Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-01-16

commercial and financial center. But
in order to do this we must have as
good money as our European competi-
tors. And what characteriZes good
money? I answer, certain and ready
eNclangeability. A due bill will re-
main at par so long as It's maker main
tains its exchangeability for legal
funds at par on demand; and it will
go to discount whenever exchangeabil-
ity fails. Silver is as good as gold
only SO long as it can be exchanged at
par for eold. The principal objection
made by those who contend against
on the fact that eSchangeability is in
no manner provided for, and it is be-
lieved that left to themselves gold and
silver coin will fuctuate in value. The
government should, 1 think, maintain
the exchangeability of all its issue,
Whoever has gold and prefers silver
should have the absolute right to de-
mand it in exchange. Whoever. has
silver and prefers gold should have the
same privilege.
The holder of greenbacks or treas
ury notes. should have guaranteed to
him the absolute right of exchange for
any kind Of money that Will better suit
his convenience.sq sd3 tla 4oa
The first steps am: the ridiyection of
gold boarding is aps pprehe4sion that
in some way or by some means it will.
command d premium. There certainly
can be noybet teraway to- Safeguard the
treasury than ste, aauara ntea neNchange
ability. cagvsse no i9ersAse danger.
by expressly providing FOR the eX-
change of silver, for gold, and of gold
for silver, than inheres to the propo-
sition for the redemption of greenbacks
and treasury notes in gold. The prop
osition is logically correct. Tt is reas-
enable and right. The government is
sues ten dollar treasury note for sill
yer enough to coin twenty silver dol
lars, and provides for the redemption
of the treasury note in gold. The
transaction is as tho the government
paid ten dollars in cold for silver
enough to coin twenty silver dollars.
What tho it coins only half of this?
The profit in the transaction is repre-
scented in the seigniorape and is held
in the treasury. Is there any good rea-
son why the government, having made
the first exchange, directly or Indirect
L. of gold for silver bullion, should
not make good the interchange of the
l lion d ea as ~ s etusls s sEsr eq hs
redeemed-silyer coin, plus its complies
ment of seigniorage, will sell on the
na fhsrsf esin SgS aR,ags Why il sg ID
government should not protect its ey-
erv issue of circulating medium by ex-
press provision forSifs Redemption or
exchange on, demandefor any kind of
money! that the holder may desire.
such a provision would be notice to
the commercial world that every dollar
of United States money is the equiya-
lent of, and that it can be exchanged
for, 25.S grains of gold, and would
make draft on New York as accept
able at the clearing houses of the
world as one on London.
Trusts.
There is one other subject which to
ignore in an address on themes of pub
lie policv, would be considered bad
manners. l refer, of course, to the
question Of trusts. Advanced civiliza-
ton, improved opportunities and great
achievements have been accompanied
with some ills to which all former gen
erations We're strangers. There is no
good that is not matched with evil.
There is no heighth without CORE
ponding depth. The marvellous wealth
that has been accumulated in recent
years thruout Christiandom has not
tended to an equalization of either
comforts or Injuries. The distance
| which separates the grossly rich from
the wretchedly poor has increased as
human opportunities have multiplied.
| Equality can be found only among saw
ages. Conditions permit of no rivals
among Patagonians. Travellers tell us
that there all wives dive into the frozen
seas and catch by hand the fish for
| their liege lords and children, and
there are no castles or classes or social
distinctions, for all eat their fish sun-
cooked. But let a spelling book and a
new testament be dropped in among
these people and all will be changed
| What we call advanced civilization
does not tend to equality. This fact is
think, universally regretted. So dc
not speak in justification, or approval
but | state facts as see them; that
seeing, we may be able to do the best
we can to right wrongs, to remedy
evils. and to make the pathway
smoother and the burden lighter fol
| the less favored.
| Within the memory of not only oul
centenarian friends, but of many il
the audience, there We're no eNemp
tons from taxation. no exemption.
from execution sales, no statutory pro
visions for the protection of home
steads. / doubt not there are thos,
present who have seen the last COW
| the last pig, the last stick of wood, TIL,
last bushel of grain, and possibly tn,
bread bowl taken by the sheriff in sat
'|isfaction of debt. The people wer,
all poor, and it occurred to no one Il
suggest protection for the weak. Al
wealth accumulated, Legislators begaI
|deyising means of protection for tn,
less successful. With wages at 5,
cents or less per day, and payable il
II