Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1895-06-20
FIAT MONEY SHAMS.
MR.. FRED PERRY POWERS FlNAN-
GAL CATECHlSM.

Mr.. FRED PERRY POWERS FlNAN.
GAL CATECHISM.
The Malaria Of Greenbackisn, Fiat Money
and Free silverism Dispelled-A Few
Plain Questions Plainly Answered-Foo
For the Thoughtful.
The Socratic method Of exposing hum
bugs and shams is especially adapted to
dispel the malaria Of greenbackism,
fat moneyism and free silverism con-
tinually arising from the swamps Of ig-
norance and dishonesty. That Mr.. Fred
Perry Powers has made good use Of this
method will be clear to all who read
the following questions and answers
concerning "Fiat Money and Legal Ten
der" taken from his IA Financial Cate
chism," published by the Sound Cur
rency Committee Of So William street,
New York city.
Are paper representatives Of merchan-
disc just rs good for monetary use as
merchandise itself?
They are better, because lighter and
more convenient, II every person is sure
that the promise ON them will be kept
in full and at all times.
Besides merchandise and promises to
pay merchandise is there any other kind
Of money?
Yes, fiat" money, which is piece Of
paper or other thing Of insignificant val
ne on which is stamped statement that
it is so much money.
Where does it get its name?
From the fact that fiat" means "let
there be-" and is the expression attrib-
uted tc the Creator when he made the
universe out Of nothing.
Can any human being or government
create anything?
It cannot.
Why is not Fiat" money successful?
Because, as President Lincoln said,
you can fool some people all the time
and all the people some Of the time,
but you can't fool all the people all the
time.
But why shouldn't it succeed?
Because men will not give their labor
or goods for nothing.
Couldn't people be brought to use
"fiat" money?
Reason and common sense are against
it, and experience proves that they
won't. Besides, if you were asked to fix
your wages or prices in "rallods" how
many would you charge?
Idon't know how much o "rallod" is.
WALL vv1,1ntN about thu
value Of q "rallod" as you would about
the value of q dollar If it were not q
specific quantity of something.
Can congress determine how many
yards Of cloth or bushels Of grain an
ounce Of gold or Of silver shall equal
in value?
It cannot.
What is to preventative constitution?
Not the constitution Of the United
States, but the constitution Of man.
Congress can no more regulate the rela-
tive intensities Of human desire than it
can regulate the length Of day or night.
If congress can make 25. 8 grains Of
gold dollar, can it not mako piece Of
paper Z inches by q dollar?
Yes, but that kind Of dollar would
not buy anything.
Cannot congress pass legal tender
act?
Oh, yes, if man in the past has loan
ed 81, 900 congress can say that the debt
or is discharged when he offers 1000
worthless "fiat" dollars.
Isn't that making fiat" dollars just
as good as any other kind Of dollars?
It is SO far as giving the debtor the
81. 900 that he ought to pay his creditor,
but 1t does not help man to buy food
and clothes, because the merchant will
raise his prices for awhile and finally
refuse to sell at all
What would the merchant do then?
Keep his goods till he found custom
ers who would barter their merchandise
for his.
Are not legal tender acts passed for
the benefit Of the common people?
Not much. They are passed by the
men who issue bad money to try to force
it into circulation. Good money will go
Of itself.
0lV0 Au AA1u6CIbC1OU.
When the Russian government was
using marten skins, which had value
as money in its eastern dominions, it got
short Of funds, as governments are apt
to, and 1t cut OFF the scalps Of the mar
tens and compelled the people whom it
owed for labor or material to take a
scalp for q whole skin.
By whom have cheap moneys always
been introduced?
By smart fnanciers and impecunious
kings.
What is the earliest example2
twas one Of the crimes Of Dionysius,
tyrant Of Syracuse, about 400 B. G.,
that as Aristotle says: "When he was
short Of money, he coined some tin, and
having convened an assembly he spoke
much on behalf of the new coinage, and
they passed decree, even against their
will, that each would consider what he
should take Of it as silver and not as a
baser metal"
Mention modern instance.
Emir Abdullah coined o quantity of
copper cartridges which the Egyptian
troops left when they evacuated Harar
in 1885 and ordered the brokers to ex-
change them at the rate of one silver
thaler for 81 coppers-that is, he estab-
lished a mint ratio With much denun-
citation Of the sin Of usury and Of the
crimes Of the money power" the emir
commanded the people to receive the
coppers under penalty Of fogging and
iyuDrisonmout