The Mt. Sterling advocate., 1893-09-26

Money.

In course OF time the experience
the larger portion of the human rae
led men TO abandon all other commod
tiles and agree upon gold and silver a
two whose qualities rendered then
most suitable for this common medi
um. Further experience taught MAJ
that il was desirable to cut these met
ais into pieces of certain weight ant
to stamp upon them its weight. Henc'
the mark, the pound, the livre. Thes'
pieces took the generic name of coli
from the wedge-shspe of the instru
ment (cuneus-lorgne) used in stamp
ing them.
The importance of having thes,
weights accurate and certified 80 to b'
by proper authority was such that tn,
duty was generally confided to thu
sovereign, and thus we have the Span
ish real, meaning royal as well a.
exact
This right of coinage was claimed
for centuries as prerogative of the
crown, but in later times, since that
most notable doctrine of the right of B
people to govern itself and direct its
political acts according to the national
conscience, enunciated by st. Angus
tine and proclaimed by the State Cen
eral of Holland, has become q part OF
the political law Of nations, this duty
of coming has been vested in the
State; not as a prerogative, but as a
trust for the benefit of the whole peo-
pie.
AS these pieces were stamped al
Rome in the temple of Juno Moneta,
and as the Latin race was dominant in
Europe, they took the name of money,
and the operation became known in
the English tongue as minting.
Gold was the first metal used, as far
as is known, by all the various
branches of the human race. The
veriest savage could find it in the
washings OF the rivers, as the word
Guinea sufficiently indicates, and
priced it for its glitter as well as
means of purchase, without being con-
scious of the qualities which made
more advanced people esteem it as
one of the precious metals.
There are chronological museums
showing the gradual growth of its use
and importance when, and as, a tribe
emerged from primitive barbarism.
The workmanship sufficiently attests
the rudeness of that prehistoric period
''when Pan to Moses lent his pagan
horn," but to which tradition has
given the name of the Golden Age"
Silver, on the other hand, did not
come into use until those tribes had
so far advanced in civilization as to
have become miners, mechanics and
traders. For silver is seldom found
near the earth's surface, but must be
got from the rocks in which ii is i'm
bedded, by skill and tools, must be
crushed, smelted and refined.
Its use as money was due to the
commercial races Of the past, the
Ph9nicians, the Athenians, the Car
thagenians,
Odce, however, introduced into the
economy of human existence, it was
rapidly and widely utilized.
It's very denomination Of sterling is
derived from Esterling merchants,
who brought it from Eastern counties.
AS far as known, through all the
past stages. among all peoples, the two
metals held and performed more or
less in common the functions of
and where but one of them
was the recognized measure of valua-
ton, it was silver which down to the
early part of the present century was
preferred. II am reasonable" said
Front-de- -Boeut to Isaac of York; "if
silver is scant, will take gold at the
rate of a mark of gold to six pounds
of silver, rather than roast you alive"
The modern trend, national and in
ternational, Las been steadily toward
gold, and nearly all the more ad-
vanced countries have discarded silver
except in subsidiary coins, and use
gold alone as their standard with
which to measure all other valuables.
A patient and long-suffering coun-
try still looking in vain to the Senate
may say with David: "Lord make me
to know mine end. d."-Louisville Post.
The Chesapeake rnd Ohio Steam
ship CompanY's new route for COM
merce between Europe and America