Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1843-07-28
POLITICAL.
For the Watchmnn and Journnl.

For the Watchman aud Journal.
Is there nny such thing standard of value
VIVA, is it d? standard OF value from the nature
OF the thing TO he at all, must be such that it shall
rule or measure with regularity the values OF all
other things Aud if there is any such thing, mo-
ney, specie, not paper, must he SUCH But does a
standard of value necessarily imply TINT II must be
fixed? II il is not fixed il is not standard aud
if it must be fixed, then indeed, there can be no
such thing; for how can that be fixed which is
hut the representative Oft which is everchung-
ing? Surely that cannot he standard which is
subject 10 ever-varyug circums aUces, one thing
tO.tiny, another thing TO morrow hut such is mo-
new True il is the same in name, but in nothing
else dollar is Il dollar, but as n measure OF val
ue il is deceillul as measure II contracts and eA-
pands, now measuring little, again measuring more.
a dollar does not purchase The same amount OF pro-
perry at all times, and if NOT, dollar represents
more property at one lime Than at another aud of
course money or property is cheaper at one time
than at another indeed they may BON be cheap
Ell, one AT one lime, the other at another. They
are both capable OF increase, and II the increase
of money he greater than the increase of proper
", money becomes cheaper; but if the increase
Of property, that is permanent increase OF prop
erty, exceed the increase of money, property be-
comes cheaper. Taken universally, without linn.
iniion, then, there can be no such liilng ms
standard OF value; money cannot be regarded
as such Tor property lroni the very nature ut
properly there can be 10 standard oil It's value for
il is constantly fuctuang in value. Value Itself
is no more under rule than the widest fancy.-
Sometimes il is The creature OF caprice; some
times it is made what is by physical clrcumslan-
ces But specie is n standard OF value in 50 far
us all other kinds OF money are concerned il be-
ing moro durable more stable in quantity aud fix
ed in lis nominal value, the values OF all other
kinds of money nre adjusted by il. Specie rep
resenIs property; paper money pnrporIs TO repre-
sent specie The value of specie depends upun
its amount aud the amount OF property paper
money depends upon specie. thing 50 common
as money, apparently simple in lis operations,
we ure npt 10 overlook; not apt Thoroughly TO UNI
derstand lis true character, its uses and purposes,
how affects other things an, is affected by Them.
Money does not express The real intrinsic value OF
property.-lor some things almost as dear as life
are deemed of little value, while other things OF
insignificant worth are accounted OF great value
but il expresses The nominal value, value which
the assent OF the community stamps upon prop
erty. Money indicates The relative value of prop
erly, shows the relations rs 10 value subslsting be-
tween different species OF property, and herein,
together with its convertblllty, consist The Chief
benefit and use of money. The relative value is
deducible from the nominal money expresses
the nominal value, aud by SO doing eVinces the
relative value. II we know The prices or nomin-
al values we know the relations or relative val
ues; Tor as the prices are 10 one another, SO are
their correative articles of property to one anol-
or. Any increase or ,liminutlon IN the amount Of
money does moi affect the relative value Of prop
cry f; it only changes the nominal value. a
change in the relative value is ettecled only by
some action in regard TO the properly itself IL IL
oil bui lille matter what al frSf Is tile nominal va
ne, provided the relations OF value between the
different kinds of property be not UNJUST and that
value aud those relations DO not disturbed but be