Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1910-04-27

When the government framed the constitution provided nat
should have authority to coin the same and declare the value there"
This a in accordance with the idea that has always prevailed that
while gold and silver we're measure OF value they were such me'
sures solely because OF their intr insic worth.
When the wal came OF gold went into retnenent because OF All
enough to carry o N the government; hence there had to be resort To
paper promises to pay. The gov eminent did not dare to agree to re
deem that paper except small portions OF it in either colo or SILVER
The greenbacks proper were simply token money passing from hand
to hand, and they were all the money the people had to 10 business o i"
After the a and while its paper a at a immense discount
measured by gold and silver. congr ess, to give it stability, passed a law
tina. all the bonds should be rede emed in specie, which mean. D"th
gold and silver. a little later it passed another Law demone'zng 'i
ver' which made all the bonds and all the sreenoaekS re'ee''" "
gold.
1t W a robbery unparalleled in the history OF the world but the
country struggled up from under it after awhile, II ron under the
let OF the country o nearly paid u that the interest sa'hererS were
alarmed. ) % in Mr. Cevelands reign they started II to compel him
until the president and Mr. CarlvLe under the old nearly obsolete
law, did issue $25O0mmW of new bonds, which answered their pr-
pose for Il time.
Then, W o three ear & Mr. Ndrish framed another law
which gave the national banks the authority to deposit with the treas
uy not only gold but other securities, including commercial paper,
a a basis for additional eircula ton.
Now, t. the mn of ordinary II understanding. this is about as far a
wandering away from the original statement in the constitution of the
mcn by the thousand-and they are growing in numbers daiy-who
are demanding that in case comm "reiai pap" shall be held a good
individuals, whether or lot it would OF be just as well o do away
with all the pharaphanalia' let the government establish a grand cen
to people II peoples notes.
1t is very possible that it is this problem which cause Mr.
Ainch to delay prom"lgadng a c currency system The character
OF Mr.. Adrich's mind is such that, 50 sue as he frames anything
somewhere as the OASIS there Will &c vast sums on winch he people
at large will be paying perpetual interest; and, Sc far rs his system
will show the supposition will be that people can eve get ~ of
debt or avoid the duty of paying tremendous interest SUI every year
for the benefit Of the people who call themselves bankers, and who,
with commercial paper as a part OF the basis of their circulation, de
mand interest OF every a who puts up his commercial paper and
wants a loan upon it.
Oh its face there Gems q be an inCongTuty to the whole business
which is almost laughable, because. in effect, it is this: Mr. Jones goes
to a bank and wants some money and the banker says: "If issue
my paper to you of course shall al my interest, because the pa
per issue have had to cur with the government of the United
States by the note of Mr. Smith. who lives across the way. hence
var interest from YOU as well as from Mr. Smith"
II this is not the real situation, then we cannot interpret rather
plain Entlish-Salt Lake Telegram.