The Washington times., 1919-01-18
What Is Money?
Two interesting suggestions from Europe
Is a Handful of Gold Real Value!


First that the Peace Council which might better he
called council when it meets shall, by its first meet
ing become and constitute League of Nations that shall
lay down laws governing territory, regulating conditions
imposing peace-any nation resisting dsobeyng to be
considered enemy of the League of Nations and at
attacked by all of them.
That would be very powerful combination-until the
members of the league began fighting each other.
Interesting suggestion number is the establishment
Of international gold to contain gold supply
Of the allied nations including the United States and
act in the handling of the worlds stock of gold Fed
eral reserve banks here act in regard to money.
The suggestion that the nations of Europe should
mne to put three hundred million dollars into the gold pool
and this nation two hundred millions One thing Old Uncle
Sam cannot complain Of they always give him chance to
do his share.
The serious discussion of poor little five hundred
million dollar gold pool among nations that shoveling
out what they call money by the tens of billions makes
realize what queer thing the finances of the nations
Gold is supposed to be back of all money. But
weak little nation print and circulate at par at least
FEW billions of good money and not all the nations
together could scrape up that much gold.
What is money! What is REAL palue9
1t is not gold of course; that is only token It has
little REAL value within itself than the strange
she'll used money certain islands. man will tell
you that the DAYS LABOR is the unit of value But it
;snt while you hire workman in Korea for four dol
:ars month and must pay four dollars day for work
nan in this country
Another will tell you that the unit is the BUSHEL OF
WHEAT since that is the staff of fe but isn't stable
value For you buy bushel of wheat for S135 in
the Argentine Republic and here the farmer
S220 by the Government.
Another will tell You that the earth which live
and the right to it constitute the only real value
That isn't so. You must add lime, phosphate nitrogen
muscle and patience to the soil to make it valuable
Gold is frstcass money token in civilization It
does not rust and it enables intelligence control the
bic supply and compel dulness to work and pay high
interest
That is what the present system requires
You cannot tell just what money but you can analyze
and tell its component parts you tell that water
made OF two parts of hydrogen and part oxygen
Three things enter into making up money or value
I. First-The earth AMI its wealth
Second-Power manual labor steam or electric power
Third-INTELLIGENCE.
First In the trinity of value stands intelligence With
out it, the earth would savage and labor would
struggle in vain.
Primitive hitchsd his old wives to plow made Of
sharp piece of wood. They pulled it and out what
strength they had left The young wife held the pow and
saved her energies The sat up in tree and looked
out for his his prey Now has got the expo
sive engine pulling his tractor the old work
ing In the factories scrubbng floors pensoned off in
ideness the young woman nicely dressed doing nothing
her man happens to be powerful That means progress
But further progress is possible