New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-09-09

great aborsaving instrument but brought II were
the ends Of the world to.1ether. We have. through
the medium OF exchP .nges and society, opened
the way TO huma' sity to an indefinite pro
erosion toward the, "truc, beautiful and good"
But does money perform no other Office IN our
exchanges thant lat great instrument In
procuring the countless and useful commodities that
make up the daily production and consumption OF the
peOplef IIis this simple and obvious use OF money IA
power exchange" that strikes the superficial "a the
only u q that money performs. 1.-THE intrinsic costihess
Of CON-" says Cumberland" not condition to TINS
useof it, This true for at the time in the history ofour
"egatender currency" when they were worth only "a
cents the dollar. greenbacks facilitated exchanges
"mighy much faster than real money would nave
done But this deprecated currency taught the nation
Unprecedented extravaganza and usered IN the era o
wild speculation and gambling: with its attendant oe-
morazaton, which have lately eliminated In those
gigantic frauds in and of Legislatures, and when
have stencil and disgrace to all honest dod-
fearing people 1t this cheap currency this easy
way get ric this Sinking honest labor that Drought
into dsrepute dear money the only TRUSTWORTHY sure
and undertaking standard of value the world over
The cost of machine says the writer OF iesef b
work for which it intended. The same mhchinr,
Te s @Sp% so or DEAFNESS Of machine
not affect its efficiency . Now money Is an
e niece dc Of psper contains So and Imports
tat the holder has parted with that amount of property
paper given will give for it the equivalent OF the prop
erty parted with, il is money TO all nteEts."
Now il tn me that II would save much rrceVaut
talk and scIibbling about money II we would only
define our terms. What is money, and Wnat arc ts
functions In the language of Prof VIM. Hoisington
Of Wisconsin, Money is species 0f wealth. ny wh,en
exchanges are made and value measured 1herc IL Tue
philosophy OF money in nutshell. IL performs Two
functions-no more, less and that man, or nouy Oh
men, by law or without law that attempts 10 talPer
with this dear money by mixing more ana more ailoy
with the precious stuff that much labor To produce
will have tner reward. BY OF the labor ana the
cost OF producing gold and silver, as coIninody oi
Worldwide desIablcness, they become usefu az money
For value II Ouy relation OF two equal services EA
changed. without exchange, the very hea Oh Ntuue
would have been developed IN pupnc ecohon2.
If they cost no labor, and were not com
mercai commodity, Of worldwide desirabieness,
nor OF universal utility, as great laDor-sa' ny
machine in exchange well as OF ornament 'nc
precious metals would not be used az an INSTRUMENT o
Exchange and measure value of all other cOllnotes'
Something would have TO be substituted ID the place.
that cost labor in order to compare service WIN SCI
vice" before an equitable exchange could possibly NC
effected. cheap "papcr money, as Is cdeo'; uoos
not possess this intrinsic or commercial VALUE Paper
pronises 10 pay money not commodities ike wheat
cotton pork gold and sver consequently thcy ntNc
modities This cheap currency has not cost much laDor
and is not in demand in all the markets OF the world Ike
go,d and silver cotton, beef ana pork anu tou
sand and one articles having Worldwide market Nauc
Sixty millions dollars more Of this cheap stun can
he esued daily at WASHINGTON, d. C., where even egSla
tive services have alas! OF iatc years become aS9
cbeau and worthless the industrial ana economical
Interests of the nation. From this cause paper money
never can perform the most important function OF real
moYcy as measure Of the value Of all marketaDie com
mOdities. ~
Dcnrer, COL, Aug. 90, 1873.