Dodge City times., 1891-10-09
INTRINSIC VALUE.

Gold Possesses Less Intrinsic Value Than
Almost Any Other Substance.
The gold standard advocates base
their claim on the intrinsic value of
gold Gold is used for money because
of its intrinsic value. But for its in.
trinsic value gold would not serve the
purposes of money. As the entire gold
scheme rests on the intrinsic value, it
is important that we get clear idea of
this word intrinsic"
Intrinsic, as applied to gold in this
connection means inherent natural,
self-contained, non-contingent, actual,
positive and ever present
There are two kinds of value, in
trinsic and commercial All values are
determined by use, utility. Water has
great intrinsic value; SO has air.
Neither, as q rule, have any CONNER
cial value.
To get at the intrinsic value of gold
let us suppose there is great mountain
Of gold and an equally great mountain
of iron in the center of the United
States As intrinsic value is deter
mined by utility, which of these would
the largest number and amount of
uses to the people?
To catalogue the utilities of iron
would tax the entire space of the
Kansan; to list the utilities of gold
would require but a short paragraph.
Will the reader pause, take a pencil.
and write down the uses 20 which gold
is put, aside from its use as money?
Having done SO will he get hold of
set of catalogues relating to the various
trades in which iron is used, and then
compare the two? This comparison
will settle the question of intrinsic
value, and will prove that the inherent
value OF iron to our civilization is
multiplied ten thousand times over
gold
The intrinsic value theory will not
stand the test of examination. An
ounce of gold is worth SIG to-day be-
cause it can be converted into sixteen
standard dollars Suppose that one
ounce of gold has its use as money
eliminated, and that it was wholly de-
pendent for Its value on its uses as a
metal, what would it be worth? To-
day it can be exchanged for twenty
bushels Of wheat not because the
wheat-seller wanta an ounce of gold,
but because he wants twenty dollars.
He might want . stove or a thousand
other things made out Of iron, and give
his wheat for them, or for whatever
would got them, that is for money, but
be has no use for gold no matter into
what shape it Is put
Take away the conventional rse of
stamped pieces of gold of a certain
weight ana fineness as money, remit it
- iron is. to its uses as q metal, and
The ounce of gold that is now equiva-
lent to s1e would probably not be worth
D. Two-thirds Of the supposed intrin-
lie value Of gold is conventional, or. to
use word that always terrifies gold
standard sdvocate-is 6at.-Pittsb burgh
"A gentleman delivering speech
held up . greenback, and taking q
ereenbock dollar out of his pocket and
holding Il mp to the audience asked:
s.What ID this? A dollar. And it is .
good dollar; good for the farmer. the
mechanic, the merchant the sailor,
everybody. What makes it . coed
dollsr9 Because every dollars worth
Of property in the United states is be-
hind Il and the LIES blood Of every
txue and loyal American citizen is be-
hind Il And that makes Il . good
aollar." The gentleman made this
nueech at Skowheg1n, NaL, IN 1851 and
81 name was, and b Janes G. Blaine.
h WAS It time when the money lings
lad not bought aad paid tos hiA-
Igatioall AAsanea