People's Pilot, Volume 3, Number 12, Rensselaer, Jasper County, 8 September 1893 — WHAT IS MONEY? [ARTICLE]

WHAT IS MONEY?

The Constitution of the United States Defines It. as (fold and Silver. All the legislation of congress has been to the payment of national obligations in “coin.” Nowhere does it designate an exclusive metal, and for the first time in any American state paper has this formula been omitted in the message of Mr. Cleveland, who substitutes for it the indefinite phrase "money of civilized countries.” What is money—legal money—in this country? We will quote the deflnltipn from the constitution itself, and it may be found in article L, section 8, clause s—in defining the power of congress: “To coin money, regulate the value thereof, and of foreign Coin, and fix the standard of weights and measures” And again in same article, section 10: "No state shall enter into any treaty, alliance or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts.” So clear was the sentiment of the fathers that this is the record. It doesn’t say, “the money of civilization,” or that it shall be gold, or that it shall be silver, but "gold and silver coin.” And no less an authority than Daniel Webster held that even congress has no power to demonetize either metal, or impair the value or usefulness of either. The plain proposition now before the American people is to discard silver as money and fix all values of every kind —labor and bread —on the gold standard. So plain has this become that the advocates of the single metal find it useless longer to conceal their purpose, but boldly through the president of the United States announce their policy. The battle has been joined and it should one way or the other be fought to a finish. If gold wins in this contest before congress it will be the death of the party responsible for it.—Kansas City Journal.