Evening journal., 1908-08-29
Political Economy.

economy are: Ca) The Constitution.
CD Money. Co Trusts. (d) Tariff
The Constitution stands for a
proposition OF equal rights for ell,
and special privileges 70 none"
This instruments is Acknowledged by
our people. as well as by leading states
men Of the old world, to be the most
perfect and Just structure. that has
ever yet been conceived, or formulated
for a government foundation.
Like everything builded by the hand
Of man. il is subject to assault from
without. and from witnin. The most
insidious. cunning. and dangerous
sources Of corrosion. are liable TO oc-
cur from within.
From without. the Constitution Of the
u. S. stands well nigh hnpregnable. IT
is from the recognition Of this fact,
that foreign nations award us their
uniform respect
AS we add to. or introduce new speci-
fcations to our citidel Of strength, We
should constantly guard against ia o.
side barnacles.
Figuratively. the constitution OF a
nation, may be likened 10 the consti-
tuition of man. For longevity and
robust health. moral and natural laws
must not be infringed upon.
When there is evidence Of weak
spots. or slight symptoms Of decay. or
degeneration. promp treatment should
be taken to avoid chronic weakness,
and ultimate dissolution. The three
chief menacing diseases at present, con-
front us in the forms of the Money
system, Trusts. and Tatiff.
Money
All forms Of money used as a medium
Of exchange may be divided into two
distinct classes. First. Current Cash.
such as gold and silver coin, and gov
ernment bank notes. based on coin
values. and the credit Of the country
This is real cash. Cor ready money!
and belongs TO Glass A. IL is the
cash money Of any nation. when duly
and legally stamped With the proper
government signatures. All other
forms of money of mediums or cS-
change. belong 10 Class 3, and are nor
real or basic money When the credit
OF a nation bank. or Individual. stands
unduestioned. Glass p Money-such as
drafts. acceptances. negotiable paper.
bonds. and certified parer obligations
answer Just as we'll. in some trans
actions. as common cash. If a gov
ernment waters its money. by an over
! issuance of paper. il is equivalent to
an individual watering his credit, by
the issuance of too much promisory
paper. 1t is usually unsound financer-
ing. in both cases.
Conceding these promises to be facts,
we now come to the coinage of gold
and silver. as n base for all money
We viii note the effect Of free coin
sge of one. or both Of these precious
metals. and what benefit, if any. arises
TO the people in general, by the gov
ernment increasing its stock of metal
! and paper money,-Class A-and also
the effect. in relation 10 our inter course
with foreign nations.
AS a matter OF fact, the free coinage
of gold. or silver. or both. or either one
to the exclusion Of the other, is only
a local matter. and in either case, only
inuers to. ordetracts from. the earning:
OF the producers of these metals, ia.
cluding Of course. all rhe co-worlSar:
ahiliated in any way with the produc.
ton and marketing Of the same. It il
a myth. or false premise. to assert tha
varying standard. or unit of value, will
I which to measure value Gold, silver
platinum. diamonds. or anythin.
known TO man. varies as a unit o
value. TO measure value. according L
the output in different localities. Al
nations might adopt the metric system
for measuring size. quantity, and bulk
but there never can he an unvaryinl
unit of value. TO measure value. Th
present accepted unit of value gold
expands and contracts. as a unit o
measure in every country. accordini
to the output. yard. or a meier
express it as you please. always rep
resents the same distance.
If Adam used a yardstick, that sam
yardsticS. would to-day. just measur
s6 inches. between twn points. W
can have an unvarying rnit TO measur
time. space. and distance. but can neve
have an unvarying unit of value, {
measure value.
No human legislation can add to, o
detract frons. ,oe cent IN value, to a
the gold and silver produced in tn
world.
The only law that effects the valu
of anything, is the law Of supplyin
and demand.
England controls 60 Der cent. Of I'll
leworld's supply of gold. She naturall
protects her gold-prodCcing industry
by advocating gold as a basic unit
measure. The people who are benz
fitted directly or indirectly, by the Pre-
duction. sale. and distribution Of th
precious metals. are but a small porto
OF the body polite.
OF course these two sources
wealth are important industries, but
the main bulk Of the people. it make
not one iota of difference. whether {
not. we have a single standard of goll
or bimetalism.
1t is purely a case of the gold an
silver people standing in with Unc
Sam. At present, it is case Of sittlr
down on a back seat, with the silv'
people, so far as protection, or favor
itism goes. All the mOney that Unc
Sam could coin or print, is not goiu
to help the bulk of sae people.
Uncle Sam were to coin and stamp
hundred tons Of coin and paper none
per minute he would only be the ricl
er. in so far as the gold and silv'
producers, and the paper makers wei
concerned. balances paid to, or n
ceived from foreign nations are MAJ
with bullion. and not with home-ma'
Z money!