The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-09-05

the price Of gold would be raised beyond
measure and we should see produced in Eu-
rope a result lamentable enough.-Lem Fan
chett.
1fthere is one measure better calculated than
another to produce that state of things where
the rich are daily getting richer and the poor
daily getting poorer 1t Is a metallic currency
w. h. Harrison, Inaugural address, State Pa.
pers. 2, 10, 4.
1t is too clear to be reasonably disputed that
Congress, under its Constitutional powers to
lay taxes, to regulate commerce and to rpgu-
late the value OF coin, possesses amp'e author
ity 70 control the credit circulation. --Salmon
P. Chase, Report, Dec. 1861.
The money question is not SO much of a
gram racker as is by many supposed, but it is
rather simple when Investigated in the right
manner. Money is simplya measure of values
and as the nation contracts its circulation, it
contracts the value of all property in like pro-
portion. A. H.. CASTOR.
Thomas jefferson in his letters to Mr.. Epps,
volume 6 of his works, says: Treasury bills,
bOttomed on taxes, bearing or not bearing in
@terest, as may be found necessary, thrown into
circulation, will take the place of so much
gold and silver. Bank paper must be suppress
ed, and the circulation estored to the nation,
to whom it belongs"
AAOAACJ : 40 OSCN IL 1OAO1 Il is a
useful instrument that facilitates the exchange
OF commodities and services.
The intrinsic value idea of money was the
idea in the crude day of Observation-Disclosures
Encyclopedia.
Congress shall have the power to coin money,
to regulate the value thereof and offoreign coin.
emit bills of credit, or make anything besides
gold and silver a legal tender in payment of
debts. The Observation-Disclosures Webster.
Money should be a thing of, or belonging to,
a country, not Of or belonging to the world.
An exportable commodity is not fitted to be
money, and nothing could be more monstrous
than Englard's principle-followed by the
United States up to the Warbler legislation
forcing her people to be buyers of gold and
making their possession of gold--One of the
scarcest articles in the world--the condition of
Their being able to furnish themselves with
food and clothing. Isaac Buchanan
X 4 4 But when it was once clearly I'M
derstood that gold and silver are not wealth.
but merely representatives of wealth; when
men began to see that wealth itself solely con-
sists or the valne which skill and labor can add
to the raw material, and that the money is of no
possible use to a nation except to measure and
circulate its riches; all the Old notions of the
supreme importance OF the precious metals at
once fell to the ground. English History of
Commerce. Buckle.
Benjamin Franklin, in volume 4, page So, of
his works, says: "Goid and silver are not in
trinsically Of equal value with iron. Their
value rests chiefly on the estimation they hap
pen TO be in among the generality of nations.
Any other we~li-founded credit is as much an
equivalent as gold and silver. PAPER money,
well founded, has great advantages over gold
and silver; being light and convenient tor hand
ling large sums; and not likely to have its VOL
nme reduced by demands for ex portation. On
the whole no method has hitherto been formed
to establish a medium of trade equal in all its
advantages, to bills of credit made a general
legal tender"
When the laborer has received his wages in
money he has not received an equivalent for his
services, but only something which will enable
him to get what he requires. The money there
fore is not the equivalent, but the evidence
that he has parted with commodities or services
and has not received an equivalent.
Gold and silver coin must be redeemed by
commodities and services on demand, or they
can no more perform the function of money
than can irredeemable paper money.
The simplest aud most perfect form of cur
rency is that which represents transferable
debts--paper money with no intrinsic value.
Coin so long as it circulates for the purpose of
buying and selling for the lime, loses its in
trinslc value.
As commodities gold and silver are capital,
but as mere money they are mere representa-
tives of value.
All the confusion on the subject and which
has mystitied the works on economy arises
out Of the fact of not distinguishing between
gold as merchandise and gold as stamped mon
ey.-Chas. Moran. France.
Reader can you define the sentence "main-
tanning the credit of the n~ation?" 1t is simply
paying the bondholder gold while the indus
trial classes starve journal, Port Huron.
Michigan.
Fellow citizens, | believe in the greenback. |
believe it is Il constitutional currency in time
of peace as we'll as in time of war. believe
1t ought to be perpetuated as a fundamental
basis and an element of our whole paper circu-
IA ION. | have no doubt that it is as far as it
goes, the very best currency that ever was in