New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-01-04

county 1.-THE people one day. He il entitled 10
a days work in return. or IFS equivalent. He
would be entitled 10 the same if he had done the
work for an individual. l am inclined to think
that the first unit of value may have been days
work and that in all exchange Of commodities, the
original expression may have been my article
is worth 50 many days wor, than yours.
When Mr. Shernan's trench-diggcr came 10 get
his pay. tho treasurer Of - County would have
written nothing of the kind as named By him in
his parable. lie would not have written the
word dollar" He could not have written any
such word, because TO such word would have been
in existence. That word came only as a name
for some actual substance. What then. would
the County Treasurer have written? Why. SIM
ply tine truth - County owes Mr.. Hobbs
for one days work" II Mr.. Hobbs had
worked for Mr.. Jones, the paper would
have rcad-"I, Mr.. Jones, owe Mr..
ll' Ibis for one days work. In the first
case, the paper would have been signed by
the treasurer of the county; in the other case
by MIR. Jones. In no case would the groceryman
give Mr.. Hobbs any more for the one certificate
than for the other, provided he had confidence
IN the return of the days work by Mr.. Jones
when called for. In each case the value OF the
days work would have been an ideal value, 10
be agreed upon between Mr.. Hobbs and the
man DtlOIt IL COUlu Ne uScu lOT sugar dHu
-four.
But n days work is not ideal thing. If
Mr.. Sherman had ever done as many of them as
! have, he would need no argument to make him
understand that a days work is a reality. Still.
we could have used due bills, which would have
called for so many days works as money and
business could have been transacted with them.
Indeed, | not sure but that all the business
Of the worl'i is simply swapping of days work.
Let US cling to the parable We are now deal
ing with first principles, and trying TO get at
the origin of things. Men constantly working
for each other. They learned very early that
two men working together could do many things
in one day which one man conld not do III two
days So they began working for each other.
In time doubt, they came to say one article
is worth so many DAYS works another. so many.
horse was worth perhaps thirty days works
cow fifteen, sheep two, and so on If TWO
men made a trade and one man exchanged "a cow
for ten sheep, the owner of tho sheep would
have received in addition due bill for FIVE days
works" rs the Gifcrcnce in the trade. Mind you
this would all have taken place early III tho
progress Of civilization. There would be rs yet
no counties no states Difficulties however.
would soon become evident. Men would get other
men 10 work for them. and then wenld neglect
upon Some men could earn as much in one
day as others could in one, two, three, or Ten.
That couid have been obviated only by stating
rhr kind Of n DAYS work due: and then the
rrocerynan would have agreed on one price. when
taking Hohbs's days work" for digging
trench. and another price II dealing with n
man who could dress the stones and put up the
walls
just as long as men. in exchanging property, were
able to agree upon the days works IN the
property OF each, and could make the account
balance there was need OF any money In the
transaction just as long man worked
one day for his ncighbor and then the neighbor
returned the compliment by working the next
day for him no evidences OF days works due
were needed
METN. MONDY.
BIT such instance, become more and more
rare: and instances where some evidence OF work
done was needed become more and more numerous.
I'm time il was found that certain amount OF
cold or silver or a very much greater amount
Of copper iron represented days work Iha'
is: piece OF silver, containing certain amount
hv weight could be produced only by days
work precisely rs il took two days work 10
producc sheep: that TO get piece Of gold OF n Ger
tain size required len or fifteen or twenty days
work These articles in themselves represented
50 much labor They were easily handled. re- IDLY
divided and not liable 10 decay or destruction.
Then instead Of using promise 10 pay days
work re- TIE medium Of exchange, they took for
each DAYS work substance which had IN II a
DAYS work already done. Iron could have been
used but 10 move the pay for horse would
have required dray and two horses; and for
shin load of hor.es one would have needed der
ricl,s and tackc
As have stated many times. gold and silver
came 70 bc used ~ money because thcy were the
metals lcst adapted 10 that purpose. Again, pieces
NJ cold and silver soon came to b. known by
certain names. q franc, sovereign,
doubloonr q dollar These names simply
meant pieces OF metal containing fixed amounts
OF gold or silver.
Different nations haye adopted different unlts
Of value. perhaps on account of the difference
If valuc placed upon days work | know not
how that difference has occurred. But no matter
what the unit is in any country, il must always
mean q fixed amount of something tangible II
must either l~ so much labor wrapped mp III Inc
substance itself or q promise 10 pay something
which has intrinsic value. know that VII.
Sherman will reply that have ignored the value
given 10 paper money 10y making such money IL
legal icnarr for all taycs and private dues 'cr-
tainiv. because my idea is that the Government
makes money a legal tender only because II -
rood and never for the purpose OF making IL
good 40 exception can he named 10 snch leIis
latiou save in times of National danger or Nj
,ional distress
Bat. SAWS Mr. Sherman, this - County Stock
j. not only q lrgaI-'rndrr for privat" deb's nut
il is TO DE- received for taxes What does hr mean
by taxes" Taxes which are Ia be para III ho'h-
ing. or taNes which are To be paid in something
If value? If he means in something OF F"lUe'
then il j. easy 10 See how his - County stock
might bc used in place Of good money, SIMPLY
Lrcau,p the county collector viii receive IL III
MACE Of 50 much coin merchant SCRIP maze
receivable for goods, might have local circIla-
tinn al it's full face value, providing the mrrchSh'
j. known 70 be solvent, and providing the poop"
Ia. L,.s I'm .incsS believe that he VIII