The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1893-08-25
METALLIC MONEY. .
Its Value Is Arbitrary and Artificial AT
Imparted to 1t bY Fiat OF Law.

Its Value Is Arbitrary and Artificial and
! Impaired to 1t by Fiat OF Law.
The world to-day is examining the
| question of money as never before in
its history. Why? Because intelli-
genrc, education and thinking are more
general than ever before. This intel
! ligencc recognizes few facts:
l. Gold and silver by the common
consent of mankind has in all ages
been used to represent vafues-money.
,. The quanty of each metal in n
unit of this value has been always fixed
by law-by society or government
3. This unit of value is made effect
i've by making it legal tender for all
payments.
/ That is the history and the nature of
money in metal. This legal tender
quality is made practical by receiving
what is so declared for all taxes due
the government. and by. the. govern
ment paid out in discharge of all its OBJ
legations.
But the intelligence of the age has
| found out that gold and silver are dug
out of the ground, and that the govern
ments of the world permit individuals
to own those places where they are
found thus allowing individuals. WHO
may be aliens or enemies, to- own the
money of the world.
And whatever may be the outcome of
the present situation of things, an in
telligent people will not permit such a
condition to always exist
The difference between fiat" or le-
gal value, and other values is a very
simple thing when you get at it in a
plain way. Leaving the idea of money
out of the question, gold or silver is in
demand for certain uses, and worth cx- 9
actly what that use may demand. 1t
is the same with iron, lead, copper,
marble. lumber or anything else.
So much gold and silver are mined in
the world, and so much-about half
| the gold and one-eighth the silver
goes into use''in the arts" as they term
! it. Now, if money was not made of
these metals the supply for the arts
would be double what it is and the
prices rule accordingly. But if the metal
/ is used as money-so many grainsO
making unit of value, or dollar as
we call the unit-ths money value gov
erns the price of the other half that
goes int0 use.
by the act of 1873. 1t changed the unit
! from a silver dollar to gold dollar,
! took away the power to coin silver, and
made it worth Just what its use in the
manufactures and the arts makes it.
Take away from gold this unit value
''in all payments" as the law reads, c
and gold will fall to the price its use
in the arts would fix upon it-or tho
demand for it for that purpose.
This is all there is to this whole
question of values, units, etc Gold or
! silver for manufactures and the arts is
worth SO much, as are corn and wheat
| But give them a legal value on a fixed
unit of amount, and they command
that price for the arts, or as a commod-
itv, and, in addition, measure all other
values There Is nothing to them as
money hut the fiat" Of law. All talk
outside of this is simply gab-most OF
it dishonest gabble at that What is
not dishonest is ignorance.
City Journal ..
This is one of the times in which
America needs the referendum In
| Switzerland there would be no trouble
about such a question as that of the
repeal of the Sherman law. Whatever
the legislative. body might do there
would he 30, 600 voters to sign petition
for the submission of the matter to the
people. 1t would be put to a vote and
| the people would decide it Then every
BODY would be satisfied. There would
be no chance to say that a conspiracy
of bankers had induced Legislators TO
betray their trust II the people burned
their own fingers they would be. the
sufferers They would correct the
mistake next time. and NO lasting harm
would be done-San Francisco Exam
| liner.
The free coinage of silver is de-
manded by the Omaha platform, and
its adoption would bring present relief
and temporary prosperity. The do.
monetization of both gold and silver,