The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1876-08-11
FINANCIAL.
Resumption 8Eenra From


Some writer has said that money
is the cart by means of which we
make our exchanges. Another says
''to get over the difficulty, that sell
Ter of goods might not want the
other goods offered by buyer, was
alone the true origin of money"
One of the ways we distinguish
ourselves from the barbarians, is by
using money instead of barter.
Money is the medium of exchange
tho measure of value. We send
out our corn and cattle on the cart
money, and bring in our sugar, tea,
coffee and clothing. When we have
a COW to sell, and a coat TO buy, in
stead of looking around until we
find a tailor who wants a COW, we
exchange the COW for money and
the money for coat; by having
this common medium of exchange,
we save a vast amount of time.
Money is a tool, which every one
uses; as such il is valuable. No
sane man values money for its own
sake, but for what it will bring. No
one gets money 10 keep, but to part
with, for something else. Currency
is from euro, run the mission OF
be made to run the more useful il
is. Money is not wealth, in the true
sense of the term. Because we can
exchange it tor anything we desire,
we have come to regard it as wealth
Why do men take money for any
thing they possess J.? Simply because,
as Aristotle said, many centuries
ago, they "agreed" 10. No law, so
far as l am aware, makes man part
with what he has for money. AS a
matter of convenience and a saving
of time and trouble, all men have
agreed TO it. True wealth is in the
corn and wheat, in the cattle and
wool, in the iron and lead, in the
gold and silver. "The ultimate reg,
ulator of value" if left to natural
laws, sis cost of production"
Money is a measure of value. Ii
is very necessary TO have some
common standard to which we can
bring everything of value and
measure it. IL would not do to
say that two cows are worth a horse
and five and a half sheep worth a
COW and so on for everything we
buy and sell if we did, we should
need to live to the age of the patri-
archs, or each have a mathematical
prodigy with him TO work out the
complex problems which would
constantly arise. In money we
have this common measure, 10
which we bring all things ana hav-
ing measured them by this financial
yard stick, we are prepared to say
how much of any given commodity
we will take for what we have.
One of the first requisites Of
money is steadiness of value. Com.
mercial transactions extend over
great lengths OF time ana all coun,
tries. Nothing acts so disastrously
as fluctuating values. 1 saw state.
ment not long since, in little
sheet, of the case of man who Dor.
rowed one thousand dollars in cur.
rency which was at the time of Dor.
rowing worth only four Numbered
dollars in gold. The borrower was
dilating on the injustice of hayips
to pay 81 600 in gold now which i
no doubt is; but it proves as well al
one transaction can the folly an(
injustice of an inflated and ire
deemable currency. II there ha,
been no imitation and cOnscquea
depreciation he would have receiv
ed the worth of his thousand dol
lars when he borrowed it, instead
of twO-f ifths its value, and Their
would be no injustice now, of pay
ing $1,000. l cannot expand thi
idea, hut it will readily be seen tia
the uncertainty of the value of on
money enters into all our transaC
. tons, enhancing prices of goods a
the final expense of the consumer
or lowering them at the cost an,
disaster of tie manufacturer.
Elasticity is an important elemeu
, of currency. No man and no set O
r men are wise enough to determin
= how much money is needed to carr
on the business of country; a fix
ed limit by law shuts off the idea c
elasticity; the boundary is sure t
be reached some time and the bal
rier which was of no use before W
reached it, is swept away; whe
business becomes dull we have to
much currency, and money liz
idle ; we have no means of contrac
,, ing it's volume except at the e1
= pense of every business interest. .
q recent New York paper reports
: millions as now lying idle in Ne
r York City banks alone. The pls
of the Bank of England is bett'
than ours; for after reaching a ce
tain limit for all new issues the gol
: must be depo sited pound for pound
n the German plan of taxing all i
: sues over a certain amount, 5 pt
# cent. is perhaps, still better.
t 1t is no argument to say tn
= money is scarce here. 1t will q
y ways be scarce until we produ
something to bring it here. II
Il man who has corn or cattle or wo
n to sell has no difficulty in gettir
d money for them and never W
N have, if trade is allowed to folio
n natural laws. am in favor
i gold as a legal tender because it h
l. all the desirable qualities 1 ha,
d mentioned, and many more. Unle
= there should be a discovery of son
i great amounts of it, of which the
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