The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1889-10-17
More Questions and Answers for the Peo-
pies Forum.

O-When was the .. ate pi Frank
in" of which you speak, formed !?
AIN the year 1855, b. aclngel
ton which met at Greenviiie in No
vember 1t was named Franklin
in honor of the illusirious Benz
Franklin. Col. Sewer, ii very gallant
warrior of tbs Revolutionary s;rugg lie,
was elected Governor, and the State
over which he ruled embraced all the
tween the Allegheny Mountains ANA
the great Father of Waters"
Q-Was the money (the deer skins,
coon skins and mink skins) of the
State OF Franklin good money in every
serse of the word ?
A-Of course it was. The same
authority that established the State
fixed or regulated the currency" OF
the State. There exists no other pow
er to make money.
Q-Nere the skins redeemable in
gold or silver?
A-No; the skins had no promise
to pay" written on them they were
legal tender by law, and when the
member of the Assembly received his
coon skins per day for his services,
he was paid, and his coon skin was
only redeemabie III the way that any
money ought to be redeemable, by ex-
changing it for anything he needed
for personal and family use.
Q-l see, then, no difference i'll
principle between the coon skin money
of 1885 and the god and silver money
of 1889.
A-There is no difference, only
that the use of gold and silver as a
material for money is the biggest piece
of Damphoolishne&s.
Both are commodities having !,
value in themselves-Ghey are mar
ketable products bought and sold in
the markets of the world, and are
therefore unfit for use as money ma
terial.
Q-Is not your reference to the
estate of Franklin" of rather doubt
ful propriety, since, if | remember
correctly, that government was some
what revolutionary and did not last
long?
Alt did not endure long, it is
true, but that fact does not invalidate
the argument at all Near the Close
of the 17th century the State Of Mass
achusetts used wsmpum as "legaI
tender" money
Up to the time Of the establishment
of tie Bank cf England iu 1854, the
legal tender money Of England was
made of wood-their exchange tallies
as the money Was called, sustained
the trade of tie Kingdom Till the
tsta blishment oi the bank.
Q-What is meant by the Wampun
money of Massachusetts
A-Wampum was beads made Out
Of shells; the piece Of shell was one
quarter of an inch in length and about
the size of all ordinary pipe-stem
with a hole drilled through it length
wise, and was rated in exchanges as
"a. .iarthing. There were, Of course, 96(
beads in ar English pou1d, as WE
have 100 pieces Of copper (called
cents) III an American dollar. Th.
$50 beads were nearly equal to our
So gold coin.
Q-Has silver dollar more than
one value Connected with it?
A-Yes, it has two distinct values
1t has a iity-i..trinsic value
of 80 cents, and money value, give,
to it by law, of 100 cents. These val
ues. however, do not co exist-that is
do lot belong to it at one and th'
| same time; it is not worth 100 ceuu
and 80 cents, or 81 80.
| Q-Can we make use of the meta
principle and the money principle a
one and the same time, or use botl
together?
| Ave cannot. Ii we take sill
yer dollar aud convert it or manutac
ture il into rings or gun sights, lh
money value is destroyed; ii We use i
as money the commodity value is de
| stroyed.
Q-What do you mean by pal4es
A-The value of anything has ref
erence to the use or uses to which
ma. be spplled.
Gcld bas value; that is, it may b
| oSCA <C ~ VI oSCfNt w sluSt II tIC "a IA "
the bankers daugl ter; it may be use'
to mount the harness OF the banker
bays; 1t may be used To giI,l the han
dies OF the doors that open into tn
house ut d,structioi.--the office of tn
money changer.
| Odd nuL the Chinese ut one tin
use tea as money?
| A-Yes. The aneient Chirese use
tea pressed into small cubes for mon
ey, and the tact supplies sn excejit /
ilIustraii II OF The subject under Iii
cussion. IL lie CnIhaman rated Ii
cub.s OF tea at 8 cents each, when il
had 20 cubes on hand, he of curs
had what we tefln Il dollar, With wiic
he could pay a dollar debt or e,
change Tor suue article on sal. IN Il
market. 81 luiiy as be Kept it in cub
form for exchange as money, it coul
have no value luse) as tea, aud ii
moment he sleepe.i sAd drank it. ,
tea, its money value sseparied.
could not be used as tea and mone
NO more than gold can be used Ms
spoon aud money ut one aud the san