The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-08-20

5sA 80 N
uniform financial policy to advocate
| in this day of advanced thought and
| learning. but this is the one planned for
| by orr forefathers and what Democracy
means and Organism stands for today,
| and is one the common people can UNI
| derstand. and will not cost as half as
much expense and wear and tear to
maintain as the present system and
no company or combine or trust can
use the government under this system to
| tax or defmud the people. This would
make all banks national, all paper mon
CIV national based ON unit bullion de-
post, and all banks pay the same rate
| of tax for the privilege of loaning their
own and depositor's money. The man
| or set of men who happens to chose
| banking for their business are no more
entitled to fayors of a special nature at
either the hands of state or national
Governments than the man or men who
would engage in manufacturing indus
traes. Progressive thought has already
and will continue to rebel at the idea of
the money changers having any great
er business privileges than the pro-
lucers of money. The issuing of the
United States bonds on the war debt
was the beginning of the present system
of National Banking and was the laying
| of the corner stone of the trusts that
are now destroying and sapping the VI
| falls from the industrial interest of
this country, and was the god
| father of the Gold Standard or
money trust which began to form
when our war debt was made pay
| able in coin, that carried the legal unit
| and was finally legislated in to the
| Gold Standard dollar. which is more
| particularly crushing the life blood from
| the agricultural classes of the world than
| any other class and ON this class de-
ponds the fabric of human life and CON
| tentment
| Some of the curious things we see
these days in print are in such papers
as the New York World offering in its
| editorials such suggestions as appeared in
| that paper on July 18th. last, the World
| says: There is demand for more money
| in circulation to do the business of this
| country. thete is more gold in the Treas
ury and vaults locked up than ever was
| known, yet the country Is suffering for
| lack of currency to transact its inn
mensely increasing business. The banks
| will not increase their note issues be-
cause at the present price of bonds there
| Is no profit in doing so. The value
| of Government promises to pay cam
not be increased because that would
| be fat imitation, pure and simple" Lis
| ten to this Gold Standard advocates plan
| for the increase of the currency. Oh,
| consistency, thou art jewel. OF course
| the gold is boarded and held in the vaults
| and Treasury and held there because a
| single standard makes lit possible for
| them to do 1t. and makes II possible for
| them to hold on until they can compel
/ the agriculturalist and the mechanic to
| take just as little of it as the gold boar
| der sees fit to- allow him to have for
| the result of his labor whether on the
| farm or in the shop: The World goes
ON stating There is only one way in
] which the volume of paper currency can
| be safely swelled to meet the coming
autumn demand for paper currency, and
| a curious timidity Of tradition plus polit-
| zeal cowardice prevents resort to that.
| The law provides that the Treasury
| may receive deposits Of gold coin and is
| sue against Them dollar for dollar Gold
certificates exchangeable on demand for
| Gold deposits" Yes, so can the Govern
ment issue Gold certificates for gold
| bullion ito its full unit value just as that
same law provided it could also issue
| both gold and silver certificates to the
| fun unit value of the bullion deposited
| before the unit was stolen from the sill
| yer bullion. Now listen to the World
| quoting, Bryan and Bi-metallism doc
! doctrine: 'To do this would not add one
dollar to the public debt, it would not
| by one dollar increase the Treasury risk
| it would not initiate the currency by one
| dollar, it would simply put the gold
| boards now held by the banks in con-
| venient form for practical USE" Does
/ the World have any idea the banks OF
| gold men want all this gold in practi-
| cal use, or in circulation any more than
| they want all the silver in circulation, sc
| they would have to give more of it up
for the -four they buy, the clothes they
wear or the lumber to build their house
which they would have to do if they put
it into practical use. They will never do
it until the silver unit which was our
second bidder comes in the field for its
half Of the work and compels them to
| do it. This is not the first time the
World has convicted iself, and it should
quit bowling about Bryan dropping BIZ
| metallism if he would secure the NOM
nation in 1900. Why don't the World
| get off the fence? For as sure AN Daniel
| interpreted the hand writing ON the
wall. to read that Beltshazzar had been
| weighed in the balance and found want
| ing, so has Mckinley and the Repub-
| lican party, so was the World when ii
| supported Buckner ON the Gold Stand
aru. If Bryan lives, he will not only be
| the next nominee of the Democratic
| party, but he will be the next Presi-
dent of the United States, and viii give
the toiing masses of this country the
l'second bidder for these work by restor-
ing the legal unit to silver.
] would like the readers of your val
uable paper to do little thinking along
these lines, it is like the copper tipped
shoe, it is simple, it is easy, and the
more you kick the gold bug. with tit,
the better you will be pleased with its
/ wear.