The representative., 1900-04-12
BRIEF BUT POINTED.

The following is from the trenchant
pen Of Charles M. Walter, of Indianap-
oils, Ind, candidate for lieutenant gov
ernor, and covers more points to the
stick of type than anything we have
read for some time:
The money question has no middle ground.
Either 1t Is right that money be based
on the material of which 1t is made and
depends upon such material for It's face
value, or it Is right that money be based
upon the fat of the government that issues
1t and has no actual value save as cir
culating medium Of trade. Our gold stand
ard and bimetallic friends take the former
position, and we take the latter. Our RE-
publican and Democratic friends claim that
the dollar must have it's face value in the
material of which it is made or must be
redeemable in money the material Of which
Is equal in value to the face of the coin.
In it's practical application this reduces all
trade to mere barter and is a theory origin
ating among uncivilized people 1t is not
only, barbaric in Its origin but is without
foundation in reason or good sense. The hat
theory of money Is born Of civilization and
is the child of education and good reason.
No man who considers 1t in an unprejudiced
way and has the ability to reason as to the
most common principles Of government can
deny that all money Is the creature OF law
and depends for its monetary qualities upon
the law. Not one single writer on political
economy has ever dared take any other po-
sition since the dawn of the eighteenth CEN
sAury. 1t is true that q few nincompoops
and t0adies like Prof Lawrence have sought
by sOphistry to evade the force of this rea-
eoning in the selfish interests Of the great
capitalists Of the world. but even these
have not dared to deny the great funda-
mental proposition that money is the crea-
ture of law, This being established the nom
sense at once appears Of using . costly
material for money. Economy and good
Judgment certainly dictate that the best
money maternal 10 that which 10 most easily
power issuing It. UnQuestionably this
would be paper. Its convenience and the
dffnculty Of counterfeiting, the lack Of loss
from wear and tear make It Q model money.
Its basis is the law back Of which Is the
government issuing 1t with all its wealth.
1t thus becomes at once the best money
and the most desirable az . medium Of
trade. Its fexibility to the wants Of busi-
ness Is apparent to the most unthinkfng
Its stability and freedom from fluctuation
In the markets is dependent upon the gov
ernment, while 1fKe asJpply of gold or Of
gold and silver must ever depend upon the
mere accident of chance in discovery of the
metal. No man can predict what will be
the supply of the next year or even of the
next month. Science and sense Is without
employment in discovering gold or silver
The miner goes out in the spring and pros
poets throughout the summer. Possibly he
will find a mine; possibly a paying mine
but it is an accident If he does, for no law
Of nature nor discovery Of science directs
him. Nor can man divine how long even q
paying mine will yield in paying quanti-
ties. Thousands fail to hnd pay dirt" to
one who succeeds. Would you act with such
lack of judgment in the supplying of food
or clothing? Yet under present conditions
money is of little less Importance than
these. We seriously doubt whether the hu-
man family could exist in anything like
such large numbers without money. Yet we
continue to act with such utter lack of
the least common sense In supplying our
selves with this very life blood of COM
merce. Let us act with sense.
In the foregoing Mr.. Walter does not
require the space of Coins Financial
School" to cover the money question.
When he has covered the question he
stops short and the gist of the question
will be found in these brief lines. No
coin redemption twaddle goes with him.
1T doesn't require 1.-Two Yumps" for
him to reach with both feet the safe
platform of scientific paper money.
=. A. T.