Mexico Missouri message., 1899-12-07
A BAD MEASURE.
"Quantlty of Money" and
Not "Kind of Money" Is
What Is Needed.

was asked his opinion the other
day of the proposed gold standard
bill originated by the Republicans
in Congress. Mr.. Caldwell is u
practical banker, and his opinion
is especially interesting. He says
the bill is conspicuous in
stance of c'ass legislation, and
he hits some center points in the
following:
"In my opinion, the title of the
financial bill prepared by the Re-
publican Caacas Committee is mis-
leading, because, instead OF being
"a bill to define and fix IA standard
Of value its object, pure and sim
pie, IL t. a,ten the in lie gold stan
dard OF mon'y molc firmly un the
nation. 1t proves 10 the East that
they rrectly interpr, ted the r..
publican platform Of 1886, while
with Larefacrd plainn IS 1t tells TN I.
bim~t, isis Of the Central anl
Western STATES that inlcrna'i al
Limet.Ilism, as used in that plat
form, meant nothing, aud WIS S m
ply ms rt as sop with which
t. catch votes. Had The bill been
PREPARED by the same number of
national Nalk presidents as cons l.
tutca he Ca icuS Committee, l.
wuu, d npt have len male apy
more acceptable to the national
bank>. II not IN Y permits the in
crease OF circu alton from 80 cents
to 100 tnts on the dollar, but it des
or 'a'cS thr tx II III capt. |, sur
Plus IN und.vIe prof S OF ma.
al an S 80 OnC.tii'u r. p r
cent pr D., uu d
"!Jad h ~ o"l e co. of tlr
H'i b. ire ar ! Y . comm.t g
reVrrs' ng h are Ia | J. rs o.
Un't.'d States bund-, it. couli Hot
have been maize more in their in
trrest, because it leih rAtcly
r-achc- back aud makes al. the coin
bonds heretofore issued payable IN
gold. Ina'mHch ,s al int. rest
bo-ring obligations # tue Unilel
Stat.s now command a premium
| this course IS not uccpss irY to keep
these Obligations oG u Earty with
gold. If done for that purpose,
then it is proper that the commit
tee attempt to demonstrate that
such an enactment is for the Denc.
| fit of others than the hO'derS ofSuch
| bonds The committee in lis re.
port does not attempt to show that
such an enactment is necessary 10
| the cStabIish shment Of the single so d
standard, and in the absence OF
such attempted proof, and with Ill
| United States bearing Obligations
commanding IL premium, the inrvl-
table aud only conclusi II is tha
it IS !Or the sole benefit f tn own
rrs OF suah obligations. a piece
OF more distinctly class legi>at on
than this bill could not have b,,n
dcvi, ed.
"ln connection with tn stit =
ment Of the cD1mittcrac.. mlpnN-
IN! tn Ii.l that tn" Mind Of mon
ey in vh,ch pymcnt' sh Il he
ma le will IA ely, # oNcr, b. tnc
Subject Ofdispu'c, i Propc; tC
state that, taking inlo c n>id ra,
ton the forts # ; c'rra"y Gag,
to buy Gov, rument bond, to r.
licve the tightenel AMI 1T time,
almost pan ciy conltrOi OF the
money mark t, il wOuld cnluc,
to better man ia % e o 5,
espt tcHlly to p ISOn, # meluI
AMI sna me n ., if more at g tn
wee p il t. qu"t t. III t,
Kind # money.
"Tp.Gay there is mDrr Discus, OF
by the business mn of 'klud o
none, g, for the r'.soI t. at "a
, hni # m"ney pa .,tqua y RE Q
wnIlc t'ir in ufli cUcr Of h :, c
retry of the rr NV.
TIN, bal doe mo- "a mp f.
increase the ciryulal 80 Of t.,