Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1872-04-16
Spirit Of gctfcrsolo.
Charlestown. W.. Va. April l6, ,72.
WHAT IS MONEY!

In order that the people may have before
them the fact in figures, of the dangerous and
the destructive nature of the instrument,
money, which they created as common econ.
venience" for all and intended to be used as
the servant and not the master of labor aud
property; when it is perverted from its ex-
press use of measure of value aud simple
erchdnger of values, and clothed with the
same nature of values, aud dignifed with the
misuomer of copitul; send to the Spirit
the friend of the people, in all struggles with
monopolies of all sorts, Banks or railroads
the following extract from the New York
Mercantile journal, of the 9Th of April
The only error see in the extract is that
the Editor calls money capital: He does SO
| suppose in accordance with common usage :;
but still it is error, and calculated to misead.
In former communications / have, more than
once, called public attention to this error !;
and have said that the great question now
agitating the world of "labor and capital is
not strictly stated it should be the question
OF capital and money; the question of the
substance and the shadop; of the master and
the seru"nt; of the thing itself and the mere
representative of the thing. The onlv thing
that can be properly designated capital, is,
labor and the Tror7actions of nJor! Money
is not capital, but as my friend Mr. Fisher
A. Lewis showed clearly in his late letter, is,
like the ydrd stick and the bushei, simply and
only measure of values it only differs from
those measures, in this, that it passes into the
hands of the seller of values, as the yardstick
and the bushel do mt but stllIt passes into
his hands who has given actual calucs for it,
as medSure-and as a measure of actual
values, when he who holds it, is disposed to
again receive actual values or capital! He.
has ha L., ! 80 p4l,
he is to receive This is the purpose for
which he got it; and the man who receives ii.
has right to do the same thing with this
measure; but he has not right to do any
thing else with it: Society and law, when
they created this measure. meant and intended
1t only as a measure for the convenience" of
all In an cnchnnging measure its functions
its legol f~nctioms-eud To add To it
functions that the law, its creator. aud sover-
oisn power, never intended, is in the nature
ct cOn"ferfcifing and to,ye,y; and that kind
OF co""terIetiny and forgcry. is and has been,
in all ages, the true and only cause of the ex-
orbitant wealth in the hands Of the few, and
which the few have stolen and rohhed from
the hands of the many, by this iniquilous
and unhoiy perverslnn Of a measure and reps
rcSenf"ticr, into n subsfonre-intO cnpiiuI!-
But, | will proceed t. the extract. that
all may see the difference between ,a0ucy and
c"pHuI-the master and TIE serrnnt and,
how the serront can lord it over the spns,rr
and bring him to beg.arv and rags. if the
srrn""t-nomcy-is not kept in his proper
place!
believing that it is mnt:cr of rerv great
Importance to all classes of our fellow ci,;zpns
TO have full appreciation of the great differ
ence in the power Of capital to increase at low
and high rates of interest, {not forgetting that
our national werith has only increased the past
fifty years at the rate of about 81 per cent. per
annum) we again present-the following state
ment:
elf one dollar be invested and the intaro.t
added to the principal on""nHy, at the rates
named. we shall have the following result, as
the accumulation of one hundred years: