Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1900-01-24

these countries are steadily adding to
their stock of silver money, so that
there is no very great stock of un-
| coined silver bullion in the world.
while the greater part of the annual
product is absorbed by silver basis
nations and used in the arts, so that
it is probable that the amount of sill
yer which would go to the United
States mints for coinage would be
no more than is reasonably necessary
to keep pace with the growing popu-
lation and expanding commerce. This,
however, is the problem involved in
the contention to be made by the re.
publican party.
The monetary conflict of the ages
has ever been, is now and ever will
be a battle between the commodity
money idea and the true monetary
principle of full legal tender, incon-
vertible paper money. The opposing
theories are, on the one hand, the
idea that money is wealth and should
possess the value betokened by it's
monetary denomination, apart and
aside from its use as money. Hence
the silly arguments anent the ham,
mer and fire tests. On the other hand
is the theory that money is not and
should not be wealth, but that it is
simply medium of exchange, a tool
of commerce and legal universal
solvent of debt, which should be Gre
ated of valueless material and not of
any valuable commodity. Both the
old parties are commodity money par
ties.
But the Nemeha (Neb.) Granger,
doubtless having in mind the populist
supporters of Mr.. Bryan, says:
1T has frequently been asserted
that many of the advocates of free
silver coinage at the ratio with gold
the rehabilitation of the white metal,
but that fiat money pure and simple
was the end toward which they were
aiming. His assertion is given color
by the latest interview given out by
ex-Gov. Altgeld, who, next to
Mr. Bryan, is perhaps the foremost
champion of the free coinage policy.
In response to the question, What
will be the status of silver in the year
2000?" Mr.. Altgeld said:
From present indications both
gold and silver will pass out of use
as money and will be supplemented
by philosophic or rational circulate
ing medium and measure of value.
The absurdity of making the worlds
industry, prosperity and happiness
depend upon the accident of mining
| is already attracting the attention of
| all thinking men, and the still greater
| absurdity of having a large portion of
| the energies of the human race spent
in digging something out of the
ground that shall be- a mere measure
of value and be in itself of no earthly
use to any human being, when the
government. under proper regula-
tions and limitations, could furnish
the country circulating medium and
measure of values that would cost
practically nothing
This is in essence the fiat money
doctrine"
But why should those who believe
| in scientific monetary system seek
to prolong the metallic reign by re-
| storing to power the silver king who
has been deposed from his place of
power by the side of the king of gold?
Why unite the gold and silver inter-
ests in combined opposition to mon
etary reform? Would it not be the
better part of wisdom to let the twin
frauds fight out their battle of the
standards and have the third party
declare for full legal tender, incon-
vertible paper money, and make
manly. open fight for what they real
ly want, rather than assist in re-
establishing the very theory they are
desirous of seeing overturned and
destroyed? If not, why not?
GEORGE C. WARD. !.