Norwich bulletin., 1912-07-23
LETTERS TO THE EDITOR.
No Standard of Value.

MT. Editor; The supreme court of the United States said the constitu- tion of the United States does not contemplate a standard of value" A standard can never vary and does not 4 standard of weights and measures never varied, A. yard is three feet, no more. no less, A pound is sixteen ounces, no more or less. Were there 8 standard of value, and was a true standard, it could not and would not change, Prices may change, but a standard cannot, As proof of this, April ?, 1792. congress fixed the price (nlind you price. not Yalue) of S7l If grains of pure silver at s1, Congress fixed the price, but Het the value, for the best reason in the world, that they did not know it's intrinsic value, which was fixed by it's creator, Prem 17s2 to 1874 the pfriee Of 371 1-4 grains of silver was not changed What happened then? Bear in mind, 571 1-4 grains of pure silver could not be bought for less than one dollar, for the reason that the government would coin 1t for one dollar free of expense to the owner of the bullion. In 1873 congress, at the instigation of the gold owners, took away the free coinage privilege from the silver bullion own CTS; that is, congress refuesd to fix the price of the 3T1 1-4 grains of pure silver, What was the result? The price of S71 IA grains of silver drop ped from the false price-the assumed value, one dollar, placed on 1t by con- gress in 1792-down to today, the price of it Is only about 40 cents.
 People say the silver dollar was de- monetized in 1873. This is not true. The silver dollar has never been de- monetized.
 The silver dollar passes today for a dollar just the same as ever, which goes to prove that money is a crea- tion of law. regardless of the value of the material on which the money stamp is placed. This rule applies to gold as it does to silver. Both are products of nature At the same time April 2, 1792, congress fixed the price of PAT 1-2 grains of pure gold at S10, and said it was of the value of $10. Congress knew no more of the in trinsic value of gold than it did of silver. To prove that it did not. June 2S, 1894. congress changed the price of the S10 gold piece by taking out E 1-2 grains. leaving but 232 grains of pure gold in the S10 gold piece or eagle, but said the value had not been changed, still being of the value of S10. The value of the eagle was changed, but the same price remained for the 232 grains as was given to the PAT 1-2 grains. Is there any sense or reason in it? You might with equal sense say that three pecks of potatoes are of the same value as four pecks, of the same quality. When those coins were authorized in 1792 congress not only fixed the price, but decided the amount of metal in each coin. With equal propriety congress may take any other commodity and fix price on it. Nowhere in the constitution is conress authorized to fix the price of any commodity. The free coinage of gold and silver is relic of bar barism. The main object is for a few to own all the money all the people are obliged to have. It was grafted into our system from England, almost immediately after we had gained our independence and secured the right to create our own money. It was a scheme to rob the products from those who produce them. Ever since Aaron made the golden calf in the wilder ness there has been and is now de- scendants of Aaron. The gold gam blers know better. The majority Of intelligent people do not. And why Because they do not take the trouble to do their own thinking.
 J. c. VALLETTE.
 North Franklin, Conn.