New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1846-02-27
THE TRIBUNE.
value-Money-a Men.ure-Usury.

To he Editor Of The Irt6uHe
The pound weight or the standard OF weig hi
nus,, BY its own weight determine the weight o
all commodities and the dollar, or money the stand
ard of value must, by its own value, determine The
value Of all other things The weight Of the pound
is Fixed by law tha, il may determine the weight o
other things and the value OF the dollar is fixed by
,aw that it may determine the value of other things
ANY variation OF weight in the pound or OF value
in the dollar is fraud upon the public because The
weight Of the former and the value of the latter are
fixed by the laws Of nations. This principle is ap
oicsbe TO all measures, whether Of weight, length
ousn,y or value. The length, weight, size and
value OF all these measures are fixed by law, that
the public may ascertain by these measures, the
length weight, quantity and value OF ali articles
which the transactions of business require 20 be
measured
The yard by its own length its limit is fixed by
law measures and determines the length Of cloth;
cloth does not measure and determine the length
of the yard The chain by its own length measures
and determines the quantity OF land land does not
measure and determine the length oil the chain
The bushel by its own size measures and deter
mines the quantity Of grain the grain does not
measure and determine the size of the bushel. The
Mound BY its own weight determines The weight Of
cotton cotton does not by its own weight deter
mine the weight Of the pound Money by its own
value, THE limit being fixed by law measures and
deter1nines the value of land labor and all commo-
dties land labor and commodities do not measure
and determine the value of money. The length,
weight quantity and value OF all articles not sub
ec 10 legal enactment. are left 10 be settled by GER
nn measures, To which the Government has rs
signed definite limit of length, weight, size and
ID h.,, rI,r nd mi
io,mly preserve the prescribed limits, they will In
each and every transaction determine with justice
the quantity and value of land, labor and all com
modites, provided the number of measures be at
ali times sufficient and easily procured 10 effect such
determination.
The measures Of quantity aud value are necessa
~ only for the purpose Of determining the quantity
and value of the land labor aud the products OF la
boz Noone Of these measures In itself contains any
means Of support. Measures OF quantity determine
the quantity OF the various articles which arc 10 pass
from the seller 10 the purchaser. The measures re-
main stationary, their only function being TO enable
The parties 10 ascertain the exact quantity OF the
commodity transferred. But money, the measure
ovalue, passes into the hands Of the seller of the
commodity, aud he holds the money in lieu OF the
commodity sold The money balances the value OF
the commodity sold the pound weight balances the
weight o. the commodity weighed or the yard baan'
ces the length of the commodity measured. ltmoney.
the OF value. did pass into the possession
ofhe seller, he would hold no balance OF value Tor his
commodity-a note taken instead Of the money is
merely posponement of the settlement for given
period, at the expiration of which the money Is 10
bepaid. The note is held in lieu OF the property
sold until the money is paid, when the transaction
is closed and settled. The party receiving the mo-
ny must exchange il; for it is OF no use whatever TO
hin while he retains it in his possession. II he pay
ito another that other must exchange ii, Tor money
Bof no use TO any one except for the exchange OF
commodities OF itself il affords no means oil sub
sistence and il is only valuable because II can be
exchanged for articles which will afford the means
cfmbsistence When value is measured, the meas
ure OF vaue must be given in lieu OF the value meas
c!ed by il, so that the measure OF value may be
balance Of value for the value of the commodity
measured. The yard stick passes certain length
o. cloth to the buyer; the dollar passes certain
value Of a commodity to the buyer. Both are legal
Instruments of which the length and value are liked
by law, for the sole purpose of determining the
amount of the length and value OF commodities
Length, weight, quantity and value are In their
very nature Indefinite unless some limit be fixed
upon for standard TO which all other lengths,
weights, quantities and values may be referred and
BY which their amount may be computed Length
may be the circumference OF the earth or the I'M
known distance 10 fixed star or II may be the one
,housandih part of inch therefore, to convey
any definite idee OF length reference must be made
TO fixed standard. The same ndehniteness at
aches itself TO abstract weight quantity and value
bence the necessity of legal limit or standard
owhich these may be referred and by which their
amount may be asccrtained IN all business transac-
lions that the product Of labor may be justly est
mated and distributed, and the producer receive the
reward of his toll
II the limits OF these measures be just, and lnva-
riaby maintained, they cahnot fail 10 make an eqult
able distribution of the products OF labor, more than
the laws of gravitaton can fail 10 govern the de-
scent OF streams; because these measures are the
only standards by which the quantity and value Of
all the products o. labor are estimated and deter
mined. measure TO determine length must have
adehnite limit and determine the length OF the thing
measured by its own length II II vary IN lis decl-
son, i, is false and decetiu measure, and traudu-
!eai In lis use So with a measure of value II must
Dc ota Just and invariable value. This value must
DC liked and uniformly maintained wherever the
measure is used 10 determine the value OF labor or
any commodity or else it will be u fraudulent and
Seceltiul measure of value and will take from the
Iaoorer his labor and the products OF his labor
without rendering him an equivalent or balance OF
value for them. The legal measures OF weight and
quantity appear 10 be generally well understood
ano correctly used In business transactions, so that
ae proper weight quantity Is passed by the seller
70 the buyer. But money the measure OF value
seems 10 be but little understood, and its value ex
reuey indefinite and iuctua,ing Not only is this
ne case In our own country, but in every other
civilized nation YET it has always been and is still
used to determine the value OF all things bought and
soa in the nations No individual can avoid It's use
he value of his labor and of the products OF that la
eor is estimated BY this standard OF value, and can
seestima,ed BY no other, FOR this is the only stand
s;d fixed upon and legalzed by any civilized peo-
PIE The legal standard of value, however unjus,
and calculating il may be- must be used by the PEG.
pie because /, is absolutely necessary tina, some
Ssndsrd should be established as medium OF ex-
eaange 10 make the distribution of products. q. e.
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