The representative. [volume] (St. Paul, Minn.) 1893-1901, 1899-05-18

dunn of our country. Call in all the
gold and silver coined, substitute green
backs for it, pay off our coin obliga-
tions and keep the surplus for interna-
tional commerce with nations who use
ceed upon a prosperous career. There
should be no scarcity of money in our
country. Money ought to be the easiest
thing gotten in the world. 1t was in
tended for mans convenience, and aid
in exchanging value, circulating me-
dium through and by which man could
trade with man. Our government ought
to make all the money it needs, and let
it direct to the people. 1t should be
loaning money instead of borrowing
that which it alone can make is ridicu-
lous. And yet it will have this to do
until gold and silver are displaced as
the fundamental moneys of our country.
We are helpless until we establish an
other basis of issue. We went too far
off in the generation of our financial sys-
tenn, for gold and silver, nor any other
metal should have been used for money
Money metallism is violation of the fun
damental principles and cardinal doc
trines of our constitution. There is no
equal rights in the use of metal for
money, but there must be the special
privilege of fixed price given it. To
fix the price of gold and silver is an in
justice to every other industry and is
subversive of the very intention of our
governmental compact. They should
be left to the law of supply and de-
mand to fix their value just as all other
commodities are. Our politicians have
gone about clamoring for an independ
ent financial system, and insist that we
price gold and silver without consulting
other nations, but that is entirely too
risky a scheme, for as long as we use
a commodity in the generation of our
financial system, that other nations use,
we are compelled to pay respect to the
valuation they place upon it. If we
price too high, they will sell to us, and
if we price too low they will buy from
us. But money must have fixed value
and it should not be made out Of any
commodity that speculation would af
feet. 1t should be staple and firm as
the rock of Gibraltar, so that no wave
of commerce could wear nor storm of
traffic shake it.
We could never know how to trade
with currency constantly changing in
value. We can never rest safely on
double or auctuating standard and l
challenge any statesman, political econ
omist, or financier, to give us an inde-
pendent financial system that guarantees
equal rights to every citizen of our
commonwealth, and that can be substi-
tuted for the old without loss to the
government, or to the individual other
than along the lines l have indicated.
l contend that the property of the
government is it's proper basis for credit
or money issue, and not the holdings OF
another so l can not see why we should
buy a commodity from another to make
our money out of. The gold and silver
coined into money does not represent
any increased wealth to our government,
because we have bought and paid for it.
It simply represents an outlay and this
process only furnishes a market for
these two metals.
Now as the standard of value. Labor,
always essential and staple, is the ulti-
mate and real standard by which all
commodities can be valued and COM
pared. A days labor by the average man
in tact and strength exerted in the pro-
duction of the necessities of life, should
be made the standard of value. This
will strike the mean strength, and will
give to every laborer just what he is en-
titled to, no more nor less. If above
the average he gets more for his labor,
if under the average he gets less, and no
man has the right to kick against this
order. Moreover, the profit Of the
earth is for all; the king himself is
served by the field" This standardizes
man, not metal, and places him where
he properly belongs in all governmental
plans-in the first place-for labor is
the true standard, the essential basis and
the only condition of wealth. Now,
as to the proper basis of issue. If /
give my note for specific sum of money
to be paid on a certain date, and fail to
meet it, the holder of said note proceeds
to realize from my holdings, and every
species of my property is responsible
and liable to sale to liquidate this obli-
cation. This being true in one case,
should be true in all cases, whether of
individuals or corporations, and no sane
man would expect to collect any debt
from another person unless this other
person had gone my security for the
debt and was therefore responsible con-
Jointly with me. The credit was grant
ed me on a knowledge of, or faith in,
my ability to pay, and the grantor knew