The independent. [volume] (Lincoln, Neb.) 1902-1907, 1903-12-24

at any rate, the Appeal is guilty OF
socialistic heresy and treason to Karl
Mark. Proof: Read the issue of De-
cember 5, 1903, page 2, column A, this
item in Queries and Answers:
"ABOUT MONEY VALUE
How is it that while at the banks
gold and silver are at par, the monied
men tell us that the silver dollar is
only half the value of the gold dol
lar?-J. r. Greenwood, Chicago
Because the LAW says that the two
coined pieces shall have the same
power in the paying of debts. If the
law said that piece of copper the
size Of cent, which it coined, should
pay as much debts as a. gold dollar
and would be receivable by the gov
eminent for all dues, might circulate
just the same as gold in all transac-
tons, though the gold would likely be
used more in export business and
might itself be exported. But the bus
mess transacted with the copper would
be just as much transacted as If it
had been done with gold. Nearly all
transactions are now done without
either gold, silver, copper or even pa
per money--it Is done by transfer of
CREDITS on bank books. If the gov
eminent should issue a paper money
and refuse to accept anything else
than that money for dues to the gov
eminent such paper money would be
at premium over gold, il gold were
thus deprecated. For il one had to
pay the government, and no other
money but the government money
would pay it, each person would have
to get that money, as they ohce did
gold, even If they had to give two gold
dollars for one of such paper. The
commercial value Of silver and gold
has nothing to do with it's MONEY
value. The commercial value of gold,
measured by articles of wealth, is
very small in KlOndike."
Although stated somewhat crudely,
this Is populistic explanation out
and out. Those who have read Cap
tain Ashby's Money and the Taxing
Power" will have no difficulty in see
Ing that the writer of this answer had
glimpse of the light. But those who
have read Marks Capital" will be in
clined to doubt the Appeals claims of
being teacher of socialism.
Let us look at the socialist theory.
The value Of a commodity is the
amount of abstract human labor en-
bodied in it." Students Marx d. 81
Gold is now money, because it was
previously a simple commodity" I'd,
p. 14.) Gold has become money in
consequence Of all other commodities
expressing their value IN gold" cd,
p. I'D 1T (money) is commodity
like the rest, and its value is deter
mined by the labor-tlme necessary for
its production, and is expressed by the
quantity of any other commodity that
costs the same amount of labor. time. y
I'D. p. 22.)
OF course. populrst paper like The
independent ought to agree with the
Appeal and not with DR.. Aveling's
Students Marx; but how can a So
cialist paper thus repudlate one of Tho
fundamentals Of socialism? How could
the law" have anything to do with
the matter II DR.. Aveling Is correct
In saying that gold has become mon,
ey In consequence of all other com
modities expressing their value il
gold" especially in view of the fac
that Its value Is determined by tn,
labor-time necessary for its produe
ton" Could the law take q piee,
Of copper Qabor-time p and make /
pass on an equality with a piece o
gold -tlabor-time 81?
And. by the way, where do thos.
Tabor crystals" come In? How coul,
piece Of paper containing only ON
ol these be made to pass current will
piece OF gold containing tenY Elk
PLANTATION OF the explanation Is surol,
IN order. Mr.. Appeal 10 Reason.
Cyhun mn MI r. anu0aaN