The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1900-06-08
MANAGED CURRENCY.
Two Theories Of Regulating Money
suppiy-Currency LAW Recently
Passed NOt sound.


There are two theories of regulating
money supply. One is called the auto
natic theory, which rr.cgates the whole
matter to the prod'4ctiveness OF the
mines, maintaining open mints ana
coming all the gold and silver mineoat
n fixed ratio. Under this system the
amou Mt Of money, and consequently its
value or purchasing power, would de-
pend upon and vary from time to time
with the productiveness or ronproduc-
tiyeness Of the gold and silver mines OF
the world. This system was in vogue
from time immemorial down to 1873
when the movement TO eliminate one
of the metals by law was entered upon.
The republican party in recently de-
claring for the single gold standard
and unlimited bank imitation has de-
clared for the most pcrnicious system
OF a managed currency that the world
has ever known. The law which went
into effect on the 14th of March confers
upon the maj ional banks absolute power
70 manage the currency and manipu-
late prices, aud thus confers upon them
despotic power over allindustrial forces.
This currency law is the most reckless,
uuscientific and dangerous ever enacted
by any government in any age OF the
world.
The demand on the part or the
worlds creditors that silver be demon
cited and that gold alone remain
money metal was a demand on their
part for the abandonment OF the au-
tomato system and the substitution OF
managed monetary system. 1t denieu
the soundness Of the System by which
money supply was furnished automat-
ically through the workings Of the gold
and silver mines, and demanded that IL
be managed by law so that only one
metal could be converted. into money
instead of two. This destroyed one
half OF the automatic system and re-
tanned one-half
Following the attack upon silver the
worlds money supply constantly dl-
minished for a quarter OF a century
during which time the worlds price
level fell more than so per cent, there
by unduly and unjustly adding value
TO the worlds debts. taxes. money opii-
cations and annuities of all kinds, ana
correspondingly increasing the bur
dens of debtors and taxpayers. This
move was promoted by, and clearly in
the interest Of. the worlds greatest
creditors and bondholders, who used
their influence to extend the gold stand
ard over additional states and nations
as fast as they were able to do so, and
whose work had reached alarming ana
distressing proportions when the down
ward movement in prices was cReckeu
nv the contemporaneous discoveries OF
large gold deposits, and the cyanide
process. which greatly reduced the cost
Of its extraction.
The success of the bankers, money
mon gers and iugglers in filching wealth
from the people through the maniPu-
lation Of currency laws has tended 10
make them stron ger and boldcr until
In all nations they have fortified their
extraor;iinary demands by vast eNpenc-
itures OF money TO procure legisiauon
in further ance of their scheme. Ihis
has resulted, through "A period OF -
wears. in enabling the bankers ano
money dealers TO amass fortunes thai
staggcr the Imagination. while th'
great mass of mankind everywhere
have suffered under the whitening effec'
of a contracting money volume.
II will be seen that the demand for
managed currency came from I'M
bankers and money lenders. who de
manded that they be allowed to man
age il in the interest of their invest
ments. A managed currency, under IN
laws leveled against silver, meant
contracting money volume and dea
gold. L. meant that dollars should con
: stantly grow larger, while the asset
; of debtors and taxpayers should CORE
spondingly shrink.
: The demands of the bor4lholdcrs an
+ money mongers and he success Q
their plan of management. in enab'in
: them to unjustly gather into their col
fers The wealth of theworld, develope
: another school " no demanded that IN
! currency should also be managed, bu
be managed in the interests OF tn
, whole people. SO rs TO protect their II
c terests. and that its management Y
, not conferred upon bankers as mean
Of enabling them 10 plumber societ.
. The school who demand managed Gu
rency in the interest of general societ
Is represented in the demands OF n
populist platform as above reci'ed.
In the United States to-day all thrt
OF the schools are represented. TT
J republican party represents the d
mand for n managed currency in IN
interests OF creditors and money LEM
ers. The populists demand manage
J, currency in the interests Of general s.
4 cie.y, and the democratic party q
|. mands a return TO the automatic sy
!. TEN whereby the volume of currency
d dependent upon the yield OF the go
q and silver mines, and that al suppl
' mentary paper money be issued und'
q the authority of the government, ~
although IL may be made legal tend'
it's quality must be so restricted thu
n - " -