Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1897-12-22
TO PROSPERITY.
The Road Defined by w. II. wood i'm
The New Time.


The New Time.
what Constitutes Money.-As money
rs the foundation upon which the
superstructure of real prosperity is
erected, it should come under our con-
sideration first, and being very i'm
portant, we should lay aside all pre-
JUDGES and consider it carefully. In
approaching this subject, it is best to
have correct idea of what money is,
and, upon reflection, it will be found
that the best definition is that any
thing which is legally employed and
mutually accepted in buying and sell
ing is money, and as gold, silver and
paper have been the mediums legally
employed and mutually accepted in
this country, it is best to retain them.
Paper, stamped as money and issued
by the government, is most used and
desired by the people in general, as it
goes into the least compass, is light,
easily counted and portable. This, in
limited quantities, is, in conjunction
with gold and silver, by far the most
economical and the best currency that
can be used.
Intrinsic VaiNe.-There is very little
real intrinsic value in gold or silver,
except such as they receive from the
opinions of men, who place a value up
On them. There is much more intrin-
sic value in iron or steel, as they can
| be put to so many more useful pur-
poses than either gold or silver. In
the air we breathe there is great in
trinsic value because we could not live
without it, but gold and silver are in
no way Indispensable. Many people
in the Klondyke region will probably
starve to death this winter, though
surrounded by gold. Civilized nations
have put value upon gold and silver,
and for centuries they have gone hand
n hand, and have been regarded as
precious metals. Their union is COM
menced in their cradle, as there is no
gold mine which does not contain sill
yer and no silver mine which does not
contain gold, and trying to dissolve
their bond of union in furnishing the
people with money, has caused much
trouble in the world
Their varying value is subject to
the varying opinion of men, and so
long as free coinage is given to gold
the bullion will remain at parity with
coin. If free coinage of gold were
stopped by nations, the bullion would
fluctuate in price according to the
supply and demand and differing
opinions as to its value.
Money Used in Internal Trade OF
Countries For the internal trade of
countries, each nation adopts its own
currency. England has adopted gold,
silver, copper and paper, composed OF
pounds, shi1lings and pence, but has
limited the amount of legal tender sill
yer to two pounds (ten dol1ars). France
uses francs and the subdivisions are
made of gold, silver and paper, but
silver is principally used and gold
boarded. Germany uses marks made
of gold, silver and paper, but gold is
used very little except for boarding
The United States uses dollars an6
cents, composed of gold, silver, nickel
copper and paper.
The internal arrangements of coun
tries in regard to the currency or what
it is made of is a matter with which
no other country has to do, any more
than they have to do with the language
which shall be used. These are pure
ly domestic arrangements. 1t may bs
remarked that We are so closely allied
with other nations in commercial
affairs, that we must adopt the cur
rency of the world. This is erroneous
excepting so far as trade between mer
chants of different nations. l NIGH
ask, why should we not all use tn,
same language, as that is in more con
slant use than money? "When il
Rome, we must do as Rome does.
When we go to England, we use Eng
lish money, and when we go to Franc,
we use French money. When IL
France you find people who speal
English; when in Germany you fin,
people who speak English, but thes
: circumstances do not altar the fac
that Frenchmen speak French AM
use French money, and Germans speal
German and use German money, an,
| the people of the United States speal
, English and use United States money
Governments Should Provide PROBE
p CM'rency.-The duty of a government
is to provide proper currency so tina
the people can have the best facilitie
o tor the exchange of products, etc
Y This is done in this country by tn
p United States government stampin,
1 gold, silver and paper SO that mer
: chants can trade among themselves
t or they can buy goods in Europe an,
arrange to pay for them in gold, O
they can sell in Europe and arrang
/ to receive payment in gold, which i
l. the metal employed because it can b
# recoined into money free in the coun
l. try to which it is taken. If silver ha
e free coinage, as it used to have, j
> would often be preferred in settlement
y as it is needed in Europe as well as i
A.