The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1892-06-25

%upheavals, financial combinations nor
any other events whatsoever have any
effect on the length of a yardstick
Serenety it remains just &c inches long.
But the value OF money is continually
being changed, TO n large extent, by
such intelligence.
'sThere is one other difference be-
tween dollars and yardsticks which out
weighs all heretofore named. If every
sand ymdsticks, each n ofthose sticks
would measure Just the same length,
as if there was only one yardstick in a
whole village.
'sBut il is entirely different with dol
lars. The greater the number OF dol
lars, relative to the demand for those
dollars, the less each individual dollar
Is worth. The smaller the number of
dollars, relative to the demand for
The value of a dollar is always deter
mined by the average amount of other
things which can be had by Il free ex-
change of dollars for various kinds of
commodities. The more commodities
a dollar will buy, the greater the value
of hat dollar. The more dollars a
given amount of commodities will buy,
the less each dollar is worth. When a
man exchanges a quantity of commodi-
ties for dollars, be buys dollars Just as
truly as the first holder of those dollars
buys commodities. The ratio in which,
on the average, dollars are exchanged
for commodities is called the market
price, and this is chiefly donominated
by the number of dollars in circulation.
But the number of yardsticks in use has
no effect whatever on the length of one
of those sticks
| here interrupted the silver man by
asking him how the ssyardstick state
ment," as he called it., could possibly
be used to defraud any one.
ssOh!" said he, "don't be in a hurry.
| am just coming to that. Shortly after
1S49, when the California gold mines
began to pour their treasures into Eu-
rope, a movement of some of the lead
ing political economists and %financiers
of that continent began for the avowed
purpose of procuring the demonetiza-
ton of gold, on the ground that It's in
creased supply would lower the value
of bonds and other evidences of indebt5
edness, and that the creditor clasH
ought to be able to compel the taXpay-
ers and debtors to pay in silver. This
agitation succeeded SO far that, in 1857
Prussia and Austria made silver the
national money"
l had never heard such shocking
language before, in all my lite, as this
horrible statement of an attempt to de-
stroy gold moneyi! Could it be pos-
sible that any n had ever even thought
of such a wicked actii! The more |
thought of it, the more excited | be-
camel! My breathing became irregu-
lar and spasmodic. 1t seemed as if a
large ball were rising in my throat and
strangling me. felt as if l must, at
the same time, scream, cry and throw
my arms.and legs wildly about. real
lied that | twas falling into what the
old nurses call a conniption fit.
Fortunately, the silver man saw my
danger, and he at once seized me in his
arms, carried me out on the porch, and
gently placed me in a chair. The fresh
air revived me. Thereupon the silver
nan telephoned for a carriage and sent
me home.
But l am now tired and must defer
further account of my search for the
nature of value.
AN OLD BANKER.