The Meeker herald. [volume] (Meeker, Colo.) 1885-current, 1895-06-08
THE HONEST DOLLAR.
1T CONTAINS 412 10 cpA,ue
OF STANDARD SILVER
1ns Gold Dollar Is the pisbona., nj
because Its Purchasing Power I,
increased by the Manipulat,on. -.
Bankers and Their Allies.

An tne chicago Daily Record OF Nav
~ EDWARD Atkinson repeats the def,ni-
uon OF honest money given in his ar
ticie OF April &c: Coins which heine
.heiteu down, retain the entire value
iof which they were legal tender be-
loie tney were melted" With this def
nition as foundation he builds I'D an
argument against the free coinage NJ
siiver' calling it dishonest money"
anu as such to be rejected as coin
metal. vim
IN another paragraph of the same ar
ticie ne admits or states fact which
upsets mis- own conclusions by verifying
principle which he ignores in his ar.
gument.
ne states that the silver coinage of
india possessed bullion value eouiya-
lent to the value of the coins them
selves until the closing of the minte
After the closing of the minis the rupee
"nile not redeemable in gold as is our
slVer money, yet as bearing the stamp
Vi government and made legal tender
1or tine payment of debts had a greater
'aiue than the equivalent weight of I'M
coined silver. On the same principle
closing the mints of the world to gold
would cause the coined gold made legal
tender Tor the payment of obligations
10 nave greater value than an eauiya-
lent weight of gold bullion. His defini-
lion oil unsoundness applies to all coin
money. for all money metals depend
ior part Of their value on their use
Tor coinage purposes, and while of in
trlnsic value for use in the arts lose a
part OF their value as compared with
other products when made the object
OF unfavorable legislation which limits
or stops their coinage.
A sound dollar should represent
certain amount of labor and be capable
OF ready transformation into any prod
uct of labor. The rule is the world over
that what costs little labor to get is
worth little. Blue sky may be quite
desirable, but as product entirely OF
natural conditions and not of labor it
ID not counted as having material value.
When promoter by artful persuasion
succeeds in getting money for some
H-S ~ 'oiue cASppt Ill lue
ihihu oi the credulous purchaser he Is
said to have been selling blue sky"
The value OF any commodity when car
ried to its final analysis is the value
VI tue lapor expended 10 secure the por-
ton OF the required supply which is
produced under the least favorable con-
ditions.
Disregardihg the speculative element
III mining winch luStlhes greater ex-
penoitures In prospecting and develop
ment thah are sure TO De realized In
prohts' the average value OF silver or
eolu IL measured by the TABOR expended
In WORKING the least productive deposits
anu reuuclhg the poorest grade OF ores
necessary 10 supply the worlds de-
mand.
coined money mas an intrinsic value
which makes II universally acceptable,
because when melted up and used In
the arts II releases to other occupa-
lions labor which must otherwise be
expended In mining an equivalent
amount OF metal Tor such use.
II the labor cost OF producing the
metals remained the same, Whatever
the demand for them, II, In other words,
the precious metals were merely prod
uct OF labor, and not natural product,
occurring in small and Isolated guam
titles, an Increased demand for any one
metal would bring about such an In
creased production az would in a short
time restore the equilibrium OF values.
A corner in money would be like cor
ner in wheat-only maintainable for
short time. An Increased demand for
any precious metal causes the deposits
OF that metal to be worked more closely
and greater amount of labor expended
in proportion to the product, SO that the
labor cost of the most expensive por-
ton is greater and the value OF the en-
tire product correspondingly increased.
When the amount OF actual or re-
demptlon money In the channels of
trade fails to increase as RAPIDLY as the