People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1898-01-14
equal to the value or worth of the SUI

equal to the value or worth of the SUI
gar.
The Sovereign CircuIates His Debts for
Money.
From B he receives piece OF paper
bearing a communication from the
sovereign addressed person ally to d,
informing him that by decree he had
empowered B to offer this piece of
paper in full payment of his indebted
ness of twenty dollars, and that, unless
accepted, payment would be forever
barred. The individual indebtedness
of B to D ceased at the moment OF the
transferral of the twenty dollar green
back, and B has no further interest or
concern in the debt Up to this point
the DEGREES on the substances and
transactions have been the same, but
now comes a change. A gave sub
stance the commodity value of which
was twenty dollars; B gave him a
substance the commodity value Of
which is not one cent.
DAU 1NOb NJ tAAO ACOOo Va Os
Now, if it was value that paid the
debt of A, it certainly was not value
that paid the debt of B, for debt can
never be value, though it may or may
not be worth, and when the sover-
eign put out that Identical greenback
he made debt against himself of
twenty dollars, and in making up the
account of his possessions this green
back is minus quantity,
The Sovereign Forces ID to Transfer BIS
indebtedness to Himself.
What the fovereign really did in this
last transaction was to force ID to
transfer the Indebtedness of B to him
self, and D now virtually holds the
note of hand of his sovereign for TWEEN
ty dollars, payable on demand against
either himself or any of his subjects
Except the fat of the sovereign on the
greenback forcing to take it, the
transaction differs in no sense from
those of daily occurrence in every ham
let in the United States where the note
of hand, due bill or other evidence of
Indebtedness against some individual
known to be solvent circulates in the
community in full payment of indebt-
edness by mutual agreement between
neighbors. In the one case the SOW
ereign put forward his wealth for
money in the other he put forward
his debt for the same purpose,
ID Removes the Stamp from the Gold Piece
and Greenback.
To show more fully the difference be-
tween the two substances used, sup
pose that while in the possession of ID
he removes the stamps, or edicts, from
both pieces. When he removed the
decree from the gold piece he robbed
his sovereign of twenty dollars with
out enrichiug himself in the least, and
has made Of the twenty-dollar piece a
commodity that he can sell the same
as he does his sugar, wheat, -four or
any other commodity. When he re-
moved the stamp from the greenback
he virtually destroyed the note of
hand OF his sovereign to himself, there
by robbing himself of twenty dollars,
and enriching his sovereign by that
amount; that is, one of the notes of
the sovereign for twenty dollars has
been cancelled.
d Is an Importer and Sends Both Pieces of
Money to His Sovereign.
Instead of effacing the decree, sup
pose that D is an importer, and owes
his sovereign forty dollars for duties,
and sends these two identical pieces of
money in payment. In the hands of
the sovereign the gold piece differs in
no respect from his other property
and he alone can deface the seal with
out committing crime. When he re-
ceived the greenback from D for duties
to the amount of twenty dollars he
simply took up and cancelled a debt of
his own, made, it may have been, ten
fifteen or twenty years before, and in
his hands that green back is of no
pect from the note of hand of an indi-
vidual with the name of the maker
torn off, and should he ever again put
it forward he will again incur debt of
twenty dollars An objection may be
here raised that the greenback is not
money in realty, but is merely a
promise to pay gold. In theory this is
tire, but in use it is endowed with all
the powers of gold, and in sums of less
than fifty dollars tits money in realty.
(To be continued,)