The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1879-10-17

ne papers last week, as IL eho""'
cen. whereupon, few remarks APP
cared in this paper. This cxci'eo 'ne
wrath of the reporter in question: anu
70 refused to furnish us even WIN
omcthing patched up" We 90 no'
o,e about a report furnished two weeks
ate our reason for giving these facts
,e;ng TO call the attention OF the Uoou
remplars, whose noble work we are III
terested in, and whose doings we are
always glad to chronicle, to the aoVisa-
bility of selecting disiuterested re-
,orter in future. We know that no I'M
toward the Register prompt
ed the last appointment.
r1- The st. Adams Messenger has
become SO terribly mixed up in It's III
telcctual region in consequence OF It's
former dalliance with grecnbackism
that il claims that all money is fiat
money, being "made such by the fiat
of some government" A little COM
mon sense ought to be remedy Tor
such mental condition, but common
sense seems to be beyond the reach OF
the victim of the Grcenback delusion.
The Messenger says; "Webster defines.
money as coin Cor its equivalent, as
bank notes and the like) stamped by
public authority, and used as the medi'
nm of commerce. This public author
ify is a sfiat.'" The Free Press correct
lv cbaracterizes this as quibbling. 1t is
quite on a par with the brilliant discov'
cry of the Vermont National that the
value of gold dollar resides in the in
scription OH the coin. The fact is, al
everyone but the grcenback lunaii'
knows, that this stamping by public au
tbority is IN 10 sense q "fiat," but il
simply certificate by the public au
thority that the coin contains the amour
in value of precious metal which Il
stamped upon its lace. No "fat' give
il its value, OF forces 1t into circulation
nor is any needed. Bank notes an'
other forms of paper currency are not II
proper sense money, the term being
applied to them only as all equivalent Il
and convertible into coin. No mat
on earth can give value to worthleS
material. Arbitrary power may force
man to take a worthless piece of papc
in return for his services or goods, ant
it may also equally rob him outrigh
without going through any such form
but the most despotic power cannot 10
all that confer any value whatever upo
the worthless material, so that tea
serve as money. Only the preciou
metals, or accepted promises to pa
precious metals are properly money
and they are money besause they hav
all intrinsic value in themselves, ire
spcctive of any stamp of authority. ILL
government of the United States Ia
under the constitution the power
make United States notes illegal tendt
for debts, and if its notes are not wort
their face in money, it enables debtor
TO rob creditors of the difference in va
ne between the notes and the mediul
in which the debt was contracted. III
, its fiat power extends no further.
cannot force a man who sells his labt
or goods to accept its notes for mol
O than their real vnlne, 10 matter no
@ much less than their face this may b
q Only when lie happens to be III the p
sition of creditor can he be robbie
without his own consent.
s A purely3 fiat money-one without
n basis of actual value can no more
, exchanged and be received by gener
= con sent as payment for valuable thin
than stone can be eaten and digest'
n for bread. A dollar is a certain weig
of gold or silver, or an acceptab
: equivalent therefor. A government fl
: can make a piece of worthless paper
dollar, when the same fiat can NAL
I another piece ofpapcr bushel ofwhe
n or a pair of boots. A fiat dollar W
o obtain currency when men will eat
+ piece of fiat paper for dinner, or we
y it for coat.
1t is fortunate that with the resum
ton of specie payments and the adve
f of better times, the interest in Il
q brain-addling delusion of fiat money
A passing away. Here and there an org
8 like the Vermont National may contin'
to demonstrate that there is plenty
harmless idiocy in the world, but q
: irredecmable greenback has passed o
t of politics, and will be interesting
e the future only to students ofthe histo
t of great popular dclusions. We ba
C really so much respect for the ability
s the st. Adams Messenger, that we G.
f hardly believe it to have been since
9 in its Greenbackism last fall, or in {
< nonsense OH the same subject which
o still continues occasionally TO ute
o Indeed its columns have furnished al
Is pie evidence of the possession ofsensit
e and correct views on the currency OUT
&c ton, and it is remarkable that it shou
+ so often lapse into nonsense on the su
e ject worthy only Of the brilliant Bl
'e lington demonstration of the wortble
t. ness of gold coin without the Cover
N "faV on its face.
- BOLD ROBBERY About month a
b DR.. Norman q. MacLean, Lond
nc physician, and his wife, landed in M
Dr. York city and took rooms in house
~ East Twentieth street. On frid
~ evening they left their apartments fol
III short time, and on their return fou
er that $l8, 900 worth of jewelry and ba
~ notes had been stolen from one of tn,
#. trunks in their absence. Strange