The Louisiana populist., 1896-12-04
WHAT Is REALMONEY?
WHO SHOULD ISSUE AND CON-
TROL 1T?
What Are Its Functions-How Deter
mine the Proper Amount Necessary
for Business-Prosperity and Employ
nent of Labor.

crease in, together with concentration
Of our money.
This ought to be understood by all
who are able to vote, yet, ask every
business man and every man you meet
on the streets and how varied the an
swers. In order to define as clearly
as possible what money is, We here
quote from some of the worlds best
authors, writers, and jurists on money
and currency. 1t will be we'll for you
who have not the authorities and who
wish to have references at your COM
mand, to clip them out and paste in
your Scrap book.
Money is the impression of sover-
eign authority, conveying the legal
tender of debt paying function on a
piece of metal. paper or other SUBJ
stance. Destroy that impression, melt
up the metal upon which 1t is placed,
you extinguish the money and money
value.
Money is coin stamped metal, usu-
ally gold or silver. stamped by author
ity and used as medium of commerce
-Webster's Dictionary.
Money is the medium of exchange.
What ever performs this function, does
the work, is money, no matter what 1t
is made of."-Prof Walker in Political
Economy.
Money is simply employed for bar
tering, as ship for carrying. Its ac-
tion is similar to a carts, 1t fetches
for its owner the things he is In want
professor Jevons.
THE intrinsic value of money was
the idea in the days Of crude barbar-
ism. The simplest and most perfect
form Of money is that which presents
nothing but transferable debt. such as
paper. 1t is only when states have
reached a high degree Of civilization
that they adopt this perfect form OF
money.-Rees' Encyclopedia
Whatever power there is over the
currency is vested in congress. II the
power to declare what money is not in
congress 1t is annihilated. We
repeat, money is not a substance, but
an impression of legal authority, a
printed legal decree. liz Wallace 519,
United States Supreme Court.
AN article is determined to be
money by reason of the performance
by 1t Of certain functions without re-
gard to its form or substance.-Apple-
toms Encyclopedia.
Metallic money. while acting as
coin, is identical with paper money in
respect to it's being destitute of intrin-
sic value. NORTH British Review.
Money is a tool of exchange and
nothing more. 1t is not a measure
of value, nor a standard of value, nor
a representative Of property. 1t trans
fers property conveniently from one
party to another; as a wagon hauls
goods from one place to another.
Professor Price.
Moneys are of great varieties. The
palpable characteristic which distin-
| guishes money from the numerous sub
jects tntt resemble it, but which are
not money, is its mark Of authority,
signifying that it is issued. circulated
and made payable for debts, services,
fines. taxes and commodities by virtue
of law."-Alex Delmar in Science Of
Money.
Money is a value created by law Ia
statutory law). The value Of metallic
money is created by law."-Henry
| Cornuschi.
THE legislation assumes that in
contemplation Of law, money of every
species has the value which the law
fixes on it; that congress has the con-
stitutional power to say that ten
pennyweights Of silver shall hence
forth be the dollar and do the office
heretofore done by sixteen penny
weights. four and one half grains.
| Attorney General U. s. az Wallace, U.
s. Supreme Court report, page 51s)
"The gold dollar is rot a commodity
having an intrinsic value, but money
having only a statutory value.
And every dollar has the same value
without -egard tn the material. -
The gold dollar has not intrinsic value
Money has only a statutory value
In business transactions gold
is not a commodity. but money; moth
ing more nor less. This gold has and
had a statutory value; legally each
dollar passes for one hundred cents
and legally it had no other value.
Supreme Court of Iowa. vol. 16.
There is legally no such thing al
gold or silver money. Money is the
sovereign authority impressed on thai
which is capable Of taking and retain.
ing the impression. That upon which
the stamp Is placed is called coin; the
coin may be metal, parchment OF
paper. The value is in the stamp and
not In the metal or material" Judge
Tiffany's Constitutional Law. writer
before the war.-Lantern.