The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1898-03-01

p.,sr Money All Needed --Barter in
SIusv an Evil---Alliancemen asked
- stand up for Principles Federal
Money an Industrial Money System :
Il is 4 Victory in Principle.
...o,.I correspondence of The Progressive Far
CHAPTER 8.
In previous chapters I have tried to
.o hold the minds of attentive readers
- the matter of true analysis OF mon
AZ in a simple way with plain language.
n an doing, we find two good or bene
gcial uses for it, and one bad or bane-
fl use use of it.
II now remains to show how these
three uses have been managed by the
novernment in promoting the prosper
itv aud happiness of the people.
The first, or measurement use of
money, has never been changed since
the adoption of the Federal money
table in Jefferson's time. This money
measure of value, though rather new
in form at the time of it's adoption, has
rroven itself to all the world a Ist
and eff ient measure of value and the
wisdom of our fathers in formula ing
and adopting it has been approved by
all the people.
The second, or record, use of Fed
eral money for convenience or com
putting ease has been admitted both at
home and abroad and our sold, silver
and paper when stamped for this sec
ond use of money, with unqualified
legal tender power, each with the
other, have been honored in use by all
the people and no disaster ave resulted
from such use, either TO individuals
or to the people collectively.
Unfortunately the simplicity of this
usefulness of money has been inter
fered with, overreached and circum
vented by what, in this ansly sis we
are compelled to call a third use of
money, which is baneful and not bene
fetal.
From this baneful use of money
arises the issue concerning money that
now c~ontronts the American people,
and t get rid Of it as nearly as posi-
bic is the question.
Referring back to chapter three, we
see that coined or stamped money, com
Diexedly considered, has two values,
that ia, the commercial value Of the
substance, gold silver or paper, and
second, che money value signl6ed by
the imprint or superscription fixed on
iLs face by law.
The substance is physical while the
superscrlption Is metaphysical. The
commercial value arises from the uss.
fulness of the material, while the
money measure Value is a creation Of
law.
The first value is relative and changes
under the common laR of supply aud
demand. while the money measure
value never changes except when law
changes it.
Our Government has fixed the
weight of gold aad silver that shall be
stamped with the unit (|ioIlar) of the
Federal money standard measure Of
value. No harm you'd arise from this
il they did not also enact-follo wing
the example OF old empires, that no
other substance than gold, with some
silver, shall be stamped with the legal
tender power of money; thus limiting
the volume of money, and thus pro
noting the third or trBm use Of money,
which uses it as G monumental com
modify at a price called interest or
usury.
We know that all commerce in its
ultimate result is barter of one physi-
cal substance for another substance;
yet that ls no reason why a metaphys
lcal agency (mOney) used simply to
laci'i5ate that barter, must also EN-
Oouy a physical substance, having it's
commercial value fixed by law to be
eqlaI TO the money measure value. ca
pecIally when the result is that il be-
come means of legal robbery (usury)
II the hands OF those who possess it.
1t Is not necessary to abolish tne-use
OF gold or silver, but it is necessary
'oa1 a substance, having insignificant
commercial value shall also be used
ana endorsed with power of none
showing the majesty of law as ex
pressed oy legal tender" so as to en-
large the volume Of money as we'll as
'SSoLVel 1t from the environments of
physical substance.
's now I5 the matter to which 1
'-ru % call special attention.
oOg and sell gold, silver and pa
"Asn No. stamped as money is a