New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-17
BUSHELS OF JASMINE
Used Each Year for
C0lgate's s ssaSs ase

tutes through which the scanty stock Of the pre-,
the heroic treatment Of rising prices TO enable so;
cety to relight and upft the almost extnguisned
iSlrR Ages WERE caused by decreasing and
falling prices and that the Wbch o6wed the dis
coverv OF America were due to an increasing sun sun
not seem surprising unreasonable when the noble
functions or money are cohsiue'eN ~" '""0 way
MR. HORR RETORTS
Mr. Horr-I desire to state that my friend has
spent his whole time answering something ina, l
never mentioned said anything about mercy
called his attention to the use OF the passage Oh
Scripture, which he has now fully explained by say
that ' the word Which babs really
means honest, disinterested persons; anu men III. ~
American people. 1t may be that that is some ex;
cuse for the OF such motto as that II seileu
/ DO not desIse to crIticise him for that but do
de- re ,s say him that h. that m %dc it, a
motto intended to illustrate the fact mat ooy'
an Hea m ss bcek ms soSd the ere
between right and wrong. and would be among the
him that ie that motto doss not give privilege for
boy because he Is In knee breechcs 10 STOP ls,nc
the truth 1t does not give the boy any right 10
msrepresent facts m 49,. $500, an,
to the body Of the book is this: "Al money is a
medium OF exchange. but primary money only Is
sto in'"f would ike Mr. Harvey to tell me in
word What he means by primary m nor oo WAT
kind Of money Is primary money? Am i eh''''eu
! Mr. Harvey-when you have finished and sat
| down. Mr.. Horn. will 20 ahead.
WHAT is PRIMARY MONEY?
Mr. Horr-I submit that question so simple as
| that which is at the basis OF this question should
be answered readily. will sit down and let you
| answer II.
| Mr. Harvey-The question asked is a part OF the
main argument in the book, and II would be o oui
OF place for me to this question now; r ana
ment outlined by the book. E.. u..,,,r worry
Mr. Horr have not succeeded in Ee.nsd him HIM
in his previous remarks when he laid down the po-
scns he was going to OCCUPY he fS of primary
money s@S' submit 70 the Teporiers hat ne soa
the explanation II am right then t. is rehemP,
th l,' fact that the statement Itself is not true
s that 0n Sf But the Srs sa0m money sam
zion move only Is not s~@ n1 do oe BUSINESS for
Years ana the measure OF value that we use Is
rsdemPoSn a. all from ss 20 s de-
preciated in value. and yet we used those prom
.ses as the measure OF the yaues n T the term
| that people by common use come to understand
rn meaning Of Vaaes from ss to 1879 in the
| United States the greenbaek dollar, I mat
m monei w Sas|s paper doar promise to
time pay real dollar and 1t depreca'ea IN w na1Y
forty cents on the dollar sometimes it was worth
| eighty. and when we got up toward redeemng II
| I'm good straight, honest money. then IL came 10
be worth just about the same as gold al tna cay cay
Mat i is money? Every writer that familiar
with admits that originally money was n,""ys -
| necessity be So Amos, every article in the world
has from time TO time been used as money neen
| were not the first money. Originally copper was
more universally used as money than either 6n OF
| we have been going from money that Is cum
dSn, that ha prsh money be isa' QUALIFY
| OF money since the foundation of the globe
HIS DEFINITION OF MONEY.
| Mr. Harvey-Money is a medium OF exchange and
| a measure OF values. AS a measure OF values I
| is thing representing value. When we express
| price. We have reference to the unit Of value or
its equivalent with>gold and silver in existence as
| primary money there is double the quantity Of
| money real money there is when gold only IS
| in existence as primary money. Money Is also
| What is meant by that Is this: Instead of ex-
exchsnge it FOR money. and money being by law
and usage a common medium Of exchange We are
We exehange properly for money and 70" 'nen
s yces nednrsad se of
| must consider the conditions that would exist u
barter and exchonge-of one kind OF property for
another. The OF to-day do not understand
If they did We would not be engaged in this dis
cIssion Under this last head comes the question
| ment all or part OF 1t should be issued by pri-
| corporations.
money the fact that II is the organic fluid Of
| ciety. should make 1t solely creation OF the Gov
laws because 1t is a matter affecting society. Moth
| ing is so intimately connected with the organization
inanciers who advocate that it should be the crea-
ton OF private parties and corporations and be
It should become fixed principle with US tha,
y Should I" b s'' sed upon
principles by which every dollar is as good as every
All money should be a legal tender in the pay
ment OF al debts and no act Of discrimination or
| one should be permitted. Q-ong and continued ap-
\ plause)
| LEGAL-TENDER LAWS AND THEIR OBJECT
Mr.. Horr-There is quite large portion Of that
essay that is true. Indeed think there is more
truth in that simple short statement than can be
found in the whole Of Coins School" 1t is true
| that money is the life bood OF commerce and Of
| business. II is not true that money can exist
only when IT is created by law. Money was In use
and well M long before a there o wsre
be made legal tender to make Il good money even
legal tender laws are never needed except to make
somebody take some money that is poor No one ever
somebody to take the best money in existence.
People VIII take what is best whenever they can
to make them do 1t. you know. Indeed. you may
directions as to money. and the people viii 20
rishi along and use he common rules Of bus S.
That has been the history Of The world-legal-
tender issues FOR the sake of adjusting disputed
counts. But legai-tender laws. except in the times
OF National calamity are never needed to enforce
day. in the United States. as remember. about
half and half Of our money. one dollar just good
as the other and yet the half OF II Is not legal
tender at all. National bank note IL not legal
tender for debts or anything. All the silver GER
tihcates are not egal-ender. not one Of them: and
yet they are taken as readily as any OF the money.
| why? Because the folks want them they have
idence IN them. they know they are good, and whes
| party believes thing IL good. you don't have to
force him TO take It. Don't forget that SO that.
as rule. legal-tender Is always resorted 10 In
emergencies when you want to compel somebody
10 take something that he really would like to
| take and would prefer something else in place OF
| mat " you won't let him receive the other. That
Is the history of legal-tender.
Now, ] don't dispute the fact that the Govern
ment should regulate money. I not. for the
L La ohaAo