Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1815-11-04

CURSORY RENTS.
ON MONEY.

this IS one of those subjects, which has
attracted the attention of every thinl,iner
\ or minimizing man in the United States. If
has been banded about from CONGRESS- IN
the Press, IRON the statesman's cabinet tn
h the tavern club. The state of onr curren-
S cy has been the theme Of reproach on eve
n ~ tongne, from thu merchant who draws
1or millions, down to the market-woman
Z "io Tetai.s her cabbages and carrots. The
eVll has been felt By al--but the sreat
ques,ins are, what is the cause i? and what
- 'ne cure I'm the midst of so much dis
cusSion, 1t would seem almost presump-
III aTo az ior any one to attempt to lay down
all the principles of the case the follow
ing Is therefore offered, with the utmost
dsierence, as very cursory view of the
p.aness propositions, which may be esta-
bhshed on the subject.
IN the rude stages of Society, most Elk
Changes are effected by barter. has
more meat than he wants, and wants more
Iurs than he has. has more fur than he
wants, and wants more meat than he has.
n and 3 therefore will supply their mutu
al wants, by bnrtcIins ui4saI wIlICA az las,
Tor that which he wants.
1t would very often happen, however,
that b would not want meat, although O.
Tiers might. A therefore could never get
him some article which would never be
drug in BIS possession because other
people would be willing to take it from
+ in exchange for the articles which b
might wants
in this stage Of things, Purchase gcner-
ally takes place instead OF barter. Money
comes into use-What then is money j.?
DEFINITION. Money is something or o.
ther, which almost every one in the Society
is willing to take in exchange for the com
modities that he has to dispose Of.
No one refuses it because every one
elsetakes it. In this way, every other COM
modify readily circulates from hand TO
hand, from his that hasit to him that wants
II. Money thus becomes the instrument
VErchonge, or as others rau it, the med;-
a1 OF circu alton, or the Circulating DE
dim.
But, that which is the means of circula-
ting every Other commodity, soon becomes
the standard by which their value is estim-
atcd. Commodities come TO be compa-
red with each other, by means OF this inter-
mediate standard. ii A has to buy his ALT
not by bnrtering his wheat for it, but by
hrst turning his wheat into money, md
then the money into salt if the Quantityof
salt which his wheat will purchase, will
depend upon the quantity OF money VIII ch
1t will command, he very naturally calul-
iates how much money his wheat is worth.
Ihus, the Uaiue of every CONNOLLY
comes tn be expressed in n1oneg. AID
money, from being the Instrument of FL
change, becomes also the Standard Of Va-
Tue.
Various circumstances have by degree
caused the Precious metals to be used
Nhe principal monies of commercial ia
L.,
the Instruments Of Erchange, as well as
the Standards Of Vaine.
In the Course of time, however, these
monies come to be represented by zqYi-
Gus flafeT o6hsaffoHS to pay them-such
as Bills or Exchange, Promissory Notes,
and, more commonly, Bank Notes.
III those, who are bound upon the paper.
are good for the specie, the paper, if to be
paid at sight without any RESTRICT on, be-
comes as good as the money. 1t comes.
therefore, TO be the Representative of co n
or metallic money--And hence, new
description of money, viz. Paher-Mo-
neV.
The descriptions Of haher money, most IL
use, arc Bills Of Exchange x Bank Notes
DEF1NTTIoN "a Biz of Erchange
rs Bill for money, dra wn by A I'm one
Country, on B in another. If they both live
W the same country, It is called an I1iana
bW of EVchaHge. These bills are princi
paliy IN usc among merchants.
1t is, in fact, the great money paper oil
the mercantile world. In the CONNER
Gal transactions of two Countries, it be-
comes thc subsHfufe Of 8hecie.-There il
always a Certain relation between thes,
6Hls and steele.
5nWtks eall Of Nation,.