The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1892-05-21
SATURDAY., MAY 81, 1902.


which WIS inhrrent-was inside. or
intrinsic value. Please also state how
this value became lost, ana what
became of il. If it were lost, ! should
like to know whether any one found il. ;,
These questions utterly confused me.
| saw that | had got myself into n
false and huihiliating position. A lit
tie creek OF cold sweat ran down my
back. | saw it was no use TO say that
legislation had caused silver to lose a
part of its intrinsic value, because |
had started out with doctrine that leg
iSlatiOn could not effect intrinsic value.
| could not think of any other expla-
nation, because | had assumed that
intrinsic value was entirely unaffected
by circumstances. SO | sat and
thought and sweated. And the more |
tried to see out of my ~predicament, the
more | sweated.
Finally | said, / am unable to answer
these questions. If you can tell me
what has become of n portion of the
intrinsic value once possessed by II
silver dollar | wish you would do so.
Whereupon my opponent replied:
''That is just rs easy as rolling off n
log. The silver dollar has not lost
any intrinsic value, for the simple rea-
son that it nevor had any"
/ had expected my antagonist to say
that the decentralization of silver had
taken away part of its intrinsic value
by diminishing the demand for that
metal, and that free coinage would
restore the intrinsic value which had
been her lost. l expressed my aston
ishment and asked for an explain alton.
Thereupon the silver man said: ga
short time ago there wore n considerable
number of learned astronomers in the
world who knew very little about
astronomy, because they supposed the
earth was flat and the sun moved
around it. They had piled theory up
OH theory without ever examining their
primary assumptions. As soon as the
actual facts became known, their So
called science tumbled down in the
mud. We have now many Learned
financiers' who are i'm n condition SIM
liar TO that of the eminent astronomers.
They have never studied determination
OF sound finance; to wit, the subject OF
value. They have based their theo-
ries on the assumption that gold and
silver possess an intrinsic value, when
the actual truth is that neither of these
metals ever possessed it; for the plain
reason that there is no such thing rs
intrinsic value in existence, never has
been, and never will be. AS an newt.
able sequence of stating from false pre-.
misses, these Learned financiers' have
stumbled and CROPPED in the dark, and
found their predictions continually re.
futed by events. Meanwhile, the mass
of the people have been the uncon.
sclous victims of bad financial legisla-
ton, enacted by advice of men OF
whom the most charitable thing which
can be said is that they were profound.
ly ignorant of what they loudly pro.
fessed to fully understand. If you will
cast aside your supeEstitinns and have
the industry and the, patience requisite
for q careful consideration of this
important subject, l will take up eacf
and every point contained in YOU
financial creed, dissect it, and demon.
strate its falsity."
l then closed the interview, and
went home very tired, very much hum.
iliated, and with the cold sweat trick,
ling down my back.
AN OLD BANKER.