Betsy Gaskins (Dimicrat), Wife of Jobe Gaskins (Republican): Or, Uncle Tom's Cabin Up to DateHood, W. I. (William I.)
General
Betsy Gaskins (Dimicrat), Wife of Jobe Gaskins (Republican): Or, Uncle Tom's Cabin Up to Date
Hood, W. I. (William I.)
Gold; Interest; Money; Paper money -- United States; Populism
Suppose that this country were governed by a czar, an autocrat, with
absolute power to make what laws he pleased for the government of his
people. Suppose this autocrat should issue an order increasing the
standing army to one million men, these one million men to be armed, not
with muskets and swords, but with pickaxes, shovels, etc., and to be set
to work improving roads, reclaiming desert and waste lands, etc. Suppose
these men were paid $1.50 a day in money issued for that purpose by the
government. What would be the result?
One million of men would be taken from the overcrowded labor market, and
at the end of each week nine million dollars would be put in
circulation.
Would it be necessary to pay these men in gold and silver? No. Would not
mere paper money inscribed something like this, in denominations of one,
two, five, ten, twenty and fifty dollars, answer all purposes?
THIS CERTIFICATE, TO THE AMOUNT OF ITS FACE VALUE, WILL BE RECEIVED BY
THE GOVERNMENT OF THE UNITED STATES IN PAYMENT OF ALL PUBLIC DUES, AND
IS A FULL LEGAL TENDER IN THE PAYMENT OF ALL DEBTS, PUBLIC AND PRIVATE.
Would not these certificates pass everywhere for their face value? Would
they not have back of them all the power of the law?
And would they not have the same power if they were issued and ordained,
not by an autocrat holding merely a fictitious authority, but by the
will and the vote of a sovereign people? Would they not be backed by all
the wealth of the nation?
The right to issue money is a sovereign right and should be jealously
guarded by a sovereign people. To delegate this power to banks and
money-lenders is as grave an error as it would be to confer on a class
the privilege of making laws for the whole community.
The volume of money should be regulated to suit the requirements of all
the people and not the greed of those who thrive on usury.
The use of metals for money is unscientific, and they will eventually be
relegated to obscurity with the shells, pelts, tally-sticks and other
cumbrous mediums of exchange employed by our ancestors. But great
reforms cannot be accomplished at once. Gold and silver are the money of
the Constitution. The act of 1873, which made gold alone the basis of
credit, and which, by reducing the volume of money, doubled the burden
of debt, was a violation of the fundamental law of our government. The
wrong perpetrated in 1873 must be righted now. This is the first great
step in monetary reform.
Following this, the issue of interest-bearing bonds must be stopped
forever. The careful student will find that interest is at the bottom of
all our financial ills. Unselfish patriotism must abolish usury by
substituting the credit of all the people for that of the banks.
Every physical or moral ill is the result of some breach of natural or
divine law. For generations we have violated the laws of God as they
relate to money and to land.
Public-domain text, read in full here on John Shaqi.
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