The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1881-11-10
Lime Springs Correspondence.

Ed. PLAIN DEALER:- A COOL. honest
republican after reading my letters
In the PLAIN DEAhER of May md July
Inst, snid to me: Brother Daniels,
l have bccn reading your articles on
values. and money, and ! think you
arc getting into deep water md will
90 under II sou do not look little
ont" Ny answer was, my brother,
the watcr In that stream mny be deep
and tho stream il wide, but can sce
good, hard, rock bottom. clear across
Il and good dry shores on either
sidc,' and with your permission. Mr..
Editor I want to further examine the
question and soc II we cannot find
the Bed rock ~ common sense, un.
der Us all the why. l suppose my
friend referred 70 the general PROPOSE
ton laid down In my several letters.
which Gun be summarized about all
follows:
1st. The actual. intrinsic value Of
any substance or thing depends on
It's ability, in and Of its own sub
stance and qualities, to minister to
mans pleasure or necessities.
End. That gold, tested by this
standard. lost largely in value. not
being capable by virtue OF Its own
qualities Of ministering to mans
necessities In the least and to his
pleasure or vanity only In limited
degree, ms in ornaments and works
of art that its commodity value re-
suited largely from the fint OF the
governments that used 1t for money,
that should the governments OF tho
world dcmonetize gold, It's value
would shrink to an unknown quanti-
ty.
ard. That tho above propositions
being true, a paper money, which Is
simply, full legal tender quality (iat)
is for al practical purposes better
than gold money.
4th. That the supreme law-mak-
Ing power Of this or any other count
~ was the only power that could
make money Of any kind, and that
the congress OF the United States
was clothed with full power, without
restriction. to make money OF any
material, which In Its judgment
would best answer the purpose.
| Now Mr.. Editor, I claim that the
first two propositions are self evi-
dent, and need no proof that the
Bed rock is plainly in sight II men
will only look toward it, and II they
are true 1t follows rs logical conse'
, qucncc that the third Is true. Onl,
the fourth proposition, the power o
lcongress to make fiat money re
, quircs proof aud l think We have tina
In abundance.
Il Fiat, let It be done decree com
mand, a decisive, effective command
) presapposing and OF necessity hav
ing power behind itfor its execution
Without power to execute there cai
be no fiat, consequently none,
. that will not answer fully all thu
, purposes OF money is not fiat none,
!, as there Is lack Of ability to enforcs
the fiat or command. Or course ",
! mean within the jurisdiction Of thu
/ power issuing the fiat. think II |,
generally understood that Green
hackers, rs apar'y and rs individ
uals deny that there il such thing
rs tho worlds money, although ",
admit the fact that the Hat Of oul
Tate Secretary OF the Treasury, Mr.
) Sherman, LET the greenbacks b.
! received for custom duties" having
! raised our imperfect national none,
! to par with gold aud above 1t, MOI
only In this country but In Europe
lust think OF that! Grecnbacks ut 4
premium, Gin Europc) clearly out o.
, the jurisdiction Of this country aud o.
. Mr.. Sherman even. But here the op
: ponent comes up and says: 1T |.
resumption sir; it is the fact that 20,
can 60 to New York City, tho on,
! counter in the United States, witt
: fifty dollars and get your gold
! that makes the grcenbacks up to pa
with gold and above it. We den,
this and affirm that the running
stream cannot rise above its source
the thing redeemed cannot rise abo
rcdcemcr. The fact that during tn
frat nine months oflSSOless than tire
fourths Of million dollars was re
deemed, controverts it; all expcrienc
with redcemablc money not leg,
tender controverts it. The premium
!. has always been the other was, q
: every business man OF fifty years Z
= over knows. No. sir, it IL the fact, thu
= owing to the fiat above .mentione,
: that makes it money Tor all purpos.
: and its greater convenience in hand
" ing and transporting that makes 0,
national paper money the best none
we have or ever had, but enough O
= this point.
i Now for proof OF the assertio
that Congress has the constitution,
i right and power to make. or coin. /
. sue and use this kind Of money. clotl
ed with all the attributes OF none
= IN its full sense. After caref
:. study OF the constitution l ean fin
.. only one clause quoted In one OF n
:, former letters as follows:
Art. /. Sec. VIII. Congress sha