The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1878-09-21
WHAT Is THE DIFFERENCE

There is being so much said
through the press and in social and
business circles, about "Grecnback
ers" and ''hard money men or "bond-
| holders" that we are led to enquire
into and notice some Of the differ
ences between the two classes ofmen
and we shall do so,not in learned fl
nancial or scientific phrases, but in
such language as all can readily un.
derstand.
The difference, then, cannot be in Z
greater money value of one kind Of
this money, than in the other, for all
are practically of the same value, and
therefore any given quantity of one
will purchase as much rs the same
quantity Of the other.
Nor is it because the value Of these
different kinds Of money is fixed by
different authority, for both are fixed
by Congress. BY the Constitution,
Congress is to coin money and fix the
value thereof Let us use the word
make, for coin, and then it will rca d
shall make money and fix the val
ue thereof Congress makes green
backs or authorizes them to be made,
so Congress makes or authorizes the
making of gold and silver coins.
Bat while this is 50, there is still q
higher law (ifallowed the expression
that affects, alike, both or all these
kinds of money of any given or equal
quantity, and that is the law of sup
ply and demand, for this law of trade
governs money OF all kinds, like 9th
or commodities Oh. things of barter or
exchange. When money is scarce
and not equal or adequate to the de
mands or wants of trade, then its val
ne, rs it were, or rather its purchas-
ing quality or power is increased just
in proportion to its scarcity; then
money is hard to get and will demand
and obtain high rates of interest;
then horses, and cattle, ald farm pro-
ducts, and labor shrink proportion
ately in value, and will yield the sell
Ter or laborer SO much less money
while on the other hand when the
amount of any Or Of all kinds of law
full money is equal or adequate to the
legitimate wants of trade and bust
ness, then money is brought to its
normal or fixed value and purchase
bic quality, then there is neither ru-
nous shrinkage nor unjust imitation
il property or labor, but all alike
will yield fair and living prices; then
will'capital and labor gracefully meet
and move on tremendously together;
then will happiness and general pros
perity again return to bless our land
and country. Hee, then, is the key
to and the "alpha and omega" of the
difference between these two classes
of people. We say two classes, for
50 it is. The hard money class en-
braces the bondholders and those who
think they have money enough, so s.
cured to them, that they are safe
from the ruinous effects of shrinkage
in Values; while the Grecnbackers, so
called, embrace that class who feel
that there is too little money in cir
culatioa to answer the wants of trade
and labor, and as consequence, they
have to bear the rulnous effects of
shrinkage in values, in property and
labor. The bondholder and hard
money man knows that the scarcity
of money will make his bonds and
money more valuable, while it de-
creases the value of property and la
Dor, and therefore the scarcer money
is the more property or labor it will
buy. His interest. therefore, lies in
the direction of making and keeping
money scarce.
The Greenbacker and laborer nm
derstands thi l., too. and hence his in
terest lies in the direction of having
the amount of money adequate to the
wants of trade and labor so that la
Dor and property may fair equally
with capital and money.
SO, then, it is not in the kind of
money, hut in the quantity of that
money that ties the great and radi-
cal difference between these two
classes of our people. But the unin-
itiated may ask, why then differ?
But the shrewd Shylock and bond
holder will not venture to ask this
question, for he would not care
whether our money was gold, silver
or rraa,, bo ol-c nrov;Io,1 +horo Io l,,+