Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1895-06-19
A Money Catechism.

Mr.. T. R. Wheeler asks the Sun to
answer the following questions. The
answers are given with the questions
What is meant by credit money
Ans.-Promises to pay, such as bank
notes, greenbacks, checks, dc.
Token money? Ans.-Coins-design-
ed for small change-not intrinsically
worth their face value, but received for
their face value because exchangeable
with standard coin.
Free coinage? Ans.-Coinage free OF
charge, at the option of owners of bull
lion. In politics it means the free
coinage of silver into legal tender dol
market ratio is 80 to 1.
Ratio 16 to /? Aps.-FOrmerly 1G
ounces of silver would buy / ounce of
gold. New over a2 ounces are required,
silver having fallen in price.
Primary money? AnS.-MOney in
which other SO called money is re-
deemed, and upon which various forms
Of money are ultimately dependent for
their value.
Is silver money? Ans.-Any sub
stance of intrinsic value which by
custom is used as medium of ex-
change is money. Silver at its market
value is such a substance.
Is gold money? Ans.-Gold in a
form indicative of its weight and fine
ness is money.
Are banknotes moneys Ans.-Bank-
notes are not money, but promises to
pay money.
What does ''demonetize" mean
Ans.-To deprive something by law OF
| the quality of money. 1t is an imagi-
nary act, since real money is not de-
pendent upon law for its value.
"Remonetize?" Ans-To reverse a
law by which it is imagined that some
thing is demonetized.
FIFTY cent dollar?" Ans.-A coin
stamped to indicate that it is worth
100 cents, but worth intrinsically but
so cents.
"Bimetallism?" Ans.-A theory that
two metals can be used as standard
of value, the unit of one being kept by
law at the same value as the unit of
the other.
international bimetallismY' Ans
The theory that bimetallism is i'm
practicable if undertaken by single
nation, but practicable if undertaken
in concert by all the chief commercial
nations.
Gold Standard Ans-To have a
gold coin of a certain weight by com
parison with which all other forms of
money have their value measured is to
have the gold standard. The United
States has this standard.
Sound money! Ans.-Money each
dollar of which will bring 100 cents in
gold.
"Monometaliist?" Ans.-A man who
wants one metal ouly used as money.
Sixteen to one free coinage men are
said to be monometallists in effect be-
cause they wish to coin 80 cents worth
of silver into so called dollars which
shall be legal tender for 100 cents, with
the result of driving gold cut of use in
| this country to those countries where
dollar in gold will buy 100 cents
| worth of silver.
Money unit?' Ans.-The coin used
as unit in business transactions, as
| the dollar, mark or franc.
"Present ratio of silver to gold?
Ans.-The present ratio 10 about 80 to
4; that is to say, an ounce of gold will
buy about 80 OUNCES of silver.
Gold monOmetallist?'' Ans.-One
who wants gold alone used as money.
| The term is often misapplied to any
one who favors the maintenance of the
present monetary system of the United
| States, France or England, in which
the value of all kinds of money is fixed
| by reference to the gold unit of value.
| Bait. San.