The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1876-03-02

the matter. 1t has now got beyond the
arena of newspaperdom, and has taken
such shape that it must be met.
----~ss->------
The Science of Money.
1t had generally been supposed that
the researches Of statesmen and the
writings of philosophers, throughout the
centuries that have passed since money
was invented, had been sufficient to
bring the subject OF Money into the
sscircle Of the sciences" But the none
tary commissions that have, of recent
years 80 agitated this country and
Europe, have led men to think that per-
haps we have been laboring under de-
lusions, and that there is really no such
thing as the Science of Money.
The science OF any thing is nothing
more than the laws OF that thing reduced
TO order, that is-systematized. And 1t
is no cause Of wonder, in view Of the
numerous and diverse theories which
have Of late been so earnestly promui-
gated and ardently advocated by learned
and distinguished men ON the subject ol
money, that thinking men should come
TO doubt the existence OF the science OF
money. The antagonism Of views and
the contrariety Of principles advanced
in relation to our own monetary system
by eminent men, and the tenaeity with
which these opposing and diversified
doctrines have been maiptained, botf
by writings and debate, have unsettled
the faith Of thoughtful and studious mel
in the doctrines of political economy
that had been received as constituting
the Science Of Money.
9 1t lis the natural movement OF the hu
man mind, when the foundations of iti
faith in anything, religious or political
are suddenly broken up, to lose faith III
everything; and to take refuge in siat'
ofuniversal doubt. Such seems to hay'
been the state of mind into which th'
leading men in our Congress have now
sallen, in regard to the Science of Money
This Is manifested by their very recen
action, of which we have been but jus
now .nror d cd. Tn advices from w Washing
ton touching this matter have been tele
graphically summarized in thes
wOHds:-
ssThe propos itien has been submitted to tn
Government, and also sent TO MIR. Cox. and b
him laid before I he Committee on Banking an,
Currency, OF which he is Chairman, that tn
Government ap ,tolnt Committee OF scientlil
experts to ascertain: First, whether scientist
themselves can agree as to whether there is o
is not ut present extant such q trathful sys
tematic, exact, and logical conception OF tn
facts, laws, and nature OF the subject OF money
or currency, as to constitute the science {
money; secondly, il they can so agree, and
there is such science now Known
then to agree upon and to make,
possible, q concise and lntelligibc re
Statement of tho same; and IL there IS not s,lc
q science known, Then to eV0lve discover,
create, If possible, such science, aud to stat
it in The most inteligibfe form upon whlcl
they can agree 1t is taken for granted tina
this, like any other subject or depart..souJ o
natural phenomena, is su uaccptiD1e OF being re
dnced to :: SCIENTIFIC -exactness and formula
whcfcin it shall be susceptible OF demon
etTation as to the relation OF its phenomena
that is, put IN such form as to present to Il
a body Of knowledge whose phenomena shal
be arfanged SO as to EXHIBIT the, reason 8
causes by which they are governed in. thei
lagItimae relation and ihteraiependence--
the time has come for such a science, and it
thought that it has"
We know that this proposition Is
novel one to come from legislativ
body; and we presume it will be th
subject OF ridicule among those VIII
imagine that, when they expire. all VIII
dom will die with them.
Butwe can not fraternize with such a
would make merry over this propositio
as proceeding from the American Coz
gress. We believe that from no othe
deliberative body could such a propos
tion more properly proceed. 1t look
beyond yagaries and theories 10 the fui
damental principles upon which this &c
-ence, II it be one, must rest. And tha
10 precisely what this corftry and til
world now need. Our rown monetary syi
tenn has.se long been the suffering patien
upon which charlatans, empirics, an
financial qutcks OF all degree, hav
been practising, that the1aws OF its col
.sstitution have become obscured, or col
founded with the foggy dieta Of yisienaa
dreamers, well-meaning but unwise.
is therefore ne derogation from eth
The dignity or the wisdom Of our Co
eress to search once more for the el
.snientary laws upon which the science
money must rest. 1t is by that know
edge alone that they can lay The ar
Joundation for the natioH's moneta
.systenl,--a matter Few, OF all otheI
ahe most important 10 thenstioIs pea
and prosperity.
u ...ast be remembered tha' no au@