The independent. [volume] (Lincoln, Neb.) 1902-1907, 1903-08-13
BOOK 2.-Chapter XIII.

looked the real nature of the two dis
tinct things, properly called money"
and "coin,' and have treated them as
IL they were one-and that one, "coin"
alone.
They have never fathOmed the fact
that those two things constitute an es-
sential part of the vast mechanism re-
CURED to operate the taxing power.
They have devoted themselves to
er diess confused and rambling discus
siOns concerning wholly imaginary
acts of measuring value" and me
dating exchanges" attributed to coin.
being wholly ignorant of the existence
Of the thing which is money and
which performs the acts meant by
these phrases.
They have shown utter ignorance OF
the fact that the necessity to antici-
pate the revenues to meet an emery
ency is the necessary and sole reason
out OF which sprang the power to coin
money; and that such money is coined
solely as a means of sustaining govern
ment, by enabling it to utilize today
the revenues of the future; and that it
coins it's money as receipt which
is, by statute, given exclusive power
by it's tender in the public offices
and in the courts" as conclusive
proof that it bearer has already paid
the quantity of value expressed upon
the face of the coin in taxes TO fall
due in future years; and which per-
emptorily cancels the tax levy or the
judgment against the bearer.
Not knowing of the existence of the
great office to which coin" is thus ap-
pointed, these economists have re-
called the world with mere jargon
about it's being a medium Of ex-
change" "a measure of value "a
standard OF deferred payments "a
circulating medium" and "a sound
currency for the people.
Ignorant of it's true origin, and of
the paramount function for which it
exists, they follow it. in al, its wan
behring's where it is used by voluntary
adaptation as a mere commodity and
performs no funo ton not performed by
any other commodity in equal demand,
in vain, fruitless search for light
concerning it; and finding none, have
landed the world in an intellectual
quagmire, where it hopelessly found
erS.
The question where here demands
an answer is, How came this power to
anticipate the revenues" of a nation
by exercising the power to coin it's
money to be abdicated by governments
and turned over as a gift to the
owners Of gold? Why does not gov
eminent in every civilized land exercise
| this power for its own ben eff !,
instead of giving it to enrich the vast
combination which has cornered the
gold of the world and holds chattel
n ortgage bearing usury upon every
grain of it in human possession?
The secret is not far to seek.
/ History records that Queen Eliza
beth, by virtue of royal power, gave
| to the Earl of Essex the exclusive
right to bring wines into England and
| tc sell them there. Other monarchs
had their ''favorites" and upon these
they lavished as gifts the lands and
castles belonging to the crown The
exclusive right to deal in coal was
granted to favOrites in England.
Greed ever seeks a monopoly. Off
cial positions, utterly useless and de-
void of public duties, with enormous
revenues attached, have been created
and conferred as gifts upon the fav-
critics of government. We may SEE
dimly that metals, on account of theil
durability, in barbarous and Ignorant
ages (among people unable to manu-
facture silk fibre paper would be thu
most suitable vehicle upon which tx
place the receipts under consideration
Gold and silver especially, on &C
count Of their malleability, their free
dom from corrosion and their divisa
bility, in an age ignorant of manufac
lures, and Of the superiority of silk
,, fibre paper, were pre-eminently suita
able as means of carrying those re
. ceipts. 1t naturally came to pass tina
all other substances were rejected 70
this service. The laws finally Unite,
the stamping of those receipts to thos
two metals.
The government alone possessed TIL
power to coin it's money 1t was a
e first the kings gold and silver, how
ever, that was used; and the king, hav
s ing stamped his money" upon h
= gold or silver, exchanged it for need
ed services and commodities, know
L ~