The times. [volume] (Richmond, Va.) 1890-1903, 1895-07-26
INTELLIGENT LtBOR II THE THING

A't'r+'' - - t+'+ 49, '' ~
INTELLIGENT LNBOR Il THE THING.
Mr.. Horr argued last Monday 81 the
Horr-Harvcy debate that 1t was all-im-
portant 10 laboring men that the money
in which their wages were paid was the
best money that could be had. Com
menting upon this Mr. Harvey said
MIR. Horr argues that The dear dollar
is OF more benefit to laborcrs than
cheap dollar. The terms dearer ana
cheaper. are relative terms. as compared
with YOUR property and service. If he
is right that deaFeT dollar ~ the pest
an1 the dedrer IL gets the better y Is
because his argument must De foloWei
10 its logical conclusion-then we might
md some metal In the world That IS
scarcer than gold IS, and dearer man
gold. with which a laborinc man could
purchase more than he can at present
with the gold dollar
We see nothing absurd IN the PROPOSE
ton that it may become mans interest
to discard gold as the money metal. and
adopt some other metal even scarcer and
more dear than gold. The horror such a
suggestion arouses in minds like that Of
Harvey. arises from the dense igorance
of sucn men regarding the nature Of
money and its true functions.
These men think that business consists
of the purchase and sale OF commodities
for money But this Is not fact. and
they viii always grope in the dark while
they remain the victims Of this error,
They viii never come within a continents
breadth Of understanding the case until
they learn that only a very small frac-
ton Of business is done by selling COM
modites for money. but, that the APP
parent sales they see going on every
day are really. at bottom, not sales, but
swaps and exchanges of commodities put
through the forms Of sale. Ease and
convenience in transportation and in ex-
changes OF bank credits are what these
transactions want. ail not money. When
transportation is limited and banking
facilities are narrow. then money is want
ed for the operation OF business affairs.
But when cheap and convenient Transport
tation is open to every place. and banks
have spread their net. work all over the
land. scarcely any money at all IS needed
for business.
Business is all done then, by exchang-
ing the credits that banks open on their
books. which rest upon the commodities
hat are 10 be exchanged.
The worlds transportation and banking
facilities have grown 10 such a point that
gold furnishes all the money that IS
necessary 10 business. Men are Illus
given an opportunity 10 choose whether
they viii use gold or silver IN those cases
where money has 20 be used. and where
a man has the choice wh-thcr he viii
accept gold or silver ne always takes
the gold because Of the greater con-
ven.ence in handling it. This is why Sill
yer has fallen out Of use; gold furnishes
all the money that is need led and TO man
will use silver if he can get gold.
The mines are turning out annually
such vast and increasing quantities OF
gold that 1t may very we'll happen that
gold may seriously depreciate IN value.
In that case there will be strong
tendency towards a dedrer metal. If one
can be found. The very same Influences
which have robbed silver Of Its great
functions as a money metal may very
wen. then. seriously abridse those OF gold
also, and make rs look out for metal
even doarer than gold.
AftttHtE tAfti WHICH ktft attt ttiftt >
idea that ali business is done by buying
and selling for money leads him into. IS
a vague notion occupying ms nina
that pretty much all possible wealth is
now I'm existence. and that the business
OF life consists IN endedvorng 10 get hold
Of some Of the wealth actually existing
now. This is the bottom spring that I'M
pels him TO be always on a strain for
money that he may purchase some of the
existent wealth with IL.
But the real progress OF the world does
not consist in straining after existing
wealth. but in creating new wealth The
farmer who sits down upon his land and
tells you how easy II would be for him TO
get rich Il the laws were only framed in
n way that would take money out OF
some other persons pocket and put il
into tis. is only a drone in society ana
worth less than nothing 10 IT, But the
farmer who takes piece OF poor land
and puts earnest labor into fertiiizing II,
and cuilNating IL with discretion ana
adding buildings 20 II is always creating
new wealth. and IS one OF the great army
which is advancing civilization and con-
tribuung to progress. The man who is
simply seeking TO get his hands on some
OF the wealth actually in existence la
Jay Gould is doing very little for the
progress OF the world. The man who
is really pressing progress along is the
one who is laboring with all his might
to create something where nothing existed
before. Great quantities OF money IN
circulation are OF very little consequence
10 this man. He increases his wealth,
not BY getting coined dollars into his