The independent., 1903-07-02
Money and the Taxing Power
BY w. a. ASHBY.

because 1t is to the owner OF gold
alone that they are accessible, and to
him they are a gift freely stamped
upon his metal
AS a consequence of this iniQuity,
there is not grain, ncr nugget, nor
a band of gold in human possession
upon the earth, but it is played upon
by this prodigious quantity OF the
force of demand, generated by the
struggles of the human race as a
whole agains. each other for its pos
session-all concentrated upon this
Cne metal by statutes so cruel and in
human, and at the same time so sense
less, that no parallel folly and iniquity
can be found in history.
Continued Nc Week.)
tThe test of truth is that, approached
from whatever side, she will appear
the same. Captain Ashby, solely by
use of his reasoning faculties. has
reached the same conclusion as that
of Alexander Del Mar, who is par ex-
celienee the historian of the precious
metals coinage, money systems, and
kindred subjects: That when Ma
dame Roland adverted to the crimes
that had been committed in the name
of Freedom, she probably never
dreamed of the greatest crime of all
the Crime against Mankind" as
Pliny called 1.-THE "crime of pri-
vate coinage" (Science of Money, p.
81)
Captain Ashby and Mr.. Del Mar diff
fer somewhat in their treatment Of
value" but, after allowing for diff
ferences in phraseology, beth are a
unit in declaring that private or free
coinage" is not only wrong, but a
monstrous crime against mankind.
Yet strange to say both of these gen.
tlemen have heretofore assisted in the
movement to secure the free coinage"
Of silver and gold at the ratio of 16
to /!
What Captain Ashby has reasoned
cut by following his theory Of value
to it's logical conclusion, has been
shown to be historical fact, thanks
to the researches of Mr. Del Mar.
That is to say, that the statutes pro-
viding for "free" coinage are for the
benefit of the gold bullion gamblers to
the detriment of all the rest of man
kind. Under Captain Ashby's theory
that a "coin," i, the last analysis, is
properly nothing more than receip!
showing the payment of taxes in ad-
vance of tax levy (given for the pur-
pose of anticipating the revenues), il
follows that ''free coinage" is nothine
short of the oficis1 stamping of lie
upon the private property of another
whereby that property is endowed
with peculiar function and office
which no other species of property can
lerform-which causes universal and
urgent demand for the specially fav-
cred property. Hence. reason caused
Captain Ashby to conclude that 'sfre;
| coinage must have resulted from the
schemes of favorites of the sovereign
who desired special privileges. !"
In this he is corroborated by Mr.
Del Mar, who has, in his History Of
Monetary Systems, shown all the re-
, corded steps in the progress of pri-
vate coinage, from the time when il
was assumed and permitted by the re-
Voting caliphs of Mosler, Spain an5
Egypt to the enactment of Is Charles
H., cap. 8"
''The appropriation by the gold
smith class of the royal prerogative,
says Mr. Del Mar in ''The Science 81
Money" (p. 79. "has been accom-
| plished in so steaitny manner tha
scarcely trace of it appears in his
| torical works, anC none at all in
works devoted to political economy
slaring proof, if any were needed. o.
the prejudice and one-sidedness which
| have hitherto animated the teacher;
| OF that science. . =. The legislation u
Charles II. Tin 1867 on the coinag,
Of gold and silver money was indee
no secret, but its supernal significance
had never before been recognized OF
| pointed out. Associate Editor.)