The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-09-18
| THE FINANCIAL FORUM |
ERROR CONVENTIONAL.
Mr' Clagsett Takes Exceptions to
am Omission In His Communfca-

an Omission In His Communities
ton.
70 the Editor of the Globe.
i aalAs Ior publishing my letter I on1v
WISH you would follow copy IittIa cIoaa-
AZ tsa Ihey VIII make market for it
at the mint and a further market for a.
prvuuct OF the mint in produce exchange
~, lou make II read differently, as you leave
the the n sne WORDS and further market for
me tne proouets OF the mint" What I mean ia
enat parties can take coin from the mint
alter tney have had 1t minted and with n
purchase produce, goods. or land that no
payment for these " "ne ~ III
AS to your argument. will you allow me IN
make Few comments. You should AFT Least
pc falr about 1t. l claim to be as good =
Democrat as you. You say: "Mr. Clagsett
should get the relation, viz: Value and
prices, clear in his mind"
co Exactiy thing Is worth just what you
can get for it. That price is the value in
eacn transaction. Also you state: He should
next consider that the mental appreciation
oen ersire when determines values must be
senera!, ana not individual. 1t is the mental
appreciation OF all the people who have anv-
thing 70 do with a given commodity
money is not a commodity; is not produced
IKE commodities. 1t should be just meas
ure of value Of all commodities The money
OF one nation is not the money of any other
nation, and will not pay current in the trans
actlons OF other nations 1t is an Individual
matter for each nation to arrange
commodities are governed and used by all
hdIoHS, anu In6To can De such thing a
WORLDS price. When the whole people of
any one nation desire to establish a currency
they can do it, when you admit as you do
tnaL the desire of all the people who have
awning TO DO with a given commodity
establishes the value. Then l tell you that
all OF the people of the United States can
establish the value Of their silver dollar;
that they are the only people interested in
that dollar, and the present campaign indi-
Gates that they are very much interested in
p H.
States and in Europe today is maintained
at Is to or less, unless it was the desire
of the people to SO use 1t. How long could
1t be SO used?
l have learned a few things beside what
the o b has taught me.
The people Of the United States do not
want the ounce Of gold, or the sixecen ounces
OF silver. They are most Of them wanting
| Uncle Sans dollars, whether of gold silver
or paper. Is that not true? They want a
dollar that will pay dollars worth Of taxes
or debts, and that will not take three bush
els of wheat to get either. They want an
honest and just measure of value, one that
| is not appreciated, deprecated. They
| want the government to issue them, not the
| banks, just as Thomas Jefferson wanted 100
| years ago.
Do you suppose Jefferson would have been
found in convention like that one at In
dianapolis? No; he would much rather have
associated with English Tories. In a former
editorial you say | am too sensitive about
being called a Populist. Perhaps 1 One
and of Jefferson, It's founder, always has
been, that majority rules. The majority
/ at Chicago certainly large enough. Mr..
Bryan's nomination was entirely regular.
I support him, every true Democrat
should. By no word of Jefferson, also by no
ancient or modern principle ever advocated
by the Democratic party can you read one
out of it. 1 Democrat, and do not care
to be called anything else.
George H. Claggett.
Montevideo Mimi, Sept. Is, 1896.
CThe commission which Mr. Claggett refers
to Sas, Of course a mistake of the type
setter, and we publish the correction for
whatever it may be worth, although it's value
is not clear to u.s. AS to the rest Of his let
ter, when any one discussing an economic
question says that "price is the value in
each transaction" and adds that money is
not a commodity" it is useless to follow
him. One could not demonstrate to any man
the simplest proposition in geometry IL he
denied the truth of Its axioms and asserted,
for instance, that things which equal to
the same thing are not equal to each other.
Argument in such is futile.-Editor.)