The farmers' union. (Memphis, Mo.) 1891-1895, 1893-01-05
THOUGHTS ON MONEY.
Good or Hard Times Exist in Proportion
as the Money Of the Country is
EXPANDED or Contacted.

Expanded or Contacted.
As blood is the vitalizing circula-
ting fluid in the human body. 50 is
money the vitalzing circulating. me
dun Of exchange in civilized cOun-
tries. Good times or hard times exist
in proportion as the money If the
country is expanded or contracted.
When money is plenty volume Of
money cxpandcd) We have good times,
and when money is scarce. volume OF
money contracted We have bard
times And hence we can lcgis!atc
prosperity OF adversely upon the PEG
pie. 4 human being cannot live
without blood, neither can civilization
exist without money \ sufficient
amount Of blood is necessary to
properly sustain the vital functions
of the human system. equally so.
sufficient amount of money is neces-
sary to properly maintain and perpet-
rate civilization.
1t may properly be asked what is
money? The theory that money has
IN intrinsic value or is Il measure of
values has long since been exploded
as being unsound and untrue. None,
| is u creature Of law The Constitution
of the United States saws that Con
yrcss has power "to coin money and
regulate the value thereof The
coming OF money is in all states the
; prerogative Of the sovereign power,
to give it power ur make it current
Any matter, whether metal. paper,
beeds, shells. etc. may he stamped
and converted into money by law.
The "rbiter OF domestic commerce
and Greater OF money is in all countries
the sOyerign's preroga,ive and mon
! Opoly. 1t is not the material that
makes money, but it is the law of
the Government stamp that makes
money. Money cannot he called a
measures Of value, hut it is used
s'mp!, AS medium Of exchange
A bushel is measure 1t is always
thirty two quarts. The value of
money changes. The amour: Of
money that will one Year buy Il
bashcl Of wheat or day of Iahoi.
will another year buy two bushels o,
wheat or two days Of labor. Some
times thousands Of dollars are paid
tor a little diamond which ia itself has
II" value. 1t appears clear t" think
ing people that the measure of values
OF things lies in persons idea an,;
not in money 4 days labor ma,
properly he made the measures. of
values. Nones is creatsire Of la
and is simply medium OF exchange
Professor Laughlin, Of Harv.r,i
University, who is regarded as Il h;gl,
:uat;rsslty on MONEY says iii his
work OF political economy. 1t is
quite evident that the name dollar
does not always have the same value
although people often th;i.a it doe,
Ne get in the habit az a,!ny name.
, without thinking what they real,
mean. The t"en,y-tlirce and twenty
two lundreths grains in gold dolla.
may I've exchanged sometimes fol
mere, sometimes for less Of the com
, mOdltieS. That is. when money fall,
! in value prices rise, when nom. rise:
in value prices fall.
The Peoples party demands NOR,
money, IL large circulating medium %
exchangr) and a cheap money, will
100 cents in every dollar, Il full legal
fLr Ill lxl. IL
private. Issued by the .enre.l govern
, ment osly. When this is ob,ainc,
tho prices Of labor and farm proiuc,
: will rise in harmony with nalura
law in political economy The gold
, bugs and money kings demand d'a
monc; and Cheap wheat, bcef>l.ai
and labor, and the people dcInan,
cheap money and dear wheat. beef
steak and labor
J, Professor Price. OF Oxford Un,vci
Z sity, says: Mones- is kimpl. Il to
/. of exchange and nothing more. |
is not u measure Of aal;,c. nor
representative OF property. 1t trans
l fcrs property con@etliess:ay from ON
z party To another as Il wagon haul
T. good, from one town to another
!, The famous Professor Frances 4
[ Walker in his work on money 81,
Gold and silver do. ovcr !on: period
undergo great Changes Of valu" an
become III u high degree deceptive !,
Il measure Of the obligation Of til
o debtor
Ii space permitted We could cit
hundreds of reliable authorities t
prove that m ,Eey is vat a measure q
values. Money is too unstable an
fuctuating in value to be made tn
e measures Of value. 1t is claimed u
D the gol'l-bng,' hired orators an
writer's that the money has bee
stable since the gold standard Wi,
:. adopted IN 1879. /. this true? I
- 1880 bnsllcll OF wheat was wort
1926. but in 1882 a hushel OF wI,e:
0 is only worth one half that amnun
e Using wheat rs measure Of vai,l
:. money has doubled in value sine
=. 1880, or liz other words, money
= double az sound now as it was i
= 1880 according to Republican an
Democrat authorities. 1t will 20
take double the amount of labor. all
S double the number Of bushels p,
n wheat to pay Il debt of 81 900 tina
!, it did twelve years ago 1t will no
take double the amount of labor an
double the bushels of wheat. TO pa
:. he taxes and interest or rent than
:. did in 1880.
/ The theory that money has an Il
transic val.e was exploded at least
lie century ago. 1t ia the Law with til
=, government stamp, aud not I'll
lie material that makes money In !.
1t countries Money does not have a