People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1898-01-14
THE POWER AND GS52SS; OF MONEY.
An Able Review of What u.s. What Can do and How Affected
by the Statutory Law.
SEVERAL BROAD PROPOSITIONS FOLLOWED BY ABLE ARGUMENTS
An Easily Your Neighbour
The Best Campaign Material of the Year to Circulate
Concise,6fea Statements That Can Not Be
let by Partyites.
III. H. Hogan.

H. HI. Hogan.
This article dedicate to posterity, well know
ing that the people of the present aga are
too bigoted to either understand or appre-
ciate its teachings
lay down and will prove the follow
ing proposition
Proposition.
When debt has been honestly in
Cured for value or worth received that
debt is never cancelled or paid till an
equal value or worth has been return
ed for it in full.
Money pure and simple is in no sense
value, consequently cannot, and does
NOT pay individual Indebtedness
What is Money?
Is money the sum of all values P
Jones, Weaver and others.
Does it represent values without be-
ing possessed of them, or has it mon
ey value distinct from intrinsic value?
MANY old-time Greenbackers.)
Is money in any sense valued
line last of these questions only is
mine, and will prove that the answer
to each and all Of these is no,
Aristotle, W. lived in the fourth
century before Christ, declared that
money existed nowhere in nature, but
was a creation of law. But money is
more than creation of law, and while
Arlstotle's declaration is true, he does
not define and tell what money really
is. The only definition l have ever
seen that cannot criticise is one put
forward by myself a number of years
since, now see no reason for changing
it:
Money Defined.
"Money is the law, will, edict or de-
cree of the sovereign stamped, printed
or impressed upon SEINE substance sus
ceptible Of receiving and capable of
retalN>%g> the impress of such stamp,
seal or impression, and the substance
so stamped carries with it not the val
ue of the substance, but the law, will,
edict, decree or fat of the sovereign to
every subject OF, his realm"
Law an EzerOaSe OF Arbitrass3Powes
The existence of law presupposes
a creator endowed with arbitrary pow
ers to promulgate his decree, and the
validity of that law rests entirely in
- his powa& to enforce his decree. The
I fsws of the Almighty presuppose an
omniscient Creator whose laws are of
universal application, which, however
arbitrarily put forward, are equally
binding upon all, and beyond all posi-
-bility of repeal, The laws OF coun-
try presuppose a sovereign or power
endowed with plenary and unquestion-
ed rights g sP-lt~ forward and enforce
those laws, but those laws are of no
force outside of his own domain. The
laws of the parent to the child presup'
pose the right in the parent to put for
ward and execute those laws, but here
his powers do not extend beyond his
own child.
How the Money Law Differs from Statu-
tory Law.
1 have defined money to be the law
of the sovereign expressed upon some
substance. Here it differs in no sense
or decree of the sovereign expressed on
some substance, generally paper. But
it differs from statutory law in this:
If the same statutory law is printed or
stamped on ten thousand different
leaves, on all it is the same statute,
whereas If the same money law is
stamped or printed on ten thousand
different leaves each separate leaf is an
entirely separate, distinct decree of
itself, having no reference to any other.
The Law Creating Money Statutory.
The law creating money, the sub
stance to be used, the size, shape,
amount of debt-paying power inscrib-
ed thereon and every step in its crea-
ton till it is turned out finished pro-
duction at the mint or place where it is
manufactured is statutory but each
piece of money, when coined, is a
statute of itself.
Each Piece a Statute in Itself.
Statutory law depends for it's validi-
ty upon the power of the sovereign to
enforce his decree, and in this respect
the money law is the same; it depends
for it's validity upon the power of the
sovereign to enforce his decree, and in
no sense upon the value or~N~1Sorth of
the substance upon which it is stamp
ed.
Statutory laws may be different de-
crees on various subjects. The money
law is always the same-the substance
bearing the decree must be taken in
cancellation of indebtedness by every
subject of the sovereign to the amount
specified in the decree upon the sub
stance.
But the chief distinction between
statutory and money law is in their
administration. While statutory laws
generally are administered by men
elected or appointed by the people,
commonly called officers of the law,
the possession of money constitutes its
possessor an officer OF the sovereign,
empowered equally with him to exer-
else one of the very highest attributes
of sovereignty-the power to cancel
debt whenever found in the realm of
the sovereign, without other process of
law, to the amount specified in his
warrant of office the amount of mon
ey in his possession.
Money in Realty and Money in Use.
One great difficulty in understanding
the money question arises from the fact
that people do not consider the differ
ence between money in realty and
money in use. The completed locomo-
tive standing in the shop is very diff