Democratic Sentinel, Volume 22, Number 36, Rensselaer, Jasper County, 17 September 1898 — THE PEOPLE'S MONEY [ARTICLE]

THE PEOPLE'S MONEY

Stable Dollars. Goldbugs frequently speak of money as though Its only function was as a medium of exchange to effect transactions in presentl. Almost any form of money—whether gold or clam shells—would answer that purpose. The important thing ih money, however, is to have it remain Stable sot periods of time, so that contracts Will be paid with the same value as at the time of their inception. The Chief end to be sought is to maintain the parity between money and property. The foregoing illustrations make it clear that there is only one possible definition of honest money. That is, an honest dbllaf Would be one that maintained the sdme Average purchasing power yesterday, to-day and forever, as measured, not by the prices of any particular articles at any particular time, but by the general Average of prices. Such a dollar Would do justice to every one. The creditor would get all that he bargained for; he has no right to insist on being paid in a dollar that is not worth more property than the one-he lent. The debtor, too, would pay a dollar representing the same amount of property as that he borrowed. But if a choice must be had between a slightly rising dollar and a slightly falling dollar —in other words, between falling prices and rising prices—it is clear that rising prices are more beneficial to the community, as a whole, than falling prices. Gold as a Standard. Current production of silver, like Wheat and cotton, is absorbed by current demands. The world’s silver product is sixteen pounds to one pound of gold. Why refuse the natural, logical ratio of 16 to 1? Gold is constantly diminishing in output compared with demand. The price barometer Js proof of this. The index numbers of prices show the cause and cure of this financial depression. If nailed to the masts of the press Dun and Bradstreet would be powerless to “fool Some of the people all of the time.” The authorities teach that independent bimetallism and parity are a simple undertaking for this country, because price level and money level are international. Our present prices require our present money Volume of about $1,750,000,000. To lose our gold without a primary substitute means to lower our prices and raise in “the same proportion” the prices In countries receiving it. Yankee trading and the “greed for gain” prevents this. Hence it is axiomatic that our gold cannot leave us until a substitute fills the void.

Alger and the Press. Secretary Alger believes that he can stave off an investigation with his barrel.—Salt Lake Herald. The administration should devise ways and means of io-sing Alger as soon as possible.—Pittsburg Post. Doubtless Secretary Alger has heard of the French saying that he tvho excuses himself accuses himself.—Boston Herald. Secretary Alger’s defense, ns published in administration organs, is a string of evasions.—St. LouiS PostDispatch. No doubt Secretary Alger realizes by this time the folly of attempting to bolster a bad cause by letter writing.— Boston Herald. Secretary Alger cannot make any mistake in providing too bountifully for the needs of the men at Camp Wikoff. —New York World. The coon that won’t come down is certain to fall. Secretary Alger might as well paste that sentinment in his hat.—Boston Herald. By the time congress meets, the people will know just who were Alger’s accomplices in the neglect of the American soldier.—Philadelphia Ledger. A strong effort is to be made to get Alger out of the cabinet. If it succeeds and Alger is philosophic, he will retire to his barrel like Diogenes did to his tub.—Salt Lake Herald. Secretary Alger is- having an opportunity now to compile a large scrapbook, all about himself, that might make even a Guggenheimer indulge in questionable French.—Boston Globe. The principal is hlways held liable, General Alger, for jthe acts of his subordinates. No ma)i can free himself from responsibility by putting the blame on the men subject to his orders. —Boston Globe.

Alger as a political issue is growing more conspircuous with every tale of horror from the camps. All other questions are obscured by this huge cloud of miserable incompetence.—St. Louis Post-Dispatch. Our soldiers have been murdered in multitudes by avoidable camp conditions. Who are the murderers? It is for congress to find out, and there are fearless men enough in congress to do this duty.—New York World. When Secretary Alger says that there Is no need for an investigation at Camp Wikoff he says a very unwise thing. His remark will greatly inflame the demand for investigations in every Inve®tigable direction.—Cleveland Plain Dealer.

The whole power of the Spanish fleet and Spanish forces has been unable to inflict upon the armies of the United States a loss of life in any degree approaching that resulting from the unparalleled blundering of the war department.—Philadelphia Record. Camps in unhealthy localities, poisonous water, scanty and bad food, exposure to the elements for want of tents, cots and blankets—these have killed hundreds of men, unwounded men, who entered the army to fight for their country.—New York .Journal. Now that the Republican candidates for Congress have begun to call for Alger’s resignation, the movement against the war department promises to gain a new impetus. Alger is too big a load to carry through a political campaign, even whep It is a —Boston