The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1908-06-25
PUBLIC STORES AND Ex-.
\. CHANGE. NJ.
~ re0uest Of q. G. Potter. !

Z \
,ss. .s..s. CHANGE.
(By request Of G. G. Potter.
The boarding Of gold changes the
volume Of money as related to the
volume Of business, to the benefit Of
the creditors, just as the coming Of
new gold from the gold fields tends
to the debtors relief. There is no
way by which the volume Of the new
gold can be fixed. It depends on the
fortune Of the mines, there is no way
by which to prevent the boarding of
gold both new and old, it depends at
one time on the bears, at another
time on the rascality of those who
have it, every change in the volume
of money as related to the volume
business affects average prices, ev-
cry variation in average prices, is an
injury to someone, bank currency,
authorized by law, whether secured
by national bank bonds or any other
kind OF assets, simply places the bus
mess Of the country in the hands
and at the mercy Of the private cor
poration, the management of such a
corporation would have to be more
thoroughly disinterested than any like
group of men the world has yet known
orthey would use their power to man
ipulate the volume Of money express
ly for the purpose of affecting aver
age prices, every change in aver
age prices which would thus be
brought about would be to the injury
Of the industrial world for the furth-
er profit Of its money masters, the
multiple standard would be no solu-
ton of the money question, the the
DRY is mathematically faultless, it de-
ponds for its effectiveness upon an
average of prices, created and CON
tinued In a free market, by dealers
engaged in an effective competition
with each other, there is no such
market and unless human life is to
be simply horse race, managed
solely to see which one can get ahead
OF all the rest, no such market is to
be desired, under the market as it is.
and as 1t is likely to remain, even
with the multiple standard in, force,
II that were possible the price of
trust-controlled articles would be con-
tlnuously changed, arbitrarily and
without reason, every such change
would effect the average Of prices and
under the multiple standard the vol.
ume OF money and SO again the PR.
ces OF articles not in the trust would
f1uctuate by the action Of the trust
and the powers Of the trust not only
to arbitrarily advance its own prices
but through controlling the money,
disastrously to affect the prices of
articles of trade not otherwise sub
Ject to trust control, and hence, would
defeat the purposes Of the multiple
standard, and therefore there is no
solution of the money question I'M
der capitalism which does not leave
the power Of money in the hands of
those who gamble with loaded dice
and those stakes involve the welfare
OF the world.
On the other hand it Is contended
that Socialism will abolish exchange
for profits and will dispose Of the
use Of money Of intrinsic value and:
subject to private manipulation as an
essential in exchange, and So make
an end of the money question by pro-
'viding a way by which each may ex-
change his own labor power for the
products of all others, practically on
g basis Of exact and equal justice
to all, and this fors5the following
reasons, under capitalism ones abili-
ty to get things out Of the market
depends on his possession of money,
which is always an uncertain and
imperfect record of someone, some.
where. sometime, having put some
thing into some market. Under so
cialism the record on which one will
depend for his power to draw things
from the public stores will be def
mite and certain, it has been seen
that the real thing exchanged is lab
or power, and under Socialism the
record of labor power expended will
be direct, simple and certain. No one
can predict what the details of the
distribution Of the future will be, but
1t does not matter whether labor
certificates, pass books or whatever
the device may be by which the cred
Its for labor will be made available
for daily use, the money now IN exist