The Prince George's enquirer and southern Maryland advertiser. (Upper Marlborough, Md.) 1882-1925, 1896-03-20
NATURAL MONEY.
NATURE, NOT MAN, DECIDES WHAT
SHALL BE MONEY.

She Places Gold First, and Silver,
Nickel and Copper Afterwards
Artificial Laws Cannot Change
This Order.
The following is ALI extract from
Geo. Fl. Yeaman's Currency Primer"
recently published by the Reform Club,
of New York:
"This enumeration of the qualities
which fit money for the effective dis
charge of its Office and function points
inevitably to gold and silver as the
metals from which it must be made
for use in any considerable sums. For
petty transactions nickel, and for still
smaller transactions copper, take q
minor and limited position.
"Tne relative use of these metals is
simply a question of convenience and
efficiency. Why do we not use gold
exclusively? Because gold dollar is
inconveniently small and gold dime
would be practicable. For these we
prefer silver. Below gold why do We
not use silver exclusively? Because
five. cent piece of silver would be too
small for convenience, and a one-cent
piece of pure silver would have no
utility; its small size making it diff
cult to keep, handle and count. For
these we prefer nickel and copper.
"Now invert the question. Why not
ali money of copper? Because we do
not wish to carry in our pocket SO
much as one dollar in copper cents.
Then why not all in silver? Because
we dc not wish to carry SO much as
ten, Ger talnly not so much as fifty dol
lars, in silver in our pocket. Then
why not all gold? Because We prefer
silver for some purposes, and coarser
metals than silver for still smaller pur-
poses. And why have and use any
paper representatives. of coins? Be-
cause we do not wish to carry 500,
certainly not $1,000, of gold in our
pocket. Who or what gave these
metals-gold, silver, nickel, copper
their peculiar qualities for serving as
coined money? Man did not. Law
did not. Government could not. 1t
was done by nature. Man, govern
ment, law, only took hold OF and uti;
Ezed the materials furnished by nature.
s'Nature has given these metals the
qualities of durability and msllea-
biiity; to two of them great beauty.
and to one OF them great scarcity in
quantity and steadiness OF supply as
compared with other metals. Having
illustrated, what is often overlooked,
the enormous Importance of convent;
ence and efectiveness-qua.ities which
any material for money must possess
we can easily see the like Importance
of compactness and limitel supply of
that material, when large values are
to he estimated. Suppose gold were
our only money and it suddenly be-
came as plentiful as pig iron. 1t would
cease to be used as money. The gold
you would then carry to market would
be heavier than the vegetables and
meats you brought away. Something
else would have to be substituted for
gold.
eff the tables were thus turned as be-
tween gold and silver, then instead of
one of gold to sixteen OF silver as now,
the ratio would be about one of silver
to 47OO of gold, and the ratio between
gold and pig-iron, instead OF being
about one to IS, 900 to 100, 900, would
be one to one. This illustrates the po-
tency of the factors of compactness
and convenience. combining to con-
stitute the effectiveness of money as
an instrument to facilitate business
transactions. Nature has decreed OF
what materials our money shall be,
aud has even indicated the proper
tions of money to be made Of each
metal, and nature Is more potent than
legislation.
The qualities of scarcity and regu-
larity of supply OF any matetial for
money, prevent both sudden expansion
and sudden contraction. Legislative
fat mo ley. promises an: pretty pic
lures, printed on pretty paper, with no
metal behind them, have no place in q
sound currency. Imitation with rela-
lively inferior metal is only not quite
so bad as paper imitation with no solid
metallic basis. 1t is the came evil,
differing only in degree and kind.