The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1871-04-29

! WHAT'S noIIYi-sa Il W, |,
e'n br wn. N. ssaviA ysa- "a
sa1natf lnb i-- ~ % ~re m,l
Ny 6rt article isss gssersl sE ,Psslinins
|y-iptspdsd % sboys Eysh, ihat money
made Of gold was . kingly despotic ;nvsn.
tiou. Second, that 10 81 6Sen1 e6utitusd
in uss beesuss it previdsa' 'iths ssrsss wsy
to rob the many ibr The hsas6t of tho nv.
Third, that it mas the most dangerous ,sls
ment Of dsspotic governments sngrahed in
to our Repnblican institutions, and, FsxvtA,
that ~ MS is wholly incompstsbls with the
spiris'of our sbr1 of goveFsmeot, md hAs
snsirelyl sHbvsstsa ~ designs. istsstical
and desires of authors Of our constitutios
We come now directly to The subject,
|awhAt u Money ?" KELLOGG says thai mon
syih4 fur properties or pcwsrs. Fssst, "a
reressst vslues Sscosd, ts measure vslus
Eisa, toSocumShts valus by ntsresk kand
Foxgtk. 70 exchange value. ,nf
As . discussion Of either one Of thssa
four powers, wodid involve q partial dis
cussidn of sl, ssd prolcng shs discnsslou,
! shah eossidsE thsm id . ssnssal way, ~
ing tho gFeatast Psopinence to sstsrsst,
made. ' NJ"
Money Is the measure Of value, and Ii.
rate of interest 6xes the standard f nnsss.
urs, therefore, tn standard should be ths
same everywhere. Government has deorssd
that sixteen ounces shall make pound, and
thirty six inches shall make a yard. Sup
pose Congress should repeal this law, and
say that the people ID each stste o. city
shall have the right to rsgulaAs these mai.
ters to suit themselves, What would b ihs
resultf We would soon have yard -stieks
and pound weights Of various capacities
There would be Just as much reason and
Justice in shis, - there d N allowing sveey.
bedy to fix . measure efvslue 10 mit thsm-
selves The necessity for unifbrnity in
weights and measures !. no g-e e.e- than fos
uniformity in the rate Of iaterest but il il
ssid that uniform -ate Of interest CANNOT
bs maintained, no mater what The Law msy
BE- That This 10 tue Vadsr our pre@sl
monetary system, freely admit; bscssss
bankers and brokers' monopollse The lending
Of money. The Law OF Pennsylvania says
that 8 per sent shall BE- legal interest,"; and
yet ID ID impossible 10 borrow money u
that rase, and becsnse the business money
iesding Is confined 10 few persons, whom
neither che law Of che State, nor the law II
conscience can cestrel. All borrowers
must 70 10 them; therefore, they eau On
their own terms, that is, they make sAsis
own measure Of valse, which amouuts 70
the same thing 40 II Il was cloth they wsrs
selling. and hsd The making Of their owu
yard-stiekJ Hli.V iHsniiia1s -i'ii WI 5at
"Tbe governments reserves the YigAs "a
ix the length Of the yard, The weight 'of The
pound, the sise Of the bssbel, ssd the vulse
Of tie aollsr. Money Is the public measure
Of value, and the govesnmeat u hoard d
MIKE d just aud unborn, that ID may cor
rectly determine the value Of uii eommodi
tiss. Measures ass as6siss .qusntisiss sl
lsalth, wsishsy siss ssdvAlus. ne poand
weight, ysrd-stick Ind bushel, are measures
Of quantity, and the dollar or money u che
measure Of value H diT Hair3l l.a
"When the yard stick measures cloth, 4
does not determine its own length. .snd when
money measures property, it does not deter
mine its sWn talue.h p The law iises The
length oftbe one and the value Of the other
To alter the length Of the yard stick 10 4
high crime, and subjscks the person. gnilty
of il 10 severe punishmss<, while the powsl
Of ths dollar 10 measure valas eaa be altered
with imPuaitys md ysttbe fraud practices
uyon labor is 4 thousand times greater thar
would be the shsrteaing Of weights and
measures at the opinion Of every sellsr n
the land. "The Gover nment reserves tb,
right to 'fx iths measuring power Of tb'
dollar to banksrE 1rokers and other gaub
The man who viii stsvfsre With th,
measure Of vslas, ID gust q gsilty Of eriu'
asbs who defrauAs, his icastSmess BY ligh
weights and short yaFd,stieks rRor ~
One of The most silly and ahsad ussion
Of the day IL, thae each State shcsld hsv
the right 70 give to money legal stsndar,
--tO6a lssd suse 'ofintsrsss TIE Gov
eFsmsut should issue ali money, giving d
- A. ...s~,sa ~.,.e =, I'M ,s - ~
-. ! Non.v .,nns,as - so.l1..sS 10 ~
in no esse Be "a srticle Of barter and ssls
II was never isstttutsa 70 Be bought o.
sold its ouly fuuctions are % buv ana eel
the produces q labCr. TIE .ber:f dee
nos ny nosey. Ous ae seAs ms isooe -
ncaey ioe fsssser does NOT buy noaey
bus Be ssiis hs wAest few ncsey. Tb
maaufsetsrer does not boy money, but b
se'ls BIS ware. fer money sed the ce.ssn
er eoys vac. ne wssts VIA money thSs
Inoney s'SP'y nedmm o. exchssse. ~
.s 2. Ss.sy = IN N s.s.s.s o e eos.s,ss
~, and issimpls iseaiissi resssrr IN
b aud -f-l-i. -g------ ~ ~ WY
e'sai faterestine rtsms. oa rt.~ul
Gr The sscebf funsF,i ofthe ;nf.n. pin,
4 2Ie4.ndsr IN q vds Pr;rss Tw.is'
vbite y;oIess 'nf;nroses ,nd snsmoc,,ss -, -, ~