Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1896-09-03
LEGAL TENDER COW MONEY

Editor The Gazette: The sugges-
tion made not long since that legal ten
der certificates secured upon whisky and
cows might improve by age and thus be
better than silver, coupled with sugges-
ton of egg certificates in place of cents, has \
received the full consideration which il
deserves. Several important suggestions,
however, have led me to give up n part of
the plan so as 10 retain the COW only as
the single unit or standard of value.
IL is held that the whisky certificates
might be subject to too rapid contraction
which would lead TO unsteadiness when
they were presented for liquidation in
money of ultimate redemption, namely,
whisky. 1t is true that when first issued
there would be little call for liquidation
In raw whisky, but as time went on the
contraction would surely follow and that
would deprive the masses of the people
both of money and of whisky alike.
Objection has been taken TO the egg
certificates for small change. 1t is true
that this objection comes only from those
who do not vet fully comprehend the fun
damental principle lately so fully presen-
ted by Mr.. Bryan, namely, that if the
government creates use by law of legal
tender for any medium of exchange the en-
suing demand will at once fix the value of
that material without regard to its quality
or to cost of production. He has only eluci-
dated this principle in respect to silver,
but ii is manifest that ii applies to all
substances that have ever been made use
of for money. do not know that eggs
have ever been legally adopted. but every
one is aware that whenever the mistress
of hen yard requires a few goods at the
shop she is certain that eggs will be ac-
cepted in exchange.
Ii is. however. held by the DIRECTORS to
egg certificates that while there are many
| persons who do not know the difference
between good money and bad money, al
most every one can tell the difference
between good egg and a bad egg; but
they say that some might be deceived and
that when the certificates were presented
| for money of ultimate redemption some
people might be served with bad eggs. l
| confess that this objection to egg certifi-
| Gates is fatal although | do not see why
/ it is not equally rs fatal when it Is APP
piled to bad dollars made of silver at a
cost of fifty cents each or thereabout
| But when we revert to the true pre-
| histofIc-tnit of value, the COW, none of
these objections can be maintained. Nay,
even the common rule that one cannot eat
his cake and have il too fails in its appli-
cation TO cow money. We can have all
the COW money of full legal tender that
we need and yet cat all the edible part
whenever we want beef. This fact goes
TO prove how providential the selection
of cows for monetary purposes must have
been, and we have been deprived for ages
of that great advantage by the crime
which was committed when cows were
demonetized.
There is one great body of men who
have resisted the introduction of metallic
money and who still possess the full adj
vantage of cow money-the Zulus. the
Kafiirs and the other more intelligent col
ored races of South Africa still possess that
great advantage over ourselves The price
of wife among these intelligent people
at the last quotation was ten cows, othei
household implements in proportion.
The great advantage of cow money il
this country would he the ready adapta
ton of demand to supply and of suppl,
: to demand This would render it i'm
possible for any bankers or other nefar
ious persons to corner the cows and hol,
them out of circulation.
There is another advantage over whisk.
and eggs. Neither of the latter substance
could be coined but cows can be coined +
any extent. The coinage of metal i
worked by heating the metal and MAXIM
! ii with cold stamp-"One Dollar, lega
tender for all dues" The only difference
!. would he one of method. We should hea
the stamp and mark the cold cow-"On
. Cow, legal tender for I'LL dues"
, 1t is the province of the government
= under the Constitution to coin money an
!, To fix the value thereof. and having thu
, coined COW money and fixed the value W
. should only need to amend the existin
;. laws for collecting duties and taxes b
substituting the words COINED cows" fo
:, "coincd dollars"
, The paramount advantage of COZ
T., money would be as have said, that W
"A could have our COW money and eat it to,
a How singular II is that this advantae
n had not been discovered ages ago. TIL
n original money consisted of bulls. oxel
N cows, heifers and calves. Bulls would
* expected under the legal tender act fc
4, two good reasons First. in order to kee
ii up the supply of calves and, second, b
10 cause while one can cat bull beef it is n,
n desirable
IS The secret which has lately been di
closed by Mr.. Bryan and his supporter
ID is that what the law declares to be lawf
10 money is money. for all debt paying pow,
~ and monetary force. Now we cannot CT
he the COW hide if we eat the beef, and Il
coinage stamp will have been impresst
lie upon the hide. The hide would therefor
retain its full lawful value. OF cour
at the act for the coinage of cow mont
would provide that there should he bt
a one stamp on each cow. Then would e
v, sue another and great advantage of co
II, money. No part of the hide would
he needed for monetary purposes except TIL
which carried the stamp. Therefore v
We could not only eat the beef but we cou
m use the greater part of the hide for sh
ny leather and yet have all our money lie
nd full of the monetary force of law f
DO circulation and sufficient for all our pll
go poses.
On In that, again, we have an example
tn China. The Chinese used to make bron
Ell or hardened copper knives which tn,
used for monetary purposes, but VIII
is they found that while they needed We
list large per capita circulation of money TIL
re did not need so many knives, they left {
ny the blades and thus We're enabled to ma
ever so many more round handles with
square hole in the middle, and that xii
of money now serves the purposes of Il
great mass of the people of China. Giro
lating as money. paying debts and wor