Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1896-08-21

butter. No commodity can have fixed
or Interchangeable value.
8. The dollar is unit Of value, but
not a measure Of value. All values are
spoken of in dollars or in fractions of
dollars or multiples Of dollars. In this
way We can compare the value of
things.
| 4. The value of the dollar depends
upon the amount of wealth in the
country and the number Of dollars In
the country. No dollar can have any
value where there is nothing to buy
with it, nor can it have where the
number of dollars are unlimited.
5. The price Of all commodities, gold
included, is regulated by the law Of
supply and demand, and must vary
with these factions.
6. When We make the dollar so
many grains of gold the value Of the
dollar must rise and fall with the rise
and fall Of the value of gold.
7. To increase the demand for gold
must raise its price. During the last
two years our government has bought
1852 100000 worth of gold. This has
greatly increased the demand for it,
and this has raised its price, and this
is manifest in the low price Of every
thing else.
8. The high price of the dollar is al
ways expressed in the low price of
everything else. One dollar is always
worth 100 cents, but when the value OF
the dollar is based upon any commodi-
ty, neither the dollar nor the cents have
any fixed value, because the value of
the commodity changes with the law of
supply and demand.
8. II value could be measured unit
Of value which changes its value, as
gold does, could not be good measure
of value, any more than a unit of
length can be good measure Of length
If it continually changes its length.
10. Any kind of money would be good
II the unit value could have fixed and
Interchangeable value, and no kind Of
money can be good that does not full
fill this condition. II the dollar did not
change its value the average price of
things would always be the same. By
this is meant that If the average price
of all the things should be taken the
sum of these prices would always be
the same. The gold standard does not
secure this result, and therefore it is
not good money.
II. The average price of things could
be made Interchangeable on the following
plan: Demonetize all commodities and
issue new national paper money.
Make 1t the only legal tender money.
Establish national banks, Just as we
now have national postoffices. Accent
all money now in circulation at par in
these banks. This would give us about
as much money in circulation as we
have now, and prices would remain
about the same. But, since the aver
age prices of things now are lower than
they were few years ago, we should
seek to restore prices to some extent.
at least. This could be done by making
a present of say SIS or $40 to every man.
woman and child in the country. This
would increase the supply of money:
this would make it cheaper, and this
would raise the price of commodities.
But, If at any time prices should rise
too much we could take money COL
lected in taxes out of circulation in
sufficient quantity to restore former
prices. In this way the price, or pur-
chasing power, Of the dollar could be
kept constantly the same.
u. Paper money should not be made
a promise to pay in gold or silver, but
might read as follows: We, the people
Of the United States of America. agree
to accept this token as one dollar in
payment Of all debts and in exchange
Of all commodities.
10. People wishing to trade with
foreign nations could buy gold, or other
commodities, and trade as they do now
IA. No gold reserve would be needed
at Washington, as the paper money
would not require to be redeemed.
Is. All deposits in national banks
would be safe so long as the nation
was solvent, because bankers would be
mere agents of the government.