The midland journal. (Rising Sun, Md.) 1885-1947, 1900-02-16
The Leading Question Of the Hour.

adelphia Union League speech about the
first of February, 1900, furnished some
interesting statistics which he summarized
as follows
1--WE have seen that the growth of the
United States i'll manufactures has been
phenomenal; that its industrial product is
now equal to that of the three great in
dustrial nations Of Europe combined; that
it is one-half the product of all the rest of
the world put together, and is growing
twice as fast; that we are UNNECESSARILY
ahead Of all rivals in raw materials and
resources for future development; and
that with our superior appliances, we far
excel them in producing power man for
man."
In this summing up of the productive
energy of the United States Mr.. Smith
reveals fact which he did not choose to
dilate upon or in fact to mention, which
is that this country needs great deal of
money to conduct its vast business, which
amounts TO as much as that of the three
greatest powers in Europe. To properly
handle that amount of business we should
have as much actual money as the aggre-
gate sum of all those great nations. Have
we? Not as much as France alone in
actual circulation.
A nation possessing the tremendous
power. extent of territory and natural
resources of the United States, it would
seem obvious to the understanding of all
that such country ought to be able TO
establish its money laws independent OF
and without regard to the opinion and
wishes of any other nation under the
sun, and we certainly are
How should we go about it, using the
most simple, direct means? We coin all
the gold which is sent to the minis, but
when London bankers desire TO do SO
they have ii shipped across the Atlantic,
leaving us always prey or liable to be-
come prey to every money panic in
| Europe as we'll as those of our own coun-
try. The government could issue legal
tender currency as it did during the war
of the rebellion, sufficient to fill the chan
nels of trade, irrespective of all other
kinds of money.
We could turn our silver into the mint
and add to the volume of primary money,
say $Ioo, DOC, 900 annually. This would
be steady, gradual increase which would
create permanent revival of business
that would be shared by all in every line
of industry, very unlike the present
brand of prosperity, which is enjoyed
almost wholly by those who have abund-
ance to increase their store of wealth,
while thirty millions of farmers, includ-
ing their families, hired help, mechanics,
laborers, country merchants and all those
who depend on the farms for their sup
port. These millions are not sharers i'll
the trust prosperity their papers ring the
changes OH so loud and long Farmers
are not paying off their mortgages in this
or any other part of the country as these
sturdy liars of the monopoly press assert,
and never can pay them with wheat
ranging from IS TO 81 cents per bushel on
the Atlantic State farms, where the
highest price on the farms is obtained of
any part of the country.
But we hear the squeak of the so-cent
dollar man. This country could not keep
silver dollars at par with gold under free
coinage. 1t couldn't Ell? With volume
of business greater than that of half of
Europe, then why not (? What keeps a
nations money at par, one dollar equal
in purchasing power to any other dollar
in circulation 1t is the power of the
government and the demand for money
to exchange its products. Our manufac.
turers make everything in the known
world that the cunning hand of man can
form and fashion that is called for, and in
any quantity ordered, and for their pay
they accept any money the government
makes legal tender.
The world has to come to America for
silver and to the United States and Mexico
for the greater part When silver con-
verted into United States dollars of full
legal tender will buy in the United States
anything and as much of it as the whole
world wants, if need be, not an ounce of
silver would be sold.in the world for. less
than the coin value, while it would buy
as much as gold in the United States.
How long could or would Europe stand
that? How long could Europe stand it
before the rest of the world would paw as
much for silver as an American silver
dollar was worth in exchange for products
in the United States? Not day. Not an
hour. For the whole commercial world
knows that silver would go to par with
gold before the ink was dry on the Pres.
ident's signature to the bill The thing
is self-evident. Every law of business
proclaims it true. And the London Jews
would no longer rule our farmers wheat
market in Liverpool nor fix the price of
Americas silver in London, as they have
since 1873, when John Sherman planned
clandestinely the demonstration of our
silver.
The money question is to be the leading
question of the campaign of this year.
Let all prepare for it by studying that
question. The banks believe they can tie
the people down to the gold standard and
their paper money trust by driving Con-
gress to pass their outrageous law, take |
the money question out of the campaign
and settle it forever on their plan. Vain |