The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1880-11-26


logic that expose the error. 1t seems
to be sort of mental alteration. as
difficult of treatment as lunacy.
The facts concerning the coming of !
money are simple and easily under
stood.
The metals out of which coins are
made have commercial value, and !
can be and are. exchanged for other
valuable commodities without or be-
fore being coined Coming metals |
does not change their value. The diff
ference between a coin and a piece of |
raw metal of the same size is the coin
contains a certificate Of its value or
weight, while the piece does not, and
it's weight or value can only be ascer-
tanned by weighing. But it is easily
seen that if the piece is OF the same
weight as the coin. it must be of the !
same value. In use the inconvenience
would discount its value slightly, as
each time it would be exchanged for
something else it will be necessary to
take time to weigh it, so that both buy
er and seller could be satisfied Of its
value. When we see a silver coin
called a dollar, we know it contains
412H grains of silver, nine-tenths fine.
There is no value in the name Dollar. |
The value is in the silver IF We were
to call the Eagle Dollar and the Dollar
Eagle, the value of neither would be
changed. No one would sell as much
wheat for 1928 grains Of silver if it |
aoere called an Eagle as they would |
for 245 grains Of gold if that were
called a Dollar. The value of the
name and of the words on the coin |
is its convenience III use. II the same
name and words were printed or
stamped on piece of paper or leather
| it could not change the value of the |
paper or leather. If it is worth moth |
ing before being stamped, it could be |
worth no more after.
| A bushel Of wheat costs labor and !
the use of land aud tools to produc it. |
When the farmer exchanges his bushel |
of wheat for a gold or silver dollar, he |
gets in exchange for ii that which has |
cost labor and the use Of tools to pro. |
duce: that which has value of it's
own, the same as wheat, for the uses
to which 1t is adopted. If a farmer
takes dollar bill in exchange for his |
bushel Of wheat, it is because there is |
a promise on the bill to pay dollar in |
coin, with the certainty that the prom |
Use will be fulfilled whenever the coin |
be demanded. These are simple facts
easily comprehended by the masses, |
and accord with their common sense. |
And these facts are the basis of our |
monetary system. And not alone Of |
ours; they are the basis of the mon
etary systems Of all the civilized ma
lions Of the world In the very nature
of things there can be no other. Any
other system is as impossible as it is
to have sunlight without the sun. Mr..
Cooper's mind is in the same condition
as that of the man who insisted that
the moon Was of far greater value to
us than the sun. He said the sun only
shined in the daytime when we always
have plenty of light, while the moon
shone at night when there was no
light
Mi. Cooper's idea Of good govern
ment' is a government that will stamp
q worthless piece Of paper or leather
one dollar, ten dollars. hundred dol
lars, thousand dollars, ten thousand
dollars, and by force of law compel
you to accept it for the bushel of wheat,
the yard of cloth, the fat sheep or hog,
the suit of clothes, the horse and wag-
on, the house and the farm. His idea
Of injecting a value into these worth.
less pieces Of leather and paper is to
enact a general law that certain per
cent. of interest shall be paid by the
borrower of the worthless stuff.
Another method of giving it value is
to enact law making ii a universal
legal tender in the United States. That
is, if you Lave sold a horse for one
hundred dollars to be paid in six
months, when the debt is due the pur-
chaser can pay you in a piece of leather
stamped 500. To justify this legal
robbery, Mr. Cooper says III effect that
you are entitled to rob your creditor in
the same way This is Mr.. Cooper's
idea of good government Before
man can get his financial views into
such state oflunacy as that presented
I by Mr.. Cooper, he must ignore all the
facts, all the common sense of a sound
monetary system. Then his mind is
fitted to adopt the destructive theory
that value can be created by human
statute.
| There is nothing new in the theories
presented by Mr.. Cooper. Every age
and every land has furnished its share
Of financial lunatics. If it were posi-
Bile these destructive theories would be
adopted to any extent, the ruin wrought
by Mr.. Cooper would a million times
exceed the good he has done.
~..0..-
OUR WASHINGTON LETT ER.
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