Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1896-12-03
Is Il intrinsic Value Or LEGAL YaIue2


cred in the postoflice in this city. Al
is usual in such cases they represent
ed different political parties, and, las il
usual IN such casey, the conversation
turned on the all-absorblng money
question. One side contended that
money material must have an lntrin'
sic value, and that as gold had that
kind Of value, therefore it, (gold)
was best fitted for money uses, or tol
the standard of value
The word, intrinsic was used SC
often that your correspondent was
impelled to investigate as to what is
the best definition Of the term. Web.
ster's International Dictionary defines
the word, as follows: Edwards inter
nal; hence true; genuine; real; essen
tial ;.inherent; not merely apparent or
accidental; opposed to extrlnsic," etc.
We find that the word is derived from
q Latin term meaning inward; on the
inside; within, etc.
The query will naturally arise in
the mind Of the thoughtful person; is
it an "intrinsic" property or quality
that imparts to gold the value"
which man now sets uponit? Isthere
any exact, natural measure Of worth,
excellence or utility inherent" IN,
naturally pertaining to, inseperably
attached to, or inslienable from
gold, that we should attribute to il
intrinsic" value? Is it not rather an
exchange value; or, more accurately
speaking a legal value? The Ency-
clopedia Britannica, Vol. l6, Page
1856 informs us that gold bullion for
coinage" On FDgland), lis supplied
10 the mints almost entirely by the
Bank of England, the bank being
bound By IGlO to purchase at the rate
Of 6 3, II 8, 8 d, an ounce any gold
bullion Of the legal standard which
The public may bring for SALE" Here
8 a legal enactment by which stable
market is provided for gold bullion
making fuctuation IN value impos-
,ible. In connection with this, Eng
and has another law under the oper-
atom OF which the owner of bullion
nay, if he choose, have his bullion
coined free of any charge for loss or
(same vo), In other
words England has both Gree coin
age" and a purchase law This, with
The coinage laws of other nations in
Iures stable value to gold the world
1ver. The reason Is obvious. No
,ne will part with it to any person
or less than he can get for it from
lis government, or through the pro.
,ess of having it coined. Now then,
easoning from analogy, is it not
,lain that if from any cause, this
treat government of ours should
,nact a law by which it became the
luty Of some department to receive
nd pay for at given price all the
ireclay of q certain quality that
hould be offered, it would at once
x a market price for that material
which every man who wished to use
ny'of it in his business would have
0 pay? II true in one case is it not
rue in any case, even IN the case of
liver?
The advocates of bimetsllism do |
OF deny that gold may have intrinsic
slue. They do however,q question mans
blllty to say that that intrlnsicality |
as been 50 nicely determined that
twenty-five and eight tenths grams,
inc tenths pure is worth one hun
red cents every day in the year.
One can understand how pure air,
and the different natural
ualities which go to sustain life
ave intrinsic value. That is all the
alue attached to sunshine and air!
hank God, they have no exchange, I
r commercial, or, if you please, legal
alue. Their qualities of blessings
re- inherent, within" themselves, and |
/ the case of these elements we are
bsolutely safe in contending that
hat makes them able to- bless man
ind is their real'intrinsic value.
All this talk about intrinsic value in
loney is but vapor. Not the gold of
nation makes it great, but, patriot
M, sturdy honesty, and integrity of
s citizenship. That race at men and
omen that has the courage and in
diligence to grspple with the forces
nature and turn them into such