The Bottineau pioneer. (Bottineau, N.D.) 1885-1895, 1890-02-22
THE FARMERS COLUMN.
Edited BY the Pioneers agricultural
Correspondent. !.
The,Protsottonist oatechism.

q. Are g,ld and silver the products Of
labor? A. Yes, the same rs wheat and
corn. They are the products labor in
mines.
@. What is necessary before an exchange
can be made? A. That bota parties shall
make p; oft. ~@ ..a
@. How can both parties make a profit?
A. By each receiving in return somsthing
| Of more value to him in his Own country
q more nominal value = than what is given
| of o product? A. The lator cost in max
ing it. f., ~. .. .. ..e III
@. How is the labor cost measured? A,
In the gold and siyer of q country. @@s
@. Hoy many values has product? A..
Two. Its intrinsic OF commercial value in
deper IDENTITY Of any ything else; its relative or
nominal value in proportion with other
things. .tS'
@. Is the nomin, value Of silk different
| in each country? A. Yes in precise pro.
portion to the labor cost. as measured in the
gold or silver Of the country, but its real
| value is the salus in each The nomir nj
value Of all products is ditfere 1T in different
countries. in precise proportion to the labor
cost, i'll gold or getting them. but rhe actual
or commercial value Of any product is the
same in every country OF tho world.
| @. Is the nominal value of gold and sill
yer different for each country? A. Yes, in
precise proportion to the labor cost of get
ting it. It is product Of labor, the same
| aS corn. < t...-. '..
| @. Is not gold dollar werth the same In
every country? T.. 1t is not worth the
same, either as money or as a product Of
ls Dor, in any two countries Oh earIh. In
some countries it is worth only oae-tenth
what it is in others. Its nominal value de-
+ ends upon what i, can be exchanged for.
In OF . country it can be exchanged for one
yard Of silk; in another for Two; in another
1 for ter. Its nominal valre, like that Of
wheat, is everywhere different, but being
measured in itself this in not always appar
ent. Its actual or commercial value IL
everywhere the same.
@. In what Cot ntries is 1t worth least?
| A. In those where other products ore
worth nlost--where one can get the least for
| it, @.,..u. ~. ...
@. In what cne country is it worth least?
] Az The United States. because less can be
| obtained ror it there than elsewhere.
Or In what countries is it worth most?
| in cheap labor countries, where the largest
amouL t of product can be obtained for il.
@ Does its nominal value differ inside
the borders Of a country? A. Asa product
| Of labor it does; as . standard or measure of
| value it does not. r.,
@. Why not? Because, as each
country accepts its nominal value rs pro-
| duct OF aoor at any moment as he lawful
standard Of comparison for that country.
measured in itsel!, it cannot vary~in value
~ a standard.
@. Why is standard taken? A. That
| each cout try may have conyenient and
easy medium for exchange by its people.
4 man might wish to exchange q pair OF
boots for -four, ten. sugar, beans and tobac-
co. It might take him a long time to find u
person having all thess who wanted the
boots BY fret exchanging the boots for
gold or silver in small pieces. called coins,
he can readily exchange the latter for his
wants. @ ss
Cannot gold and silver beexohanged
without los s or gain anywhere in the world
for like amount Of gold and silver? A.
Yes. But SO can wheat. on silk, or tea. or
any product Of Labor. or even labor itself.
The CONNIE, cial value Of everything 10 the
same every where. The nominal value Of
any product in any country depends upon
what can be exchanged for il; and the nolni-
nal value Of gold aud silver as products of
labor depends upon what can oe obtaine
for them. It differs, therefore, in each
country.
Q. Is not 500 in gold worth a. much in
the United States as in England or France?
A, No; it is only worth about half as Aluch
in many cases.
@ Why mott A. In England gold
dollar, or 25.8 grains, can be exchanged for
(buys) twenty-five pounds Of sugar; here
for only eleven pou Ids. In France il ca
be exchanged for two yards Of silk; here for
only one yard. Thsreif can be exchanged for
two days labor Or is product: here for only
one. ;.s;
| O. What causes the diferencei Its vary
ing value ~ product Of labor, No money
can be used in sransactions between nations.
The use. of gold al money ii confined az
cIusiysly TO lawfully defined limits and 70
lawfully defined uses within country.
Expolfed coin ID = prodac. Of labor having
NO yaiile as money and no use as money.
q. Whist do high-pricsd labcr countries
wish TO set IN exchange: a. Manufaotur-
es, because ss products of labor, the7 are
worth more % them thAn goId.
What de ~-prfssd labor countries
wish 70 get ~ exchangs7 a siold, be-
cause ~ y rroduct " labor, 4 \ worth moro
~ ~ ...~.A