Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1869-06-15

and relations" in regard to money, in which
a debt or ta5 is tobe paid l answer that,
by the agreement of all statists and political
economists, the 30th part, an money, is SUI
fcient for the exchange of any amount of ek-
chahgeable things; and, that all these er-
changeaJle Mings-when money as "labor-
saving invention"-as before named, has been
introduced-bear the relation of 80 to l !:
That is to say, you cannot touch this unit
thus made the exchanging n,cdtun, for 30
parts-ths whole tf all the exchangeable
things-wthout touching all those things at
a Mirty,foM rate Only think of tRis-this
mathematical proposition-M Wade and,
then, you will see that, whenever, yol touch
this unit-this point-this thing constituted
money-you touch to thirty-fold extent all
the intrinsic and exchangeable things-in a
word all the property of socicty-all the
property of all men
BY way of illustration of this principle,
let us imagine little continuity of thifty
individuals, each worth S1,000-the aggre-
gate, of course, $4,000. In the first instance
fll these pcople-in the absence of money
are at work and trade and barter with each
other. But they find that barter is slow and
circuituous, and they introduce money, (and,
this is the history of money as given by Aris-
totle who, in the language of pisraeli, has
taught men all they know about politics and
government then, they make, for the first
time, all the 80 parts of property to have a
relation to this 30th pa,t, called money
Now, let us see. how ttrenty>nine parts of prop
erty will be affected by this 90th part. If
there is in circulation, in this proposed COM
munity of thirty persons, each worth 81 600,
$4,000 as money! then, all the other 20
parts of property, in that ,eommuhity, will
hold to that 3Oth part fixed relations. 1t is
assumed, bear in mind, that This 81 ,OOO-this
3Oth-is necessary and indispensable as an ex-
changing medium for the 80 parts. Then it is
manifest, thatifyou touch that exchanging me-
dunn, you touch the arhOle property of that
community of 30 persons to thirty fold the
extent! FoF the sake Of example, suppose
that single individual Of these thirty per-
sons, sells one-half of his thousand d6llaTs
worth of property for money, he would then
have one.haIf of the whole exchanging me-
dunn of the community in his possession =
AL lie has to do, is to hold on to it. and to
keep it out of use and circulation, when that
3Oth worth of property, holding fixed relatiots
to $50 900 worth of the same property reduced
to one>haLf-that is to $500 instead of $1,000
of money-wil reduce the 10000 Of the
property of that community of so persons to
$4,000. And, then, this same scoundrel,
who has violated all the agreement of the 80
persons, who introduced this 30th part of all
their property-to>wit 81 900 as noncy-to
exchange their productions-in the very act
of purchasing the property of this community
at the reduced rate, to-wit: of $4,000, by
letting back into the circulation the $500, 90
he held up, restores the property to its old re-
Lott IN fo onI hoe IOnh1a1
his pile as against the honest men who were
at work, whilst be vas cheating, and shaving
and perverting their "labor saving invention"
for the exchange of thirty men, who all were
presumed to be producers and all. fairly using
this same Instrument In this exhibition of
the principle, the people, unless they are as
blind as bats, and as stupid us the "deaf ad:
der" may see the concentrative principl6 of
money and the power of few scoundrels in
Wall street, New York, and their confederate
and minor brethren throughout all our towns
and villages, without working themselves, or
adding one silver to the wealth of the coun-
try, to hold all that country under contribu
ton, and to cheat it and to rob it through an
agency, to~wit money, that was intended for
no such purpose, but simply as ga labor saw
ing invention" for men who worked aud add
ed to the common stock and who used this
"labor saving invention" for exchanges, in
good faith. Now, let society do justthe same
thing in regard to other mems labor and other
mems products, that it assumes to do in re-
gard to money-the product of one 30th of
that society-and there Eil be no complaint
of inequality and injustice, and all men will
be able, when property is fixed and held at la
bor's prices, to become the owners of property,
and labor will be emancipated from its present
servile and hireling condition, to one species
of property-to>1it: money-the 30th part
of all property, which is, par excellence, styled
capital, and which is patent lie, for the 5Oth
part of $4,000 can, in no arithmetic, be
made equal to the other 20 parts
You will perceive, Mr.. Wade, that thus
far have been talking about money, and its
relations as only one-Mirtieh of all the prop
erty of society to the remaining t,centy, nine
parts But, what is money? Surely, as a
30th part Of all property, it must be like all
the other twenty-nine parts, representative
of labor-of so much labor Money, then,
must be something that requires labor to pro-
duco it. 1t must be gold, or silver, or steel !;
or something else that is virtually labor be-
cause it is necessary that labor should pro-
out of thirty would have to labor; while the
of laboring, and yet would have the supreme
control of twenty-nine men who were lo6oring,
and producing all the Tealh of society !
My object and design is to inject into you,
Mr.. Wade. if can, the idea that us,uy and
paper money are the sole causes of all the
complaints between capital and labor nay,
that any such distinction exists, for, in truth,
labor is capital, and capital is labor! They
are, or ought to be, identical. For, abolish
and wipe out this twin fraternity of all 0iI-
1aing and inequality, to-wit: paper money
and usury and all men will, according to their
will to labor, and their capacity, become the
architects of their own fortunes, and cease to
be the menials and hirelings of others
As things now are; there is no such thing
throughout the world as honest trade; that
is, fair exchange of the products of labor
for the products of labor-of equiUdzents for
eli;;yt,Leo,s where both 11nrtieS are eoudlIY