The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1875-02-05
REPLY TO ga rALKNTHR
GRANGE


Edition NEWS: In your iseue Of
the I'D inst, notice the report of
discussion had in the Emporia
Grange, of some of tie phases of
the currency question, which is, at
present considerably sgitating the
public mind. As this is a subject
that mors or less materially inter-
ests al of us; and as the further
consideration of the matter was
postponed for future examination,
l hope the addition of a few
thoughts by an "outsider"-so far
as the grange is concerned, bnt q
ABrother" in interest and sympathy
will not be considered an intru-
sion.
First, then, in said discussion, l..
is reported as saying: "Then gold,
or promises to pay it, are not real
wealth of nations?" Bre. r. re-
plies: "Labor and its products :;
such as cora, cattle, cloth, houses,
ships, railroads" L. responds !:
"True. Money is not real wealth.
1t is only q representative of it,
&c. Now Mr.. Editor, l never con-
sidered labor as sceaIth. 1 only
thought 1t, in enlightened nations,
the leading source thereof. On the
other hand, 1 do estimate gold to
be an clement of the real wealth of
9 nation. Gold has not only a rep
resentative value, or q value as q
medium of exchange, but il has an
intrinsic value. History informs
US that, from "time immemoriaI, .
1t has been uniformly held in very
high estimation, not SO much as a
currency, as for surgical, mechani-
cal, ornamental purposes, sc. Its
being the most ductile and mallea-
BILE of metals, together with its in
corrosive and other valuable feat
ures, renders it aim ost indispensa-
BILE for many useful purposes. Ask
your dentist lift has not a real value.
Inquire of Your book-keeper of
what material is the best pen? I
guarantee his answer will be.
"GOld." OF what the second best :?
"Gold." But 1 will not multiply
examples. L. admits that E'cloth,
houses, ships, railroads" are real
wealth. Then why not admit gold
to be such also, real estate. There
fore, if it be conceded that gold
has an intrinsic value. and that it is
not as abundant as limestone, it fol-
lows, as a matter of course, that sif
gold acre as plenty as limestone"
the world would be richer.
Secondly. But l.. continues.
''But what gives gold its specific
representative value? Why is la
borers work worth a gold collar
per day ?" Bro. Il. replies: 'sBe-
cause that is about what the gold
COSTS" l.. exactly so. Taking
one case with another, gold dol
lar costs days W rk in mining and
coming" Mr.. Editor, is this state
ment in accordance with our exper-
fence or knowledge of existing cir
cumstances Did Bro. l.. ever
know or hear of person who
would mine gold at a dollar a day !?
Do not miners average from sf.c to
ten dollars per day, the world over ?
Besides, the value of gold is like all
all other commodities, fluctuating,
and governed by the all pervading,
and omnipotent agency of supply |
and demand, Ex-Gov. Robinson to |
the contrary Notwithstanding. All
values are comparative. The price |
of gold is not so far determined by /
its absolute scarcity or cost as by its |
comparative scarcity, and the de-
mand created by its great utility, as
more than limited above. "Dollar"
is but a name applied to q certain
amount of gold of specified quail
ity, and its value, Or purchasing
power depends upon the supply and
demand of the commodity to be
purchased by it. For instance, the
U. S. Congress has determined that
the gold coin of the country shall
be composed of eighteen-twentieths
pure gold; two-twentieths of sill
yer and copper; the silver not to
exceed, in weight, the copper, and
that 25S grains be called dollar.
Now, if labor were very abundant
and the demand for it very light.
a gold miuer might be hired for @.
dollar Il day; but if the circum-
stances were cice cerSa, the value,
or purchasing capacity of the coin
would be very much less. So in
the purchase of wheat, corn, cattle,
or anything else. If l am correct.
then, the value of gold is Just as
dnctuating as that of anything else.
and is like that of all other articles
Of commerce, determined and vari-
ed by the irresistible force of sup
ply and demand, which sweeps
along, like the currant of mighty
river whose course towards the
ocean may be, by the agency of man
or otherwise, slightly diverted from
its natural course, but it will flow
true, TO its confluence, as
the ''needle to the line" If these
hasty and undigestic ideas seem
to you worth their room in your in
teresting paper, may, at some fu-
tnre time, venture something furth.
err on the subject. FARMER.
Allen Greek, Jan. 10Th.
Andrew johnson has fully proved
the doctrine of the resurrection of
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