The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1889-10-17

all according TO the common iie,s of
+, ,esiein.,,ipn
A The idea of re,i.enIiny one
kind of money with another kind If
moaer is in itself ridiculous The oi'v
true redemption of true legal tender
money consists in exchanging it fr
soEle ~, al article of property. Frut
money, such as the1r,'ple nee.i abr'se
ali thi. -, is always bing redeemed
yet is never redeemed, for the reason
that the only legi innate use "f money
is in It's circulation i'll exchanging
values. by moving from hand t. hand;
going like Tennysun's brook, "ever,
ever, ever, going OH forever
Q-What, then, it'ihesc thugs he
true, are we to think of Those who III
tertere with the circulation of money
those who stop it in its life giving
course, either by boarding it or put
ting it out on usury?
Alt is beyond question the highest
crime on the worlds great docket.
Q-Since the metal value of gold
and silver is altogether distinct from
the money value, whence comes, or
wherein lies the money value?
At exists wholly in the stamp;
in The impr ssion made upon it by
authority of law, in the mint where it.
is manufactured
Q-Would not piece of paper
stamped-im ,ressed with the words
United States of America; Twenty
Dollars" by authority OF law, the gen
eral consent Of the people, expressed
through their representative in Con-
gress, be equally valuable as money
as piece of gold or silver stamped in
the same way?
A-Of course il would. The paper
$50 would III many respects be super
ior to the gold.
Q-When a iabnrer receives from
his employer $50 Tor tmo months
labor. is he really paid when he takes
the coin into his hand?
A-No. He cannot eat it, drink it
or wear il. The gold is y perfectly
useless thing To him till he puts it in
circulation by exchanging it for some
thing he can eat, drink or wear. Then
he is paid, aud the money has merely
enabled him to exchange his labor
for the product of some other mans
labor.
Q-Would not a paper $40 have
accomplished exactly the same pur-
pose?
A-Precisely. Do you not see that
yardstick made Of gold. or half
bushel made of silver, are worth No
more us measures than if rua,le Of
wotd.
Q-Is it not an inexcusable extrav
agance, then, for the United States
Government IL make money ..ut of
g,.d and silver?
A--Yes, it is worse than extrava
gsuce; it is d piece of half civilized
stupidity to impress the money prin-
cipie upon material So costly AS gold
and silver, when one infinitely less
valuable would serve the purpose
much better.
Q-Now l desire to know just how
even SO powerful and responsible a
government as the U. S. government
is, can impart value to that which has
no value, or make that which costs
nothing worth 8 mething. What makes
a paper dollar worth dollar?
A-Your question is not difficult /,
answer, as at first sight it may appear
u be-.
Ii is true that the cost of making IA
paper dollar is very trifliug, but the
value If the dollar is not in the mate
rial paper or III the printing, but in
what it is made to represent.
The cost of making u mortgage is
a trifie, and yet it may represent thou
sands of dollars. A mortgage engra-
we'd upon solid gold plate would be
worth no more as a mortgage than
one written on cheap toolscap.
Our one and two cents OF copper
coin were authorized by law of April
22d, 1864.
The cent weighs As grains, and is
composed of 95 parts copper, and 3
parts tin and zinc.
One hundred Of these one cent
coins contain 4, 800 grains, while 100
one cent coins OF 1892 Gold coppers)
contained $4,000 grains. Here is an
actual difference In weight of 81 ,20C
grains between coins of the same mon
ey yalue-the law makes them equal
What is the commercial value
IF a poundsuf the metal out of which
these one and two cent pieces ar.
malie ?
A-About 20 cents.
Q-Huw many one cent pieces caI
be coined from q pound If the metal
A-One hundred aud sixty
one dollar and sixty cents.
Q-How is it that pound Of meta
worth only 20 cents is multiplied eigh
tines by coming, or 70 cents Of com
lnercial value is changed Or converted
! into $1.6O money value?
Alt is done by The fat of la x
! and cannot be otherwise done. il i
purely the work Vi the people ia ti,.i
Cangress. regulating The currency.
Copper is converted tntu money b,
stamping it according To law, just a
gold and silver are converted inL
money; just AS paper may De coine'
into money.
Q-Have you anything more :
say upon this question
Ayes, much more, but not nov
Look into the next Forum
ONE OF THE people.