The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1895-02-20
Money Used In their Day and Time.
II Possessed no Intrinsic
Value,
Yet II Was Better Than Gold, Be-
cause It Bore the Requisites
Of All Money.
Stamp and Authority of Govern
ment.


EDITOR NEws.-R. p. S. has got the lover
issue" nightmare and got it bad. The
specter of "irredeemability" also seems
to be haunting him to the great danger
of destroying his intrinsic value" sup
erstition. mean no disrespect at all.
l suppose he is honest in his Ignorance.
But to come to the question at issue
r. p. S. has failed completely to meet
the arguments advanced in my last arti-
Gle showing that the value OF gold is arti-
fetal, being given it by the laws OF
nations for the free coinage of gold into
legal tender money, and want the read
ers to note this paint He dared not
touch it.
He quotes r t. Eleyas saying, ere
deemabe paper money is good" If he
means redeemable in specie, i answer
there never was, strictly speaking, dol
lar of redeemable paper money issued in
any country on earth
Again he quotes T. E. Wilson as an
/, eminent authority to prove that dollar
: ito be honest must be worth as much
without the government stamp az with
it." Wilson is not an eminent econom-
list, he was only hired man on the
New York World employed to assist in
keeping the common people eternally at
loggerheads over the tariff. Again
quoting this same free-trader, he says
"a gold dollaris honest, for no part of
its value depends on the treasury
stamp"
This is both false and absurd. Hon.
esty is human quality, virtue, and is
not applicable to money or material
things at all. And gold dollar is not
worth as much without the government
stamp as with it,
r. P. S. quotes, "Mr. R. G. Horr, an
eminent writer of New York, says, Put
gold dollar into the stone and melt
it into a nugget and it will buy as much
in this form as beiore2' Ignorance |!
Superstition l"
Right. That is just what it is-ignor-
ance and superstition. The Professor
seems to fear that even the disposition OF
the government to issue legal tender
paper money would unsettle values and
disturb the commercial relations of soci-
ty. The danger of over issues meDaces
the welfare and happiness of mankind
He thinks the people haven't got sense
enough to regulate the quantity OF
money necessary to enable them to per-
form their business transactions on an
equitable basis. He does not believe the
people capable of self-government. He
THINKS they must depend ON the chance
production OF two worthless metals from
the mines for their supplies Of money,
II this is not ignorance and superstition,
don't know what it is.
He argues that the government stamp
adds no value and takes none away
Yet he now comes out for free coinage
of silver, putting 100 cent stamp on 60
cents worth OF bullion, adding 40 cents
worth OF value TO the bullion in silver
dollar What an example Of consist
tency
This is all that is worth noticing In the
Professors last article.
desire now to put for his considers
ton and answers the following questions
Fist-What is honest money!
second-Will you please point oui
some money somewhere that is not fla
money?
Third-What Is your idea OF an homes
standard OF value2
Fourh-If there we're no gold or sill
/, yer, would people be obliged to do Nth
out money!
Fifth What is intrinsic value
Sixth--What makes the bullion In I
gold dollar worth the face value Of the
coin?
desire the Professor TO give explicit
and categorical answers to these qurs
tons. Clear and cleancut answers viii
dispel much mist and fog surrounding
his position In this debate.
] have already proven in former arti
Giles
First That money is not naiura