New-York tribune., 1875-08-07
FINANCIAL DISCUSSION.
THE MEANING OF "a DOLLAR

THE MEANING OF ~ DOLlah.
ALL METALS AND EVEN ALKALINE EARTHs PRE-
FERRED TO PAPER AS CURRENCY.
70 fAe difor Of The Trtbune.
SIR: submit the following automatic an
swers TO Mr. Brinde's letter. He quotes from Frankns
ropv In the proposition of the British Board OF Trade
That every medium Of trade should have an intrinsic
value which paper money has not" FRANKLIN saii'
However fit particular thing may be for particular
purpose whenever that thing Is not to be had or not 10
be had in sufficient quantity, it becomes necessary to use
something else the ttost that can be got in lien OF IT,
agree with Franklin When you can't get the best thing
use tbe next best. But Franklin's language shows
clearly enough that Inc thought gold better than paper IL
II could be got He thought paper the next best thg 10
gold don't. II Is too bulky Iprefer platinum silver,
mercury in fact all tho metals, or even tho snD-hes
and the alkaline eartls. Whom sell barrel of Hour
don't want TO be Obliged to take 100 pounds of paper In
pay for IT,
Fr,nkn SAYS: Great part OF the shllings and six
pences now current by wearing become D. TO- 90 and
some of the sxponccs 80 per cent too light For
this difference between tho real and nominal value you
have not so much paper. you hayc nothing On yes
Won have Won have the knowledge that you get good
sixpenecs FROM the Government for them "lt is the
LEGAL tender with the knowledge that It easily be r.
passed for the same value that makes treepcnny worth
Of silver pass for sixpeDcc" differ from this 1t IL
that knowledge perhaps that induces man to take one
such sixpcncc ;bu suppose you were to oher TO pay
pences Weighing only threepence each, who would take
fnomi SUPPOSE British dealer should import thou
sand hounds worth Of SILK from France and should send
over In payment thOus md guinea pieces. but 10 worn
that they were worth only 800 Then Mr Brndic goes
on 20 say You say that 25i grains OF gold constitute
dollar, and that 1t only is constitute legal tohher
for debts over So Tie supreme Coat OF the United states
has decided that lcgaendcr Treasury notes are con'-
trtiona LEGAL tender for debts - Therefore yong
assertion Il clearly eTToneOus Tliat j. not Hute inc
int wlcrc d was not expressly stated that the payment
must he IN gold. payment ~ greenplrsS Is H,'iac
tiOn. Ey the Court was neither hluNiu nor Whhc,
enough to 90 to the Length of saying tha whore one had
expressly promised W pay in cold ie mght lay Sch-
ba Du that stupid and wicked ting IA JnFt Wha ne
ulali,1ists want lie Government 10 do. Again, We
dcfg ,ou show any iaM VI, created thrm a. e. gI.l-
rayalc In gold dollars Nor would il add to their 'aue
if they were so molr PAYABLE" ,. --on,. ,.osso,
Wien the laws generating" erctlcck: Werc passed,
tlrrc was -. there always has been since TIE rom
of Government, aid aways c.n BE- hui one KIND %
b. urol for certain prposcs and those were SILVER do
lars ana bank bis Now. did The Government. when i
wonhl give hhn hank bin The Legislature Is pre-
sulcd words IN their ordinary sen and WIN the
dolar il means what everybody means by tnat word
there being only one tnr IN r;isi. a'ehAtcpy Nv KY LEY
il would moi add to their value II they were 50 made pay
able, be anticipated lIiile lie sneak as II e ii,a-
trc affairs ~ Washington. have no DOUBT BIS stat
mont would 10 trpe or there i no reason Why an NINA
zionist would keen expressed promise any, better tah
he wants 10 keep an implied one.
conclusion quote the following: We arc n iavo,
OF payi'g all bonds made payable IL coin a'cnr s 10
the terms the bcnl. III" Five twenty bonds redeem
abe ana not yst changed t0 gold bonds. we ar. IN 'E0f
Of ordering IL fog payment in the ouyacni ol com, CON-
namely fu iccaltrndcr Treasury no.r' Ohs ne vast
nrau,ug OF small words. full legaitcrdr I.rasnff
note The bondhotl'ng moncy'd tyrani, win hr trnK
Inl OF bonds wcnds his Way 10 The tr' iSrj, eNpcunS
10 .et fn le.atCldr Treasury notes for bi bonds.
mi the pen Die are a. last drOsed. There has been an
other ,i,ar rsun" aud thDu n hc came with the cplc
afpu OF ert ing full note for each bond, M tn' ne
can only get oHcialf lesaender Treasury notc ior
IT, - |A'""'i'
Yec IorE, July 81, 1873.