Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1897-03-19
WHAT IS MONEY?
SOME EMINENT AUTHORITY.
NO. a..

Webster's Dictionary: Money is coin, stamp
ed metal, usually gold or silver, stamped by
authority and used as medium Of commerce.
Prof Walker in Political Economy: Money
is the medium of exchange. Whatever per-
forms this function, does the work, is money,
no matter what it is made of.
Prof. Jevons: Money is simply employed
for barteri1g, as ship for carrying. Its action
is similar to art's-it fetches for its owner
the things he is in want Of.
Rees Encyclopedia The intrinsic value Of
money was the idea in the days of crude bar
barism. The simplest and most perfect form
of money is that which presents nothing but
transferable debt, such as paper. 1t is only
when states have reached high degree of CIV
ilization that they adopt this perfect form OF
money,
Twelfth Wallace, SIG, Uuited States Supreme
Court: Whatever power there is over the cur
rency is vested in congress. If the power to
declare what is money is not in congress, it is
annihilated s.. We repeat: Money is
not substance, but an impression of legal au-
thorty-a printed legal decree.
Appeton's Encyclopedias: An article is de-
termined to be money by reason of the per-
Torrance by it of functions without regard to
its form or substance.
North British Review: Metallic money,
while acting as coin, is identical with. paper
money in respect to its being destitute of in
trinsic value.
Prof. Price: Money is tool of exchange,
and nothing more. 1t is not a measure OF
value, nor standard of value, nor a repre-
sentative of property. 1t transfers property
conveniently from one party to another, as a
wagon hauls goods from one place to another.
Alex Delnar in Science of Money: Moneys
are of great varieties. The palpable character
istic which distinguishes money from the nu-
merous subjects that resemble it, but which are
not money, is its mark of authority, siguifying
that it is issued, circulated and made payable
fo- debts, services, fines, taxes and commodities
by virtue of law.
Henry Cornucshi: Money is value created
by law "a statutory law. The value Of metal
lie money is created by law.
Attorney General U. S. (12 Wallace, U. S.
Supreme court report, page 500: The legis-
lation assumes that ia contemplation OF law,
money of every species has the value which
the law fixes on it; that congress has the con-
stitutional pow>r to say that ten pennyweights
of silver shall henceforth be the dollar and do
the office heretofore done by sixteen penny
weights, four and half grains.
Supreme Court of Iowa, Vol. I6: The gold
dollar is not commodity having an intrinsic
value, but money having only statutory value.
And every dollar has the same value,
without regard to the material. The
gold dollar has not intrinsic value. Money has
only statutory value. In business
transactions, gold is not commodity, but
money-nothing more nor less This gold has
and had statutory value. Legally, each dol
lar passes for one hundred cents, and legally it
has no other value.
Judge Tifany's Constitutional Law, written
before the war: There is legally no such thing
as gold or silver money. Money is the sover.
eign authority impressed on that which is capa-
BILE of taking and retaining the impression.
That upon which the stamp is placed is called
coin-the coin may be metal, parchment or pa
per. The value is in the stamp, and not in
the metal or material. n