The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1879-03-27
WALL PAPER.
We have just received large
stock. Calland Sc lect your paper
before the best st yles are all sold,
at Do bner e O'Hara's.

UClOIC ulC UCSV 81
at Do
Mrs. Brodlsead Is visiting her old home
at Lake City.
Mr.. Marshall Gates, of Owatonna
spent several days in Town. prospecting.
The weather has cleared off finely and
farmers in this vicinity are all busy seed
ing.
Mrs. Judge Baldwin is spending some
time in St. Paul with her daughter Mrs.
Ward
| Editor Redwood Gazette,
March oath 1870.
Money-lts Nature Function, and Basis.
The actual and fancy uses for gold,
aside from its use as money, are not
so great in proportion to its supply,
as those Of iron; therefore, strip it Of
its idolitrous bloodstained habilia-
ments as money, and it would be
comparatively worthless. money is
a creation of law, a legal document;
its law created function, is a debt
paying one, and none other. The
law declaring it a legal tender for
all debts, from one citizen to another
when he wishes to be relieved from
debt.
The Green Back Dollar, virtually
says when on its mission of mercy,
/ am the full legal tender creation of
the supreme law making power Of
these United States, my mission is
to settle all debts, accounts. and bal
ances, between A. and Il. and G. and
d. and &C. of every name and kind;
Sir. l am money and it behoves you
to honor me with all that respect,
and consideration characteristic of a
true Patriot, who loves the Republic
of his Native Land. The unit of
value is an establishment of National
authority, respectively throughout
the world; whether that unite be a
dollar, pound, marke, or a rupe.
1t is the ideal money of the accounts
of a state, expressed on any material
whatever, that is agreed upon by the
sovereign powers, and that its ex-
ehangable value as money, is not
dependent in the least on any COM
modify value, the material receiving
such money stamp, may be supposed
to possess, real, immaginary or other
wise. Melt a gold or silver dollar,
and it looses nothing by weight, or
fneness, and it has ceased to be
money legal tender. A fac smile,
of a gold or silver dollar in design,
weight, and fineness, coined by an
individual, would be counterfeit,
just as much as though it was made
of more useful, or basis mettle, for
the obvious reason that it has not
the sanction of law. money being a
creation of law, it follows logically,
that its baser cannot be material, for
human laws cannot create matter.
What is its basis then; 1t is like a
statute a decree of court, making
no diffe. ence whatever, on what ma
terial the function of; it's money
characteristic is stamped. There is
no more necessity of stamping the le-
gal function of dollar on 4l24
grains of silver than there would be
to make record of a Judgment of a
court, of one hundred dollars OH
gold and silver tissued paper, costing
one hundred dollars, in order to
make said Judgment good against
the debtor for that amount. Money
in all its varied history, in all ages
Of the world, necessarily has been,
ard is, and always will be, an index
of credit. l repeat, it absolutely
makes no difference whatever, on
what material the money stamp is
placed, by the sovereign power of a
state, its currency however, depends
on its basis, which basis resides in
the wisdom, integrity, and immobili-
ty of the nation, thus ordaining 1t. /
am happy, to be able to adduce in
evidence, Of the above proposition,
some very interesting facts, occurring
recently in Europe, and in our own
country. In 1867 Germany and
Austria notably, with other powers,
Demonetized gold, it remaining thus
until 1865 and 6, and then these
powers remonetized it, and then de-
monetized silver, and in 1875 our
own country, at the bchest of the
gold oligarchs of Europe followed
suit. The gold and silver money of
both Hemispheres, fell below their
respective values, in that transaction
and continues thus under the ban
irrevocably to the present day.
Celebrated writer's on finance tell us
that money is necessarily an index
of credit, and that this credit system
has no regard whatever for the ma
terial on which the money stamp is
placed. Therefore the money basis,
is not in paper, nickle, silver, or gold.
What then is the money basis; 1t
is the ability born Of an enlightened
christian civilization under Repub-
lican form of government, it's integ-
rity its wisdom manifested in the
supreme lawmaking power, of an in
teligent sovereign people unalterably,
as the laws Of the mead and Persian,
which change not.
We take greenback note because
we have faith that the government
can, and will, maintain and enforce
its legal tender function as money,
and that by common consent the
people will receive it at its face
stamped value for anything they
may have to sell. We take gold
or silver dollar, not that they possess
anything like the value stamped ON
their face, bat that we have faith I'M
the civilized world that they will
maintain their fixed monetary values