The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-11-24
coon NEWS FOR ELASTICIANS.
Col. Posey wilson Invents an Elastic cur
rency Truly Elastic.

Coi. Posey wilson InNents an ttas'tc su''
rency Truly Elastic.
To THE EpI1oR or THE Sun Sir: The
elastic currency men. who hold the place IN
economies that Svift's Eolists held IN theology,
offer currency which expands only Their
plans are to the lawmakers Summing
to me foolshness: for a currency TO he truly
elastic should contract as we'll as expand
4 man whose modesty forhids him 20 tell
his name has devised one which comprehends
all the merit, OF the others with some OF us
own. II irappe tout chooses phrfahihent
froid, as NAPOLEON said Of the educated pig
There should be- an irredeemable note, nun
legal tender with the promise not to redeem.
definitely made ~ il L. not 10 he redeemed.
that j. paid il may be issued by th"GoNernn"rt
or any aSsocia'ion or individual Prei"r'nc"
might he gwen the Government. for. then.
taxation would become unnecessary This
would be-tow the blessings Of crccnbackl,in
IN srcelsis
II Will become evident that. even II tins
sort Of money were redeema bic. no one would
have time 10 demand payment
Every note must have on it, face seven
spaces for the figures to :, with the
day OF the week aud some poetic or patriotic
saying, such as We are Seven" or Come
seven, come leven." preferably the latter,
for "a little 'lrycn leavenc,h the whole lump "
On sundays this bill should be- worth one
dollar and should be legal tender on Monday,
two, Tuesday. three and on. culnina' ~
Al s"v"n on saturday
Tie mex, day it should again star as one,
inCrCa sing by one dollar on successive days.
completing cycle at seven on III" seventh
day q the week. t-the poet says:
Tney tan successive. and successive rise
Thi, beautiful verse ould be kept IN every
body mind ,pso tdc'o. just a. III" papers OF
Chicago do the Poems You Had Ought 10
Know
IN practice the plan would work thus. \
man not cast away on desert island a.
the cruel political economy books do with
their long-suNeriug man but man in busy
hauuts Of men. having bill worth but n
little ole dollar" would not go forth, either
weeping or rejoicing. on that day her
In search of ;heaves nor anything else, but
necessities lie would go to church, or stay
at home aud teach the catechism to his ohil,
dfen His reward Virtues reward. would
BE- marked and immediate His dollar would
effort on his part without any other person ,
being any worse OF, h. should have gained
cent per annum ny saturday his h'll would
De w2Ftn : aga,ns, one on sunday ., IN; IN
once, everybody would br rich. Prices
would 20 Ia the very zenith
Now, .everybody knowing that in one, more
over IS per cent would yet busy" in gsttinp
rid Of /, nebi- would incont inently be paid
and wait would be paid Everybody would
enlarge his need to equal his money Those
SO great indeed would be the rage to get
even, that the battles. the greatest of them
now fought over bargain counters, would
be but summer sopss by comparison o,d
having any money on hand to suffer the in.
evtable decline which sunday would brins
carry large quantities of fried oysters about
and offer fried oyster with every bill. Just
as saloon men now offer one with every drink
Those having the misfortune to have an,
bills left on their hands on SUNDAY woulC
throns the churches whore the passing plate
would fairly loosen its joints under It's bur
denS The Salvation Army would reJoicf
with an exceeding great Joy on Monday
| people would bethnk them OF a rise alreadl
on its way, and sing
rs.y VIZ know oo, M Wnuh OF ihs dollar hi
""'" ",' v
Ing Ike the old sexton, Il gather them H.,
seven at a blow !" like the little Irish tailor
| and enjoy a profit OF $50 per cent, Iabo
would not be wropsed, for i would rece nv,
the money at IT'S best TOT SATURDAY Is pa
day
| the praise OF this excellent system Ihin
| Of a currency which cannot pos Oily drcnn
~
| cent by Monday. 80 per cent by, lursdsy
| IS more by Wednesday, 20 per cent inIther o.
| OF Increase. its rate per cent, dminishe
30 rapidly day by day that warns men 70 0
pruden, And yet the absolute gam
| large that he stands a. between TWO cholr
| singing anttphonally the one, ne pruden'
| be prudent, but not TOO prunem tn
| tother. Gold and silver money woulu 20 ou
| Of use. and paper be the standard ana refer
able only to itse II III,
| What other circulating medmm mas eve
| taught duty, church-voins. charty, poe,f
and the other things which this system teache
| and does so automatically
BY SATURDAY night the merchapts woul
| all be rich beyond the dreams oil avarlct
| on Monday they would go into bankruptcy
furnishing employment to at the Law yer
| There would be startling news enough I
| furnish stories" for extra new spaper> ever
| hour. again giving work to many. Their
| would be no need for banks: for this none
| would be IN perpetuai 70" ~, ~ W, w, "a
| prove thriT WeaPn wouiu VI nu' v. "N,..Sa
| wish to hold money optalhed on Mohua
| FOR Tuesdays advance, ana lno'sr no d y