The Farmington times. [volume] (Farmington, Mo.) 1874-1902, 1899-06-15
" SOUND MONEY"


4
standard.
Hypocrisy il the tribute that wet
pays 70 virtue" The worlds snlighten.
mrnt to-day will not sanction tyranny
aud oppression under genuine label
that diAcloses It's intent and purpose
Fair words and delusive phrases Of ne.
ccssiiy are used, like the livery OF
Heaven In the Erryiee Of the devil, Ia
bolster every scheme aimed at human
rights. Every prostitution Of govern,
'ncnt 10 private USES. every undue adj
vantage Of the few over the many.
everything done In public affairs that
would pull the handage from the eyes
OF the little goddess with the scales, and
fire her cheek with indignation. must
| be- done cuvertly in the name Of Justice.
Only with popular catch words M mot
toes can the great heart Of America be
deceived. Collectively, in the Interest
I Of the public veal, ". are honest. The
American people arr pioneers IN "of
the people and hy the people, and some
Of the untruddcn paths IN our front
seem equally alMring. and must be- ira,-
elcd and tried before wc know whether
they lead TO better aud higher ground.
1hts should cpipin US 10 patience with
Hii honest differences Of opinion, but
| hNpuCrisy deserves no shield In the
discussion Of money u will not do Ia
imputc dishonesty 10 all who use the
terms sound MONEY "honcst money, go
cheap money, etc, for IL would not be-
true. Vet honest people will take heed
~ what these terms imply, and see II
Injustice - mat being i,STade,i under liz
usual cloak
Sound money m"hns stable. secure
money. II means q basic money pro-
pnrtioncd IN the credit money resting
80 u. Was be base excessive with gold
and silver bath ~ standard money.
with two and half billions excess OF
paper money above the worlds SPECIE
II not, was the reduction If that base
10y nearly one half conducive To sound
ness II has been shown by trial that
the new base 10 too small, and has h.
bc supplemented Docs that demon.
siratc its suniclcucy? ls not the IN
souudncs- Of the present system exact.
~ measured by the narrowed gold H.
make 10 sound2 Would not further
reduction ni basic money be- doubling
the present weight Of the gold unit bs
further conducive So the spurious
suuudnoss cuntrudcd for II uniy quail
b IA
to br considered. why do We borrow to
incrcasr IN, base? 70 call that sound
finance thar projects q mountain of
credit money into the air, the cscgsa vt
which has no metal base whatever
seems Ia reverse all our previous con
repiion Of things. n this COCA" We
shall have ~ cudgcl our brains Ia invent
urw term for unsouudursA. II would
not do for the advocates ~ the new
theory to admit thai an exclusive gold
has" altered values by increasing the
purchasing power of money This In
the face of billions ot debt, would be
an admission that contracts had been
impaired, the legal right to do which
does not exist; but there are implied
admissions from which there Is no log
icnl escape.
The allegation that n return to bi-
metallism will make 'cheap money"
is an admission that the departure from
II made dear money. What becomes of
all the long arguments to show that the
gold standard had no effect to incrcase |
the burden OF debt ar lessen the price |
of land and H. products, IL retracing |
our steps by rcmonetizing silver viii |
make cheap money? The Use Of the
term cheap money" iB confession |
that money can he manipulated nS to |
Its value. II there are some who do |
rot see what the two contrary arru. |
luCnts imply. II will be shown more 1
clearly when reduced To its lowest
terms. viz, the departure from himctal- /
lism had no effect on values. but the |
restoration Of himeiallism viii make
cheap money and be calamitaus.
Were Il not for debt and credit.
money manipulation would bc without
an object and would cease. The sole
object Of metallic money is. that nature,
In the output Of the precious metals,
helps to limit the supply. This Is u
more positive restriction than mankind
have yet shown themselves capable Of.
Time will show the folly of disturbing
he old rrlntion, II restriction of coin
age makes dearer money for creditors,
he debtors who outnumbcr the others
len to one, when they learn the game,
will not, IL is feared, stop at 10 to I, |.
mt will initiate paper money to ruin.
'us extent IN retaliation. With the
money lords in hapless minority.
Sherr will It stop II IL useless "a
Irguc with those who contend that the
'nlue Of gold Is fixed and Interchangeable
Without regard TO its quantity or de-.
nana who prove It's stability by meas.
ring 1t by Itself. Nothing but a sur.
'icai operation would seem to help
'uch a ease. II their memories are not
90 short, they can recall the time when
he nations Of Europe made their cru
AIDE against the yellow metal; when II
saE demonetlzed In the German states,
1olland and belgium, and raile,l
gainsi as silver Ia now. and for the
anne cause. We must abolish debt. or
gain establish the money of the con
titution.
n. J. HAvENs.
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