Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1876-10-17
Specie.

Specie.
The use OF coin as circulating me-
dun for exchange, dat from The
earliest history. ], was lirSi used in bars
and wedges. or in tiae PARTICLES, as gold
dust. This method OF trade WAS very
unsatisfactory and costly. because The
fueuess Of the metal must be ascertsined
ST every transaction, and us weight aG
justed. Hence governments soon took
the matter 10 haDd-tOT they are always
the largest dealers in money, snd hence
were the mos: interested parties. By
edic:s they established the quality OF
metal 10 be used, and by stamps Indicated
its weight,
All metals have been used IS money
but the baser have been discarded on
sccoun, OF the weight and bulk required
10 represent = given value Gold aud
silver are the most valuable mediums of
exchange, because they represent so
much value in 50 conpsc; toxin. They
never have been and never viii be pro-
duced in quantities sufficient TO meet the
demands made for them iron all parts oil
the world. Hence they must always
maintain 3 comparatively Interchangeable
value. There is another characteristic
which tends 10 keep their value uniform.
They are very beautiful TO look upon,
snd being easily worked are readily con-
ver,ed into any desired form. II one
locality Gnts itself in possession OF AZ
oyerpius Vi precious metals il can readily
be converted into vessels fer use or into
ornaments. When The surplus has been
transmitted TO other sections. these yes
seis may be as readily converted into
coin.
Money cannot be made BY simple ed.ct
OF ruler or enactment OF legislative body.
Such law may cause vaiueless materials
10 circulate for = byiei period OF in lion.
tied territory (4s did The Moods money"
OF 1928, which was coined thirteen shi.-
hngs to pound Of BRASS on, having no
value 10 themselves, they are soon le-
jected By the people, and with The en-
actment still 10 force, TAI into dlsuse.
Money mus, have al intrinsic, as well SIS
relative value. People will not exchange
wheat Tor a slip 0! paper o: for protested
note. For good note they may ex-
clsnge their goods. s.. Tor a national
bill, circulated in $ given territory you
may purchase mos; articles Of mercaau-
disc. But 10 learn how worthless bank
note IS, one has only to present one to
foreigner 81 bis own home.
That money, in this century, should be
81 international commodity, is as evident
IS the fact that We Iced il amoug our
selves. Gold and silver are accepted
every where, and from this fact we may
see how valuable they are as money
They are the only metals combining
worth with convenience &nd durability
which are produced in quantities sutfi-
cientto meet the demands oil trade. Hence
they have been universally adopted as
the basis of currency.
Oar foreiatherS. with their accustomed
prescienee adopted these metals for use
IN the little nation formed under their
supervision. They proposed to make
this country refuge FOR he distressed oil
al nations; and al asylum Tor the poor
and bankrupt; where the oppressed
might be relieved from their burdens,
and the paper recover his manhood by
honest toll. WIKI these humauiisri. Z
principles ia view, they sought h cS,st-
lish such laws and customs IS wou q
place u ia close coaUect.On with a.. iul-
eign nations. The hrs; and most ueees-
sary step 20 be taken was 10 establish
currency which might be converted into
foreign money, or given ia exchange for
the foreigner iitie purse. Tae standard
Ofpations-go!d and SilveI--wes adopted !;
and By these, with banks and individual
nO;eS, the business OF this great county
was conducted Tor many years.
10 an evil hour, however, when The
necessities of q terrible conflict called f,r
means, our government TAO in deb. L.
did not hire large sums OF money from
single individuals. bat issued ao.es lor
small sums. promising 10 redee u them
Eat some future time not then mentioned
The people took these notes, and they