Show OUR MONETARY SYSTEM senator benator peffer TU briefly what buy BUT ails it senator W A peffer in the forum the trouble with our monetary system te bi that we are trying to do an la im possible poa aible thing you might as well u us partake iter take to haul baul a ton of hay on oil a bi cycle as to do a hundred billion dot doi tars worth of business on a hundred millions dollars worth of gold cola coil the only way a gold standard can c be b securely maintained is to use ue no mon mom credit paper of any kind oeva lbs could be redeemed in gold if ti it wv presented for payment at one time and that we all know is utterly impracticable As before stated ye we have not gold enough to supply own mom than 1 per emt cent of our oui dally daily needs for money we use 92 99 2 worth of prime 10 credit and 2 worth of coin in every worth of business we transact with the national banks the simple ample truth K Is we have long outgrown ah ahe metallic money system and we shall sh have to something better if men want to trade in gold lot IP them do so BO that is in every way legitimate aie for fec gold d to is a commodity and a useful one in many ways but as the N new ew york board of trade said in a resolution D cember 9 1896 a sound money c cre system m is a necessary element to ta U stability ot of confidence money la whatever form is but credit boino coia the wisse wise thing for us to do is to a sound credit system ts i there them to ie no credit among us equal tuat that of the government of the unite states that wisely used te is icier for all monetary purposes in addi adding tio tt to RH MB simplicity and natu natural new would he be a guaranty of loyalty wt caly to the own ownership of their hon i ty t y the people |