Weekly graphic. [volume] (Kirksville, Adair Co., Missouri) 1880-1949, 1880-12-24
MONEY-GOLD AND SILVER.

The financial history Of the last 2
years has thrown great light on til
subject of money. 1t has expose
many fallacies, and ought to correc
many popular errors. We propose t
exhibit some of these mistaken notion
in the light Of history.
The first-that money is a creatur
of the government. This error lies a
the foundation of the whole fabric c
financial follies that have cursed thi
country as well as others. This gov
ernment as well as all others fount
money already in existence, facilitating
the exchanges of business. And from
the days of Abraham until the present
with rare exceptions, gold and silve
have served all civilized peoples a
money. This usage of all nation
prior to and Independent of Legislation
has so established these met ais to fiji
the functions OF money that change
OF usage by legislation imperils com
mercial interests at once. Our tath
ers recognized this settled and impera
tive custom of commerce by providing
in the constitution that congress shoulo
never make anything but gold and
silver coin a tender in payment o
debts. All modern governments found
gold and silver serving as the money
of commerce just as they found whea,
serving for food, and tits quite as easy
and sensible to enact that the people
shall live on paper for food, as that
they shall use fiat money only in busl.
ness. This is one thing that is quite
above governmental regulation.
Another elror is that coming imparts
value to gold and silver. 1t must be
borne in mind that value exists also
quite independent of legislative enact.
ment. The governments stamp coin.
ing dollar of goldis only certificate
this piece contains certain number Of
grains of given fineness, that is, that
there is a dollars worth of gold in
this coin. The only advantage gained
then, is that the price of a commodity
exchanged for gold or silver can be
counted in the certified pieces and
save the time and labor of weighing
tie money in every transaction. Many
are living in our midst who have prac-
tically realized this convenience. The
miner with his gold dust must weigh it
out with care when making his ,.ur-
chases offood, ,raiment and tools, finds it
much more convenient to purchase
with coined gold, though the value in
exchange is not increased by the coin
ing.
1t follows, therefore, that the value,
or purchasing power Of gold and silver
will depend upon the supply of these
metals in the world. This is SO uni
form that there have been but two
marked changes affecting the whole
commercial world, in thousand years
One in the sixteenth, and the other in
he middle of the present century.
But all nations having bi-metalic
standard find that gold and silver are
lot always of the same relative value.
In Japan it was till 1860 as I to 4,
;ince then as to 13 1-a."-PERRY.
Ours is more largely a silver pro-
lucing country tending to make silver
more plenty and therefore more cheap
han gold. A sufficient reason, this,
Why our silver dollars should have
more silver in them, that they may be
lollars indeed. We have further il
ustrations and proof ofthe Importance
# government to benefcially change |
he laws Of trade that represent AID
rystalize long usage. in the futile ef.
ort to send out in the channels of
rade depleted and dishonest silver
onars. 1t is as universal as the ex-
hanges of commerce that the best
loney goes abroad first. So if we
'ould get our silver coinage into Cir
ulation we must make our dollars
orth at least 100 cents. or else our
old will go abroad and the deprecla-
d silver remain. We will pay the
'reigner 100 cents value in gold for
nports, and our home laborers So 1-2
.nts for dollars worth of his pro.
this being the relative value
our silver dollars. u
Lastly, let It be remembered that
e government circulates its coiL on
in payment of services rendered.
hat money goes to foreign ,
'untries only to pay for COM