Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-09-12
ABOUT VALUES.

ABOUT VALUES.
| Tho Dollar Should Have = Permanently
| That Is Not disturbed by Legislation
Tn, unit by which either quantity or
| value is measured, should be fixed and
/ interchangeable. The inch, foot. yard
| and rod should be the same from year
to year and from age to age. They
should neither be heightened nor
| of lumber should be in the pile when
taken down for use that was put into
it. The bolt of cloth should measure
the same yards that itdid when folded,
though it has been wrapped up for
twenty years. The farm should
| measure the same rods, feet and
inches that it did as recorded
| in the patent from the govern
| ment received by the great grand
father. The liquid measures. barrel,
| gallon, quart and pint. and the
| weights. ton. pound and ounce. must
remain the same, or endless confusion
will result in the measures of quanti-
| ties
| The dollar. the unit of value. should
have a permanency that is not dis
turbed by legislation and that no Or
l
| nature would affect. 1t should remain
| the same from age to age, that vested
funds may be safe and stable and that
| long tenures like land rentals or go
| year railroad leases may not be dis
| turbed.
| In this connection portion. at least.
OF the famous letter of John Sherman,
| dated May Is, 1867, may be quoted with
| approval. This letter was written to
| Samuel B. Rugg1es, the commissioner
| appointed by the United States to the
| monetary conference then in session in
| Paris. In this letter he strongly urges
single gold standard coin of uniform
| weight, as a unit among the nations
| represented. The franc had been sug-
| gested and the possibility of making
| the weight of our dollar conform to
| the weight of the five-franc coin in
| gold; this would slightly reduce it's
weight. On this point he says plainly:
''We will have some difficulty in adj
| justing existing contracts with the
new dollar: but as contracts are now
based upon the fiuctuating value of
| paper money, even the reduced dollar
in coin will have more purchase BILE
| value than our currency. We can
| easily ADJUST tHc EcuuCtiOu Will Tic
public creditors in the payment or con-
version of their securities, while pri-
vate creditors might be authorized to
recover upon the old standard. All
these are matters of detail. to which
hope the commission will direct their
| attention"
Money as a medium of exchange
merely represents value and conveys
~ l,rv
| value in itself. The vehicle that is
employed to convey precious goods may
be of little worth. The value lies in
! the goods conveyed The medium of
| transportation is possibly thrown
away as worthless when the goods are
| received.
| When an article is sold, note may
be given by the buyer to the seller, on
which is certified the value of the arti-
| Gle. ANY amount great or small, may
| be written in it; its power
lies in the sum which it rep
resents. The seller receiving it may
pass it. for articles he needs, to another
seller, who, in turn, may pass it to an
| other, and he to another: thus the same
note may be the medium of many ex-
changes; especially is this the case
| "n0u Gnc CTlGludl RltST VI tuS' uOtc Is
| we'll known, and known to be relia BILE
and honorable. And if every man
| were known to be unfailingly honest
| and responsible, these individual notes
| would be all the medium of exchange
| necessary. AS matter of fact very
| large portion of our business is now
| transacted in this way. The clearing
| houses are but the stated exchanging
| of the notes and checks and drafts of
individuals and corporations that were
| given for this purpose, and the pro-
posed international clearing house
will be the exchanging on colossal
scale of these representations of value
| between parties of all lands.
| 1t is very convenient, however, to
| have these notes already made out to
| represent different values. and to have
an indorser we'll known and of recog-
nized responsibility, SO that exchanges
can be made quickly, accurately and
| safely. Money is, therefore. issued by
the government representing such val
| ues, that any transactions, great or
| small, may be arranged withfacility.
| Coin is metal stamped to represent
values: the copper with which we make
| exact change is very common material,
| yet the government stamp makes one
| hundred of them represent a dollar;
| the nickel is stamped to represent one
twentieth of dollar, and silver and
| gold stamped represent. one, five. ten
or twenty dollars The material of
| which coin, as a medium of exchange,
| is made is of no Importance. 1t may
be iron. copper, nickel, silver, gold.
| aluminium or any other metal 1t is
the stamp upon the metal, as upon the
| paper, that determines the representa-
| ton of value it shall carry: just as
i truly as the date, amount and sigma
| ture Of an individuals note determine s
what it shall represent and convey.
Coins are not necessary and are not
| popular as medium of exchange.
Paper currency, such as bank
bills, silver and gold certifi-
| Gates, checks and drafts, are
| much more convenient and desira BILE.
| Money in the form of coin has it's use
| as a measure of values, but as a mediu m
of trade it might just as we'll remain
carefully and safely stored in the treas
| ury vaults.-From Rev. j. c. Elliott's
These Hard Times
BEAR THIS THIS IN MIND.
| The Value of the Silver Dollar in Mexico
! Prices of Products
| Honest voters who are keeping an