The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1894-12-19
It Is Not the Article Itself, Nor In
the Article. It May Be Gold,
Silver or Leather.
Provided II Has the Government
Stamp Upon It, II will Have
the Same Currency Value
as Gold or Silver.
MONEY IS NOT WEALTH.

EDrroR NEws:-I desire to correct an
error in r.. p. SIS last article before join
ing issue with him formally. He says,
at may be that we could discuss the
principles OF the Peoples party, for there
was not enough OF that party left after
Nov. 9th, to disagree among themselves. f"
The truth is the Peoples party is the on
ly one that made any large gains in its
vote on Nov. 6, over the vote cast for it
in 1892. The vote cast this year for the
Peoples party exceeds 100000, being a
net gain OF more than 80 per cent. The
net Republican vote has fallen off about
8 per cent, while the Democratic party
has lost nearly rs per cent. Of its vote in
49, And r P. 81 could hardly have
been ignorant OF these facts. Let me
note one other statement, r. P. S. says
it would be difficult matter to discuss
the relative merits of the Democratic
and Peoples parties, "for no man living
or dead can tell what political party
believes or teaches" don't know what
the dead can do, but give it as my de-
liberate judgment that no man living
can tell what the Democratic party be-
lieves and teaches Again r. p. s. says
The politicians will meet and declare
in favor OF Tariff for Revenue Only and
in favor OF 'bimetalism' and the Congress
elected by this party will give the coun-
try protection and the single gold stand
ard" | admire the courage Of "R. P. S."
in penuing that sentence. In that sent
ence he sums up accurately the treachery
of the Democratic party to the people.
Why, then, will he continue to affiliate
with party that he, himself, says has
violated its solemn pledges to the peo-
Pile?
Now, then, suppose the sound money
theory advocated by r.. p. s. should be
adopted by the representatives OF the
Democratic party in convention assemb-
led, Rnd that all the people should, by
reading this controversy, become con-
WINGED that ar. p. SIS" sound money
was just the thing to save the country,
what assurance would they have that
the party would give it to them after
they had voted the aforesaid party into
power?
II. P. S complains Of my rambling
and incoherenl method OF writing, that,
the discussion going on in this manner,
we both would claim the victory and no
one be convinced Now, have no de-
sire to win personal victory. But do
desire that both the principals and the
readers shall learn something from this
controversy, as 1t is problem on the
proper solution OF which the welfare Of
our country greatly depends.
Now to the question at issue; r.. P.
s. asks is j.. H. A. ready to affirm that
the fiat OF the government is all that is
sufficient to make any article good
money, regardless OF it's intrinsic or
commercial value ?" | am ready to af-
firm that money is creation of the law.
His question is not clear. The law can
not Great an article. God only has pow
er to create material things. Money is
debt paying function created by the law
OF supreme power and conferred on an
article. II is not the article itself nor in
the article. He asserts money to be
good must have a commercial value"
This proposition deny. Now the issue
is sharply drawn.
Now, to the proof quote from Judge
Tiffany's work, Power OF Congress TO
coin money, chapter II, sec. 400, page
22l;
ITO coin money and regulate its value
as an act OF sovereignty involves the
right to determine what shall be taken
and received as money; at what price or
measure II shall be taken and received
as money; at what measure or price IL
shall be taken; and what shall be its
effect when rendered in payment or sat
isiaction OF legal obligations. The act Of
COMING MONEY consists in fixing to that
which is to CONSTITUTE MONEY, the STAMP
or SEAL Of SOVEREIGN AUTHORITY, by
which il may be known and recognized
Hin market as being APPROXIMATELY en-
titled TO be received at the price or value
stamped thereon. The authority which
coins or stamps ITSELF upon the Article
can select WHAT SUBSTANCE 1T MAY DKEM
sutTABLE TO RRcEIyE THE STAMP and pass
as MoSEY; and II can affix what value il
DEEMS PROPER, INDEPENDENT Of the IN
TKNsIc VALUE of the substance up
on which i is affixed. The currency
value IL in the STAMP when used ~ mon
~. knd NOT In the METAL or MATERIAL
Independent Of the stamp"
Again See. 40l: Government. like
the Spartan law giyer, may put its stamp
upon leather and make that currency;
and so long as II can provide against the
counterleiting Of the same, and thus can
regulate the quantity In use, II can give
10 It's stamp upon leather the same value
Is II put upon gold, silver or ANY other
substance. Thus government lmay put
Is royal or sovereign siomP upon papss,