Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1878-05-14
IRON the Portland Transcript.
Absolute MOneu.

What Is this new kind Of money about
which men are talking 50 glibly2 "Sir, -
said one Of its advocates, in our hearing,
1--WE are going to have the best currency
the world ever saw. You say We are Wis
ionAry. 80 they said Newton was vision
Ary, and Fulton was visionary. Are
there not to be improvements in money
Is in anything else ~ But" said his
interlOcutOr, "there Is no comparison be-
tween the discoveries Of physical science
and the laws Of political economy. The
one is open to mans investigation the
other Is based on fixed principles. You
might as well talk Of improving the null
tiplcation table, and say that hereafter
two times three shall be seven. That Is
the kind Of improvement you are attempt
ing.
But still the eager advocate OF "abso-
lutte money" could not see that the term
is but another name for absolute folly.
What is it to be absolute? 1t Is to be
complete in itself, TO exist independent OF
Any cause. God Is absolute, but few
things on earth can be said to be 50. In
human affairs there Is q system Of inter
dependence and mutual relationship
Nothing stands by itself-least ofall does
money. Its value must depend on some
thing else than the stamps 1t bears. Gold
and silver have i use IN the arts, giving
them a comparatively fixed value. Alb
solute money, five understand It, Is that
which has DO value in itself and Is not
convertible into anything else which has
value
How then can II be a standard ofvalue ?
But some say it Is to be based on the fee
simple Of all the property, public and Prl-
vSte, held in the country. But how can
il be so based. II il is not convertible into
any Of this property? Can a man who
holds handful of this absolute money
get it redeemed by taking possession OF
his neighbor's house and lands ? And II
not, where Is It's base Has not the bottom
dropped out Of 1t, and viii It not tall 70
the ground Gen Buffers money which
Is Of this absolute sort, Is to be not even
= promise to pay but promise not to pay.
How much Is such promise worth. and
wherein does it represent value? II
man sells his farm be wants to see the
value of it in his hand. If he gets gold
or silver or paper convertible into either,
he can carry the value Of his farm with
him wherever he goes, and convert 1t at
pleasure into any property he pleaseS.
Can he DO that with q piece Of paper
which Is not convertible into anything, and
promises to pay nothing Can the stamp
Of any government IN the world give val
ue to such piece Of PaPer2 Never
Congressman Wright Of Penn. Is white
headed old gentleman and Is said 10 be a
millionaire He says he is not afraid 20
be called demagogue, and 1t Is well he
isn't. He wants government TO issue
s40O, 100000 Of paper money, which
shall be legal tender lie proposes this
measure in behalf Of the laboring mentor
whom he has great regard, but be fails to
provide way for them to get possession
~ --A@ f~F~@ AA~AN N'------- $3.50
easily manufacture II. but 1t has no pur-
pose 10 which TO devote it. 1t cannot pay
il out for nothing. How then are the
working men to get hold Of it ? Shall the
government give it to them outright
What pretty scramble there would be
to yet share Of il But what good
would it do them alter they had got 1t ?
AS il would increase the volume Of paper
money One-third, there would be CORE
spending decrease in its yalue,an as even
the four hundred millions would fail TO
supply the demand there would have to
be repeated issues, until Its value would
sink to nothing Then it would be dis
covered that government can no more give
what 1t does not possess than Satan could
bestow upon the Savior all the kingdoms
Of the earth Still Mr.. Wright Is not
afraid to be called demagogue, and men