The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1895-02-06

Had he figured, he would have found
that $40 6S per ounce makes 1922 grains
worth 81 000305 a little more than dol
lar.
~. II. A." seems to be entirely igno-
rant Of the meaning of "intrinsic value"
as used by economists. He makes long
argument to show that gold would lose
its value, were there no demand for it =,
and then asks, "will the Professor still
maintain that the purchasing power Of
90 % grains of gold would not be dimin-
ished? II say yes, it will be diminish
ed, then he would say, it has no intrinsic
value for an article with intrinsic value
can not lose it under any conditions.
Now this is not the meaning of the
term at ALL Intrinsic value is used in
distinction to money value. Paper,
when stamped as a legal tender, has
money value take the stamp of and it
loses its value. Gold or silver when
stamped as legal tenders, have intrinsic
value and money value also. You trade
a silver dollar to one of our citizens and
he looks at the money value trade it to
foreign citizen in foreign land and he
looks at the intrinsic, market or COM
mercial value and he will not give you
any more for it, than it is worth in the
market as commodity.
While the citizen here will give you a
dollars worth for it. III the dollar loses
all value as a commodity, it loses its
intrinsic value, hence intrinsic value is
the power of money in exchange as a
commodity, money value is the power Of
money in exchange'as money.
Money value depends upon the supply
and demand of the number Of pieces,
intrinsic value upon the supply and de-
mand OF the quantity of the article
81. II. A." will discuss the single gold
standard, this is unnecessary. | am a
bi-metalist, believing in the free coinage
Of both metals. Then it has nothing to
do with the subject we are discussing.
81. II. A." says, 81 nave stated that
money need not and does not possess
intrinsic or commercial value &c, to
prove my position Iquoted Judge Tiffany
and Henri Cermuschi and Prof. Shack
lett ignores them" What do these men
say? Tiffany says, "The currency value
is in the stamp not in the metal" Henri
Cermuschi says, at you suppose gold is
not money its value is lost" These
statements are made without any argu-
ment to support them, and to admit
them is to concede the very point at
issue. But j. II. A. says, "rhese men
are eminent authority and what they
say must be true and must be admitted"
Suppose state that Jesus Christ is an
imposter, and to support my statement
| quote Bob Ingersoll the most eminent
authority on that side OF the question in
the United States and Bob says, "Chnst
was far from being what he claimed to
be, and all this his followers claim for
him is false" 81, II. A." is compelled
to admit it according to his logic.
He says did not notice the decisions
OF the courts quoted by him. The court
merely decided that anything stamped
as money is a legal tender in payment Of
a debt, this admit.
His court did not decide nor will it
decide, that any thing stamped as money
must be taken in exchange for what we
have TO sell.
j. ii. A. asks, "Does not the Professor
know that if the government were to
issue $lO0,OO0,0OO fiat money and make
it receivable for all public dues that it
would be equal dollar for dollar with an
equal number of gold dollars" No 1.-THE
Professor" does not know this, nor does
j. II. A. or any one else
| know this, however, that congress
did issue some legal tender greenbacks
and that they did not circulate equal to
gold dollar for dollar until 1879 when
congress made them redeemable in gold.
j. III. A. quotes Christ on me and says
that He does not believe in the intrinsic
superstition.
Christ, undoubtedly taught intrinsic
value IN religion and if j. ii. AS relig-
ion is as destitute OF value as his money,
he is now aboard the lightning-express,
with through ticket in his pocket to
the lower regions, without any halts or
stop-over privileges.
j. II. AS syllogysm will not be a fall
lacy il he will honestly quote what l
said.
Let us now re capitulate. have shown
and j. IL. A. admits, when the govern
ment, issuing paper money, goes down
such money becomes worthless; but, if
its money be made of an article which
has intrinsic value as we'll as money
value, the destruction OF the government
will not effect the value of such money.
have shown and j. ii. A. admits that
when political money is issued in an
indefinite quantity it becomes worthless T;
have also shown that when the money
has intrinsic value as well as money
value, its purchasing power is not effected
by an indefinite issue.
II / can show, by the testimony OF
men who have lived where political
money was issued and who have
opportunities 10 observe the workings OF