Weekly Chillicothe crisis. (Chillicothe, Livingston Co., Mo.) 1878-19??, 1878-10-31

W lltLN l'Nll Nliln lilA al
Money is Of use simply AZ means to
make exchanges Of labor and commodities
easier than by barter. It might be called
wealth in that sense brt in no other
What gives value to money?
Its necessity and convenience in rx-
changing labor and commodities.
How does legal tcnderqualities increase
the value Ola medium of cxchlngcH
1t insures the consent Of every person
governed by the legal tender Ilw to r..
cciyG it in payment Of debts
Does the legal tender quality Of money
produce any other effect;
None whatcYcr
l. it necessary TO MAKE money out OF
gold or silver or othcrcXpcnsivc material
No. The value of money does not de.
pend upon iir materials from which It j.
made.
Why then cannot Il government stamp
IN indefinite amount Oi paper ~ othci
cheap material asa legal tender and
thus create an indefinite amount Of mon
cy?
Because there is no Use for il except tc
Il limited extent. It. value depends upon
It's nccesSity--its necessity !, limited tc
the wants Of trade, and the amount Of
money must also be limited. Therefore
the value Of money of all kinds depend,
upon its limitation in amount. II it wa,
issued in rnlimtcd amounts II would he
worthless.
Would gold coin lie worthless If issued
in unlimited amounts;
Certainly. An unlimited i,su" Of gold
coin would produce the same effect NS il
the money was made Of paper. The dis.
coycry Of 4 mountain Of purr gold would
not enrich the human race.
What prevents a tao great initiation
of The currency?
Public sentiment. The people have
been educated to know that such course
would change the obligation Of contract,
and would therefore be wrong,
Initiation to-day Is not prevented by
law. nor by the use Of metallic currency,
but by the people having been educated
10 abhor Il change in tine currency which
robs onc class for the benefit of another.
Has congr25, chGHged the standard ol
value?
Yes. Congress dcmonctiscd silver and
passed an act for iorcihle resumption III
gold. This changed the meaning of thC
word "dollW.' II enhanced the value o
gold and changed contracts to lhc dctri'
ment of debtors and in favor OF creditors
Why have not the pcopic prcyrntco
this?
Because they were deceived by cunning
misrepresentation. \, soon a. they
understand they will vote srcn proceed
ings down as HsCalities.
What effect have these changes in the
standard oI value had:
They have reduced the wages of labo,
crs and put down the price Of all kmd'
of property except bonds, mortgages anC
other evidences OF debt. This has cnOr
mously increased the burden Of debtors
and IN greater or less degree has coniis
Gated their property, They have throw
men out OF employment, and produced ,
great amount of misery.
Under what preteXt ha- this beer
done?
Under prctensc Of Strengthening til,
public credit, and in the name Of "hon
csty.' Most of the papers were cithe
directly or indirectly hired to deceive the
people by the false statement that the op
,ponents Of this policy were dlShoneS
men who we're unwilling to pay thcl
public or private debts. When the II
| sumption act passed the people were tOlt
that speedy prosperity would result iron
it, and the great majority swallowed tha
lalschood, Three years ago men like Pro
ieSsor Sumner told us prosperity wOul,
come as soon rs we adopted Il gold stan
dard' and many were "rcelV'd ny SNcl
8t2temehlS' , H.. .,,. ,
~ N.Y. ~, 'S ,Ij LiG iIo J"h4 LII J VI iIS lI9'' WI"
"IIil ~ tlic Pu"lG wv IpLt pILtu III 'oi" a,.;
IL CoihpGi P'iTa'o NV, ucp'TiS w pa! tmc
ucpV? III S9lu' my io."i c ".no.'it VI tiil ti
o",o ,,teP'tl''SS 81 o mnh ,' p,,ot .m '
hn ,oII,o IiiaI 10 T'' Std,ay Jobt i; noi3 % oio; II
paymcnt m of state county and city debt
In cold The contract of debit has hpc,
changed by legislation.
Do all the money-lcndcrS willfully dc
sire to cheat their debtors by this iegis
| lation?
No; only the leaders. Tho rcmaindc
are ignorant.
/ What are prices?
Prices are the estimate of mankin,
of the relative value of one thing to an
other.
Do we measure values with money?
No. We use money as common mean