The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1891-11-12

The Effect of Laws by which Debts
Incurred for Labor Products are
Made Payable In Legal Tender
Money, the Volume OF which is Re-
stricted In the Interest of Specu-
lators.
How Government Creates q Demand
for Money without Providing for
it's issue in Adequate Volume.
Published in Pamphlet Form by Jas.
d. Holden, Emporia, Kansas.
There are but two legal methods
by which men maintain themselves:
l. By labor, mental or physical.
2. Without labor, upon the interest
Of money.
While there are four principal
agencies by which wealth is central.
lied or inequitably distributed. SO
injurious are the effects of two OF
these, that the condition known as
''hard times is the natural result OF
their operation. These two, named
in the order OF their pernicious in
fluence, are:
l. OUR NATIONAL MONEY SYSTEM.
2. OUR TRANSPORTATION SYSTEM.
Under both these systems as at
present conducted, the producing
classes pay tribute to the private in.
dividuals who through legislation
control them.
The enjoyment Of life by mankind
consists chiefly in the mental and
physical consumption or use of the
products Of labor. The exchanging
of the surplus product of one man 8
labor for that Of another, constitutes
Commerce. To facilitate these exchan-
ges, the device known as money was
instituted among men; by reason of
its various properties or powers,
money acts as a medium by which
these exchanges are readily effected.
AS his enjoyment of life depends so
largely upon the ability of man to
effect these exchanges whereby he
obtains what he wants for that which
he does not want, CHS surplus pro-
ductl, and as he is never without
wants which he desires to crafty,
this medium of exchange which is SO
essential to his happiness-because of
the office it performs-is naturally in
universal demand.
In medium of exchange, VALUE is
indispensable. Originally, exchanges
were effected by means of medium
possessing intrinsic value only. Cat
tie. wheat and furs, because Of their
usefulness, have performed their Of
flee; also the precious metals. because
of their rarity, beauty for ornamen-
tai purposes and adaptability for the
uses of money. The legal tender
function of money, however, confer
red by authority Of a responsible
government, gives it legal value or
power of such potency, that the
necessity for intrinsic value in the
material of money is entirely olivia
ted.
The difference between a natural
medium of exchange, and money
which is a ,essal! msaiiim IS not gen.
orally recognized even by men other.
wise we'll Informed. The former. not
possessing the legal tender function,
acted Independently of Legislation
and naturally performed the office be.
cause OF its inherent value and use
fulness.
The value of money, however, is d
LEGAL VALUE or power conferred by
legislation, and j. "ot Ter create :,
potency than ACTUAL a. intrinsic val
ue. The legal teader junction which
money alone possesses, involving a.
it does the legal power to discharge
obligations, public rnd private, lgive,
money value and creates for it de
maHd which makes it suitable ant
effective medium to legally exchange
represent and measure values.
AS is the case with The legal valu,
ola mortgage. ta!o"ltRal talYe o
n!!ohey u not ihcrsased nor diminish,
ed by the character Of the substance
) upon which it il expressed. Thu
powers OF either are as potent ex
pressed upon paper, as impressed o
engraved upon metals. Both are lie
gal obligations only; the mortgage
one the parties to which are individ
,, uals; money, legal obligation exist
ing between society and its memte II
| rHF DIREFu, Vi ,E.4 " Az ER.
:, nukKots bEL1kF.
The current belief that money, il
addition to its legal powers, must a.
so possess intrinsic value, has been
costly one to humanity. III aelie
h tnSet has apalaveA tho producin
!: GLASSES for centuries. and will cor
: tlnue to do SO while it exists; il eI