The times. [volume] (Richmond, Va.) 1890-1903, 1896-09-03
Legal Tender Cow Money Defended.

Editor Of The Times:
sir.-The suggestion that / made not
long since that legal tender certificates
secured upon WHISKY asd COWS might
improve by age and thus be better than
silver. coupled with a suggestion OF esq
certificates in place Of cents has received
the full consideration which it deserves.
Several important sugges lions. however.
have led me 10 give mp a part Of the plan
80 as 10 retain the cow only as the single
init or standard Of value.
10 ia held that the whisky certificaf- -
might be subject 10 too rapid contraction
which would lead to unsteadiness when
they were presented FOR liquidation in
money OF ultimate redemption namely
whisky 1t Is true that when first issued
there would be little call for liquidation
in raw whisky, but as time went on the
contraction would surely follow and that
would deprive the masses Of the people
bo'h OF money and OF whisky alike
Objection has been taken 10 the egg
certificates for small change. 10 f. true
that this objection comes only from those
who do not yet fully comprehend the
fundamental principle lately so fully pre-
scented by Mr.. Bryan-samely, that n the
Government creates a use nv law of
legal tender for any medium Of exchange
the ensuing demand will AZ once TX the
value OF that material without regard 20
lis quality or 10 cost Of production He
has only eucidated this principle I'm re-
spect 10 silver but n is manifest that II
aUnlies 10 all substances that have ever
been made use OF for money. I do not
know that eggs have ever been legally
lopted but every one Is aware that
whenever the mistress OF a hen-yard re-
quires a few goods az the shop she Is
certain that eggs will be accepted in ex-
hange.
II is. however. held by the obiectors 10
egg certificates that while there are many
persons who do not know the difference
between good money and bad money AL
most every one can tell the difference be-
tween a good egg and a bad egg: but they
say that some might be deceived and that
when the certificates were presented for
money Of ultimate redemption some peo-
ple might be served with bad eggs !
confess that this objection 10 egg certi-
fcates is fatal although 7 do not see why
n * not equally as fatal when II Is ap-
piled 10 bad dollars made OF silver az
| cost Of fftv cents each or thereabout.
Rut when we revert 10 the true his
toric mi. OF value. the COW. none OF these
| nnlRFfInI1
the common rule that one cannot eat his
cake and have IL. too fails in its spplics-
ton 70 COW money we can have all the
cow money Of full legal tender that we
need and yet eat all the edible part when
ever We want beef. This fact goes &
nrove how providential the selection OF
| cows for monetary purposes must have
I been. and we have been deprived for
ages OF that great advantage by the
crime which was committed when cows
wore demonetZed.
There f. one great body or men who
have resisted the Introduction ef metal
! lie money and who still possess the fol
advantage Of COW money-the Iulus. tbs
Kaflrs and the other more INTELLIGENT
| colored races OF South Africa still possess
| that great advantage over ourselves The
price OF a wife among these Intelligent
people at the latesi quotation. was ten
cows. other household implements in pro-
portion.
The great advantage Of COW money in