The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1874-12-11
DIR, Lord on Gold and silver,

DR. Lord on Gold and silver.
Edjto, Rutlond Gl0Je Il should like TO
present, in your columns, a few words in
reply to ~ Communication read in your
paper this morning, as it S mply..a IN tter
of political economy, and not any'pel olal
alteration.
The writer says "tliat things have value
when they are objects OF mans desire, and
can be obtained only by his efforts. Gold
is an object OF mans desire, and therefore,
is wealth. The laborcr, in digging for
gold, is adding to the wealth of the world,
because he is producing the objects of
mans desire.
The proposition, understand TO be, is,
that The attainment OF mans desire is
wealth. That wealth is a great object of
desire, no one doubts. The love of it las
been the root of evil in all ages. BIT man
has other desires.
For instance, he desires tie qualification
of passions and appctilcs, and we see
every day men going to destruction in con-
sequence thereof. That. surely, cannot be
wealth. He desires political distinction.
That, again. is not wealth. He desires to
entertain his friends. which is far from
wealth.
But suppose he desires 10 build big
house, larger than any of his ncighbors,
and the stately mansion arises, a beautiful
structure-a work of art, of taste and ele-
gance.
This house has been built either to crafty
wants, or as work Of art, and il has an
aesthetic value like statue, or Il picture,
or golden ornament. If we discard art
and beauty, civilization is robbed of some
of its grandest features.
But aesthetic culture is not material
wealth, any more than love or friendship.
1t has its value, but that value pertains to
the mind and soul, and not TO material
wants.
For instance, the grand house, while it
gratlfies taste or vanity, may be beyond the
means of the man who builds it. lie is
obliged to sell it. Nobody wants it. Ii
y lis LOT NAH us COst. lluii 10 '"'"' Is
sunk, as mere matter of wealth.
And if anybody built grand houses
which cxhausis other resources, then tho
industry of the country is diverted from
its proper channels. 1t is simply WASTED
wealth. How much has Versailles added
to the wealth of France 1t helped to i'm
povcrish France like useless wars.
If everybody should dig for gold the pco
pie would starve, and the vast piles of gol'
they accumulated would have diminished
value More would be collected than
needed for circulation as n medium of cx
change, and perhaps for ornaments Hal
as much gold would buy as much as tn
whole of ii, if there was supertiuiiy.
l When the medieval cathedrals wer
! built, men toled for penny day. Blu
i that penny bought as much wheat, wine
beer, meat and clothes, as two shilling
: would buy now. The cathedral which cos
= 100000 is as valuable, and represents q
c much wealth and labor, as Il catheGrs
which would cost. in these times, -, 900
U 600. Had gold been as plenty in the middl
II ages as il is now, it would represent onl
d one-twentieth of the value Of the thing
. which gold purchases houses, lands, foo
u and clothing. 1t is these houses, etc, whic
o constitute the real wealth, since they rel
c resent the industries of country.
J. So that gold has no value, except for o
&c namcnts, outside of its representation {
Il houses and lands and food and clothing
q which again are the fruits of industry.
n is the industries, and not the gold, whiC
o is the wealth.
le Still less are gieenOacks, which simp
If represent gold, worth anything except
t. they purchase gold and the more gold The
lie purchase, the more valuable they are. Co
tincntal currency, when deprecated TO OF
per cent. was worth only one per cent.
l. gold One bundled dollars would buy on
what one dollar ought to buy.
NJ Men cannot create wealth by invention
G. or speculations, or ingenious devices. TIN
"a can only create wealth.by labor ON the farl
81 or IN the shop, or in some industry of Il
c. ccssily. What labor is expended for orn
We ments has only an aesthetic value, and tn
r. you may put at any value you please,
II you put value on pictures, and even up
ie consecra,ed sentiments.
u, | would give high value 10 those thin
~ which adorn and beautify the world, a
d. elevate the mind, and refine the sentmer
Az and manners and tastes. But all this
w mmaterial, not material. Wealth, log
y ally viewed, is material good. And &C
nj is only valuable, in material sense, as
c's represents what is material, even the
e. dustries of nations. >. l..
ell POLITICAL ECONOMY.
ca Editor Rutland Globe Il see that "
as correspondent, III ST. is disposed to G
,e- tighten your readers on the vexed and I
OK settled subject of political economy. VIII