The great West. [volume] (St. Paul, Minn.) 1889-18??, 1892-12-02
HINTS ON FREE COINAGE.

| HINTS ON FREE COINAGE.
Philosophy on the Unit of Value Of
Money.
Perplexing. undoubtedly. It may be
/ to many whether there should be
but one unit of value of money of a
certain substance, as gold. or units of
value of different substances as gold,
silver. nickel etc. This to have
two or more comparative units of
value, is practical and just provided
the unit values are the same and can
be made to continue So But if these
substances of unit values should fuc-
tuate IN value enough SO as to be
noteworthy. then these would be no
specific meaning to a unit and would
cause confusion. For instance say
the units of value of different SUBJ
stances gold. silver and nickel
Now. were they not kept so. having
the dollar as the unit then dollar
would have no specific value nor the
term dollar no specific meaning.
Under these conditions say gold and
! silver>should fluctuate in such a man
ner that the specified unit of silver
was equal in value to twice the speci-
fed unit of gold then dollar of
silver would be worth twice as much
as a dollar of gold; and thus cause
confusion in business and subject to
contention.
10 explain still more, we can COM
pare this one unit Of value of differ
ent substances to a unit in dry meas
ure; as the unit in dry measure
where bushel is the unit. Here is
to be seen that it matters not how
! many different kinds of substances
the bushel measure is made whether
of pine. poplar oak or hickory, just
so they are of the same size or hold
the same amount So. it matters
neither how many different kinds of
substances the unit of value is made,
provided these different units of value
would remain the same
While l think that gold and silver
would not fuctuate sufficiently to
make difference worthy of note and
practically would answer, writes
Prof A. 2. A. Straio still it would
not be as logical and staple a basis in
the end as if but one unit of value as
of gold would exist. But after the
unit of value is once established it
should remain so; for there is much
partially and injustice to change the
unit Of value in money after transact
tions have been made as there is in
changing the size of the bushel unit
of measure after transactions have
been made
However when money of intrinsic
value is not uniform in value. whether
gold or other hard money of CONNER
cial value owing to natural or other
causes 1t produces no change in the
price of commodities nor no one is
there encroached; the fiat keeps it
regulated. That is it is not the ma
terial out of which the money is made
nor the commercial value of the Far.
ticle used that regulates prices of com
modities; but it is the volume of mon
ey that regulates it. The object of
having this unit of value specified, is
to give certainty and stability in bust
ness aud insure justice in redeeming
fiat currency. Or again, the object
of having unit of value of money
specified is to ascertain it's meaning
and give basis to make calculations
in business; while the object of a uni
form volume of money is to keep the
prices regular afterwards.
may add. that by fat I mean that
which makes money of no intrinsic
value Gas treasury notes). valid and
acceptable. the same as money of in
trinsic value-a security by the ma.
ton. where the resources, the faith
and the property of the people are
pledged. National Economist.
Ashamed of Himself
Sam, can't help feeling ashamed
when l meet Peoples party men.
l can't help thinking they associate
me with the thieves in the Democratic
party. Why Sam. our majority is
far larger than it ever was, and vet
we know that thousands of men have
left our party. Just look at them all
around us. and all over the state.
and then for such an increase to come
up is outrageous.
Well, Bill it does look bad, but
then you know there is no honestv in
politics nOhow and l reckon OR men
know what is best Just suppose
now. that those cranky Peoples party
men had a got IN. They'd ruined us.
Well, don like them no better
than you do. I won't go to hear them
| speak or read their old papers, but I
do hate to affiliate and associate with
a party that is a political thief, and
| am not going to any longer. l Just
know from the returns that our fell
lows stole them out and I'm a GOING
to vote against them until thew Quit
it. believe in honest elections. I
can live as well as any of them. if
they do get in. I'm not going to be a
party to political thieving any longer.
Honesty first and party afterwards.
Bill you can't afford to leave YOUR
party. no matter what they do. You
have got young family and manv
friends and your neighbors would
drop YOU they won't visit you and
when they meet you at church or the
lodge they will treat you coldly and
you know it. You've got too much
sense to do such a th;,r NJ -