The independent., 1903-06-18
Money and the Taxing Power
BY W. Fl. ASHBY.

gle is value" The fact is, the value
OF the cow in such case might be ex-
pressed in money as $40; by which
would be meant that the quantity Of
the force of demand for the cow at
the given time and place is ten times
the quantity adopted as the unit; =
and not that certain weight of metal
is its value" This is to say that
metal is value"
If the urgency of mems needs drive
them to expend their energy to OBJ
tain gold coin, by the sacrifice of a
great quantity OF services or commod-
tiles, it is because that gold coin is
endowed by statute with exclusive
power to perform for them an urgent.
beneficial, statutory service, which
nothing else can perform; and be-
cause the force of demand for it l.,
thereby made intense. 1t is its ey I.
elusive endowment by statute with
that power to do beneficial statutory
service. which causes the force of de
mand for it. 1t is not because the
metal, gold, may be used to fill de-
cayed teeth, nor because of it's density
or beauty; but because by statute it
Is made the only vehicle to carry
about governmental certificate which
is endowed by law with the exclusive
power to perform beneficial statut-
ory service for men, the performance
Of which is imperious and it's need
universal, that there exists the enor-
nous intensity of the force of demand
for it, everywhere in action.
The quantity of value placed upon
everything, under the conditions ex-
listing among civilized nations, is de,
termined in every case by the quantity
OF the force of demand for such CON-
modify endowed with utility and CAP
able of exclusive possession.
1t Is to be observed now that the
use of "the standard OF money" which
is the money symbol" is by the
statute made mandatory "in the pub
lie offices" as an essential part of the
mechanism for tie exercise of the
taxing power, and is also mandatory
"in the courts as part of the mechan-
ism for the formal administration of
justice. SIN the public Offices" tax
that symbol as means of expressing
quantity of valuation. "In the courts
judgments must be rendered by the
use of that symbol as a means of ex-
pressing in judicial proceedings guam
tity of valuation. Its use is not
mandatory in any other place. Wher
ever else it is used, that use is volun
tary and incidental merely.
When that symbol, aided by numer-
ais, (Which is our money! is coined
or stamped upon any chosen SUBJ
stance, the, resulting coin emanates
Cor at least should emanate) from the
public offices and go in exchange for
services or commodities needful to
carry on governmental operations,
and which are paid in advance of a
tax levy by the taxpayer; and its use
is by the statute made exclusive and
mandatory "in the public offices" as
a conclusive receipt, by it's tender,
against tax levieS; and in the courts
as conclusive receipt, by its tender,
against judgments.
Its use is not made mandatory any
where else, and any use made of it
elsewhere is voluntary and optional.
1t has conferred upon it by statute
an office to perform in those two
places, the performance of which is
beneficial to men; which nothing else
can perform, and it is not appointed
to the performance of any Office else
where.
Its official function is to perform the
office of conclusive proof of previous
payment, and as receipt by it's ten
der in those two places-and not else
where.
1t is (or at least ought to be) is
sued by the government in the exer-
else of the taxing power, as means
to anticipate the revenues of future
years, when government is for any
reason in distress.
This is the sole object in clothing
governments with the power ito coin
money" No consideration Of the
in aginary duty of furnishing the
people with circulating medium"
had any part in it's origin. 1t per-
forms no Office when thus voluntarily
used. In all such uses it is voluntarily
employed as an imperishable and con-
venient commodity in which to store
up evanescent wealth subject to van