The Monticellonian., 1895-09-20
ABOUT VALUES
The Dollar Should Have a Permanenoy That Is Not Disturbed by Legislation.

1 value is measured, should be fixed and unchangeable. The inch, foot, yard and rod should be the same from year to year and from age to age. They should neither be heightened nor shortened. The same number of feet of lumber should be in the pile when taken down for use that was put into it The bolt of cloth should measure the same yards that 1t did when folded, though 1t has been wrapped up for twenty years. The farm should measure the same rods, feet and inches that it did as recorded in the patent from the govern ment received by the great grand father. The liquid measures, barrel, gallon, quart and pint. and the weights, ton, pound and ounce, must remain the same, or endless confusion will result in the measures of quanti- ties.
 The dollar, the unit of value, should have q permanency that is not dis turbed by legislation and that no or dinary variation in the production of nature would affect. It should remain the same from age to age, that vested funds may be safe and stable and that long tenures like land rentals or 99- year railroad leases may not be dis turbed.
 In this connection a portion, at least, of the famous letter of John sherman, dated May IS, 1867, may be quoted with approval. This letter was written to Samuel B. Ruggles, the commissioner appointed by the United States to the monetary conference then in session in Paris. In this letter he strongly urges 6 single gold standard coin of uniform weight, as unit among the nations represented. The franc had been sug- gested and the possibility of making the weight of our dollar conform to the weight of the fye-franc coin in gold; this would slightly reduce it's weight. On this point he says plainly: s'We will have some difficulty in ad jasting existing contracts with the new dollar; but as contracts are now based upon the fluctuating value of paper money, even the reduced dollar in coin will have more purchasable value than our currency. We can easily adjust the reduction with the public creditors in the payment or con- version of their securities. while pri vste creditors might be authorized to recover upon the old standard All these are matters of detail to which l hope the commission will direct their attention
 Money as a medium of exchange merely represents value and conveys that representation. It need not have value in itself The vehicle that is employed to convey precious goods may be of little worth. The value lies in the goods conveyed. The medium of transportation is possibly thrown away as worthless when the goods are received.
 When an article is sold. a note may be given by the buyer to the seller, on which Is certified the value of the arti- ele. Any amount great or small, may be written in it; its power lies in the sum which it rep resents. The seller receiving it may pass 1t, for articles he needs, to another seller who, in turn, may pass it to an. other. and he to another; thus the same note may be the medium of many ex- changes; especially is this the case when the original giver of the note is well known, and known to be reliabl and honorable. And if every man were known to be unfailingly honest and responsible. these individual notes would be all the medium of exchange necessary As matter of fact a very large portion of our business is now transacted in this way The clearing houses are but the stated exchanging of the notes and checks and drafts of individuals and corporations that were given for this purpose, and the pro- posed international clearing house will be the exchanging on colossal scale of these presentations of value between parties of all lands.
 It is very convenient, however, to have these notes already made out to represent different values, and to have an indorser we'll known and of recog- nized responsibility, so that exchanges can be made quickly, accurately and safely. Money is, therefore, issued by the government representing such val ues, that any transactions, great or small, may be arranged withfacility.
 Coin is metal stamped to represent values; the copper with which we make exact change is very common material, yet the government stamp makes one hundred of them represent a dollar; the nickel is stamped to represent one- twentieth of dollar, and silver and gold stamped represent. one, five, ten or twenty dollars. The material of which coin, as a medium of exchange, is made is of no importance. 1t may be iron, copper, nickel, silver, gold, aluminium or any other metal It is the stamp upon the metal as upon the paper, that determines the representa- tion of value it shall carry; just as truly as the date, amount and sigma ture of an individuals note determines what it shall represent and convey Coins are not necessary and are not popular as medium of exchange Paper currency, such as bank bills, silver and gold certif- eates, checks and drafts, are much more convenient and desirable.
 Money in the form of coin has its use as measure of values, but as a medium of trade it might just as well remain carefully and safely stored in the treas ury ults.-From Rev. J. C. Elliott's "These Hard Times. "
 BEAR THIS THIS IN MIND. The Value of the Silver Dollar in Mexico
 Prices of Products.
 Honest voters who are keeping an