The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1891-10-27

TRADITION AGAINST PROGRESS.
ME- EDIOE: What is money? Every
inch Of the way in real progress for the
human race in wealth, civilization gov
eminent and religion has been fought
with this given monster, tradition.
There Is bat little more truth in our
traditional ideas as to what is money,
than there was IN the traditional idea
that the earth wzs fat in the DAYS OF
Columbus.
Ii Is hard 10 root out Of mems minds
the tradition that good national money
cannot exist without intrinsic value.
That coined gold and silver only are
money" 'NoGhing but gold and silver
can be made into money" 10 De good
money every Dollar must contain 100
cents Of metal"
The shove Sre some Of our traditional
ideas in which there IS 10 truth. The
material OF money may have intrinsic
value, and It may be made without and
yet be Just as good money. Legal value
Is the only value money requires. II IL
Is used or valued On account Of It's actual
value il Is bullion not money.
God, silver and paper that bears
about the sovereign stamp Is not money.
They zre only the material, the instru-
nent OF sgent Of the sovereign 10 repre-
sent It's power upon convenient material
for measuring values.
SO ne must see thSt sovereign power
Is money not gold or silver, neither will
they pass IS money without the soyer-
eiH stamp.
The sovereign power Of s country only
can make money. Il can stamp its
authority upon sny convenient material
and It viii satisfy debts and measure
values. Our revenue and postage stamps
are worth their fare value in q. s. gold
coin, vet intrinsieslly they are worthless.
Sovereign power alone gives them value
The Hon. 4. VI. ConstDek thus dis
courses upon What Is money!" Not
what does Webster or Worcester define
It TO be, but what Is money by its con-
stitution and character? Definitions be-
come important to full understanding
Of this subject. We viii therefore eI-
hibit the character and constitution OF
money and show what It Is not and
/ leave the reader to say Thatit Is.
First, It Is not gold metal nor lis
value. for 25S grains OF gold, Troy weight,
| g-I0 tine, are gold metal and are OF the
/ value Of an eagle, SlOi yet they are not
/ money, and you viii not receive them IN
uzymeut for so due, because they are
I not money. l have them coined into an
eagle: again l tender them IN payment,
ana YOU MUST cancel your debt, Tor
money speaks IN the language OF sOye-
/ reiguty, and there Is 10 appeal
They ara money now, sO-caIled there
I fore. money acts with sovereign power.
| The metal and It's value were there be-
/ fore, but now there Is power. Therefore,
1 money Is sovereign power. The grains
Of gold and their value are identical as
/ before; the power alone has become
I added.
/ You tell ne the words aud figures On
/ the eagle give It the character q money.
/ Not So Examine them. On che side
/ Ne find Al eagle with . scroll over It's
/ head bearing the words 90 In God We
/ TrT1st = That refers 10 . sovereign Cod
| Around the margin Ee ind the words
| ssTTuited States Of America, the name
/ of another sovereign. On the opposite
| side re ind the head Of the Goddess Of
/ 7 7HarfT. the name OF ." Liberty across
/ b.ar broE-uot z god bit . goddess And
/ tbs eazle Is the king Of birds-2nother
/ so-erzizn. All are emblems Of sovereign
power raised IL the god itself; nothing
I more. Underneath the eagle Is Ten
/ Dsr-sIO-the measure Of the power
which acts through that instrument: No
I more gold and 10 more value has been
I zdded, yet Il nov possesses money
( power, which L seen TO Dc sovereign
/ power; therefore, money Is nos matter
I nCr value, bat sovereign power
Again, the new AID perfect eagle Is taken
70 England OF any foreign country. II Is
all there-the gold, value and emblens,
Bat the money has stopped II the United
/ States. It Is no longer money; It ceased to
/ Be money when Il crossed the boundary
/ line between the countries Why? Be
| cz8se the sovereignty OF the United
( States IS bounded Of that line; money,
| being part Of That sovereignty, stopped
! there also. Therefore, money Is power
sovereign power; not matter, Of silver.
| gold OF paper. Ii Is also national. not
| International, or logic has last It's reason.
Jso. u. HogSER.
To be COndnaed.)