The times. [volume] (Richmond, Va.) 1890-1903, 1894-10-27

popullst. Now. Mr.. Crisp says that the
Governments fiat. or Command. can add
nfty cents Of value to a silver coin
through making IT legal tender for
dollar, and 10 this Is so why can II
not add one hundred cents value 10 one
as well as City cents value? We confess
10 total inability to give any reason anu
we are, therefore. totally unable to per-
ccive any difference whatever between
the doctrine OF Mr. Crisp in this respect
and the doctrine Of the Populists. IN
other words. Mr.. Crisp is about free com
age a Populist I'm everything but t"e
name.
The most radically false idea that ever
was entertained by any set Of men j. ''''S
idea OF the POpulists that the
Of money comes from It's chai ~ a..
legal tender. II its legal tehuei ''a"'s
has any influence at all in the par "i''o'
money plays, It Is in detrimept u i''
character Of money The iebdi 'e''l''
quality is coercivc in its nature ana 'he
entire mower Of any money 10 perform
,r,,I,. and e,ccessfully the part OF money
,,,,g, como from the fact that the person
10 vcbor, il IS offered is rs willing to re-
cci,,e II az the person Offering II Is 10 pay
f. The moment that people entitled 70 re-
celve any particular money have the
,,o-, slightest objection TO It. that money
has lost its power to perform the part OF
money. The essential sine qua non con-
5i,iou Of successful money is and must
be that the persons 10 receive 1t are as
willing TO receive II as the persons TO
pay it are TO pay It,
Understand. though, 1t Is well that the
money of a country should have the I'Gdi
tender quality. Men fan out about their
rights and obligations a thinks y owes
him 800. while y thinks the full measure
Of his debt 800. II i tenders 500 OF
legal tender money his whole Obligation
is fulfilled. II that IS all he really owes
interest on the debt ceases, and all in
furious ,..rrquences that flow out Of the
refusal Of the tender BY 4 rest upon him.
and not upon r. 1t Is necessary, there
fore, for the peace and order or society
that money shall be legal tender, IN oid'f
that men may have the means Tor bfliE-
ing disputes and controversies 10 con-
clusion. But when the legal tender quar-
ity has perform ed that part In money II
has done all for money that 1t can use
fully do. II a Government arbitrarily
makes a. thing legal tender for dollar
which is not really a dollar, 1t VIII
thereby give a debtor power 10 force MS
creditor 10 receive the thing In payment
Of the debt The debtor will have relieved
himself Of that debt. j; is true, but he VIII
never be able TO get in debt again. HIS
credit viii be gone. All debtors VIII ne
able to free themselves from debt WIN
the spurious dollars, but as soon as eKlSt-
ing debts are paid there will be no use
whatever for the spurious dollars, except
according 10 what they are really worth
IN themselves. In the contracts that men
thereafter make they will expressly Sup
ulate that they are not 10 be pald IN
the spurious dollars, or, If 50, that they
are to bc received TO the extent Of their
true value only This is the fixed and
immutablc law Of trade respecting money
that is oyer-yalued by law, and MI 'rlSP
and his Populist allies must be able 10
reverse all the tendencies and impulses
Of human nature before they can make
their legal tender operate to @ny Iur'n-
or extent or in any other way.