Smyrna times., 1896-07-15
Highest of all in Leavening Power-Lae u Govt Report
R>!A!I! RR skdsSF
ABSOLUTELY PURE

eggs and chickens or some other COM
modify, for sale. He goes to his
grOceryman, and, happening to need
some ''stOre' goods, he and the dealer
soon strike up trade. Now it be-
comes sell-evident that either the far
mer will furnish greater value in pro-
duce than he takes out in goods or
else the merchant will furnish greater
value in goods than he receives in pro-
duce. Now, how is the difference to |
be balanced? Either the farmer or the |
merchant would have to cut down their |
produce or goods, under primitive con-
ditions, or else the one would have to |
sign an acknowledgment of indebted |
ness to the other, which latter arrange
ment would be satisfactory enough, if
they conducted their dealings with no
one else. Right here indeed is where
money is useful. The one pays the
other in coin of the realm-either gold,
silver or paper-and the payee has a
certificate good to conduct business
with any man woman and child in this
country. 1t will readily be seen that
the above example illustrates the fOun-
dation for all trade and all commerce.
Now here comes the question, whose
answer-the above hypothesis being SO
will determine for us whether money
is a commodity or not. The answer is
emphatically, mo" Money is not
and can not be commodity. 1t is sim
ply and solely the representative of value
given and value received. If all money
gold, silver and paper-should be
abolished by law-it would have no
value whatever. 1t would not feed a
single starving child, it would not
clOthe a single ragged news-boy; nor,
such abolition being effected, no work
man paid in money, would be able
Herewith to purchase a single loaf of
bread for himself and his family. It
must be, therefore, that the laws of the
country where it is used give it its only
value. I do not mean to state that
gold and silver, as a commodity, have
no value. l simply say that its com
modify value ceases when it is coined
into money, and is only resumed when
such coins are re-melted into bullion.
SO much for the definition of money.
l close this paragraph by pointing out
the fact that the Grade dollar, though
containing more silver than the one in
use, is not, worth as much, owing to
legal enactment. This being undisput-
ably so, it lays away in an ignominiOus
grave the "bogy" dictum ''that money
is a commodity"
Now, Mr.. Editor, where does the Op-
position to the free coinage of silver
come from? From the banking mono
poly, is it not so? That being the case,
would it not be well for us to lay bare
with the scalpel of cold fact the where
fore and why of such combativeness on
the part of our money lords? Begin
ming at the time when the sunlight of
independence shOne upon the heroic
group of American colonies, through
the fog and mist of seven years war
at the time when the immortal Wash
ington was chosen the first President
of the newborn Republic, and Alex
ander Hamilton assumed direction of
the National treasury, we find the
mints opened to the free and unlimited
coinage of both gold and silver, and,
tracing our cOuntrys' history down to
1878, we find them open to both metals
without restriction. In the meant time
however a National Banking system
had taken the place of the old state
banks. In some respects the change
was a great improvement. The old
State Banks were extremely liable to
} failure, and their notes being easily
cOunterfeited, it was found extremely
useful to have bank detector handy,
: before accepting paper of that kind. The
National system, of course did away with
+ all this. The adoption of National in
: spectOrship, the improved methods Of
engraving, and the exertion's of the
detectives of the secret service soo1
) made failures and counterfeiting scares
, and more dangerous than they had
: been. Their harmfulness however
was in granting to comparative hand
fdl of men the monopoly of the cir.
culating medium. State banks were
taxed 10 per cent. in order to drive
) them out of existence, and, in addition
l the National Banks were and are re-
, quired by law to deposit a certain
. amount in bonds to secure circulation
: for which this free government of ours
pays them (the banks) interest. Now
some of the shruder ones soon saw the
the power which had been placed into
their hands. They perceived that i
the circulating medium could only b.
contracted. the banks, which virtually
controlled all the money, either by de
post, notes mortgages or loans. would
e be that much richer. In other words
i If money could only be rendered scarce
: and hard to get, it would have a de
e preciating effect upon the commodities
/, the necessities and the luxuries o
i life. Well, they marshalled thei
# clans, went to Washington, and sue
It ceeded, either by brides or bull-dozing
!; in demonetizing silver in 1878. Ii
# fact, Mr.. Editor it is too clear case t,
g admit of much argument. We know
y that all commodities-espec whea
e corn, and oats have been steadily fall
lug ever since, with this exception
i, that those products which are con
IS trolled by the merciless hand of mono
}, poly, have steadily rose, in spite of tn,
y laws of supply and demand, OF an.
r other cause than that attributable t,
o Unsuitable greed and crime.
y This precious fraternity OF banking
5, conspirators selected silver for thei
victim, because there happened to be
" somewhat, but not much greater sup
9 ply of it in the country than gold, AM
d they thought it just as well to kill tn
If hog, while they were about it, and lie
er the pig go free. The result has onl,