The representative., 1901-05-09
SAN FRANCISCO, May 1. 1901.

EulIoI T. "A. lWlCcneil-Dear Sir:
In my last communication I said that
the three factors which most vitally af-
fected all civilized peoples were pro-
duction, distribution and money. The
two first spoke of in that letter, and
now for the third factor: Money
Money is an artificial creation of law,
a representative made for. the purpose
of facilitating the manifold exchanges
of an Industrious people.
It's functions are, first, q representa-
tive of all other values; second, a suf-
ficiency for the demands of trade; third,
to be kept in continued circulation.
On account of the prevailing ignorant
beliefs. that the value of the dollar de-
pends upon the material of which it Is
made: and therefore the precious met
ais. gold and silver, make the only real
money. That this property is inherent
in them, being money without regard
to law or consent
That our greenbacks are not money.
only currency, and the only reason they
are accepted by the people and circulate
as money, lies in the fact or supposition
that somewhere there is buried and out
of use several hundred millions of gold
dollars kept there for redemption pur-
poses.
This belief keeps money scarce, far
too scarce for the demands of trade, and
allows privileged class to control and
manipulate it, to the detriment of the
great mass of the people. And in con-
sequence these privileged classes be-
come unjustly the controlling and domi-
mating power over production and dis
tribution.
And it Is not compulsory on their
part to even live in this country, much
less own the land. For in controlling
the money supply they indirectly mo-
nopolize the land. We, although the
nominal owners of the soil, are really
their vassals, giving to them in spite of
ourselves, through high interest on
money, all the products of our toll, ex-
cept just enough for bare living.
We know that yearly thousands Of
worthy people On this account being
unable to make even a bare living, are
forced to tramp, suicide or starve. And
in this country today, like in all coun-
tries and in all ages. the money privi-
legged classes are not in sympathy with
the masses. but work solely for their
own aggrandizement.
Of all the horrid superstitions tha.
have been handed down to us from the
dark and remote ages, this belief in the
precious metals as making the only real
money, and in the financial redemption
of paper money as a necessity, is the
most blighting and desolating Of them
all. In it's effects on the present and
future welfare of mankind, as it surely
has been to the generations of the past
And never can man walk erect, free and
independent, as nature and civilization
intends he should, while this ignorant
belief enthralls them
This belief has taken the money away
from the people. And, in taking it
away, has made them helpless, depend
ent and discontented. And also easy
victims to the political wiles of wicked
and crafty men. 1t has taken away
their lands and homes, their leisure and
comforts, and has made of them toiling
wage slaves, tramps, maniacs and sui
cides.
But If the people can be made to un-
derstand that money should have no
value: that the less commodity or COM
mercial value 1t has. the better off are
all the people; that when you destroy
its commodity and commercial value by
making it of paper and plenty of it. you
very much increase its use value: that
the food we eat and the clothes we wear
ETC., are the real values.
That money is only used as medium
to facilitate the exchange of those
things which we individually consider
of value. Once we can get the people
to see this point, we will have money
in abundance to exchange for an abund-
ance of other things Monopolies of all
kinds would become but hideous
dreams of the past, and peace, con-
tentment and happiness would reign.
AS all money is fiat, being made a
medium of exchange by enactment of
the governing powers, why should it be
made Of gold or silver any more than Of