The independent. [volume] (Lincoln, Neb.) 1902-1907, 1903-08-06
Money and the Taxing Power
BY w " Il AASHpy.

be valueless except for use In the arts.
However, the question thus raised
has no bearing on the issue. Govern
ment has no more real concern IN
what is meant by value" when thus
applied to "coin," than it has with the
value" of the gamblers chips in
game of poker. Those receipts are not
properly issued to become valuable or
otherwise as merchandise. They are,
when legitimately issued, simply q
means Of collecting in advance taxes
to fall due hereafter, for the support
and maintenance of the government is
suing them. In order to induce people
to willingly pay their taxes not yet
due, by delivering. to the govern
ment needed services and conmodi
ties. the receipts given those who thus.
advance taxes are by statute given the
power to become peremptory proof OF
payment thus made, by their tender"
againsg all tax levies and judgments
lin the public Offices and in the
courts"
What use the bearer may make of
them, between the time of their issu-
ance and the time when they ar. TAX
en- up and destroyed by the govern
ment, is matter of indifference to the
government Whether their posses
sors keep them in safe deposit vault
or bet them on horse race, does not
in the least concern the government.
II the power to perform beneficial SER
vice for mankind, with which vast
quantities of perishable wealth is en-
dowed, seeks to be preserved from de-
struction by being invested and stored
up in these receipts, that likewise has
no interest for the government It's
the power to issue then as a mean;
of exercising the taxing power, by an
ticipating future revenues, to accom-
plish which it simply makes them
good as receipts against future tax
leyies "in the public offices" and also
against judgments 4in the courts
Government does not undertake to
give them any power or function ex
cept IN those two places and for those
two purposes. 1t is immaterial to the
government and to the public whether
the holder of them shall be able to OBJ
tain in exchange for them one bushel
Of wheat per dollar" or ten bushels,
or whether ne obtain three per cent or
thirty per cent usury for the loan OF
them; that is dependent upon many
conditions, among them the shrewd-
Eess and cupidlty of their owners AMI
their power to monopolize them.
The controlling consideration in is.
suing them is what we ought to fix
our minds upon in order to understand
their nature-and not how people may
dfterWard employ them in the yolun-
tary transactions of the private bate
against each other for a living, in
which human life under the present
order consists.
The fallacious notion, instilled into
| the minds of people by the "authori-
ties in economics" that "coin" "facili-
| tates the exchange of commodities for
each other" here rushes to the res
cue. But we have already seen it dem
cnstrated that it is the uncoined
money symbol which accomplishes
that, and that "coin" has no part in it.
The whole rotton fabric of pseud- ideas
upon the subject of money" ami
coin" must be cleaned out of the mind
before any real knowledge upon the
subject can effect lodgment there.
Let it be indelibly impressed upon
the mind that money" is a device in
stituted for use in the public Offices
and courts in order to enable govern
ment to justly exercise the taxing
power, and to administer justice, by
expressing quantity of value in tax
levies and judgments; that it's use in
those two places constitutes it's sole
junction and is there made mandatory
4 Let it be likewise fixed in the mind
that the sole object governments
should have in exercising the power tc
coin their money, is that they may al
once gather the taxes for future years
for their present use, by giving re
ceipts called Coin to those who thus
anticipate payment of future taxes:
and in order to enable governments tc
co this, those receipts, called coin
are by statute made peremptery re-
ceipt, by their tender in the public
offices and courts against tax levies
, end judgments. I,
, Neither money" nor "coin" has
any other proper or distinctive func
ton. 1t is solely with view to the
, accomplishment of these aims thai
:. |