Whenever there is a general inability to pay debts on account of an insufficient or low volume of money, we call it a—panic. We have had five such periods in the history of the American Republic, viz: in 1819, 1837, 1857, 1873 and 1893. How much better it would have been for our Republic had our fathers, who framed our Constitution and established the Government under it, given us a safe, sound and scientific financial system; with all money, whether coin or paper, issued by the Government, and in sufficient volume to do a cash business; volume to be increased as population and business increased; all made a full legal tender for all debts public and private, and at no time to be a contraction or reduction in its volume. Then we would have had none of the periods called panics and our advancement in all branches of business and science would be far in advance of what it now is. It may be said, and truthfully, that our fathers had no time to devote to the money question; but there were a few in those days who did study it and profited by it just as there are at the present time. If the farmers, the mechanics and wage-workers,—the creators of wealth—in this country ever expect to get any relief from the tyranny and oppression of this octopus that is “aiming to be master of their industries and commerce,” they must go to work earnestly and systematically in their various organizations—the Grange, The Farmers’ Alliance, the Patrons of Husbandry and the various Labor Unions—to studying the money question, and if they persevere they will see clearly as President Garfield did over a quarter of a century ago, that “whoever controls the volume of money in this country will be absolute master of its industry and commerce.” There were a few men even at the time our Government was organized who understood the money question. Tom Paine, Thomas Jefferson and Benjamin Franklin concurred in the theory that “good paper money, based on the credit of the people is the best money ever invented by man.” “Equal and exact justice to all men, special privilege to none,” was their motto. Let me quote further from Garfield. In that same speech he said: “But I admit freely that no Congress is wise enough to determine how much money the country needs. There never was a body of men wise enough to do that. The volume of currency needed depends upon laws that are higher than Congress and higher than Government. The laws of trade alone can determine its quantity.” Demand for use is the natural law of money supply, and the Government should furnish such an amount as may be legally demanded; the idea being that the business of the country will absorb as much as it needs, and no more. My opinion is, the volume ought not to be less than $50.00 per capita; and, as I believe, $100 per capita would be none too much to effect all our exchanges for cash, which is the proper way to do a safe business.