Vermont farmer. [volume] (Newport, Orleans County, Vt.) 1870-1877, 1875-10-22
The Science of Wealth, No. 8.


A practical question in these days is,
what is money? Who can tell2 The fol.
lowing dialogue between "Bondholder" aud
."Uncle SAM" found 10 the last number Of the
Irish World will illustrate. Says Bond
holder, while exhibiting piece Of coin in
his handy This is money. Your green
back, Uncle Sam, isn't dollar, it is only
promise to pay dollar. You cannot carry
on business. on the strength Of il. You are,
know. a man Of immense resources, i'm
mense enterprise and immense industry; but
you can't carry on business without money.
Don't you SEQ, Uncle Samuel, chi But, to
Obligc you, l will lend you money and take
your note at six per ccrt-just to help you
along these hard times, you know. What
say you, Uncle Samuel, eh ?"
Unele Sam tholding out his greeuback)
replies "Wa'al now, Mr. Sharper, it may
suit your interest to put it in that light; but
guess ought to look at the matter from
my point Of view. What is money! 'COrdin'
to my definition, money is current sign or
token that passes 'mongst the people as a
representative Of property. That is money.
Now this greenback--this current signs
received by the people as such. It's money.
II represents real value. 'Taint the shine
and jingle Of them pieces OF yaller metal
Mr. Sharper, that induces people to take this
here bit of paper--it is the solid worth
behind me- Ny hand and seal is put to this
nOte-that gives it credit--that makes it a
lawful tender in payment Of all debts; and
this here farm Of mine and these houses and
all that you see round bout them, are Q
mortgage on this note, giving it real worth
making it, in fact. money-and if you
Mr. Sharper, aud all the other Sharpers IN
Wall street, was to be swept away by al
equiuoctial gale and sluug on some Gambia
island or sent to Days locker tomorrow
the times, guess, wouldn't be bit harder
not q bit an Uncle Sam and his famil,
would be just as happy, and we could drive
business Just as brisk-all with our green
back mOney--as now when you philanthropiC
gold lenders aud clever gold gamblers arr
round"
Leaving Sharper and Uncle Samuel to set
tie their dispute, we will repeat the inquiry
what is money! Let characters in histor.
answer. "Cattle are money" says the sa
bic African. "Slaves are money" says tn
old ADglo-Saxon our venerable progenitor
"Wampum Is money" says the Americas
Indian. salt is money" says the Abyssin
ian. Goldfish is money" says the iuhAbi
taut of Newfoundland. Tobacco is money
says the old Virginian who lived in the day
of Patrick Henry. Wheat is money" say
the early settler in the old Bay state Of NeV
England "Nais are money" says tho an
cient Scotehman. Stamped leather
money! says the CarthAgenian. "BarL
bearing the image Of the sovereign, is money,
says the ChinaTnan. "Platina is money,
says the Russian. "Iron is money" say
the Spartan, Cooper is money" says th
old Roman. l"Gold and silver are money,
say all the civilized nations Of the earth
All these different articles have been use
; for money, by the different nations,
Aud still the question returns to US, VIVA
is money! We answer, money is anythin
that affords satisfactory medium Of e'
change. Now then, all these answers al
; correct, if the nations using tho different Al
tiOles for money were satisfied with the
medium Of exchange. But money is NJ
bank bills, greenbnoks, or United Stat
bonds. These are only promises to pa
money. What then is money! We answe
that substance, whatever it may be, whiC
is represented in the promises to pay Thu
substance which satisfies the demand Of Ii
b creditor, and is taken as an absolute al
Q standard medium of exchange. BY uniyers
consent gold and silver are accepted as Il
basis of all business transactions. Hem
/. gold and silver and copper are money,
our day, and there can be no other kind.