Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-12-27
I. INV ELY e P AGES
WEDNESDAY. DECEMBER q, 1890
AsH-cAKE.vERsUs PoUND$cAKE.

THE readers of the Virginian- Pilot
4 well [recollect how 1t has often illus
strated the mutual relat ons of gold and
silver as money, by the relations OF
wheat and Indian corn to each other
IS as bread, or food. This illustration was
II once very notably made in these col-
.umns by an editorial parable entitled
Sss.iAsh-C Cake versus Pound Cake" of
81 which Mr.. William j. Bryan. then Mt
{ Richmond to speak, expressed his high
~ approval to representative OF this pa
per- The object OF that parable was
.¬ to commend ash-cake as the sole
bread of the people, nor silver as their
exclusive money, but to demonstrate
Il the evils of n monopoly OF either gold
* or wheat; and to show further that
while silver and corn supplied the poor
&and the general public when they were
unable to obtain or use gold and wheat.
1.-THE supplies of silver and corn equally
E and alike operated to increase the vol
K umes of currency and food and thus
l. bring even gold and wheat more With
In the reach and use, to more or less
& extent, OF all. The Illustration was pat,
Il administrative end unanswerable. and
3 we refer to 1t now, not only because 1t
rs always in order in the discussion OF
I gold ono-metallism, or gold-monop-
oily, but because in the discussion of
the currency bill In the House OF Rep
resentatives, Mr.. Sims. Of Tennessee.
. nptly employed the mutual CO. operation
OF wheat and corn to illustrate his ar
5:gument in favor of the restoration OF
s silver and bimetallism Said he:
81 have often heard 1t said that You
can not legislate value into silver or
,5out OF It. nor can you legisiale value
into or out OF gold; that he value OF
these two Metals is due alone to their
= intrinsic qualities or properties. l adj
& nit that in SO far as commercial or eX-
), change value depends upon the intrin-
'9stc qualities or properties of either gold
fEOr silver you can neither add to or take
away by legislation. But commerclal or
exchange value are not Synonymous
Commercial OF ex ehonge value DOES not
Il depend alone upon the intrinsic quaii-
tiles of gold and silver.
Commercial or exchange value In
b Glpdes all elements OF value CONNER
t5cieltor exchange value Is the value pos
K scased by money and can be and often
g}}1s very greatly affected by legislation.
s Commercial or exchange value OF any
Enrticle is equal to the sum OF all de-
\ mands for3it, Where Il demand for an
s article is either increased or dc creased
Shy. the effect of LEGISLATION its exchange
Y or commercial value Is affected accord
asinglyIand does not depend alone upon
the intrinsic properties OF the parlicuIaT
article OF merchandise or property so
\ affected.
.f Now wheat rs n grain has higher
i intrinsic value than corn: it also has
higher commercial or exchange value,
x These two grains are used as food by
n tho human race. Suppose tha., for san
sttarys reasons, the use OF Indian corn
y as an article of diet fer human bajngs
y should be prohibited hy legislation.
what would be the result? The ex-
change value Of corn would fall willis
the exchange value of wheat would in
crease. Why? Because 50 much of the
y demand for corn as was caused by Its
usei as human food has ceased; VT corn
retains all the elements Of intrinsic
value It ever had, and its fall in prize
ia due alone to unfr.endly legislation
while, on the other hand the price or
commercial value of wheat has bsen in
,4creass ed, jas more wheat or its products
Unjust be Suseds Iii order to- AXE the p'ace
ofsthe products ofi5corn the use OF
which has beenIprohibited by llegisla-
Z tion. Duo to 6tl,istcause, wheat advances
Gin all the rr,arkets Of the world. While
THE intrinsic qualities OF wheat HAYS
srteither,S been sndd edsto nor taken aNfiy
tssbys q tsla ton. # ehsa m would also be
Il true man d herSp 20 Inc IS 81,
5Sts ne 81 use 4 OF cot ton&;in the
3 sturs III DC n prohibited,
s.