Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1869-01-19

"labour sd0ing machine, and nothing else
it is not wealth, it is not merchandise, it Is
not thing that will feed us, clothe US, or
answer for our lodging; it's simply ''labou,'
saving machine" fer the mutual exchange of
those things that are wealth, that are food,
raiment, and lodgingl This being the true
nature of money, the next question is, who
created it, who introduced it, who made it
what it is, and, gave to it the character of
money? Did apy individual, of this com-
munity Of the thirty persons, create and in
troduce it, SO that he shall have the exclusive
right to use it as he pleases? BY no means ::
1t could not be, in the nature of things ereatsd
by any one of the thirty members of society,
of which we hayesspokehe No one member
could give to it that chatpcter which consti-
tutes money. Itcould aessaire that character,
of money, only by the agreement and consent
of the whole thirty persons, who, constitute
that community. Well, the whole thirty
persons, of that community, did agree and
consent to constitute money, as a "labour
saving MACHINE" to effect the exchanges Of
all the farmers, manufacturers, and COM
mercial men Of that community of thirty men.
If the whole thirty made this "labour saving
machine" as common instrument for the
whole thirty, of farmers, manufacturers, and
merchants, how is it, or how can it be that
man who is neither farmer, manufacturer, or
merchant; and. who produces nothing to
exchange, shall seize it and use it to bother
and injure all these people, who, alone have
things to exchange and who produce tae
entire wealth Of the community?
But the next question that arises is, in what
way did this society of thirty persons create
and constitute money? What did they do to
give it the character of money, and what, in
fact, is money! Well, money is defined to
be ga piece Of metal stamped with the eff
gies of prince or arms of State, which
makes it current, and authentic to pass at
common rate :" and so, money is a species OF
property that is valued, while no other prop
erty is valued and made ''authentic to pass at
a common rate )" and moreover, it is made
the only thing to be received for debts and
taxes and this valuation and these other
qualities are given to it, not by any one indi-
vidual Of the thirty persons who constitute
the community, but by the whole community
of thirty persons; and they give it this val
uation ard they stamp upon it these peculiar
properties Of being received for debts and
taxes, while no other property, at valuation,
may be solely for the purpose of making it
common medium Of exchange for all other
things or property. In word, this society
Of thirty persons, equally divided, or pro-
portionately, into farmers, manufacturers and
merchants, created money, and endowed it
with its special attributes enumerated, SOLELY
and only, for the purpose of enabling these
farmers, manufacturers and merchants. TO ex-
change their respective products without the
tedium and circuit Of barter. This was tho
object of creating money, and the sole object.
They never Imagined that one, or any part of
these working people Of the thirty, would
cease to farm, or manufacture, or trade, and
of course, cease to have q common interest
with those who farmed, or manufactured, or
traded, and should turn in to making aprOtit
upon the common instrument of trade; and to
buy and sell it, and TO deal in it, as though it
we're an article of merchandise, and in fact a
product Of farming, or manufacture, or OF
commerce. TO treat such an instrument III
this way, would be to defeat tho purpose for
which it was intended, and at the same time
to give to the mere Instrument of trade
despotic power over trade itself IN all the
products of the farmer, the manufacturer, and
the merchant! And this too, when the in
strument itself, in point Of valuation, amount
cd to only onc-tlirticth of the articles OF ag-
ricuturc, manufactures and commerce, that
it was Designed simply, to exchange. At
this point, and'wheu l say the exchanging
VI
the things to be exchanged, it will be proper
for me to state that, in the opinion of the
most scientific statists and political econo-
mists, one -thirticth in money is amply suth-
cient to exchange any amount of exchange
able values. This is the opinion expressed
by the philosopher and statesman, John Z.
Calhoun, in his great speech on currency, to
be found in his works. Taking this to be
correct now let us come back to our commu-
nifty of thirty persons, consisting of farmers,
manufacturers and merchants, and suppose
each member of this community to be worth
one thousand dollars; then, one thousand DOT
lars in money would be enough to do all the
exchanges of'this community, whose combined
property amounts to 600: That is to say,
it will be all that is necessary for their honest
and legitimate exchanges, if they all continue
at honest labor and production, and honestly
use this "labor-saving maching OF 81, l,OOO In
money, which they have created in common
for their mutual convenience and to which
they have each one of them, that is the farm
er, the manufacturer and the merchant, given
special advantages and qualities over all their
own products, in order that by these very
speciuI ddUantaqes and qualities they might
make it-this 81 600, this machine chs istencd
naoncy-answer the sole and only purpose for
which they created it, to-wit labor saving
machine for the exchange of all the products
of the farmer, the manufacturer and the mer-
chant, respectively! Such was, beyond all
doubt. the purpose-and the sole purpose
for which these thirty men-this community
erected money ; and he, of that community,
who uses it. for any other purpose, commits a
Rogrant crime and fraud against that COM
munity. Yes, a fragrant crime and fraud,
against that confding community! Yes,
again, and again, RqgTant crime and fraud
And if that community had brains to under
stand the crime and fraud, as well as Cato
the censor understood it-Cato, the soldier,