Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-09-12
RELATIONS OF GOLD and SILVER MONEY

money Is also shown by the account in
judges OF Micha having taken from his
mother eleven hundred shekels of silver,
when 1t is recorded that he restored the
money unto his mother: and his mother
took zoo shekels Of silver and gave them
to the founder" Again, when King David
purchased Of Aranna or Ornan the thresh-
Ing floor and field. 1t is said in one verse
that he bought the threshing floor for "fif-
ty shekels of silver" no mention of weight,
while In another verse and book that he
gave for the field six hundred shekels Of
gold by weight
IT there was any specific revelation that
gold was to be the money standard 1t was
one Of the mistakes of Moses not to record
1t when he wrote out all the details Of the
law. That the revelation. so far as relates
to money. was for the use OF silver is not
only evidenced by the fact that all the
nnes, taxes, awards etc, were to be paid
IN so many shekels Of silver, but in Lee
yiticus VIA 49, the silver standard was
distinctly established in these words: And
the Lord spake unto Moses. saying: He
shail bring ram without blemish out of
the Hooks with thy estimation by shekels
OF silver. after the shel1sl Of the sanctuary"
There was no coinage by the Jews, IN
the modern sense, until that privilege was
granted them by King Antiochus Of Syria,
In letter to Simon, their prince and priest
about 1873 B. c.. but the best secular writ
ers agree that the silver shekel was a piece
OF ABOUT half ounce weight, which, when
marked In a certain distinguishing way,
the sanctuary.
The only use of gold except as bullion
anywhere mentioned in the Scripture Is
Tor JeWeiry. plate. decorations and. as in
the present day, as an object of worship.
Mr.. Davis Is altogether too modest when
ne speaks of the law setting apart gold as
alone mt for money as Gresham's law. The
law known by that name was not of that
character, but. was to the effect that the
cheaIer metal would always drive out of
circulation the dearer. The logical conclu-
sion to be drawn from this was not that
one metal should be permanently sup
pressed Dut that both should be used as
checks on each other, especially as their
relative value is known to have fuctuated
80 OFTEN and so greatly. The English peo-
PIE scted according to the true logic. and
Kept silver full legal tender for more
than two hundred years after Gresham's
law was knawn. never curtailing it's stand
ing ing or making 1t subsidiary metal until
Again. Mr.. Davis is unfortunate in class
ing Gresham's law with Kepler's laws and
the law of gravity. which he calls New
IONS law. Kepler's laws were really not
laws at all. but facts discovered by him In
relation to the movements of the planets.
Newtcn's discovery of the law of gravita-
ton. while often spoken Of as the compile
ment OF Kepler's. was really the discovery
OF the law compelling these particular
movements. But these all related to the
movement of inert matter involving a law
or laws which man could not repeal In
IesdTu 10 MS own movements and the eS-
Enlistment of governments, social inter
course and trade, he was left a free agent
to make his own laws
Greshams discovery Is no more of q
fact, If 1t Is a fact than the history of the
production Of the two metals, which shows
that when you take any considerable pc
Rod OF years 1t varies little from the ratio
of is to 1. Had 1 made 1t a twenty years
study 1 might be justified in saying from
this that it was a law of nature that the
metals should be coined in this proportion
1t NAV be well to add that Sir Thomas
fame does not rest solely or chiefly on this
alleged law. A more disting1fs hing and
bcneficent feature of his life was his es-
Establishment of the royal exchange and
teaching the English government to bor-
row from its own people rather than from
toreigners-financial independence. Would
1t not be well for the United States to learn
and practice this same lesson? ..
CO mot close without congratulattnR
Mr. Davis on his happy characterization Of
the republican platform b:metallic prom
Use as "a sop to Cerberus." Not only does
1t APPLY describe the temporary. and ,un-
trast Worthy character of this cheap prom
Use. but intimates in the most classic Ian
guage the destination to which the plat
form makers are travelling.
q o. B. HALLAM