Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1871-04-11
Spirit uf gsfttrsnn.
0harlestOwn, West Virg'a, April IL.
ANTI-BULLIONIST.
tFrOn tbe cinsiuna.,l c0nmonsr.l


True price Is money value alone"
AntI- -BullioDist.-"Allt this may be strictly
true, aud still the question would be, what Is
money, aud what constitutes the special value
Of money, aud wherein lies the power of
money, aud what is the end to be accomplished d
by itT You seem to treat bullion aud money
as the same MMg. They are very differen.
things. BGLttOH Is no IuOre n.OHcy than pork
aud flour to use the two articles referred to
by ypu ( presume) in your article on Free
Trade ia Money uuder the signature of 'Mer.
chant. Money may be made of any material
the people choose to endnw with the properties
OF money, tO-wit: the power TO represent
value, power to measure value, power to &C.
cumulate value by interest, aud power to ex-
change value aud, l will add, to be made
the ouly thing receivable for debts and tares.
These powers, not iu bullion at all, but to be
8Gc'ed to 1t before it eau become mVMey, are
all 'tegT p0cers' given by ,he entire people
who constitute money; aud when these pow.
ers are Gdse0 on IdHti, the UdlGe is added to
The polrerS, aud the two in one are no, moon
shIuey but money, ike your money made Of
bulliOn-Of real rdkue. You eau repeat Of
such money, aud of price, expressing the
power OF exchange, aud the purchasing, aud
paying power of things aud services the
same identical truisms for surely, fixed aud
given quantity OF bullion is uOt the ouIy thing
that has value ia It-eVen money UdIue-but
fixed aud given quantity OF iuud may have
an equal value; aud it the standard Value in
money IS fixed, as it ought to bo by Congress,
aud whether the money Is based GU bullion or
ON land, why, then, the land could have an
equal money UatUe, too, as well rs the buIlioa
The question, then, between US, is not whether
an iT"edeemGGte paper currency, or money, or
money made Of bullion, is best bat which
OF the two moneys is best, the one based on
bullion, or the one based ON land Of eguuE
rdt"e with the bullion And here, too, it
Will be proper TO IUquire-and whether the
mtomCy be based on bullion or Iaud-wha. is
the object Of money, and what is to be nc.
comPlIshed by il! The whole object Of nloHcy,
III my opinion, is, to facilitate tue exchange
OF USefm and UGtUuLte things among mcu.
And though you seem to cayIl ut it, / repea,
1t, 1t Is IAN instrument, means unto an end:
We do not cat it OF drink it, II there was
no money in existence, made either of bullion
or paper bond on laud and the people IcOuki
tdGor, there would DO much Iceukth ia the
world without II as with il aud as much
bullion, too, with the other wealth for labor
produces all wealth The difference would
be that the wealth could no longer be SO easily
exchanged and barter would follow even il,
relation to bullion itself; for bullion is no
more money, not u whit, than pork aud flour.
IL Is true, you say every other commodity is
an Instrument, means uuto au eud No tra>
der eats or drinks or wears his commOdity'
But It he does not, and It is \ Commodity,
somebody else can and does, or uses it for somo
purpose. You add, the function Of u COM
modify Is, to be bought aud sold, it Is nothing
elSe. admit this Is true oi 4 cOmmodity-
that Is true OF bullion but |, by no means,
admit that It is true OF money. Money is not
a commodity to be bought aud suld-the DOW.
ers OF the people are in 1t, and not those of the
'trader'-it Is u standard established by them
by which cUmmodities-und bullion annony
them are to be bought aud sold. Pork and
Flour are commodities, because all that is in
them, even to the product and pre-existiug
capItat-tO use your own words is the pro,
duct aud Pre'cxIstIug capital Of the holder
aud trader. Now, eau the same thing be
athrmed "t money in the hands Ut the
holder and trader; that all the product
aud pre'exIsting capital lu the money, is the
PrOuuct aud pre- exlstIug capital Of the hUI-
der aud trader !! The holder aud .truder'
may have had cOmmodify-even bullion
In winch lac Io.essed all the I T, duct aud bic
existing capital; but, until the people have
Orea'hed into the dead corpse the breath of
hie-endowed 1t with the power to represent.
measure, aud exchange value, aud accumulate
by interest, aud he the only thing to paw
debts aud taxes-IT is still u commodity with
no special advantages over other commodities.
Us Old Midas found when he starved on il;
but It will possess no life aud vitality OF
money; no character us a standard aud as
bullion may be very properly barted ike uuy
other commodity. The idea TO me is pre-
OS hos kTn, L. !
advantages enumerated given to the ma.
terIaI OF which money is made, merely to man.
uiacture, III partnership with the owner Of the
bullion, new commodity to be bought and
sold to his exclusive advantage over all other
commodities. 1t money may be used as mer.
chIndIse, then to make the game fair, mer-
chandlse, should be used as money; aud where
debt or tax Is TO be paid it should be paid
In merchandise valued ! aye, in merchandise
valued, according TO the annual increase Of all
the entire products of the community, and
which Increase is statistically ut the rate Of 81
per cent"
RuiIiOuiss.-"We must bring down the
volume Of our currency to capital-that is,
to solid mOney-and keep it there"
Anti-Bulliunist. agree with you, that
the money should be 'solid money but insist
that paper money, sOIidifed By its basis on
land, is as solid money as mouey made ou,
Of bullion 1t is to be preferred. too, to
bullion, because it is more owned and diffused,
while bullion, or money made of bullion, is
susceptible OF q concentration aud monopoly
that subjects, and has, throughout time, sub
jccted the masses of mankind to become its
subjects and slaves. Besides, n paper money,
based on land, is more elastic money. aud can
be more readily accommodated to the increas-
ing property OF a country and the world. than
money Of bullion which is limited in its guam
dty and acquisition. The universal existence
of Enecia. naCinr. honks-nr- r.thnr ..E h.nL.