The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1882-10-12
Wlnt II Money {

the HlhtcTlHl III WllieH ~ ~ Ulbufs
barrel IL u vessel If peculiar shape, lie.
signed for particular purposes. and can
Do made of metal, stone, pnpcr or wood:
hut To say barrel Ii hickory wood, IL
to imply TINT hickory wood consists OF
barrels; likewise. to say TINT money ~
gold and silver on paper, IL to assert
that gold. silver and pnpcr are money.
Thus II is evident that money ~ not
the material of which II il made,
and consequently II matters little OF
what material money IL made provided
IL can stand the wear and tear Of the
usc to which money IL put; just rs u ~
OF slight Importance what barrel IL
made Of, provided the material used
can bear the strain to which barrel is
subjected.
have said that money Is not the
material Of which Il IL made; this tells
what money IL not. hut II gives no idea
of what money really is. well then,
stated concisely, money Is the difference
or amount due in M exchange OF prop.
erty.
II needs ONLY u slight explanation to
render this sclf-cvident 10 the dullest
comprehension; md. that this cxplana-
tion may he more effective, shall give
IL in d way to also describe how money
was created.
There was time when money did
not exist: people then supplied their
wants by hartering the products OF
their labor: and to this primitive
method Of doing business we owe the
gradual introduction Of money, NJ fol-
lows: The shoemaker agreed with the
farmer TO give Ave pairs Of shoes III ex-
change for ten bushels Of wheat; hut,
when the wheat was delivered, only two
OF the i've pairs of shoes We're ready
for the farmer: thereupon the shoe
maker. as remembrance Of the differ
ence due in the exchange of their re-
spcctivc properties. gave the farmer
token to indicate TINT three pairs of
shoes. or their equivalent value, were
still due for the wheat received
The farmer. having confidence in the
shoemaker, accepted his token. and, go
ing to the butcher, engaged to take 81
him certain quantity of meat, hut,
instead Of wheat gave the shocmaker's
token in payment, which the butcher,
like the farmer. used in his turn 70 pnr-
chase some ncccssaries. Thus the
token circulated from hand to hand,
until il came hack to the shoemaker.
who redeemed II with three pairs OF
shoes. as the butcher had previously
/ done with pig or the half Of a calf
In this way the shoemakers token,
representing the difference in M eN-
change of his and the farmers property,
became money.
Now it il evident that il was of little
moment what material the shoemaker'S
token consisted Of. 1t might have been
n strip Of bark. piece OF leather. or
snail-shell with marks thereon. by
which the shoemaker AMI his neighhors
could recognize IL: they were Interested
in what the token represented. and
cared not about the material beyond Its
ca pacity for bearing ordinary usage.
I II is easy to understand that. when
this method of representing the differ
ence or amount due III mn exchange of
property was discovered, II ultimately
came into general use. The farmer
copied il from the shoemaker, the
butcher initiated the farmer and 80 on
throughout all grades of industry. nn-
til every one fell upon the Same device
To indicate the difference or amount due
bv him in his exchanges Of property
with others.
1t il also easy IL understand that
when the practice Of issuing these to-
kens became universal their multiplied.
IT,, great variety Of material and greater
variety of representative value gave rise
to much confusion. which must have
proved VERY inconvenicnt, and natural
IL led to Il desire for something to rem.
edv the evils without impairing the hem
efits which accrued from this method Of
conducting business.
1t is also easy To understand that. after
trial If numerous devices to meet tins
public want, the plan should he finally
hit upon of having tokens of uniform
character representing different values,
which could be used indiscriminatcly
hv everybody. in place Of the individ-
ual tokens which had previously served
the purpose Of money. That is to say.
the shoemaker, instead of giving ut oxen
made liz himself 10 indicate the differ
ence due in an exchange of property
with the farmer. gave the latter one or
more Of the tokens called money. pro-
yilel for the common use.
And il is also easy To understand that
in casting about for material with which
to make these tokens or money for gen
cral use. experience would demonstrate
the proprietv Of employing substance
SO durable as not to he easily destroyed,
and so rare that its scarcity would ls \
protection against tho tokens heinl
Al....
plosment of gold and silver as the ma
terials then hest adapted to the desired
purpose. l say then best adapted
.. to the desired purpose because !.
those early ages neither paper
nor the art ef printing thereon charac
ters which could not he successful,
; initiated vas known. consequently. ON
remote ancestors were compelled to em
plaN the primitive material employee,
hv nature.
Ii, when the first money or token u
: bark. leather or she'll VAS issued. !
were possible IL produce work ot A.
like the United States treasury notes
!; neither gold nor silver, nor any ethe
metal than paper. would have come in
to use for monetary purposes,
rs III Is the iaIS-ctuetNVos SNiaNt0u
use Of gold AMI silver rs materials fe
money has gradually led to the errans
| Gus belief that these materials ar
1 money. instead Of heing merely tn
: materials of manevs and. rs natura
!. consequence. there has resulted anothe
! erroneous belief that money made 9
!. materials other than the precious metal
must necessarily represent the assume
/. value Of the gold and silver metal .
4 ~harl~ money, instead Of the value
!: the difference or amount due IN I'll
: exchange Of every sl,ccies ei propert,
/ gold aud silver Included. = Ntttsai
y Hura,d
!, Us Boys.
= Now. boys when ask vou que