New-York tribune., 1907-12-14
cTRRENCY BASED on "VALtb.

- ,s,Iour;n would have the govern
,,,ent receive cotton in exchange ior Iiotes, S go
NC do NOT see why the government Snouiu i.o.
rac.;xe a newspaper's unpaid SubScrlptlon Hsc
and nav thereon currency up to 20 per ceh' oI
its value and the balance when the oi4ie "io
collected.-The Mobile Register
This is an absurd proposition but Ior leat
II will NOT he properly rebuked we wish to call
attention to its dangers. There is the ta'Iot
who ALWAYS has more unpaid bills than even
the country editor. Shall the government issue
notes against them, too: There is the doctor
also whose errand of mercy is often SLOW IN
receiving its financial reward. Shall the gov
ernInent issue notes against his unpaid blllS!
The corner grocer carries much on MS ooo>s'
Are his debts TO be made the basis OF Il hote
issue2 If our esteemed contemporaries the
country editors will only think twice ana re-
member that even though as they contemplate
their long list of delinquent subscribers they
feel like approving The Registers ingenious
scheme the application of it to the tailor the
grocer, the doctor and the rest OF manklhd
would set the government their trails, too,
as the universal bill collector, they VIII WITH
hold approval and continue as of yore 10 uase
n out' in cabbages potatoes and firewood
Rut the suggestion of Senator Mclaurln
stands on an entirely different basis The cot
ton growers association which is trust, wants
to corner its product and wants the ready
money at the same time 1t wants 10 eat us
cake and have it What better than Tor the
government to take an interest in the corner:
The same plan could doubtless be extended 10
the tobacco growers association and currency
be issued upon tobacco IN the warehouse wait
ing for rise in price, and this would give 'he
government friendly interest in the work OF
the might riders for every pound OF tobacco
burned and every grower toutside the trusp
dvnamited into kingdom come would reduce gust
so much the product competing with that IN
which the government was interested TO tne
extent of its advance Very naturally the same
idea would be extended 10 meet the notions OF
those who think 81 bushel is little enough
for hungry man TO pay for his Wheal' ana
so all the producers would share in the benefits
of this idea of basing currency upon real
value"
The more We develop this idea the more it
appeals to US The suggestion which we are
about to make will probably at first blush take
some of our readers aback. but mature conSid-
Grafton will we are sure, commend it to them
Oil especially in Standard OIL tanks rs an
article of such substantial value that il will
hardly be overlooked when search is made
for new bases for currency. Copper ore heaped
at the mines of the Amalgamated Copper Com
pany waiting for a favorable upward turn IN
price is similarly admirable for that purpose
Beef in the cold storage houses of the Beef Trust
and eggs waiting till they touch 40 cents or 81
a dozen should similarly be made the basis OF
currency All the producers could thus form
trusts ike the cotton growers and be happy
with government aid.
If there still were not enough currency to go
around the consumer might be put to some good
use True, he has only his appetite, but the
value of what he is likely to eat, wear and
otherwise consume in year might be estimated
and notes might be issued on those valuations
Beyond this we do not see how the system could
be extended The fact that it has limits seems
to us th, only defect in this plan Of issuing cur
rency values.