Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1873-04-29


we cannot do better than reproduce an article
which we find among the correspondence of
tue Eoeniag Post, overthe signature NAHUM
Capen," following an article as conspicuous
for its absurdity as this for It's excellence. 1t
is as follows: s-sy
Money exists only by legislation mer-
chandise is the product of individual labor
and private enterprise.
.'Money is the legal standard by which
value is measured; merchandise is that " hich
is valued by the aid of this Standard
Money, as such, has intrinsic value (;
merchandise is sought for only on account Of
its intrinsic value.
"Money is perpetnain its nature, and de.
signed for use !; merchandise is temporary. and
made for wear OF consumption.
''Money is Observation-Disclosures in the
pockets or keeping of the few merchandise
is diftusive, being required and consumed by
the many.
"The< identity of money is general, and
like the king, never dies; the identity of mer.
chandise is special and perishable
"Mouey has official functions, and it's at
tributes endure with he Government without
regard TO age, time, or change: merchandise
Is mere substance of temporary qualities, is
ees inevitable decay. or consumption
'Money is certificate of value and il
transformable for what it represents: mer.
chandise is the thing valued for what it is or
its uses.
'lf money were merchandise as money.
then yard stick would be merchandise as a
measure. and the cloth would measure the
yard>stlck as much as the yard-stick the cloth.
Money pays debt at the will of a debtor,
but law recognizes no such power in merchan.
disc.
''Money has its greatest and its least DOW
er according to law otherwise it could not be
standard of value with any more consistency
than we can have unlimited yard-etick or un :
limited bushels; but the prices of merchan
disc fuctuate, aud in relation to the legal
standard, according to the demand and supply.
'Money is the instrument of exchange, Of
settlement among traders; merchandise is the
stock in trade to be exchanged
"Money is authorized by law for conveni>
enoe, not profit; merchandise is produced by
the labor of the people, and for profit
money as merchandise ceases to be mnncy;
money as merchandise nowhere exists except
by legislation.
"Aloncy is loaned and borrowed on securi>
ty; merchandise is bought and sold on credit
without security
money exists only os relative agent for
measuring the value of other things; mer>
chanGise is priced for what it is in itself.
Money is an agent to promote want mer
chandisc supplies want.
"Money saves labor; merchandise sustsins
"Nloney makes the price; merchandise
pays it.
Money in itself is the greatest of powers
as an active agent, and is wanted BY every
body; merchandise is passive and has no
agency power, unless it be acted upon, and
somebody wants it.
"Whatever may be said to the contrary.
these fundamental distinctions are practically
acknowledged for while people are content
to borrow money on special terms Of security.
all are earnest 10 sell merchandise On credit
and without security.
"Purchssers of merchandise are nolitely
and earnestly solicited to buy by the persua>
.sive language of single salesman who sells
for others, while borrowers of money are cpre-
moniously permitted to make their proposition
to council of owners of merchandise, or To
a grave hoard Of directors
LAS all products designed for use. ornament
OF consumption are to be weighed, measured.
tested or valued, the governments of all ma
tIons prescribe by law the means, and hence
we have weights, measures, tests and money.
so ordered that all may understand their uses
and rondcr them available at the least posi-
BILE expense.
"Such instruments. designed hy govern
ment for the convenience of the people, re-
qulre the strong protecting power of law.
JNo. A. THOMSON.
NM 4