The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1906-01-07

tee was appointed to present the
1 same to Gov. De Ltsle Brock.
/ n happened that while the people
AM their representatives were money
/ worshjpars-that is, they believed in
tho omnipotence Of money. Govern
nor Brock, on the contrary, was a
n.oney-inhdel; that is, did not be-
Iieye that money was able. to do the
least thing
consequently. when the committee
PRESENTED the petition, he began to
work with argument to prevent the
citizens from going into debt and be
/ coming tributary to bankers in Paris
and London.
After explaining to the committee
that all the money in the world could
ROT Law a brick, could not plane o.
Law a plank in the proposed market
house with little effect, he finally
struck the right way and reached
their understanding as follows:
will YOU permit me-" he aske5, Ito
place before you some simple ques-
tions?"
Then continuing; Have we the
necessary number of mechanics
among us to build this house?" The
committee replied that they had.
Had Everything Necessary.
The Governor then asked if they
had the necessary bricks, Zine, lunl-
her, hardware, etc.
The committee replied they had, or
could get them.
The Governor, holding the list ih
his hand in which he had noted these
/ items. said: Here YOU tell me we
/ have everything necessary to build
/ the market house, yet you desire me
to bond you to bankers for a material
which is Of no use whatever in the
construction of the building. Strange
anomaly"
| 1T is true remarked one of the
committee, I'VE have men and ma
terial, but We lack money to pay the
men and TO buy the material"
Friends" replied the Governor,
when a man gets paid for work done
or material furnished, It, means that
he has worked for others and sold
the. materials.
+ ia it your intention to build a
house for bankers? If so, then you
are right in demanding pay from
those bankers. But in such case,
you should not place yourself under
7 bondage besides.
IF those bankers pay YOU for the
house, and hold YOU in bondage, also
demanding annual tribute, they viii
soon have both the house and the
rioney they paid YOU.
ALLOW me, gentlemen, to propose a
q better plan.
Having as you say, men and ma
terial. all that is necessary is the case
is to keep account Of each mans con
tribution OF work or material; that III
in the future we may balance eqult-
ably the expenses. of the building.
This can best be done by means
of a money which lays no claim to
interest.
Instead of bonds, will issue S22,'
600 market house script, OF different
denominations Gas money! and with
these paw the men and purchase ma
terials, making this scrip receivable
at par legal tender money for the
brent of stalls"
Committee Assented.
The, committee. after some hesita-
] GAOu, dObCnlCQ W LnC OONCllIOA bFeAAAs
Most of the citiztns agreed to it,
! The scrip was issued and ma
terial procured. the men put to work,
the building erected, and the stalls
rented.
The scrip" circulated in the island
at par,
Every months rent reduced their
quantity, and in less than ten years
all were back in the public treasury
and stamped cancelled" and thus
erdea the life of the Guernsey mar
! ket house scrip.
/ Now. gentlemen. this is not fable
! to bolster up a fad of DR.. Gunner,
Lbut Is an historical event criticised
as follows by w Stanley JevOnS IN
/ his work Money, the Mechanism of
Exchange" page 105:
I Guernsey market was built without
apparent cost.
5 Governor Daniel DeLisle Brock,
desiring to build a market, but not
I Having the necessary funds, issued
under the seal of the island four thou
sand market notes for enc pound each
With which he paid the artficers.
When the market was finished
T and the rents came in the notes were
! thereby cancelled and not an ounce
of gold was employed in the matter.
There is, however no mystery in
} this advantage of paper money,
"A similar gain of interest accrues
upon all paper notes so far as their
amount exceeds the gold held IN
readiness to pay them"
Advantage Of Paper,
This is the advantage possessed By
our greenbacks, silver certificates
/ and national bank notes.
There Is not available in the oOun-
/ try a sufficient amount Of coin to re-
deem one-half of these notes at pres
emit issued. and yet for the demands
/ OF trade and commerce we are already
by our growth and development TO,
curing an additional supply Of a re-
| liable circulating medium.
/ Jevons further says:
The issue of paper representative
of money is beneficial to all parties,
provided that it be conducted upon a
sound method of regulation,
/ We And that BENJAMIN Franklin
advocated and carried into practice
]