Republican vindicator. [volume] (Staunton, Va.) 1849-1857, 1857-12-19

certificate of value, and is transferable 70
: what it represents; merchandise is the thin
q valued for what it is, or its uses. If mon
ey were mercha ndise ss-meney, then var,
Y stick would be merchandise as measure
# and the cloth would measure the yard stici
as much as the yard. stick the cloth
= money be merchandise. and a,law is passet
, to make it so, then al merchandise should
be made by law money. which would be
literal destruction of the invention of mon.
ey Whatever commodity be selected &C
! serve rs money, is invested with special
. powti and it is the greatest power confer
/, red BY government. The proposition that
because a man possefse the legal right tc
demand what he pleases for this iassu. his
merchandise aud all other property, that
: therefore he ought to be authorized to ask
and receive what he pleases for his money
that because the free tsado principle pre-
walls benefcially in relation to all other sub
jects of property, therefore Il would 0per-
ate benefciaiiy in relation 10 money--is a
proposition to confer upon mopeJ all the
privileges as to terms that belong to mer-
chandise. \ OWNS horses, and houses, and
money BY law he can let his horses and
his houses for the highest terms he can OBJ
tain. Why should he not have the same
power to get as much as be can for his mon
! ey? The substance of the answer which |
should give. To this merely popular and
plausible argument IS his IF this argu-
ment. which proceeds from tie creditor side
of the house, could be SO modified as to
place money on level, in all respects, with
merchandise, Or other property, no rational
man would object to the change. But they
dot propose equality of function and power.
They dc not mean to equalizc the powers Of
! money and merchandise. The credi tor
says, l ought 10 have the privilege Of
using my money as merchandise, and to
obtain the most can for its use" Merry
well. But il money il to have all the priv
ileees Of merchandise, then merchandise
should have all the privileges of money =
Ii they are put on a level as to the use of
the creditor, they should be put on a level
az to the use Of the debtor. But will the
creditor consent that land, Or 4. bale of
goods, shall be made tender in payment
ot his debit Why not? Here ;s.as much
IN article of ,rade.as the ether, they should
be treated ahi.el nall respects. 1t was not
the design of the law so to- treat them. =
The same law which gives to the creditor
the power of refusing every thing but gold
md silver IN paymesat 6f his da6t, ought to
fix the value of that gold and silver But
by this new theory the creditor is not only
entitled to refuse everything but -gold and
silver but to be the judge of It's yaiue, or
in other words, to demand what he pleases
by way Of interest. TO be consistent, the
law that eonfoTs greatar privileges upon
money than upon nerd, eldise, should also
impose upon it greater restraints. If they
therefore, propose to destroy tins pro-emi.
hence Of money so far as its use by the cred
itor, they should destroy it so far as regards
its use BY the debtor. But What they do
propose is TO extend the privileges of the
creditor in fixing the value of his money
but not to extend tte,privileges of the d ,bt-
or i'll the use of his merchandise If mon
, ey is to be treated as merchandise by the
creditor. merchandise should be treated a.
money by the debtor. But, to treat money
rs merel,sndise-to give to the creditor the
power of asSilgNwhat he pleascs for its use
is dissertation Of its original and sole
design. 1t was created by Government as
a test Of value, as 4 medium of exchange
1t stand as q 5o;,fd tree in the forest
Neither adjoining owne~ lee right to use
it for any other purpose. IT derives all its
value from government, and government
alone orght'to fix fts va,ue Money pays
a debt at the will ofthe debtor; bet law
recognizes no such p1we' in merchandise
Money has minimum and maximum pow
er according to law. otherwise it could not
be standard CT valro with any more con-
siStency than government can authorize un-
limited yard sticks, os unlimited bushels
but prices Of merchandise huctuate, and, in
relation Is the legal standard, according to
demand and supply. Money is the instru-
ment of exchangc-of settlement among
traders ; merchandise is'the stock in trade
to be exchanged. Money is authorized by
law for convenience, not SToft; merchan-
disc is produced by theiabor &C the.noople,
and for profit. Money as merchandise
ceases to be money; merchandise as money
nowhere exist except by legislation Men
ey exists only as a relative agent for mea-
surfing the value of other things mcrchan-
disc is priced for what it is in itself Mon
ey is AN agent to promote want merchan-
disc supplies &art. Money saves labor J;
HleftHaH ilse sustaiua IL. money MAKES the
price merchandise pays it, Money is bor-
rowed and loaned merchandise is bought
and sold Whatever may be said to the
contrary, these fundamental distinctions
are universally acknowledged, for, while
people are content to borrow moneyou ape-
cial terms of security ali are earnest to sell
merchandise GA credit, and without such
security. Purchasers of merchandise SIRE
politely and urgently solicited to buy while
borrowers of money are tremendously per-
United to make their propositions. As all
products designed for use, ornan.eat, or
consumption are to be weighed, measured,
tested, or valued. the governments of all
nations prescribe ky law the means; and
f hence We have weights, measures, tests and
money, so ordered that all may understand
> their uses, and render them available at the
least possible expense. Sucl instruments,
{ designed by government for the convenience
cf tic people require the protecting pow
er of the most stringent laws. y
! Several of the States and Territories have
e tried the abolition Of laws against usury
I and have been obliged to revert to the mos,
! stringent provisions against usury. The
p =