Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-10-22

: being 10 place the ;wo metals for money
purposes upon an equality. so that me
ncssib-a volume Of money IN the one
mel would not exceed the possiJ.e
volume of the other And it being
! learned uD9n careful investigation ana
compulstiOn that there was about SIX
/ teen times as much silver in the Woliu
as golf the conclusion was that an
eJuai number Of sold and silver dollars
could only be maintained by putting
sixteen times as mucl metal into the
silver dollar as into the gold dollar.
Possibly his was fancitul thing 10
DO: but the reasons Ter it seemed good
10 the fathers of the country S money.
But The only way evidently 10 fairly
compare the inherent value OF gold ana
silver is 10 put them upon the same
basis: that is by either demOnetizing
gold or remonetizing silver. Upon re-
im1ne.izng silver its value would not
be measured as a mere commodity ac-
cOrding to its commercial utility.
Hence its value would be It's money
Or purchasing value-its fiat value BY
GsmOnetz.nz gold its value would no
longer be measured as q money; Out
it would become & mere commodity;
and It's value governed by the Jaw or
supplv and demand. Hence its value
would cease to be d money CT pur-
ch.s,ng. or fat value. Without ven
turing 10 put commercial price upon
il. I think it may be said that Is mar
kat value would be less than the pres
eut market valune of silver. From this
D. g. ss 10 raff
fact depends for its present value upon
its recognition as money metal The
fat OF nations is now impressed upon
H. There is obviously no such thing as
natural money. All money is and
must always be iat money; which
means simply that it has legaiized
recognition as a medium OF exchange.
This VIII indicate the underlying fall
.acy Of the argument about the So
called 'ffty-ceat dollar
Now. a word as 10 money. Of what
ever It may be composed, 10 whatever
uses il may become perverted. the pri-
mary and fundamental purposes Of
money is very simple one. IL is 10
facilitate the exchange Of commoc.-
lies: TO relieve society from the cum
bersqne End im1alculable inc0nyeni-
ence of trade by barter. Money has no
inherent value. II is as nearly abso-
-uta-y worthless in Itself asany cOnceiY-
able thing can be- a silver dollar or
double gold eagle may be helpful TO
an infant IN cutting its teeth. But I
know OF nothing else for which either is
USEFUL IN ITSELF;
and for thar Dur,DOse they are probably
OF equal value Money is the lubricant
OF -ade: the oil Of which the ma
chinery Of commerce is dept freely in
motion. As q lubriCaJor only is IT use
ful to the world. And as a lubTicat0r
81 must be kept in free and constant
use: otherwise the wheels of commerce
become clogged; FOR without it the
wCrltmust carry on its trade by resort,
ing TO the cumbersome methods OF bar
ter. or exchange Of the articles them
selves. Practically speaking. this
means tina trade without money w.
sJagnate.
"a stagn9nt or clogged condition Of
trade may originate from TWO sources
Either fVcm an unusual or unhealthy
condition with respect TO the supply
or demand Of commodities themselves,
which has nothing 10 do with the me.
dunn of exchange; or, this staS1ant
condition Or d.s2rrangement of the ma.
chiCery of commerce may be the re-
suic Of unusual or unhealthy monetary
rond,dons rs IN The withdrawal of
money from circulation.
"Now 1t is the belief Of many tha, the
present long continued hard times arc
to be attributed 20 the latter source. viz:
unhealthy monetary conditions. Hence
The money question is brought forward
as The paramount question of the day.
l. is possible thai deeper insight into
The prevailing troubles would reveal
other reasons for their existence. Bus
accepting the belief that the love OF
money is the root of all evil, We may as
sumo for the present purpose -hat it is
az The root of the present evils. If we
en- discover the source of The trOubll
with The money system we may be en-
abl5d the better to suggest a remedy, or
at all events be in a position 20 form a
better estimate as TO the efficiency on the
remedies which have been proposed by
others.
"To DO this intelligently we must keep
always before us the Ole simple and fun
Camen-al proposition above SCI forth,
that money is the medium of exchange,
and that its only legitimate use and
purposes Is 10 facilitate that is, TO make
convenient the exchange OF commodi-
ties.
You will. of course. understand that
the word commodity IS thus used in
broad sense and c0mprehends labor itself
as we'll IS articles of commerce ana all
exchangaable things capable Of having
price or eXcnangeable value.
The perversion of money TO any
other purpose than that OF an aid TO
trade and commerce; o. It's Withdrawal
from use in the world of trade has its
immediate effect upon trade and is in
iurious 10 trade. Tt causes inconyen-
fences. disgurbes business relations and
agi-ates the minds of the people. You
viii remember the old story OF he ser
want who digged in me ground and hid
his Lords talents and how he vas o.
linked for doing ii. He simply with
drew so much money from circulation.
and thai in itself was objectionable in
The ewes of the Lord. This withdrawal
Of money is a manifest evil wherever and
IN wha--7eve~ form 1t interferes with
and rerards the even flow of the world s
commerce. Great accommodations of
money in the hands of single indivit-
ual or Of a few individuals who store it
ND or hold it. control it for purposes Of
spacula-ion: that s, for purposes other
than the promotion Of trade, directly and
iniuriously affects all trade relations.
II The use of money is subverted TO gamb-