Calico is sold by the yard, kerosene by the gallon, coffee by the pound. These measures are immutable, and those who buy and sell by them make their contract in perfect confidence. But suppose they altered from day to day or from year to year,--the yard ranging from 25 to 50 inches, the pound from 10 to 20 ounces; would our exchanges be effected without much friction, think you? Would not such a ridiculous system of weights and measures paralyze exchange and demoralize industry? Would not those who could juggle the system to suit themselves--buying by a long and selling by a short yard-- accumulate colossal fortunes at the expense of the common people? Would we not have "panics" in plenty and "depressions" galore? Well, that is exactly what is happening to the dollar, our measure of value, the most important of all our trade tools. And mark you, a change in the purchasing power of the dollar is equivalent to an alteration of every weight and measure employed by commerce. Understand? When the purchasing power of the dollar expands or contracts it has the same effect on exchange as would the expansion or contraction of the yard, the gallon and the pound. A shifting measure of value is the nigger in our industrial woodpile. We have got to have a measure of value that's as immutable as our measure of quantity; a dollar as reliable as an official pound; a dollar that's the same yesterday, and to-day and forever, before we see the last of these panics and periods of business depression. We have got to have a currency that will adapt itself automatically and infallibly to the requirements of commerce-- that will constitute an ever-effective exchange medium-- before we can obtain a smooth working industrial machine and the maximum employment of labor. We know from experience that gold will not supply us with such a currency, that silver will not do it, that bi- metallism will not do it--that greenbackism, as we understand the term, will not come within a mile of it. Then what will do it? That's the problem. Solve it, and you forever put an end to commercial panics in a land of plenty; you deprive capital of its power to oppress labor; you assure industry a constant friend where it has so often found an insidious foe. Solve it and Columbia can furnish happy homes for half the world--homes unhaunted by the wolf of want, but crowned with sweet content and gilded with freedom's glory. For a century economists have been seeking the solution of this all-important problem. Even conservative old Adam Smith dreamed of the emancipation of the world from the multifarious ills of metallic money; but we still cling with slavish servility to the silver of Abraham and the gold of Solomon.