The advocate., 1895-07-24


mighty disasters"
now pass the book toMr. Horr CAp-
plause)
Mi. Mr.Horr--Gentlemen / desire to state
that my friend has spent his whole time
answering something that l never mem
toned or said anything about. l merely
called his attention to the use Of the pas
sage OF Scripture which he has now fully
explained by saying that the passage does
not mean what It says. My next
quotation now find still before you get to
che body of the book. 1t is this: "All
money is O. medium of exchange, but pri-
mary money only is the measure Of val
ues." / would like to have him tell us in
a word what he means by primary money.
Mr. Harvey-The question asked is a
part OF the main argument in the book, and
&c would be out Of place for me to answer
this question now, and would disturb the
logical arrangement Of the argument as
outlined by the book
MIR. Horr-I have not succeeded In get
ting very much information. If did not
misunderstood him in his previous re-
marks when he laid down the positions he
WA9 HOGnB W OOGupJ n0 AOA LlO IA bAilAC AA
those remarks gave his definition Of pri-
mary money. ! submit to the reporters
that he said primary or redemption
money" In the course Of the explanation.
II am right then it Is redemption money
which be refers to IN this motto. If that Is
awhat he means then call his attention to
aSthe fact that the statement itself is not
true.
"All money is a medium Of exchange"
It IS true that far. But primary money
only or redemption money only is not al
ways the measure of value. We some
times live and do business for years and
the measure Of value that we use is not
redemption money at all. l lived seven
teen years from 1852 to 1879 and saw the
business of this country for years all tran
Hacted In money that was not redemption
money, but every dollar Of 1t had yet to be
redeemed.
The greenbacks that we did business
with In So to 20 deprecited in value and
yet we used those promises as the measure
OF the values Of this country. The meas
ure OF value isn't so abstruse as some peO-
pie think. The measure of value in every
country Is the term that the people, by
common use, come TO understand as mean
ing certain definite thing.
What is money? Every writeS that am
familiar with admits that originally money
was always some substance that possessed
value; 1t must of necessity be so. You
could not have a yard stick that did not
have the length because the yard stick Is
TO find out the length of goods.
When we wanted something to measure
values with, hat Is, when the human fam
\ tly wanted something, they necessarily Sc
lected something that possessed somt
value. Almost every article in the woTlt
has, from time to time, been used as IN
measure Of values. Now gold ant
silver finally came to be used as none,
simply because they were the best adapte
Cor money uses Of any substance that tn
world had ever discovered. Coll
and silver we're not the first money. Orr
ginally copper was more universally use
as money than either Of these metals.
MF. Haryey-% will now defln
what is money" Money is a mediur
exchange and a measure OF value.
10 understand the Importance Of none
we must consider the conditions tina
would exist II we had no money 1t woul
then be a matter OF barter and exchange
Of one kind of property for another. Need
ing the wheat of your neighbor, you Nigh
otfsr him in exchange your horse, but nc
needing your horse he would refuse yo
his wheat You would then have to con
linpe looking for a man having wheat VIII
. wanted horse. Under thes
conditions, there being no money, com
inaFre would be sluggish II It moved at all
There would be no practical method 70
paying labor In the thousands Of indus
N tries. including type-setting. Hence ther
4 would probably be no books or newspapers