Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1895-07-05
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MONEY CATECHISM.
Some Questions and Answers That are OF
Interest just Now.

Some Questions and Answers That are OF
Interest just Now.
Mr.. R. r. Wheeler asks The Sun to
answer the following questions. The
answers are given with the questions.
What is meant by credit money?
Ans. Promises to pay, such as bank
notes. greenbacks, checks, etc.
Token Money? Ans. Coins-de-
signed for small change-not intrin-
sically worth their face value, but re-
ceived for their face value because ex-
changeable with standard coin.
Free Coinage? Ans. Coinage free
of charge, at the option of owners of
bullion. IN politics il means the free
coinage of silver into legal tender
dollars at the ratio of 16 to l, while the
market ratio is 80 to /.
Ratio 16 to 4? Ans. Formerly 16
ounces of silver would buy ounce of
gold. Now over 80 ounces are requir-
ed, silver having fallen in price.
Primary money? Money in which
other so-called money is redeemed, and
upon which various forms of money
are ultimately dependent for their
value.
Is silver money? Ans. Any sub
stance of intrinsic value which by GUS
tom is used as a medium of exchange is
money. Silver at its market value is
such a substance.
Is gold money? Ans. Gold in a
form indicative of its weight and fine
ness, is money.
Are banknotes money? Banknotes
are not money, but promises to pay.
What does "demonetize" mean :?
Ans. To deprive something by law of
the quality of money. 1t is an imagi-
nary act, since real money is not de-
penden6 upon law for its value.
"Remonetize ?" Ans. To reverse a
law by which it is imagined that some
thing is demonetized.
"Fifty cents dollar ?" Ans. A coin
stamped to indicate that it is worth 100
cents, but worth intrinsically but so
cents.
"Bimetallism ?" Ans. A theory
that two metals can be used as stand
ard of value, the unit of one being kept
by law at the same value as the unit
of the other.
"International bimetalism ?" Ans.
The theory that bimetallism is imprac-
ticable if undertaken by a single ma
ton; but practicable if undertaken in
concert by all the chief commercial
nations.
"Gold standard ?" Ans. TO have
gold coin of a certain weight by COM
parison with which all other forms of
money have their value measured is to
have the gold standard. The United
States has this standard.
"Sound money ?" Ans. Money, each
dollar of which will bring 100 cents in
gold.
"Monometallist ?" Ans. A man who
wants one metal only used as money.
Sixteen-to-one free coinage men are
said to be monometallists in effect be-
cause they wish to coin so cents worth
of silver into so-called dollars which
shall be legal tender for 100 cents,
with the result of driving gold out of
use in this country to those countries
where a dollar in gold will buy 100
cents worth Of silver.
money unit ?" Ans. The coin used
as a unit in business transactions, as
the dollar, mark or franc.
"Present ratio of silver to gold ?'
Ans. The present ratio is about 32 to
/; that is to say, an ounce of gold
will buy about 80 ounces of silver.
"Gold monometalism ?" Ans. One
who wants gold alone used as money.
The term is often misapplied to any
one who favors the maintenance of
the present monetary system of the
United States, France or England, in
which the value Of all kinds of money
is fixed by reference to the gold unit
of yalue.-Baltimore Sun.