The Democrat. (Scotland Neck, Halifax Co., N.C.) 1884-1896, 1891-07-02
MONEY AND ITS VALUE.


thev are commodities ike a oushel
Of wheat. a pound Of cotton, Q. i
,>srd al cloth. The value IS fixed
and determined by p Ito grams
of gold oil 4121 grains OF silver Wild
the stamp of the government upon
IT. called dollar. With these
dollars under the seal and sanction
of the government we measure tic
valhe and tx the price OF LABOR,
horses, land, and everything we
buy, sell or own. If naper dollars
.rc stamped, sealed and made
legal tender for all debts public and
private by the government, ana
redeemabIe or exchangeable for
gold and silver dollars, they too
would be a measure of this value
as we'll as gold and silver dollars.
Monometalists claim that nothing
but 511O grains of gold ought to
measure valaes and fix prices.
Bimetahsts claim that 4l2l grains
of silver ought to be a measure OF
values as we'll as % ITO grains of
gold. Greenback men Claim that a
slip Of paper issued by the govern
ment and made a legal tender ought
to measure values as we'll as gold
and silver coins.
If gold dollars; or SILVER dollars,
or paper dollars, or all three, are to
be the measure of the value OF
labor. or the products Oflabor, they
ought never to change in value,
any more than the yard-stick ought
to change in length, the pound
weight in weight, or tue quart
measure in quantity. If what we
call money changes in value, or the
vard-stick or the pound weight O.
the quart measure changes II
length, weight or quantity, who
could calculate what day wOnl(
bring forth? Who could buy Oh
sell an article? The whole com
mercial, social and financial worlC
would be thrown into a state o
confusion. Business, except by
b trter and exchange under the EYE
of both the contracting parties
would cease at once. No man cOull
tell the value of his horse or land
or the length of his yard-stick, o.
the number of gills in his quart, OF
the number of ounces is his pound
The dollar, the measure or stand
ard of all values, ought always L
remain the same. Let prices Of 81
commodities measured by the dolla
go up and down according to TIN
laws OF supply and demand. IT al
article is scarce let it lie high,
abundant in quantity let it be low
Fools say we can't overproduce
wise men know we can overproduce
glut the markets and break down
prices. Overproducti0n, underpro
duction anu an average production
are the only conditions thai ough
to change prices, with the e2cep'
ton of transportation.
With gold alone as the measur
of values, and that in the hands o
few, and a very scalce article a
that, the prices of labor and th
2 products of labor and land ar
)! pressed down TO starvation points
7 while the prices of the articles i
the hands of the few who contrc
the gold, are pressed up to the poin
l just sufficient to keep the masses i
F., poverty.
? But it is not the single gol
y standard of values that makes til
: products of the farm and OF labo
: low.
e 1t is the absolute scarcity, tn
want of a sufficient quantity {
T gold in existence to measure tn
T value, that is to purchase tn
products of labor.
b If gold should become abundal
t like iron, and as easily gotte
q possession of AS iron, and the sam
q number of grains formed leg
y tender dollar, the prices of ever,
thing we buy and sell would az
vance out Of all reason, and Il;
; government would be driven t
adopt a new measure Of valae
We would have to take Il four hOr>
/ wagon to carry the price OF te
bales of cotton.
= Suppose from some unforesee
u cause nineteen-twentleths of th
> gold in sight should be lost, and II
more should be discovered an
) taken from the bowels of the eartl
} What would bushel of corn bring
t Not more than one cent. W hf
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