The Beaver herald. [volume] (Beaver, O.T. [Okla.]) 1895-1923, 1895-09-05
THE THIRD DAY.

third day. Coin was also received will
marked favor, aud groups gathered a
round him as he entered the hall an,
warmly shook his hand
lie WIS assured that Chicago haC
many bime'alIists, Lut that the subjcc
had buep perplexing one to the people
IL vas regarded as an absiruse question
aud the people generally had rot tried
TO unravel il. IL required the knowl,
edge of 80 many statistics aud facts will
which the masses were not familiar
they were hardly expected to understand
IL.
Mr. Joel Bigelow, Of 2iI9 Prairie
avenue, was one of tho most deinon.
strative in cordial greeting TO the
little financier
Mr.. Bigelow is an exception to most
bimetallisis. lie had not been forced
by personal business disaster TO inquire
into the cause of so many failures. lie
il large real estate owner, owes DO
debts aud has plenty laid ty. lie is
philanthropic, He believes in the hap.
pipcss Of the people. Would that there
were more such men!
With pleasant salu,ation TO all,
Coiu moved along through the crowd
until he reached the stage, and prompt.
iy at 10 o'clock began his lecture Of the
third lay.
"The science Of money" he begon,
us MA exact science. As much 20 AS
mathematics.
The primary value Of all property is
Its exchange value. II We had no mon
ey, one kind OF property would be cx.
changed for another. Needing the
calica un the merchants shelf, you
would exchange for it bushel of pH-
ta,oes or such property as you might
have to offer. a sort of exchange value
would DO placed on all property. A
bushel OF wheat would buy about so
many pounds Of sugar, aud SO on.
This is what is meant by the ex,
change valac o: property. Money is a
medium os exchange 10 facilitate this
exchanging Of property.
lfthcrc were no money, ani we had
TO IeIend on exchanging property for
rr,perty, we could find subsistence,
but there would be no such thing as
our present civilization or anything like
it,
Ea,h merchant would have to be pre-
pared to store all kinds Of property, per,
ishable aud otherwise, lie received in
exchange for his goods. Railroads
would have to arrange to receive pays
lnent for fares and freight in property
and store it until j; again could be ex-
changed.
Ii you went to the theater you would
have to take with yea crate of cab.
bage or sowe other kind of property TO
pay your way into the play house.
Tie would be no practical method
for paying labor. Commerce would
virtually cease, aud civilization would
20 backward.
/: to be without otey would pros
duce such result, then the subject as
sumes vast importance.
As stagnatiou aud depression to bnsi>
ness incalculable would result from hav>
ing no money, then part of these evils
can be brought about by having money
insufficient in either quality or quantity.
In tho first place, it was deemed best
to select something for money which was
valuable within itself. Something that
had an exchange value, SO that he
who parted with his property for it, had
something which was itself valuable.
BY stamping it as money, and making
IL legal tender in the payment Of all
deDts, It then became money, and pos.
sessed two qualities:
First; it had value Of itself. Irthe
government went to pieces that had
stamped it, il was still valuable property
aud would have an exchange value.
Secondly; When made money, it be-
came common medium of exchange
and took the place Of barter and trade.
The stamp Of the government upon it,
became certificate of its quality aud
quantity. Thus by making commod,
ity into money We had medium of ex>
change that was both useful and val,
uaole.
SILVER AND GOLD ADOPTED.
After using many rerishabie com.
modities, experience aud wisdom brough,
the people OF the world to the use of
silver and gold.
Ii experience could suggest a COM