The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1875-10-07
Some Sophistry Punctured.
From the Indianapolis Sum.

From the Indianapolis Sun.
A correspondent Of the Cincinnati
Gazette, Hon. w. III. West of Belle
fontaine, Ohio, has been writing a
series of fsupposititious interviews be.
tween William Allen, General Carey,
and hard-money farmer, in which he
in very adroit manner makes Carey
aud Allen admit very absurd premises,
and then goes on to demonstrate the
ridiculous conclusions.
The work is well done, and calcula-
ted to deceive any one not well versed
in the money question. West is un-
questionably good logician, and, as
represented by the hara-money farmer
gets in some good work on his adver-
saries. But when one understands the
process, it is very easy to see through
his sophistry. Mr.. West, as the farm
er, reasons continually from false as
sumptions as premises. but by making
Allen and Cary acknowledge his
premises, he can, of course, demon
strate their theories to be erroneous.
We give few samples Of this adroit
electioneering gag. This is a passage
IN the dialogue:
Farmer-What is the measure by
which the value of anything is deter
mined?
General Cary-Money.
The farmer accepts this answer as
correct; but we venture tho assertion
that General Cary would make no such
answer. for we think he is too well
posted on the money question to do
so. Money does not "determine' the
value of anything, A bushel Of po.
tatoes or wheat would still have .
| value, if there wasn't dollar Of money
in the world. Blot out all money
everywhere, and value still mains.
If Mr.. West uses the word "value" as
a synonym for ''price," General Cary
would most likely answer that money
only measured out the price after that
price had been determined by the law
of supply and demand.
After making General Cary to say
that "w hen the government stamps on
piece of gold or silver or tin or paper
certain mark and calls it q 'dollar,"
and s'then it is a dollar" he proceeds
i'armer--Does it make any difference
what is the size of the gold, silver, tin,
and paper pieces, relatively?
General Cary-Not any they may
all be of the same size. Ii they bear
the dollar stamp, and the government
declares they shall be received as dol
lars i'll payment Of debt, that aciH be
their Ualue.
Value is here used and intended to
be understood as market value or
price. Of course that answer is very
absurd, and any school-boy can dem
onstrate its fallacy. If Congress
should authorize an agent to 60 round
the country stamping all the railroad
locomotives and steamboats, and gold
watches, as sdollars" and make them
legal tender, it is not very likely that
that would fix their value at q dollar.
But one thing is certain. If General
Cary owed Mr.. West q dollar and
could tender him such a stamped loco
metive, steamboat, or gold watch, it
would pay the debt. And if the goy-
ernment would stamp pigs ears, old
shoe soles, or birds nests as legal-ten-
der " dollars" either Of them would
also pay the debt.
General Cary is made to say above
that thesgovernment stamps upon a
mass of gold of any size, however
large or small, makes it of the value
(market price) Of one dollar. Not so,
unless such were the only dollars. 1t
would unquestionably give the article
SO stamped the legal-tender or paying
power of one dollar and no more but
if there were other legal dollars con-
tanning less amount of gold, or Of
material of less market value. the dol
lar containing the larger amount
would have market value as COM
modify just as much greater than the
dollar made of less amount Of gold, as
it exceeded in weight the lesser one.
Mr.. West, or the hard-money farmer
whom he personates, seems to be OBJ
livious to the fact that geld dollar
has two values, one of which is not
affected by law in the least, but the
other of which is specifically created
by law, and is essentially and strictly
4 legal or money value, as distinguish
ed from the other, which 10 market
or commodity value. In common
with nearly all bullionists he fails to
discover or refuses to acknowledge
this fact. II the crop of wheat should
fail for one or two years, or from an
extraordinary foreign demand or 9TH
er cause it should become scarce, aud
that condition should be still further
aggravated by statute of the United
States requiring the subsistence de-
partment Of the army to purchase 10,-
100000 bushels every month to be
Withdrawn from the market, Of course
wheat would advance in price. These
extraordinary circumstances would
cause it to be quoted in the market at
SIS, So. or perhaps $40 per bushel.-
Everybody would say wheat was high.
Mr.. West, or his hard money farmer,
would be the first TO acknowledge and
proclaim the fact that the price had
advanced. Yet when gOld-gold in
bars and ingots-becomes subject to
the same conditions, they will not ad-
nit that it has advanced. No, no. 1t
is something else, eoerything else that
has become inflated. Gold, they say
cannot change. 1t is the ''.standard."
1t may become SO scarce and high even
that one dollar (25 $40 grains) would
be equivalent in exchange to 16O-
.c.a form, hut fhay would siill in sf