The people's journal. (Pickens, S.C.) 1891-1903, 1896-10-22
C"feclafsIn on Money.

A. Money is anything that will
pass in exchange for goods, OF
services, for the payment Of debts
q. What is the function Of
money?
A. The primary function of
money Is to make the exchange of
things of value easy. 1t can and
should perform no other function
q. What is value?
A. Value is relative term. The
value of any given thing boing
dependent upon supply and de-
mand, other things being equal.
Q. Upon what docs the value of
money depend?
A. The value of money depends
upon the amount of money in
circulation, in proportion to the
amount Of wealth to be exchanged.
O. What otfoct does tho curren-
cy have upon the market value of
commodities?
A. If the currency is contracted
one-half. and the production of
wealth remains the Same, the value
Of the currency must Of necessity bo
doubled, or the same is the result
if the prices Of produce is reduced
ono-half; or if the amount of mon
ey in circulation remains the sumo
and the amount Of wealth
doubles, we would have practically
the same result. And if the mon
ey of the country is taken from
circulation and is monopolized by
banks, it has the effect of Il cornor
on tho market and enhances tho
value of tho money whether in cir
culation or boarded, and reduces
the price of all commodities.
g. How can Il safo and un-
changablc vaIu OF our unit Of
value, the dollar, be maintained?
a. 70 have an Interchangeable
init if Of value the volume Of
money in circulation must keep
equal pace with the increase Of
population and the production Of
wealth.
g. IS it necessary for anything
to have intrinsic value to be used
as money?
A. "Thc theory of intrinsic VAL
no of money has hocn abandoned
by tho best writer's and speakers. -
-Encyclopcdia Britannica.
can article is determined to be
money by reason of the perform
ancc by it of certain functions,
without regard to its form or sub
stance. ."--Appleton's Encyclopo-
dia.
"Whatover tho government
agrees to receive in tho payment of
dues, as medium of circulation,
is money, no mattcr what its form
may be, treasury notes, drafts, etc
Such bills or paper issued under
the authority of tho United States
is money."-Honry Clay.
eve repeat, money is not q
substance, but an impression OF
legal authority-a printed lega
Observation-Disclosures. GU. S. Al
torney-Gonoral under Grant.)
Metallic money whilo acting a
coin is identical with paper mono
in respect to its being destitute O
intrinsic vslud. .;'-North BIRTHS
Review.
Money is tho medium of G,
change. Whutevor performs tn
function, docsthe work, is none,
,, no matter what it is made off,
Walker, Political Economy. "Tl
= intrinsic value idoa of money wa
; the idea in tho days of crude ba
barism. Tho simplest and no.
i perfect form of money is tn,
which represents nothing hl
: transferable debt, such as papc
y 1t is only whom states have rcachc
h, high degree Of civilization tn,
o they adopt this perfect form ,
- money. .'--Roes' Encyclopedia.
=. "Whatovor power thcrc is ov,
! i the currency is vested in congros
If tho powor to declare what
money ia not in congress-, it
-, annihllatod. We repeat, mon,
80 m Is not Il substance, but an imprc
- sion of loyal docrco. ."-l2 Walla
y, 510.(U S. Supreme court.)
q. Is it necessary to havo
-, redcomablo currency?
~ a. All the redemption neccssa
-, is. to make tho governments not
" good in payment for all publ
, dues.
!, G. What redeoms gold and silv
=. money now?
", y, A. Gold and silver money "a
!, not redeemed until they arc give
~ in the payment Of dohts or o:
~, changed for articles wealth.
10 q. If gold and silver mono
u y were not convertible into other q
a. ~; ticlcs of wealth, would they ha,
II any value?
II a. They would not.
~ q. Who are the leading fatis
w :" of this country
~ A. Thos Jefferson, Andrew Jacl
&c x son, Horny Clay, John G. Calhou
q u. Bonjanrin Franklin, Abraha,
:; Lincoln, j. X. M.