Mineral Point tribune. [volume] (Mineral Point, Wis.) 1854-1858, 1858-03-23
For the Tribune.
The Traffic in Money.

Laid open, without rest RANT, I" the control of
spectators. the article being. 20, brought TO
obey motor IL fuences other than tn, Sc of steady
AMI wholesome trade. what should ensue, but
that the office of money would be imterfered
with
In passage of my former communication
which the omissions of your compassion obscur-
ed. thi. interference with moneys function was
declared 10 be, to Effect, akin to inordnate i'm
port.t M or expectations ofthe precious metals.
Shall this be put in a way 10 seem ycrv clear?
Money is about its proper business when.
being pnt forth cheque lien upon SONIC
thing OF value offered for traffic, but which hap
pens not TO be at the time and place wanted, il
yIcarIolsly serves instead Of that which IS incur
rent. As already implied like the numbers in
Logarlthnls, 1t is purely m exponcnt-an ex-
poncnt 70 wit, of thai portion Of the valuables
which, on a given day, changing hands IN
the worlds market. which direct barter does
not take up. Il fetches value. because it repre-
se1ts value. It's relation, retrospectively, 10 an
Hrchetype, its own proper substratun, ia some
integral portion OF the worlds stock, is what
gives 1t its life as money though it travels
oB, this integral portion which it represents, is
being substituted successfully by another and
another. Thus its course through the worlds
market j. like that of along the surface
Of the ocean-ever and anon covering different
materials yet always one aud the same wave
and the same single shllling's worth, in cf-
igv.
Money, gnoad hoe, then tells in the worlds
market only rs counter; and. such, it il.
fair to say, that the traffic in it should be held
within linits-such limits precisely as the
convenience OF tradespeople prescribes,
This exponent office of money lies at the base
of observation of the \. Y. I've Post,
THAI the currency OF the world is worth
the property of the world, neither more nor
less that much of the property of the world.
ihat is 10 say, which Is in market at the time
cf striking the equation. This is but to say that
money is the standard of value. The Post adds:
If half of that currency is in paper, it is worth
just much a. the other half which i. in spe-
cie; SO long rs it will purchase much rs the
specie"
Coin and paper are, alike, (as money! coun-
tiers matchmaking to ue duly distributed. &c
cordingly as required. or they are nothing
Who doubts that this representative office is M
eminently delicate one Who fails to see in /,
s blood IN the animal system, and who hears
8 with surprise that there il danger to 1t from
congestions, Is well as from impurity
If steadIness. (the conforming evenly, as Il
quantity, TO the growth or the declension of trade
S l. a sine q''G non Of Mt exponent Of value, :,
also Is its ready flow in answer to the course o
exchange. To this end. money must have il.
colPorteurs-its transport department, Their,
must be money gatherers and money lenders
s. The question i. need they be restrained fror
following the temptation to engros.,with view
10 operating upon the market with special ef
feet. Is there. or IS there not that of univer.
sal necessity, that all important availableness
that peculiar susceptibility of derangemeu,
about money which justifies the keeping it, a.
much rs may be. out of the hands of speeula
tors
We have submitted in oar way the principle.
which must govern the pro and con OF our usu.
- avs. Cox