The times. [volume] (Richmond, Va.) 1890-1903, 1893-10-07
HTIHE rs MONEY!
A New Plank Proposed for Popullsts' and
Pratlsts' Platforms.
% nc Edltor Of ne Tlmes:

To The Editor Of The Times:
In this era Of "Pratlsts" and Govern
mental Controlists" how would the fol-
lowing do for a platform plank, and II
not. why not?
Resolved, Astly. That whereas 1t
is universally conceded that time IS mo-
ney," and whereas the present arbi-
trary division Of time into years Of $50
days; months Of 30 and 81 days; weeks
OF days; days OF "a hours; hours of 60
minutes, and minutes Of 60 seconds. Is
the result Of the fiat Of conyentiOnalism,
which works injury 10 the masses. and
which can and should be remedied by
the fiat OF our great and growing nation;
and whereas, the reform embodied In
the following resolution will give
relief 10 those Of our countrymen,
who from untoward circumstances
have become hampered with pecuniary
obligations; by doubling the earnings OF
the day and time wage-earners, and In
sundry other ways cause much needed re-
lief, and contribute 10 the more perfect
harmonzing of time and money:
Therefore, we propose that our said
government by and through the exercise
Of its own and all-powerful 1at discard
the universally recognized laws and usa-
ges respecting the divisions Of time, and
instead thereof, recognize forty-eight
hours as one day. reckoning from
sunrise to sunrise; three days
as one week; two weeks as one month;
six months as one year. etc, etc, to the
end that all interests may be promot-
ed thereby, and the glory of our great
nation enhanced-provided, however, that
this shall not work as an ex post facto
az
other obligations now outstanding, which
will be treated under the head Of Gov
ernmental Assumption of Individual obi
cations elsewhere in this platform"
Now. seriously. is not much Of the fiat
fiddle and governmental gush as ri
diculous as the foregoing would be?
l am quite aware Of the intricacies Of
the laws Of finance, but II does seem to
me that there are certain elementary
principles that are as plain to view as
the meridian sun
Money IS sought to be represented as
measure of value, and this illustration
is so perverted that it has led to all man.
ner Of absurdities. A bushei-measure at
all times ard under all circumstances
win measure a bushe1 of anything fill
ing it's capacity, but the measured sub
stance has no permanent or fixed none
tary value and constantly varies in value
according as prices are adjusted by the
memorable law Of supply and demand.
Money is the basis or standard Of value.
Values are reckoned from this basis, or
by this standard, as time Is reckoned
from the standard Observatories. 1t is
quite as essential TO have a uniform (and.
as far as human ingenuity can contrive)
an infeXible basis or standard of none
tary value as It is essential 10 have stan
dard meridians. by which mems real estate
is surveyed, recorded, etc. Imagine a
standard Of meridians, new
surveys, new deeds. etc. This seems all
plain enough
Now. it is likewise true, that il is
to have a medium Of exchange
This must be the standard monetary
value in some tangible shape-money or
its equivalent. g., something actually
and readily convertible into money
We find. then, that the conventionalism
OF civilization has for ages recognized
as a fundamental basis of money and
its valuation a certain metal known as
gold and certain units OF valuation there
Of 1t IS useless to speculate as to the
wisdom Of this fact We must accent
facts as they exist. But our own con-
sutution recognizes silver as a money
metal! Quite true. but the Constitu-
tiou uutS tpt pFeSuppOSe TWO standards
OF monetary value, and II Is plain that
TO the extent the two metals are used
there must be a parity of intrinsic value.
and certainly the value of the baser
metal must necessarily be fixed by that
Of the finer and more precious metal.
The Constitution does not permit us
TO make money. but 10 "coin" money.
and regulate the value thereof. or
course no one denies the arbitrary power
Of the government TO fix any ratio OF
the sense that IL has the
arbitrary power 10 enact the time"
resolution, heretofore referred to- into a
law-but we would be out Of harmony
with the civilized world and infict an
incalculable injury II we permitted the
free and unlimited coinage Of silver at
a less ratio than par value OF actual.
Intrinsic merit. Quite true. An interna-
uonal conference might agree upon any
ratio and IL the respective nations en-
dorsed il, it would work all right; but
no one nation can undertake two stand !
ards OF money without catastrophe. In |
sututons grOw-are not made to order.
and the people are deiuding themselves |
when they imagine the imitation Of the |
by debased dollars OF fiat GER !
uheate Will bring us a millennium OF I