The representative., 1901-03-07
OUR :FORUr1
Money Il Not a; Comm Odity.

We have shown, In preceding articles,
that money is wholly creature. of law.
The laws of congress create it, and the
the United States that can depreciate or
destroy it. "f
There is no such thing as a cheap or
dear money. 1t is the legal unit, the
starting point, in which all values are
named, carried or exchanged. Prices of
commodities are fixed in the minds of
people, just in proportion to what it
costs to transport and exchange the COM
modities for cash, and the disposition
and ability of the consumer to purchase.
The price of commodities are also fixed
by the supply and demand; If for any
short, the demand becomes 80 great that
cause the supply of any commodity is
the price per pound bushel, gallon or
yard goes up.
1t is also true that prices are affected
by the amount of money in circulation.
If there is a plethora of money, every
one can readily dispose of the products
of their industry at a good price, and
this enables them to buy and pay cash
to others for the products of their in
dustries, and as a result each has a
plenty of cash: and inasmuch as all in
dustrious people produce more than
they consume, the sale of their pro-
ducts readily brings them cash, which
gives them plenty of money to buy and
pay for all necessares and comforts of
life, and have surplus of cash left.
But when money has, for any cause,
become scarce, then the people are COM
PEELED to use their commodities just in
products of their industries bring in the
markets. This makes less money in the
channels of trade, and compels each, il
they buy at all, to buy sparingly. They
are glad to be able to buy the necessaries
of life, and rarely If ever indulge in any
thing that could be considered a luxury
For this reason, when one puts his goods
on the market, those being but few who
have the money to buy, the price Of
goods are put down, so as to induce peo-
pie who have little money to part with
it in the purchase of commodities
1t is these sales, which establish the
prices of the commodities. but it has
nothing to do with the price of money,
because commodities, are measured by
dollars tho 1oro1 1pnit
of this nation, as we'll as all debts,
taxes and accounts, either in or outside
of the country. 20
The money of the. nation, the legal
unit is not ever legally measured by any
commodity, for this simple reason, the
money Of any nationals the fiat of the
sovereign of the nati1n, who on it's face
says this is the legal unit, the measure
of all values, it tonAmnds and mea-
sures all property,Iit commands all my
people and the courtst to conceded this
fact. that any person presents those
units in sufficient number, they must and
shall be relieved from all debts and
taxes, national. state and municipal" :"
Property cannot be used to accomplish
this purpose; hence the necessity of hav-
ing all that circuletes as money full le-
gal tender for all transactions, both pub
lie and private. When it is not a full
legal tender, the public are liable to suf-
fer loss. Anyone, who exchanges his
property in one state for currency which
is par in that state, but when offered in
another state, where it is not well estab-
lished, is liable to have to part with his
currency at discount The one great
stock argument in favor OF our national
bank currency is that it is good at it's
lace value. dollar for dollar. in any state