Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1899-06-15
The Monetary Problem.
EsssssssssssssessSsssss ssssaeseeessseEesss
g SOUND MONEY!
Fair Words and Decisive Phrases OF
the Advocates Of the Gold
Standard.

Hypocrisy is the tribute that vice
pays 10 virtue The worlds enlishten-
ment to-day viii not sanction tyranny
and oppression under a genuine label
that discloses its intent and purpose.
Fair words and delusire phrases of ne
cessl1y are used, like the livery of
Heaven in the service OF the devil, 10
bolster eEery scheme aimed at human
rights Every prostitution Of govern
ment 10 private uses, every undue ad-
vantage OF the few over the many.
eTery1hiHg done in public affairs that
would pull the bandaee from the eyes
OF the LITTLE goddess with the scales. and
FIRE her cheek with indignation. must
be done covertly il 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, and some
Of the un1rodden paths in our front
seem equally ailurIng. and must be trav-
eled and tried before we know whether
they lead TO better and higher ground.
all honest differences of opinion. but
hypocrisy deserves no shield In the
discussion OF money it viii net do TO
inpute dishonesty to all who use the
terms sound money!. honest money!
cheap money, etc. for II would not be
true Yet honest people viii 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 II means a basic money pro-
poruoned TO the credit money resting
CT 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
by nearly one-half conducive 10 sound
ness? 1t has been shown BIZ trial that
the new base Is. too small. and has TO
be supplemented Does that demon
strate its suffciency? Is not the IN
soUndness OF the present system exact
IL measured by the borrowed gold &c
make il sound? Would not a further
reduction of basic money be doubling
the present weight of the gold unit be
further conducive 10 the spurious
soundness conTended for? If only quail
i1y and not quantity OF basic money Is
to be considered. why do we borrow 10
increase the base? To call that sound
finance that projects & mountain OF
credit money into the air. the excess OF
which has 10 metal base whatever.
seems 10 reverse al our previous con-
-
shall have 10 cuGGel our brains 10 invent
a new Term for uESoundness- Il would
not do for the advocates Of the new
theory 10 admit that an exclusive gold
base altered values by increasing the
purchasing power Of money This. IN
the face Of billions Of debt. would be
a admission that contracts had been
IMPAIRED. the legal right 10 do which
Goes not exist: but there are implied
admissions from which there is no leg
zeal escape
The allegation that return to hi
neJailism viii make cheap money
is an admission thai The departure from
i made dear money. What becomes of
all the long arguments 10 show that the
gold standard had no effect 10 increase
The burden Of debt or lessen the price
Of land and its products. If retracins
our steps by remonetizing silver VIII
make cheap money? The use of the
term cheap money Is confession
that money can be manipulated as 10
its value II there are some who Go
not see what the two contrary argu-
men1s imply, il viii be shown more
clearly when reduced % its lowest
terms. viz. the departure from bime1al
ism had no effect On values. but the
restoration of bimetallism VIII make
cheap money and be calamitous-
We're il not for debt and credit
money manipulation would be without
an object and would cease The sole
object of metallic money is. that nature.
IN the output OF the precious metals,
helps 10 limit the supply. This is a
more positive restriction than mankind
lave yet shown themselves capable OF.
T5Ene viii show the folly of disturbing
the old relation. Ifres1Tiction Of coin
age makes deartr money for creditors,
the debtors who outnumber the others
ten 10 one. when 1hey learn the game.
viii not. II is feared. stop at 10 to J.
bat VIII initiate paper money 10 ruin
Gus extent in retaliation With the
money lords in hapless minority,
where viii 1T stoP2 Il is useless &c
argue with those who contend that the
value of gold is fixed and unehang ea bic
without regard TO its ouan7ity or de-
nand. who PROVE its stability by meas
uring II by itself. Nothing but a sur
rical operation would seem to help
such a case If their memories are not
100 short. they can recall the time when
the nations of Europe made their cru
SADIE against the yellow metal: when il
was 6emone-ize6 IN the German states
Holland and Belgium. and rallied
against as silver IS now. and for the
same cause We must abolish debt, or
again establish the money Of the con-
sti1ution-
H J. HATENS-
since webxter.S Day
Daniel Webster said al Saratoga in