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 Rh kind of money just as good as any other kind of money.

"It is impossible to maintain two kinds of redemption money with one made from property having a commercial value of only one-half, or any noticeable per cent less than the other. When such is the case the lesser must lean on the greater, and to all intents and purposes becomes credit money, while the mere valuable becomes the only redemption money.

"We have in the United States in round figures $1,600,000,000 of all kinds of money. About one-third of it is gold, one-third silver and one third paper. One-third of our money is redemption money, and two-thirds is credit money.

"The blunder was made when silver was demonetized. The remedy is to remonetize it, and thereby restore its commercial value. Purchase acts, or any treatment of silver short of free coinage will have no beneficial effect."

Mr. D. H. Wheeler wanted to know of if he did not believe it would advance prices if the government were to issue five hundred millions of greenbacks.

"No;" was the reply. "It would break down the present tottering financial system the sooner. The remedy to restore prices, is to remonetize silver, and then issue more greenbacks.

"We thus see that money, primarily, is a commodity—property—a thing of value—possessing an exchange value with all other property.

"That credit money is a title to commodity money. That in the exchange value between commodity money and all other property, credit money does not add anything—it facilitates—makes convenient the transaction of business. Just as your wheat certificates add nothing to