, 1896-10-03

H''A4SNtiitAHk lAdl sum ID ENAAIiSNhOAO ~
municipal or international law to GENEROUSLY,
meanly, unfeelingly, and clandestinely, offer
more for them. over the heads of the poor
occupants, and the proprietors accepted their
proposals, the income, from such places,
will have Immediately increased IN value.
CThis | know supports we'll the theory Of
demard increasing value, but l nevertheless
insert it.........)
And last, the head Of the mongoose is, at
present, worth nothing in this island, but sup
pose the government, with the idea #
eNterminating this described enemy. and des-
troyer Of eggs, birds and poultry, were TO
offer a stipulated sum for each one produced,
il would not matter whether the small amount
required tor The purpose, was by mutual
consent Of those Concerned, taken from the
emmiggation fund or not, so long as the
proffer WAS standing, mongooses heads would
have a fixed value. whether 2, 3, Toe. more.
or less in st. Croix.
The foregoing then, l hope, %sufices to prove
conclusivciy that it is in the power of Govern
ments to q certain extent to change the eX-
cbangeuh!e value Of anything whatever, and
fix it Oh even more than one or tco things,
where they exercise sway or influence.
o. | also to this, reply in tile atfirma-
tive, and say that the value of money, which
is, after all, but a token-a representative
of value, q commodity, easily converted into
neceSsaries or requisites, is not caused, so
much by the worth Of the material Of which
it is compal ed, or it's intrinsic value, as to
its ready acceptance or power of being easily
turned iuto essentials &c, or what is allied
in political economy. its erchangeable ralNs.
This, is fully attested by the worry fact
which You quoted, OF tie shilling passing in
England for double lis intrinsic value rs
bullion. and which is the result If lis bear
ing that Governments stamp, and supported
by its DEGREES, its scantiness could no
more make it acceptable or passablo for more
than It's intI insic value, as metal 1hnn it
could def ICED or counterfeit coin and could
such be put in force throughout the world,
Notwithstanding that it is made Of Silcer
instead Of gold, the shilling would have the
same universal value, as it nov has in Eng
land as a coin.
We also often see Banks AMI Govern
ments' notes, of mere paper, having 4 greater
interchangeable value than some com. This
then leads to the conclusion thtt it matters
not of what money is made, # it be only accept
ed by, and easily passed, bet7ceen people
for its face ratue, and IS easily concerted
into chat may be required. just as the b.
Government by its taos has modo gold
its standard might also were it inclined, have
llldUc bllN6 Ell lUSltNU,
These truths are urtAerdemonstrated by our
Government issuing a coin which, is perhaps
as bullion, worth less than half Of it's face
value, but which passes therefor in these
islands, as long as it is by law, | understand
compelled TO be taken as currency to the
amount, of not mOre than SIS at a tiRe, and
| am Of the opinion that were it not for this
limit, its depreciation in relation TO notes
which you refer to, had never occurred, des-
pite there being in this market more than its
customary supply; but when bankers and
others found that the very government 4 am
not finding fault which issued it Tor its en-
ployees) refused it in payment of taxes and
duties except to a cery limited degree they
very naturally took advantage of the state
Of the market and declined to handle it save
at a discount. Similar causes might be as
signed to the great depreciation in value of
the Mexican dollar, which as bullion, is de
cidedly worth more than our and some other
coins. Now then, | go back to the earliest
ages, anteceding the issue of coin, when peo-
pies riches were estimated by their fooks
and herds, and although, [ grant, that such
a standard could by no means even approach
that of money, for convenience, utility, &c,
yet as long as it wGs the acknowledged
standard, it answered the purpose. Again
the Spartan Dollar which in the days of
Lycargus is said TO have been made of iron,
was quite able to purchase its faces worth,
in that kingdom, where it acds suppOrted6y