The Farmington times. [volume] (Farmington, Mo.) 1874-1902, 1899-09-28
MONEY.
issn Onty sy fh~ Ffat of
Gsvernmeat.

HANA A&hANtNNH i've tAt sNAhNAR
admit the proposition 40 far as papei
money, bank currency or even silver
coin Is concerned, bu, gold coin. the
only intrinsic value. God created money
neverl Away with the idea. cruelty
hang. draw and quarter the base
iconoclssi who would dare TO utter such
SANDER against the foundation oil
the world OF credit, the keystone Of
the arch Of prosperity. We viii moi
be dismayed. however. " meme Of oui
readers agree with our statement a
once. We win examine the idea little
We will try 10 prove that money, even
gold money, Is m much eyldencr Of
deb; - Is note OF hand. the only dli
ference being that money l. eyidene,
OF public debt, while a note Of hand b
evidence of individual debt. There arr
two absolutely essential elements
In money, aad only two, gov
eminent stamp, and legal tender
quality. Money cannot, never did
never will, exist except by tbs
Fat OF stable organized government
Such stamped or shaped metallic discs
as served the purpoas OF medium oI
exchange before the existence OF stable
government, were not money. They
were simply merchandise that appealed
90 the personal vanity Of barbarou
peoples. They had no settled price
They were traded for at agreed yalua'
tioBs In other merchandise. surh NJ
coon skins, meat, fish or bread. They
would not satisfy debts except by
agreement. Such they would remain
to-day but for the legal-tendcr quail
iiy impaired by law. The fact that
government might stamp and certify
their weight and fneBrss would no;
make them more desirable. People mol
vain enough 20 desire personal ndorn
meni would not accept them In cN
change for commodities. II will b,
admitted that legal tender quality can
be impaired only by set Of government
II will be admitted that when govern
ment puts i,s stamp on paper, makes il
legal tender and sends II out, that Il Il
accepted Of the haHds Of government
In payment for services. aud be who re,
ccivcs 1t has nothing. until he has ex.
changed II for goods II will be admit,
ted that this Kind Of money IL mere.
Is the evidence that he who holds II .,
entitled to some service. that he hat. d.,
rcctly or indirectly, rendered service
90 the whole people, that In fact the
whole people are indebted to him an
amount Of service represented by hit
paper money. But gold coin, THE
hardy miner goes into the waste places
OF earth and brings ;hercfrom al the
expense Of great toll and danger the
precious yellow metal. brings II 90 his
kindly government. which stamps and
hands It back to him, he has rendered
government no service. he IL entitled
70 no service in return. he simply takes
his glittering coin and everybody
tumbleS over his neighbor for a chance
~ trade him goods for IT," Are you
quite sure that Is all there Is 10 the
transaction. that he gets just what he
gave the government? "Ah. there's the
rub" Service 90 the government mny
be direct or indirect. direct ny filling
government positions. as mayor. gen
eral or humble private soldier, a. prcsi-
dent OF the United States, or as cusio-
dian of the euspidDrs in territorial
court room; or by selling goods di.
rectly TO the government for govern
ment use. Indirect by furnishing gov
eminent oflieers the necessari~s Of rx-
isiencr, by helping TO manufacture
government supplies, by furnishing
government the metal on which 10
stamp lis coin. The miner who brings
metal to the mint 10 he coined does not
receive back what he brought, lie
brought merchandise for which he il
Paid In money. money which ceriiiies
as much as did the paper money that
this miner has performed service for
the whole people for which he is en-
titled 10 equal service In return. He
will not have had this service until his
money Ia converted into goods that be
can use. The only advantage that gold
CblE bah pNFA NA1'E HibttN N thAA ~
can be directly converted into mer-
chandise, by destroying It's money
quality, and used by the holder pro-
yided he have skill In certain arts. Its
chief advantage Is thar II costs vastly
more In human labor than Its face
value represents. Good judges have es'
timated that II costs labor worth four
dollars for every dollars worth of gold
produced. Has the writer made Il clear
that money is merely evidence Of debt ?
II he has, he has furnished the key for
the easy understanding OF the money
question, OF all so-calIed economic sci.
encc. Of the financial operations Of the
world The principal difference be-
tween the issue of paper money and
the coinage of gold IL that the issue of
paper money Is, In effect, the coinage
OF the useful labor OF providing public
protection or producing public utilities
into money, while coined gold Is the
coinage Of the useless commodity. and
worse than useless. II IL n commodity
without which half the Ills Of the world
would not exist, . commodity. the cause
of nearly all that inhumanity OF man
TO man which Ia the worst feature Of
4.