The representative., 1901-05-09
Three Of . Kind.

OF KIND, neither one Oh WnOm seems
inclined to quote me correctly or to
attempt to offer evidence to contradict
that which offered.
But that is not the worst Of it. They
will not even quote the treasurer Of the
United States in full, but garble his
statements, leave of the vital part. and
then Nelson insinuates he Is mon
key or liar" Such tactics do not be-
come men who are in search Of truth.
In your issue of May 2, Nelson says:
"By the manner in which Maben asks
the question, he makes the treasurer
appear to make a monkey or liar Of
himself, for he answers: Gold coins
are not a legal tender meaning, Of
course. clipped, worn or damaged
coins received at the mint for recoin-
age"
BY reference to my letter in your is
sue of April Is the reader will see that
my question to the treasurer stated that
1t was asked on purpose to settle the
dispute between Nelson and myself, and
the treasurer's reply, published at the
same time, says: Gold coin is not a
legal tender, nor is it receivable by the
government at its nominal or face value
when reduced in weight below it's limit
Of federation provided by law for the
single piece" And in section 1886, i'm
mediately following, the reader will see
that the law says gold coins when re-
duced In weight below such standard
and tolerance shall be legal tender at
valuation in proportion to their actual
weight" When gold coin is reduced in
weight below one-half per cent it shall
be received, thus proving conclusively
that weight, not the stamp governs the
nature of the coin. In face OF these
facts every fair minded person can see
who is beaten in this argument and who
it is that garbles, squirms and "dodges."
The government receives millions of
dollars in gold every month for reve-
nues, land, stamps, etc., and we may
all rest assured that no light weight
value. Weight is the test: stamp cuts
very little figure, not over one-half per
cent. The same rule applies in all
monied institutions
Nelson was surely mistaken in his
assertion that value of gold coin rested
In the stamp and he is beaten in this
argument. Now let him own up like
man.
]. J. Carlisle's letter, published by Nell
son. dated Nov. /, 1894, corroberates my
letter received from Ellis H. Roberts,
dated April 6. 1901, and published in
the Representative April 1S. Carlisle
says: ANY minor coin that is defaced
so as not to be readily identified, or that
is punched or clipped will be redeemed
minor coin," which means fractional
pieces. pieces that are stamped, bent
or twisted out of shape, or otherwise
imperfect, but showing no material loss
of metal. will be redeemed" Notice
again that mo material loss Of metal"
means to weigh. and that weight is thus,
even in Nelson's proof, placed above the
stamp.
Nelson says: "The law says that they
(gold coin) are legal tender ct their
nominal or face value" Now, l demand
that Nelson gives us the title, date and
place to find "the law" which says any
such thing. You cannot find it, Mr..
Nelson, there is no such "law." Go to
your circular" and you will find that
the claw" referred to fully states that
the coin must be up to standard weight
and fineness. Go where you will, cap.
and you will find weight" staring you
in the face.
man. take it for granted that money is
a measure Of value" when, as matter
of fact it is medium of exchange"
and only incidentally can be said te
measure values. Again, 1t is only in
minor coins and greenbacks that the
stamp determines the value and that
here, too. there must be no mutilation
s. M. Fairchild wants to put words
in my mouth to his own liking and then
on the strength of such statement to
preach a sermon on greenbacks. l in
slst that he quote me correctly and that
he stick to the text, viz: Should money
be composed Of something having COM
mercial value?"
Nelson says no; l say, yes.
When we say money we mean that
which Is used as a medium of exchange
and is legal tender for debts public and
private, and do not confine the issue to
the United States, to England, to China
or to any other nation, because when
you talk of any one nation and advocate
a purely credit" money, such as green
backs. the question of the nations credit
and ability to redeem it's promise i'm
-mediately enters into the discussion.
John Laws credit money" in France,
over hundred years ago, was gigantic
failure. Paper money in the South
American governments have proven bad
failures and in the United States, in the
early part of the century, was a total
failure;- and even during the years
from 1860 to 1870 did not give entire
satisfaction to our people, and especially
do we hear of the old soldiers making
vigorous complaints, even to this day,
because they were paid in deprecated