Valentine Democrat. (Valentine, Neb.) 1900-1930, 1901-07-25
Comment.
Extracts From w. j. Bryon's Paper.


Different Kinds of Dollars.
George E. Roberts, director of the
mint, in an interview recently, referred
to the proposition that a mint be es-
tablished at Manila. Mr.. Roberts
said:
~ have heard nothing about the
matter since the adjournment of con-
gress, but / know that it is receiving
the attention of the war department,
which is obtaining all the informa-
ton possible on the subject. Army Of
fcers seem to favor the establishment
OF a mint at Manila, and an effort to
substitute American coinage for the
Mexican now in general use. There is
considerable opposition to this propo-
%sition, however, as it is certain that
any attempt to push the American dol
lar and redeem it in gold would pre-
cipitate commercial disturbances that
might result in disaster. Secretary
Gage is opposed to it, and 1 am in
clined to think that this plan will not
be adopted.
"Two plans have been proposed. The
first of these is to establish a free mint
at Manila for the making Of a Philip
pine dollar Interchangeable with the
Mexican dollar and redeemable at a
fixed price in gold. Under this plan
producers of silver would sell their
product to establishments having trade
relations with the east, which would
have it coined at the Manila mint and
put in circulation. This is the plan
adopted by the British government,
which coins an Indian dollar which
is circulated from the Straits settle
ment and has SO far been successful in
competing with the Mexican dollar and
the rupee.
"The second plan is to coin a token
dollar about the size of the Mexican
dollar with enough less silver to pre-
vent it from going to the melting pot
or out of the country, interchangeable
with the Mexican dollar, and redeema-
BILE in gold equally with Mexican COIN"
It is rather strange to hear that the
wal department is considering the es-
Enlistment of a mint. Surely we are
undergoing many changes. Heretofore
the treasury department has been
charged with affairs relating to our
finances; but under the new policy that
has sprung up in our ''land of the free
and the home of the brave" the war
department appears to be a mighty in
stitution, welding enormous powers,
and one whose bounds are controlled
by mo pent up Utica"
MI. Roberts thinks it likely that
some plan involving the creation of a
philippine dollar" will be adopted.
It will be well to look at this sugges-
ton seriously. The constitution gives
congress the right to "coin money, reg
ulate the value thereof and of foreign
coin, and fix the standard of weights
and measures" No one heretofore
would have dared to claim that con-
gress had the right to make one dollar
Tor n section and another dollar for
another section. Under the constitu-
ton no one will seriously claim that
such a right exists. It will not be
surprising, however, if the proposition
to create a "Philippine dollar" or a
token dollar" prevails. Authority
for this will be found, not in the con-
stitution, but in the decision of the SUI
preme court in the Porto Rican cases.
Under that decision congress, the crea-
ture of the constitution, has, with re-
spect to our new possessions, whatever
authority it may see fit to exercise en-
tirely regardless Of the fundamental
law.
When the val department., by and
with the consent of the president and
Secretary Ggge and a few other execu-
tive heads, sets out to adopt a financial
policy for the Philippine Islands, the
American people will begin to obtain
a hint of the ~far-reaching character of
the Porto Rican decision.
There are nc restraints upon con-
gressional authority in Porto Rico.
There are no restraints upon the war
power in the Philippine Islands.
If political interests require, the
time may yet come when we will have
one kind of dollar for the Philippines,
another kind of dollar for Porto Rico,
an altogether different dollar for Cuba.
a new-fangled dollar for Arizona, and
a patent-applied-for dollar for New
Mexico, while within the states, which
are the masters of these territories, a
wholly different dollar will be ''current
money with the merchant" and this
will be a ''sound financial system
one in which every dollar is as good
as every other dollar"-one in. which
the faith and the shonor" of the ma
ton are preserved, and the business
interests" Of the country are subserved.
In response to an invitation from
Tammany to submit a sentiment to be
read on the 4th of July, Mr.. Bryan sug-
gested the following:
Liberty is not safe without a writ
ten constitution, and a constitution to
be OF value must be strong enough to
control every public servant and broad
enough to include within it's protection
every person who acknowledges al
legiance to the flag"
When a Chinese bank fails the bank
officials are beheaded. When an Amer
lean bank fails the bank officials are
and express great surprise
at the failure. Bank failures are ex-
tremely rare in China.
Mr.. Hanna told the Ohio republican
convention hat "this is no time to ex-
pertinent with the tariff" Certainly