The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1882-02-04

4
and checks, drafts and clearing house
cestilicates, 91.s5 per cent Of the whole.
The Comptroller lled0ceD from these
facts and from the reports Of able hnan-
! ciers and s%atisticians a 0ther countries.
that tho actual use Of money Is being
limited more and more every year to ltd
legitimate sphere. - . standard OF value.
Intelligent and thoughtful men are BE-
coming to regard gold and silver purely
in this light. The merchant who buys
! in,l,,ei,ce stocks IF goods does not carry
with him grip suck full Of gold or Sill
yer or paper money with which I" pay
for them. Neither .isr the silver pro-
duccr always receive in actual coin and
tre:,sur, notes the amount for which he
sells his bullion The balances only,
that may be as.ertainct! from time to
time are transmitted by checks, drafts
or other paper. which simply represent
the value Of the article which Is placed
to his credit. 1t is the silver or coin up
on which these checks Or drafts are
prrllcated that givv:, them their value.
After this money 4us stiOn has been
run down to the. act I'LL! standards Of
va'uc-golN aud silver-it becOnies
pertinent question to ask, If what does
their value consist: The productions Of
the farmer and manufacturer represent
actual value. 1t takes time and labor
I. rr. ate them, and time and labor, in
one S.l.se, are .thc natural and lcgiti-
mate elements "t value, Is they are UNI
affected by speculation Or arbitrary
considerations. Hence these prO(luc-
tons Of time and labor, with the super
added cost OF their transportation and
distribution are the natural basis Of all
transactions. But it is found inconven-
lent I" exchange one mans productions
:ur these III another. For instance the
l.u,l;a,r of wheat cannot exchange his
"1:,uio.!;ty directly with the raiser Of
cotton for lis production, therefore the
necessity exists for some MEASURE Of
value i'y which that Of the productions
u; The parties named may lc deter
mined. That measure 10 found in gold
md silver. established iy cOri-
men cul.tm! among the nations
o.! The earth and the Usage If mankind
az old as civilization itself. Time and
experience have proved that this meas
ure of value is, at the best, Tut an :rLi-
ii::r: one anil may le affected by the
POPULATIONS al; designing men as
readily ~ the value Of mining or rail
road stocks may ~ depressed OF expand
al. 1t becomes apparent then that gold
AID silver bear the same relation to the
worlds transactions, in 80 FAR as their
>!an,:ar.l~ "f value are liable IL l.c affect
"a ~ :!.c ii,triglt~ If designing men,
as the legitimate values Of mining or
.nilrs,d st'~'ks hear to fictitious values
placed upon them Ivy interested ,l.amilr-
;:at"rs and reckless operators. In other
words, the purchasing power Of gold
ami silver may be decreased or increased
by concerted action among men.
This is shown by the operations in
the money markets Of the world. Dur
ing the past eight ycars the bears have
exercised iu'i power and have succeeded
in depre' !ating the value of one Of the
royal metals. The crusade against it was
ls.-e.l upon greed. and money changers
have enriched themselves at the rxl".l,.c
Of ,iivcr-ir"lu'rrs. This has lx.rn done
III probably il will continue I" Ie done
in the face of the fact that Mine-tcnths
ri the actual business If all civilized ma
tiOns has lsen conducted with PAPER
currency b:,s<Hl-in some cases on some
other lx.lcr-On an ultimate deposit of
gold and silver somewhere. The unmi,--
taka;ic knowledge that the coin fer liz
redemption exists in some certain place.
is al that the il.>ine:: world requires
to know ~ its exchanges aII.l dealings
among lis in.iiv;,ill,' members. In the
opinion rr able i;,,allri.rs the vo!u:,.c of
orr carr, n.v Is not to" large t. NEE: the
demands III oar tr,'." What wc want
il I" invest silver with the SANE. import
ALE" that ATTACHES I" g,.l.l, 10y maxim. il
the basis upon whicl, PAPER in the form
q. liver certificates may he issue! tn IN
amount regulated hy The demands, ri
trade. !l,t~c certificates should take
the place Of the notes "f the .,l37 Ma
ti"nal hanks now in existence. in the
United States. When this shall be- done
silver vii! !nr"nc money in every sense
"f il:e term, and III placed. az far H. any
money .a:, ''e placed, outside the <pher.
.: spectators and E,oncy-, hangers.
Something About the Vanderbilts.
This family continues to attract at
t'n,in. While Wii'ian,> palace :.wak.s