The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1914-10-03
vox PoPULI.
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BENJAMIN FRANE<LIN's LEGAL
TENDER PAPER MONEY
5dftor Pensacola journal.

l OAfSe1CoEa JOQTnAl.
| Benjamin Franklin's legal tender pa
per money, made the sole public money
or the United States, IN the constitu
ton Of March 4, 1889. has been the su-
preme law OF this land ever since: but
not obeyed. Is the kind OF public MONEY
this nation has always needed, and
especially needs today.
My proposed money law is an honest
erfort to obey the constitutional plan
| OF money, and it is attracting consid-
cradle attention.
l am not surprised that it moves
| slowly because it does not harmonic
with the money laws enacted by con-
gress-
had hoped that the Democratic
party from what it has heretofore said
In Its platforms, If put into power
would have favored government, legal
tender paper money, but it seems con-
gress does not understand the science
OF money. and has made no improve
ment over the Aldrich unconstitutional
system which is the British system
opposed by Franklin.
MY proposed money law may not
De correct in all its details; but the
money itself is public money. made
the sole use Of the treasury. in strict
compliance with the constitution.
The money law have AIRED
would in very short time If enacted
into law, change the financial situa-
ton from one of stress, poverty and
tdleness in this nation to ease uealt h
and business.
1t Is especially adapted to remedy
the condition we are now in, which
mas many elements of the condition Of
stress, poverty and idleness that this
nation was in, when it was born, and
Tor the same reason, that the congress
then had adhered to the British gold
and silver monetary idea, with paper
money, a mere promise to pay gold
and silver, a mere bill of credit, used
Tor money, but not money, instead Of
the Franklin legal tender paper money
made and printed by him for Penn
sylvania which was always good.
Since the adoption of the constitu-
ton In 1889 it is the fault of con-
gress and not of the banks, that we
have no public paper money, the only
kind of money that congress has power
to make
Gold and silver since that date might
under the constitution, be made a ten
der In payment of debts by the states
but not by congress-
But since that date. 1889, gold and
silver could not be made into money
either by the states or by congress, and
no paper promising to pay gold or sill
yer, could be emitted for use as money
either by the states or by congress
The supreme law says:
Congress shall have power to coin
n1OneV. regulate no val
OF foreign coin, and fix the standard
Of weights and measures
No state shall coin money. with
bills of credit, or make anything but
gold and silver coin a tender in pay
ment of debts.
No money shall be drawn from the
treasury, but in consequence of appro-
priations made by law, and regular
statement and account OF the receipts
and expenditures of ALL PUBLIC
MONEY shall be published from time
to time"
Now busheI of wheat is not money;
but it, under the constitution is as
much money as gold and silver coins
are or can be. 1t is valuable corporal
property and nothing else
Money under the constitution is in
corporal property which, only con-
STeSS can make.
Gold, silver, wheat. iron, cotton and
the like, are corporal property which
congress cannot make.
But congress can fix the standard
OF weights and measures" of all kinds
of corporeal property. and congress can
regulate the value of incorporeal
called money, made or coined
by congress.
M2rkat w of oir,n Fora
the courts, the value of corporal prop
erty, but not of money. 1t is within the
power of congress to fix
the value Of money The supreme
court of the United States, in Bronson
VS.. Rodes, Wallace 229 slipped a cog
by recognizing the market value of the |
greenback rather than the congress !
sional value thereof, put subsequently |
this was changed, but that case was an
error, and caused damage to honest cit /
zens who accepted greenbacks in pay |
nent, while market value was knock !
ing them down. Provided greenbacks |
were real money, which l do not ad- |
nit, because they were promises TO t
pay money
Now is the time to get back our /
bonds sold to foreign nations by the |
use of our gold. silver, corn. wheat, |
cotton, iron and the like.
Now is the time to cancel the bonds |
held by the banks, by a demand of /
payment of the gold and silver on the /
bank notes, by accepting and can
telling the bonds, and assuming full |
control OF the bank note bill OF credit, !
void, money now outstanding, making /
t temporarily a legal tender. until l.
IAN be redeemed by the legal tender /
public money, which my proposed law
will coin in case congress shall pass it, /
Banks should not be forced to emit I
bills OF credit for money promising
in gold on demand.
Now is the time no honest bank
Iare increase that kind of void uncon-
paper money.
It is not the error of the banks, but
t is the error of congress, but the !