Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1896-09-13


t1.' stat:,p whicn now belongs In ii Sit
YER ,iuil31 +, a Ein,". of 'OpD.ru al sin! =
la, shape and size. AMI would call this
.,asr coin IL dollar, it could ""t bile
the people to give their goots IN tx
change for il, rs it, nominal velue.'
(Boweu's American Political Econ
omy.)
"Valie IS value, and there is only
one Kind Of value. and no one can
show anything different in the
value OF money, either in respect
to the way in which it arises or in the
laws which control it. for the value OF
any other commodity. y X Value is
simply purchasing power. and money
has value, because, we can purchase
with it. exactly a. everything Else has
value for that reason" (P-rry's Ele-
ments of Political Ecommy)
Gold and silver, then, as money,
have value in the same sense and for
the same reason as any other product
i've instrument"
value knows its own laws aud :ol-
lows them in spite t decree. and pea
a~lties."
"The strongest an most unscrup-
ulo,Is Governments are powerless to
regulate the value of snythiug."
(Perry's Elements Of Economy
I. is needless to multiply authorities
in support OF "a proposition which is
so old, aud so universal that it has
become a maxim of political economy.
and so well verified thai no modern
writ~r questions it. But II nothing
had ever beer written, if history were
silent and reason dumb, experience
would teach us the %futiliIy Of all l-gis-
iative attempts to give value to money
or control its purchasing power.
As we have seen the purchasing
power of Ii gold or silver dollar de-
ponds upon the value of he metal it
contains. The continuing value OF
the metal depends on the demand
which exists for its use, and tiucluates
with the market. To make gold AID
silver money eILal AS a medium Of eX-
change, he unit Of value represented
by each must Ire made ~intrlnsically
equal, and to preserve this equality ii
must be kept equal. Ii from any cause
The Intrinsic value Of the gold or sill
yer dollar SIouid be dem.uisEed, both
io,. f,lI %,,I,. ~ 2nkt th, ,tnrra
ciated coin wo.ld at once become The
sole standard OF value, and THE more
valuable coin would at one com mauC
d pre- miun and become au article OF
MERCHANDISE. SO it has even been anC
So ii will Y be until the laws NJ ma
ture are subveIted by the laws Of man
la most of Ghe civilized countries O
the world botn gold aud silver are useC
as money. Ia some countries they are
made by statute a legal tender in pay
ueDt OF debts, in some the Govern
meut contents itself with ascertainins
aud publishing the weight and fine
ness Of the coins. In the United State
the double stat.dnri" theoretical,
prevails. but owing to Governmental
reference and intrinsic i%nequalitie
} gold only possesses the absolute quail
! ity OF money, aud Is the real staI dar,
by which values are determined. Prac
ticaIly We have demonetiZed silver b,
denying it coinage, restricting it
legal-tender quality. and refusing I
use it in payment of the public debt.
SUPPLY AND DEMAND REGULATETHE vALU
. OF MONEY.
The value Of money, like the valu
Of commodities in general, depend
upon supply and demand. II the Gu
? rency is inflated, that i, if more none
is put in circulation than husines
-, and trade T q'ire, the %pnrchasin
: power mot the deht-payfng powel) c
-. money will decline; if the currency
contracted. that is if there is les
money in circulation than busines
and trade require the purchaing powe
(not the d-tt-payiug power Of none
! will advance.
NJ OF CONCLUSIONS,
The coucluSiuns thus far reached /
g this discussion may be summarize
as follows:
k Silver is ii commodity. the eXchaDe
=, value Of which depends upon suppl
n and demahd. To increase the deman
will raise the price. A demand may /
e created ana the price advanced |
d : using more silver in the coins. 1t
e, the intertSt of those who have silver
c sell, to have the weight and quantit
n OF III, coiI S Increased.
d The value of the coins is net equ;
" -the onld. in the gold dollar IS won