The midland journal. (Rising Sun, Md.) 1885-1947, 1895-01-25
Legal Tender.

TALLY for gold money and to discredit
and deny the nature and functions Of
legal tender money. Had the writer laid
his MS. away for a week and considered
it carefully, we feel quite sure it never
would have been published without ma.
terial alterations. Why the writer should
ignore history and custom in attempting
to prove gold was singled OUT as the
medium of exchange" is something
remarkable. He says:
''Bv the consensus of minds gold was
the article singled out. By its value
thenceforth other values were measured,
and it became the medium Of exchange"
The facts are entirely against this
Silver has been used hundred times
more for this purpose than gold. AS be.
tween the two precious metals" silver
was the first to be used as money. When
Abraham bought burial place he paid
for it with silver. And it was silver
"current with the merchant )" clear
evidence that silver was the money well
established as the money of the people
to whom Abraham sold his cattle. Gold
is not mentioned except for ornamental
purposes. And silver is the money of the
people to-day as it was then and con-
tinued to be down through all the ages.
To day it is the useful money of all
Asiatic countries, and of all countries. It
is the retail money of trade and the wage
paying money, both in the countries
where it is the primary money and in
those which have demonetized it as
primary Silver is at present everywhere
effecting hundred exchanges where gold
effects one.
We are at loss to conceive why the
People should attempt so impossible a
thing as to set up snch a claim for gold.
The writer goes on in this blind way and
says:
'"They Coins trace their names to that
age that superseded barter, and that was
itself superseded by 'Money'-to the age
when precious metals were singled out as
the standard of value and the medium Of
exchange, and when they had to be
weighed at each exchanged. Then and
not until then did money appear on the
stage of history, and it was in that aud Tic
other way that it appeared. Money, &C
| cordingly, is not the fiat of Government. .
The very names referred to contradict
this statement. Shells, beads, leather
bark Ia kind of paper, and numberles:
things were used as money and "fat
money long before this period, or elst
history must be denied. The highes
civilized nations used brass, tin, ETC., fo
money, and all of these things of little
value were fiat" money, either by Law
of the higher civilized nations or peoples
or by common consent among the tribes
The argument the People sets up, TO
what purpose is not clear, is full of sucl
crudities, that every we'll informed person
on the history of money will smile at it
Following up this line of assumption tn
writer continues:
although the dropping of the system
of barter proper freed private exchang
from intoierable trammels, vet the systei,
that followed whereby gold was singled
the value of which the value of all othe
articles was to be measured" etc, etc.
"Still harping on my daughter" N
such thing ever did occur. With thes
citations the reader will be prepared t
measure the value" of the Peoples al
gument against the "fat" principle il
money.
The point the People contends for a
near as we can make it out is, that gol
has natural value and by that natura
value the value of all other things can be
and actually is, determined. This is tn
deception practiced by the regular bunc
steering gold bugs, the capitalist" O
capitalists the People is fighting S,
against. The MIDLAND JOURNAL illus
trated the power of legal tender and tn
medium of exchange function givel
money by law by the sale of package o
goods, passing from the seller created
debtor and creditor, created debt which
could only be Cancelled by the use of lega
tender money if the creditor refused to b,
satisfied, The People fatty denies thi
and says:
1T is false to say the seller in thi
instance must accept; it is false that, il
4 al <~fo
| bearing the government stamp of the
value of the goods is legal tender ant
compels acceptance"
After long and curious dissertation tc
establish this assumption the writer come,
to the conclusion which is this:
'If the purchaser in the illustration O
the Midland Journal left the legal tender
on the counter after it was refused, ant
tried to walk off with the parcel the
storekeeper would not be liable for assault
if he tried to knock the fellow down &c
recover his property, aud he could have
him arrested for theft"
Here are couple of actions for til,
court. Let us go to the judge and i'll
quire of him.
The merchant is plaintiff and sues the
other fellow who bought the goods fol
theft, The first question the Judge ask.
is, What is your business Mr.. Plaintiff? p
Plaintiff-"A merchant"
Judge-'You sell goods to people fol
cash ?"
Plaintiff-"Yes SIR
Judge-"fhe defendant bought a bill
| of goods from you9i