The Caucasian. (Clinton, N.C.) 188?-1913, 1895-01-03

how can any one say that c~rfain
gold coin is worth one hundred cents,
and certain silver coin is worth
forty cents! The question is peril
nent, and the only answer possible
is, TO Say. that nobody but knas.
or fool will undertake To- ascertain
the. value Of coins in that way. Valtss
is evermore a relative, and never a
all an absolute thing. Gold IL a |
commodity; silver is a commodity;
and 10 ascertain the value OF any
commodity, one must ascertain the
proportion the quantity of IT bears
to the demand for it. Thi. rul.
governs intrinsic, and all other
values. A thing for which there is
no demand at all, will have no pres
ent value; and thing which has no
present value now, will be invested
with all the attributes of value, so
soon as there begins to be demand
for it. IL the demand for it is large
and the quantity of il small, its value
will be great. II the demand for it
is small and the quantity Of it large,
it's value will be small. If the de-
mand for it iiuctuates, and the sup
ply remains steady, its value will
nuctuate. If the supply of 1t huctu
ates, and the demand for it remains
steady, it's value will fiuctuate. 1t
the supply of it, and tho demand for
it remains steady its value will re
main steady. If both the quantity
of it, and the demand for it, tiuctu-
ate, its value will huctuate-O often
violently, and with apparent capri
ciousness.
The principles, involved in the
foregoing reasoning, control and set
tie the whole philosophy of values
And we have gone INTO the subject
thus particularly; to make apparent
to every grade of capacity, how dis
, honestly they talk and reason, who
speak of one dollar as being worth
one hundred cents; and of another
dollar as being worth only forty
, cents; when it is plain, that they
5 have done nothing further to deter
81 mine the value of the dollars respect
{ lively, than to compare them, the Ont
$ with the other. To find out the re
e spective values of these dollars, tn,
( relation betwixt them and the de
\ mand for them must be ascertained
That is to say, they must be put vi
: and sold in the open market. Ant
o which ever one will command more
[ of those things which men unifOrml,
regard as desirable, that one will b.
o the more valuable. That is the tru
y test, and from that test there can b.
l. no appeal.
It "Oh," says some goldbug, "brins
y on your dollars, and let us sell then
n in the open market, and have don
with all this foolishness about sill
5. ver"
It But we reply: There is no opel
e market in which the test can be made
n The market has been tempered with
\ has been manipulated. The buyer
E have been made hostile; have bee
Y. bullied; have been bribed. Th
r market is in the hands of conspira
d tors, and cut throats. Silver ha
,e been demOnetized-has been dis
n crowned-has been degraded-ha
t; been loaded and handicapped b
s, every conceivable sort of d;scrlmlns
$ ton and restriction. Let the whit
Mt metal be restored to its ancient, an
lie rlghtful place and honOrs. Let
III stand before the law upon it's ow
N merits. Do for it only what you hav
r done fol gold; and we will hasten
Vi try conclusions, as to which is til
g, more valuable, the white or the We
he low metal.
I'd At another time we shall discus
IN the question, as to what it is, tn;
s. qualities any metal to perform IL
p. functions of money. We think v
n have shown that the current arg
It. ment against silver is thorough
tn dishonest, and that was all we star
is ed out to do at this writing.