"Silver should be restored to its old full sovereignty, side by side with gold. Then, in this country, just as little of either metal as possible should be used in men's daily transactions. Handling gold and silver directly in trade is but continuing the barter of savage men, and is a relic of a dark age. Moreover, the loss by abrasion is very great. Both metals should be cast into ingots and their values stamped upon them. Then they should be stored in the Treasury and certificates representing their value should be issued as the money of the people. If this makes the Government a banker no matter, so long as it supplies to the people a money on which there can be no loss. The thought that this would drain our land of gold has not much force, because the trade balances are coming our way and will soon be very heavy; if the gold shall be taken away something will have to be returned in lieu of it, and after all the truth is that four-fifths of our people do not see a gold piece twice a year. Our internal commerce is very much greater than our foreign commerce, and to keep that moving without jar should be the first anxiety of American statesmen. For that purpose nothing could be better than the silver certificate. "The Government has commenced to coin silver and has partially remonetized it. It is only partial because gold is still made the absolute measure of values and preference is reserved for it in ways which will keep silver depressed until there shall come a demand for it which cannot at once be met; then it will be discovered that it is still one of the precious metals and it will take its place in trade as it has its place here in the mines, side by side and the full brother of gold. Were the Government to-morrow to commence to absorb and hoard all the product of our mines and keep this up for a generation, issuing certificates on the same for the full value, at the end of about thirty years there would be on deposit as security for the paper afloat more than one thousand millions of dollars. This seems like a vast sum, but it would then amount to but ten dollars per capita for our people. You have each received two and a half times that amount to-day on account of your last month's wages, and the only serious inconvenience it has inflicted upon you is the discount which wicked legislation has given to silver. "But long before one thousand millions in silver could be secured it would command a premium, because that would mean one-fourth of all the silver in circulation, and this old world cannot spare to one Nation that amount and still keep her commerce running and the arts supplied." "But, Professor," said Alex, "why hoard the metals? Why may not money be represented by paper backed by the Nation's faith? Why pile up the metals in the Government vaults when the printing press can supply as good money as the people want?"