The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1895-06-12

against his own money system, moi
mine. II that script had to be redeemed
in any one thing, it was not money al
all and II 1t hal been utterly worthless
1t could not be used as an argument
against my position.
Again, II p S argues that, because
Pennsylvania money huctuated as meas.
ured in English money, it was no good
might as well argue that because
American wheat and cotton 6uctuate as
measured in English money, that, there
fore, American wheat and cotton are
dishonest" and "unsound." This is on
an exact parity" with r p SIS labored
gold standard arguments (?) The Pro-
lessor is a daisy he is.
r p S gives the French assignats as an
example Of the danger and instability OF
government paper money. Why did
he not tell the truth about the assignats?
Was he ignorant OF the nature of the as
signate or did he wish to deceive his
readers 4?
The French assignates were not gouern-
ment legal tender money, such as is adj
vocated by the Peoples party. They
were REDEEMABLE currency, issued by
a revolutionary government, a govern
ment Of uncertain standing, and were
based upon coin revenues to be derived
from the sale OF the confscated estates of
priests and mobiles.
The French assignate were a re,leem-
able currency-the kind OF money which
p 5 quoted Walker in former article
to prove was good-the kind OF money
which he advocates-not the money adj
vocated by me.
Shame on an intelligent man that will
bring forward the French assignats as
an argument against the money advocat-
ed by the Peoples party.
Now as to those questions Note the
answers.
First-There is no need whatever for
any commercial value in the thing or
substance on which the money function
is stamped. All authors who teach the
truth so teach. The thing on which the
stamp is placed is az dead in its effect
upon the commercial value of the class
of objects to which it belongs as if it were
buried in the bottom Of the ocean.
Second-The stamps Of the govern
ments of the world placed upon gold
into money give it probably 95 per cent
of its value. If the demand for gold for
money purposes in the United States is
equal to II per cent of the total demand,
as it probably is, then the stamp of our
government gives to gold bullion ~ per
cent of its value.
He accuses me of being dumb on this
question, but his accusation is false.
said in my article Of January 90, that
"were gold universally demonetized by
the nations of the world-both the coin
ed and the uncoined gold would be
comparatively worthless metal, fit only
to plug decayed teeth and ornament
FOOLS" He himself is the silent party.
He never met my argument proving that
gold is useless metal. Nice fellow he,
to accuse man being dumb in regard to
his goldbug arguments?
Third-A legal tender is that by the
presentation OF which l can compel my
creditor to release me Of debt.
Fourth-Put this question in English
and l will answer it. STANDARD of
value" and ''store OF value" are pompous
phrases with which to make the ignorant
stare, but they mean nothing.
Fifth-Silyer certificates are receivable
for taxes, customs and public Dues and
for this reason and by the consent OF the
people they circulate as money.
Sixth-Certainly. Universal custom and
consent may haYe the force OF law, and
these in times past have sufIiced for the
OF medium OF exchange.
Seventh-Were the people of this or
any other nation by universal consent
(which would have the force OF law to
adopt any sign or token to perform the
Office and function of money, statute laws
creating money could be repealed and
we could still have money.
But what is the use OF asking irrele-
want questions not pertinent to the
issueP We are living in 1895, not in the
days Of Socrates, Plato, Confucius or
The Professor will find my quotation
from the Supreme in ~ Wallace, Su-
preme Court Reports.
Does he think he will be able to give
us a reply to this by July4T