Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1902-10-10
rmn PROBLEM Sor soLvEr.

Tie Republican party c!rims to have
settled the money question. Ii has de-
mou,tized silver, declares that the
himetallic, question is dead. us there is
sufficient COLO, i'll the country for all
monetary business purposes, aud de-
mands wen that the silver dollars now
III circulation be melted into bullion
and soil vt its commercial value.
Let us see ab mt ih,S abundance of
sold in this country ,nnt is So much
talked ab"nt. Gpld is coming here
from abroad. 1t does not come in the
natural course Of trade, but on the ron
trary it's coming remains "a loss to the
importing banks. But it ls uecessrey to
relieve the money %stiiugcncy aud the
banks must have 1t at any price. For
some time the New York banks have
been clamor'ng Tor money and Secretary
Shaw advised them that il they hal not
'nongh to meet the demand upon them,
that they should increase their circula-
ton for which the law makes provision
which advice they did not heed, rs there
was not gold enough ill the country to
warrant the hazarding OF the expert.
ment. II Secretary, however, did
yield to the pressure soon afterwards
and came to their aid by releasing sew
erai millions Of money through govern
m~ent.honds. But still the demand was
lot, nor ls moi, appeased. Does this
look like there WIS a plethora e. gold i'll
the country
1t is reported that Secretary Shaw is
contemplating one OF the most radical
steps that has ever been .aken 10y any
Secretary of the T%rearury. i'll case there
is not Il speedy change in the existing
conditions i'll the money market. 1t is
the accepting Of State, municipal and
other bonds as security for the deposit
of governmental funds in the national
hanks. Does the contemplation OF this
Unprecedented movement indicate that
here is sufficient col 1 H. the countr tO
meet the want ~ exchange and regular
trade. We said unprecedented. but
should have adie unlawful. rs the law
provides for only one kind OF securit led
namely, governmental bonds, So .he
Secrctnry's proposition could not be-
legally exploited. without u change of
the law by act of Congress.
But it does not occur to iinanciers 81
the Republican party that the stress
might he removed by the coinage OF 4
f5w millions OF dollars per month from
| lhn hnlItnn lNlnV t.ilA 81 d.. trnr,,z,
vaults aud rchahilitating the metal int,
legal tender, with rest lotions, il necrs.
sary, us to the amount nf monthly coin,
age, Ms under the Bland act. But TINT
is the last thing that is likely to Suggest
itself to the minds Of the tiuanciers O
the Republican party. Rut 1t il to he
hoped that after II while it will ge'
through the heads II the people That iii,
demand for free silver was not based on
any Epecinl friendship Tor that metal .but
that 1t was IA call for more money. nnd
hat such demanL still exists. 1t Is tru,
that there have been great discoveries ut
gold Inc 1916, but the addiuonn
supply has not sufliceh to meet tit
demands Ut the wori'i. The quantity,
theory 81 money must yet have iurtht,
consideration, and that was what til,
silver question rep -"sentcd. and still
represents. 1t is plain that the demaut
Tor more money still exists, and tim, th,
Republican patty has not solved thu
question. 1t congratulated itself OIL
solving the question when an influx o
gold made monetary condition.
temporarily cusy. 1t is characteristic o
the Republican purity to claim credit 10
The bounty Of nature, but ever natures
golden gift has not sufliced to enable i
J." effect the solution Of the problem.
Reno journal.