The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1895-04-03

My friend lie not satisfied with my
answer TO his sixth question, "What
makes the bullion in gold dollar worth
the face value Of the coin?"
The bullion in gold dollar has utility
and since it costs labor to procure it,
value therefore arises. The amount OF
its value is measured by the quantity OF
goods for which it will exchange, and
since the coin will exchange for the
same quantity, it, therefore, follows that
they have the same value.
j II A in answer to my first question
says that the quantity Of money in any
community is regulated by law. OF
course II A is not responsible for his
ignorance OF economic questions for he
reads after writers whose works may be
purchased at the rate OF twenty volumes
for 81.
These books contain garbled extracts
from economists whose views they wholly
misrepresent, and ] II A in "re-hashing"
these shoots wide Of the mark. Francis
A. Walker whom II A considers good
authority says on the quantity of money.
I'VE have seen that the quantity OF
money required in any community, bears
no constant ratio to the population, it is
not determined by the amount of wealth
nor the amount Of production, but it is
determined by the amount Of trade, the
habits of the people, the degree in which
credit extends, the efficiency of the laws
for collection, the amount of travel, the
state Of the roads, the celebrity and GER
tainty Of the postal and telegraph SER
vices, the commercial and banking insti-
buttons, which exist, and the seasons so
that no one can say in advance what
amount of money community should
possess to do its business. "R thinks
the pRple haven't got sense enough to
attendth their own business"
Hear what Jevon says, II AS favorite
author. "The true answer to all such
complaints that no one can tell how
how much currency nation requires,
and that to attempt to regulate its guam
tity is the last thing which a statesman
should do" Again he says, eve shall
find that to as ascertain how much money
is needed by nation is a problem in
volving many unknown quantities, so
that a sure solution can never be obtain
ed"
J II A thinks he could regulate it with
out the least trouble. "Fools rush in
where angels fear to tread"
Pope says THE learned are happy
nature to explore, fools are happy that
they know no more"
j H A says "The paper in the dollar
that the Populists stand for, will, when
stamped by the government always stand
at par"
Stand at par with what aud with what
quantity? Please answer.
JHA says he has not read all the
economists.
He does not write like he had read
any OF them.
] will ask him to give all the functions
of money as laid down by any author
that he may have read, the name of the
author and the page on which they may
be found. j III A says, the gold dollar,
with the stamp, is worth 100 cents, and
leaving off the fraction .0395 which he
says is mistake, the bullion without
the stamp in gold dollar is worth 100
cents.
Will II A tell us how much value
the stamp adds to gold dollar and if
the stamp be smashed" will all value
be lost Do not evade the question.
We have given II A on his kind of
money F. A. Walker, Ely, Say, Hamil-
ton, Horr, Bagehot, and Burke all OF
whom are against him.
We will give him few more Lander
dale says in his Depreciation Proved"
page 20, "Some intrinsic value or other
must be found out to form the basis Of
paper money, for without that, it is
impossible to fix any standard for denom-
nations contained in paper"
Prof. Bowen, [Polit. Econ. page 293]
says, "If money is to measure value it
must itself possess value"
Will II A give us the page and the
work in which his quotations from Jevon
and Ricards are found also the page in
the Britannica Jevon; in his work on
money, page "a says, "In order that
money may perform some OF its functions
it is important that it be made Of sub
stance valued highly in all parts of the
world"
JHA thinks the economists are
against me. Jevon says again, page rs,
ITO avoid any chance OF ambiguity,
shall substitute the expression, metallic
value for intrinsic value, and l shall dis
tinguish this from the legal value. My
friends quotation that Jevon does not
believe in intrinsic value wholly mis-
represents his views
He either Intentionally misrepresented
Jevon or did 80 ignorantly by copying
garbled quotations from his twenty vol
umes for 81 90 library.
Jevon says, page 236, "The issue Of
paper money has often been recon-
A W0MAN'S BURDENS
ara liohfonad ,nylas, aha t.,rna IN tina RIGHT