Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1891-03-04

wouIo DC guaranteed py the community,
as nation, such com nunity, in their
turn. being secured by the land of the
individual members, such land being
the basic foundation of the Nations
prosperity and wealth-indeed, for that
matter, the source of its very existence.
Now as to the redeemability of land
currency. Senator Jones, in his famous
speech upon the silver question, thus
happily speaks of the redemption of
money:
The redemption of money should be recip.
rocal between the Government and the peo.
pie and between and among all individuals
In the community. 1t should not only be
redeemable by the Government by accept
ance for taxes but also redeemable bv
and among the people for all property for
sale and services for his hire. Its quantity
should be so regulated as that its unit (the
dollar) should neither Increase nor diminish
In value, and IL should be kept constantly I'm
circulation and not be permitted to lie use
lessly in the Treasury. Any other money
than this Is, to a certain extent counterfeit:
1t Is false money, because when most needed
IL fails to be money and has to be redeemed"
In something else (gold) which can not be got
except at ruinous sacrifice.
He might also have included silver.
The interconvertible bond, or Savings
fund notes" would, as Brother Burchard
points out perfect the attribute of re-
deemability SO far as the savings of the
individuals composing the Nation are
concerned The money being at once
loaned out to other individuals insures
the active circulation of all except the
necessary reserve fund.
But there is basis for money. the
grandest, surest and most solid basis of
all 1t is the power to levy and collect
taxes. AS jefferson said: "a paper
currency bottomed on taxes" From
the National Economist, / clip the fol-
lowing estimate of taxes for the year
1890:
NaIlonal 49, 939 956
state l42S2s,s0G
UounIy .;''.''....'..'.''.'..... lss766,6s7
auhic,paL ,.''''..''.....-....... 4s4.fo.; ;35
Total 81 356 27s l49
This is probably $50, 600, 600 more
than all the money, including gold and
silver certificates, in the hands of the
people. that is, not in the United States
Treasury. The National Governments
it will be noticed, takes as taxes al
most the entire amount of money in
circulation and not held as reserve
funds, etc, by the banks and loan and
trust companies.
What, then, are taxes? Let MS first
inquire what money is. Money, in it's
simple analysis. is a certificate that the
holder thereof has performed certain
amount OF work for, or parted with
certain quantity of commodity to, the
community, for which the community
owes him like amount of labor or COM
modify. Bastiat says: "You have a
crown piece. What does it mean in
your hands? If you can read with the
eyes of the mind the inscription it bears
you can distinctly see these words: Paw
to the bearer service equivalent to
that which he has rendered to society.
Value received and stated, proved and
measured by that which is on me-"
What then is money taken as taxes?
Nothing more or less than negotiable
due bills or notes, payable in labor or
its products, given by individuals, as
such, to themselves in their communal
or governmental relation. be such rela-
ton municipal, county, State or National.
Henry Thornton says: Money of
every kind is an order for goods. It is
80 considered by the laborer, when he
receives 1t, and it is almost instantly
turned into moneys WORTH
What is money taken as taxes used
for9 To pay the expenses of the Gov
ernment collecting such taxes. In
other words, to certify to the indiyid-
uals composing the community that
those to whom such money is paid have
rendered services-performed labor
for the community, and that they are en-
titled to like amount of labor or its
products In return Where does gold or
silver figure in such an arrangement
And why 10 not a day's labor
the true measure of comparison or
standard of value so-called? Whv some
States and a multitude of counties issue
warrants or scrips for services per
formed, public improvements. ato..
making such warrants or scrip receiv.
able for taxes, and railroads, large land
owning corporations. etc, eagerly buy
up these warrants, to the extent of their
taxes II they can get slight discount
on their face value, and they paw
actual money for them Such States
and counties supplement or increase the
volume OF circulating media within
their borders to the extent of the sum
OF such warrants
Now, If the contraction of the circu-
lating media from S72 in 1866 to s1e in
1890, has had the effect of taking off
two-thirds of the price of land, labor
and all commodities, will not The issue
OF $4,000, 100000 of land currency in
crease the present price threefold3
And II yes, will not taxes increase in
the same ratio, so that then, as now.
the total volume of currency in circula-
ton will annually pass through the ta~
gatnerers hands? We demand land
currency, nottomed on taxes, and Sc
cured by the land of the individuals
composing the community.-Geor0e q
Ward, IN National View.
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49, -
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