Pioche daily record. [volume] (Pioche, Nev.) 1872-1876, 1874-12-03
WHAT Is A DOLLAR:


Many years ago there use to oe a .
mamber Of the British Parliament named
Muntz. who was celebrated for having
macmillan crotchets on the subject oil
the monetary circulation OF the country.
Hs was in favor Of paper money, or
money made of any material but gold or
silver. In pursuit Of his mania, he used
annually to bring forward resolution
n favor NJ and SO cause a debate on the
subiect. In one Of these discussions,
the then Premier, Sir Robert Peel, asked
What pound sterling was, and answer
ing his own interrogatory, said it was
coin which consisted OF fixed weight oil
cold of a certain degree OF fineness. Inc
definition was OF course too correct 10 I'D
init of dispute. Now, in this country
in these days of financial chickering's
and currency quacks, is it not well 70
ask the question as to what is dollar
The obvious answer is Of course, 1t IS
coin of certain weight of gold or silver,
each of q certain degree OF fineness'
That ia what o dollar is, and no other
definition can be given. That being the
case, what does the Government OF o
country mean whenit issues its promises
N nav one or any number OF dollars
Does it mean to redeem ito obligations
by the payment Of so many pieces o.
gold or silver of fixed weight or hne
meas. or does it intend to exchange oni
sat of dishonored promissory notes Dy
others having equally as little prospect
or intention of redemption? The reply
to this alternative proposition. If the
credit honor and advantage of the coun-
try is to be considered, must embrace
the first and exclude the last. OF that
there is no doubt. The former being an
honorable discharge Of an obligation, the
latter being nothing more nor less thar
practical reputation. II the words on
ereenback mean anything, they meal
payment, and not a substitution OF ont
obligation for another. If the latter il
the true intent of the words, then VIII.
do they not simply promise to exchang
one note for another and not promise tt
pay so many dollars. Dollars are no
rags nor dishonored notes, nor bas
metal tokens, but u certain amount 9
gold or silver offs fixed degree of fine
ness. There is no escape from TIL
conclusion, or the logic by which it
reached. How humiliating it is then t
hear parcel of fellows trying to prov
that rags are dollars, and practice
reputation payment. They are lik
the fellow that proved that tn
horse-chesnut was chestnut horse
They can chop logic and all that, bu
they can never make any sensible ma
believe that promise to pay so man
dollars means an obligation to exchant
one rag for another equally WORTHLESS
They talk about an elastic currency
and all such stuff and claptrap AZ this
and mt nna in ten thousand could u
dollars, by some hocus pocus, he p,
suades his creditor that fifty is as mu
40 y AuhuIcu huu tutu WdlkS OH grimm
ct the folly of his dupe. That is VIII
these fellows mean, when they ia
about an "elastic currency" Thu
owe number of people great deal
money and want to pay them with IF,
cents on the dollar and yet get credit 4
paying them in full. That is what thu
mean by elastic currency" Now,
the name of common honesty and con
mon sense. it does seem time for gre
and opulent people like the Unite
States to quit listening to these shi
plaster humbugs and come right dow
to the positive determination to see tn
when the government issues its oblig
ton to pay so many dollars, that it do
SO. Where there is will there is wa
and all the nation has to do is make
its mind to take the only right cours
and the means will be at once fort
coming.