The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1899-06-16
SOUND MONEY"
Fair y. ords ana Deiusise Phrases OF
tae Advocates oi the Gold
standard.

49, ~ -
PAYS 10 virtue The worlds c~nlighten-
ment to-day will not sanction tyranny
and oppression under a genuine label
that d~iscloses its intent and purpose.
Fair words and delusiye phrases Of ne
cessity are used, like the livery OF
Heaven in the service of the deNi, TO
bolster every scheme aimed AT human
rights. Every prostitution OF govern
ment 10 private uses, every undue ad-
vantage of the few over the many,
eserything done in public affairs that
would pull the bandage from the eyes
of the little goddess with the scales, Il
fire her cheek with indignation. must
be done c~overtly in the name of justice.
Only with popular catch words as mot
toes can the great heart of America be
deceived. Collectively, in the interest
of the public veal, we are honest. The
American people are pioneers in "of
the people and by the people, ard some
Of the untrodden paths in our front
seem equally alluring, and must be tray
eled and tried before we know whether
they lead TO better and higher ground.
This should enjoin us 10 patience with
all honest differences OF opinion, but
hypocrisy deserves no shield. In the
discussion OF money ii viii not do to
impute dishonesty TO all who use the
terms sound money" .honest Money
cheap money etc, for il would not be
true. Yet honest people will take heed
Of what these terms imply, and see If
injustice is not being paraded under its
usual cloak.
Sound money means stable, secure
money. 1t means a basic money pro-
portioned 10 the credit money resting
: On il. Was the base excessive with gold
and silver both as standard money,
, with two and a half billions excess OF
: paper money above the worlds specie?
II not, was the reduction of that base
I by nearly one-half conducive to sound
I ness? 1t has been shown by trial that
/. the new base is TOO small, and has TO
I be supplemented. Docs that demon
: stsato its sufiiciency? Is not the un-
e soundness of the present system exact
= IL measured by the borrowed gold 10
: make il sound? Would not a further
: reduction Of basic money be doubling
e the present weight OF the gold unit be
I further conducive 10 the spurious
e s~oundness contended for? If only quail
q itv and not quantity Of basic money l:
y 10 be considered. why do we borrow L
n increase the base2 To call that soune
"a finance that projects a mountain O
Is credit money into the air, the excess o
n which has no metal base whatever
4 seems to reverse all our previous con
ception OF things. If this goes "
~ shall have to cuogelo our brains inven
. a new term for u~nsoundness. IL woul
~ not do for the advocates OF the ne'
theory 10 admit that an exclusive goi
~ base altered values by increasing III
IN purchasing power Of money. This. y
~ the face of billions of debt, would b
ID an admission that contracts had bee
lc impaired, the legal right 10 do whic
Of does not exist; but there are implie
lie admissions from which there is no log
K ical escape.
The allegation that a return 10 b
n mctallism will make cheap money
- is an admission hat the departure fror
] IL made dear money. What becomes Q
AZ All the long arguments to show that th
II. gold standard had no effect 10 incrcas
cL the burden of debt or lessen the pric
be Of land and its products, if retracin
al our steps by remonetizing silver wi
a; make cheap money? The use of Ii
nc term cheap money is a confcssio
IL that money can be manipulated as
its value. If there are some who q
not see what the two contrary argl
ments imply. il will be shown mol
49, - ..l., ,n1nr.1 IN ffE loves
=" terms. viz. the departure from bimeta
lism had no effect IN values. but u
restoration Of bimetallism will NAL
he cheap money Inc be calamitous.
M Were il not for debt and crcdi
money manipulation would be witho'
\ an object and would cease. The so
IRE object Of metallic money is, that natur
in In the output Of the precious metal
he helps to limit the supply. This Is
a more positive restriction than mankir
Iad have yet shown themselves capable {
lr, Time will show the folly of disturbir
The on relation. If restriction Of col
by 2 makes dearer money for creditor
lei. the debtors who outnumber the othe
on. ten to one. when they learn the gan
viii not. II is feared. stop az ~ TO
red hut will initiate paper money TO a run
the Il extent in retaliation. With I
use money lords in a haplcss minori'
ant where will it stop? II is useless
cd argue with those who contend that I
.er. value Of gold is fixed and unchangeal
ion without regard 10 its quantity or
red mand, who prove its stability by me;
uring 1t by itself. Nothing but a s.
,ps. gical operation would seem TO h'
ed. such a case. If their memories are \
,rn too short. they can recall the time VIII
80 the nations of Europe made their G.
sade against the yellow metdl; wher
~, was demonetized in the German stat
Holland and Belgium. and raj
against as silver is now. and for
"a. same cause. We must abolish debt,
.,.. again establish the money OF the G.
stitution.
n. J. HAVEN.
Tsme e DO Something
A.. Ng;~ms-Nary IL was