in
other words, one redeemable in the 9TH
er. Both metals when coined under our
| constitution are irredeemable. Our
gold standard friends who really under
stand the financial question are fully
| aware of the fact that to make coined
silver redeemable in gold coin would
be fragrant violation of the constitu-
tional right in regulating coinage. Nor
do we apprehend that they seriously be-
lieve that the great mass of the voters
of our country would tolerate such Vi
| olation, even could a congress be elected
corrupt enough to attempt it. Is it
not, rather, reasonable that diversion
of sentiment is really more their aim,
so as to keep unlimited coinage of silver
from becoming a fixed fact? With the
present conditions all products are
measured by the gold dollar as effect
ually as if the silver coin were redeem
able in gold coin, says d. T. Stephen
son in the Mississippi Valley Democrat.
The law of supply and demand has en-
hanced the purchasing power of the gold
dollars; but let unlimited coinage of
silver obtain and the plenty of our cir
culating medium will as naturally de-
crease the purchasing power of gold as
will plentiful harvest cause the farm
ers' crops to sell at lower prices than
if there were a general crop failure in
all crop-producing countries. Policy ac-
tuates the money lender and the mil
lionaires and trusts and combines of our
country. A few poor trucking politi-
clans, who know better, dance to the
interest of the money power, some for
popularity, and some for what there is
in it to them individually. But the
mass of the votes that were cast in 1896
were cast from prejudice and blind
infatuation to follow certain "disgrun-
tied" demagogues, right or wrong. The
great mass of our voting population are
both intelligent and honest, and cor
rupt leaders cannot impose upon them
indefinitely. Nor will party name deter
or blind them when they see, and real
ize by experience, that those leaders
are wrong or knavish. True, a few, per-
haps, would vote for Satan were he
candidate nominated by their party up
on any platform. But not so with the
m q inrifX- What ha nf 10
day want is plenty of money; and that
good money. However, there is some
difference of opinion as to the methods
by which it can be accomplished All
agree that an interchangeable circulat-
ing medium is good enough, provided it
is one and the same in purchasing
power. Hence, when we say open the
mints to coin both our gold and silver
and issue coin certificates so that hold
ers of either gold or silver coins can
swap paper, dollar for dollar, or vice
versa, who will say that one dollar is
not as good as another? Of course ma
tional banks and millionaire money
lenders could not be expected to ap-
prove of such a currency, but it would
suit the great masses. No ''rock-ribbed
democrat who truly understands the
financial issues should have any desire
that there be any money redeemable
save that of paper issued by our gov
ernment. and let either gold or silver
do it, at the option of our United States
treasury, the same as the applicant can
choose whether he exchanges gold or
silver for the coin certificates. Free
coinage, sixteen to one, and coin GER
tificates would claim enough interested
voters in 1900 to carry the day and down
the money trust