The Bryan daily eagle. (Bryan, Tex.) 1895-1898, 1896-01-07
ABOUT VALUES

Interchangeable. Inc Anchi iVob s~
and rod should be the same from year
To year and from age 10 ago. They
should neither be heightened nor
nhortened. The same number Of feet
81 lumber should be In the pile when
taken down for use that was put into
A. The bolt OF cloth should measure
the same yards that IL did when folded,
though II has been wrapped up for
twenty years The farm should
measure the same rods, feet and
inches that II 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, aust
remain the same, or endless confusion
will result In the measures OF quanti'
ties
The dollar, the unit OF value, should
have permanency that Is not dis
turbed by legislation and that no or.
binary variation In the production Of
nature would affect II should remain
the same from age 10 age, that vested
funds may be safe and stable and that
long tenures like land rentals or w.
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 H. Ruggles, the commissioner
appointed by the United States 10 the
monetary conference then In session In
Paris In this letter ne strongly urges
a single gold standard coin OF uniform
weight, as unit among the nations
represented. The franc had been sug.
gested aud the possibility Of making
the weight OF our dollar conform 10
the weight Of the fve-franc coin In
gold; this would slightly reduce It's
weight. ON this point he says plainly:
1--WE will have some difficulty Ia adj
justing existing contracts with the
new dollar; but as contracts are now
based upon the fiuetuating value Of
paper money, even the reduced dollar
in coin will have more purchasable
value than our currency. We can
easily adjust the reduction with the
public creditors In the payment or con.
version OF their securities, while pri'
vato creditors might be authorized TO
recover upon the old standard All
these are matters OF detail 10 which /
hope the commission will direct their
| attentionn
Money as a medium Of exchange
merely represents value and conveys
that representation. 1; need not have
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, 4 note may
be given by the buyer 20 the seller, on
which i certified the value Of the arti-
Gle Any amount great or small, may
be written In II; It's power
lies in the sum which II rep
resents The seller receiving Il may
pass Il, for articles he needs, 10 another
seller, who. In turn, may pass II 20 an
other aud he 20 another; thus the same
note may be the medium Of many ex-
changes; especially Is this the case
when the original giver Of the note Is
well known, aud known 10 be reliable
and honorable. And II every mrn
were known 10 be unfailingly honest
and responsible, these individual notes
would be all the medium OF exchange
necessary. As a matter Of fact a 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 aud corporations that were
given for this purpose, and the pro
posed international clearing house
will be the exchanging on a colossal
scale OF these representations OF value
between parties Of all lands
II Is very convenient however, "a
have these notes already made out "a
represent different values, and 10 have
an iudorscr well known aud Of recog'
nized responsibility. 40 that exchanges
can DO made quickly, accurately and
safely. Money Is, therefore, issued by
the government representing such val
ues, that any transactions, great OF
small, may be arranged withiaclliiy.
Coin Is metal stamped TO represent
values: tho 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 10 represent one
twentieth Of dollar, and silver and
gold stamped represent, one, five, ter
or twenty dollars The material oil
which coin, as a medium OF exchange
Is made Il OF no Importance. II may
be iron, copper, nickel, silver gold
aluminium or any other metal II Is
the stamp upon the metal, as upon the
paper, that determines the representa-
ton OF value II shall carry; just a
truly a. the date, amount and sigma
ture OF an individuals note determines
what II shall represent and convey.
Coins are not necessary and are not
popular as a medium OF exchange,
Paper currency such as bank
bills, silver and gold certih
Gates. checks aud drafts, are
much more convenient and desirable.
Money In the form OF coin has It's uss
as a measure OF values, but asa mediu nj
Of trade Il might just as we'll remain
carefully aud safely stored In the treas
ury vaults Prom Rev. J. C. Elliottl
"These Hard Times"