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About The Alliance-independent. (Lincoln, Nebraska) 1892-1894 | View Entire Issue (Nov. 17, 1892)
10 THE ALLIANCE -INDEPENDENT. GRAB AND MOM. A Letter on Finance by the National Lecturer of the National Grange The Orange Wants More Money. 1HE "INTBINSIO VALUE" NONSENSE. The Grange is a School for the Study of Finance It will Take No Back ward Step. An Able and Timely Article. For a long time after the grange was organized ita principal object was to knock out the middlemen, to bring the producer and consumer closer together. and thug benefit both. In this line it accomplished much good especially in its early years. But in later years, this feature of its work has proven more and more a failure. Again in the early years of its his tory, the grange mada it a rule to keep out of politics." But as its fail ure in a business way has become more evidenced, the disposition to go into politsis has become more pronounced uniu now tne order has become thor oughly transformed into a school fer the study of great political and econo mic questions. The following later from the national lecturer of the order should be read by every farmer in Ne braska; Washington, D. C, Nov. 1, 1892. Editor Alliance-Independent: The national grange has for years recommended and bet the example of a thorough discussion of the important question of finance. Since 1877 it has declared for the free coinage of silver. It has advocated an increase of cur rency to the amount at least $50.00 per capita. Here is the official language from the published "Proceedings:" "Whereas, The national grange does not . believe that we now have sufficient currency in the nation for the legitimate purposes of trade and to meet necessary obligations; therefore be it "Hesohed, That this national grange declares and expresses its opinion in favor of free and unlimited coinage of both silver and gold, just as it existed from almost the foundation of the gov ernment up to 1873, when silver was demonetized. ment alone should issue money, and that a sufficiency of legal tender notes bo issued." And it has insisted that "no excep tions" or restrictions should be placed upon one kind of money more than an other; that all money of the country, gold, silver, or paper should be of equal and full legal tender value for all pur poses. The following is a portion of the re port of the Standing Committee of Na tional Legislation of their work before cougress as presented to the National Grange at its twenty-fifth annual sess ion, hdd at Springfield, Ohio, Novem ber, 1891, and adopted by that body: "Our order represenst the wishes not only of its own membership but those of a large proportion of the people of our country in asking an increase in the volume of currency to $40 or $50 per capita. The proposition to issue this additional currency upon real estate security, at a low rate of interest, has been quite generally brought to the at tention of the -people. It has been favorab'y received and advocated by many of the best and mast intelligent citizens of our country, who believe it would greasly relieve the depressed condition of agriculture, and enable farmers to save their homes from the hammer of the sheriff. It is not, as claimed by some, a wild, visionary and impracticable scheme; neither is itclass legislation. There is no law which pro hibits any men, or class from buying real estate, and thus being prepared to furnish the required security. ... Wheth er it would be well for Government to enter upon this policy or not should be thoroughly discussed, which wou'd so develop the plan as to make it entirely practical, or evolve a financial policy that would give needed and permanent relief. Of one thing w may be assur ed, out of a fraternal discussion of the question win come light and good re sults. There must b better conditions possible than thosa which exist at pres ent under the financial pol'cy which now rules all the great nations, and the citizens of the United States will not be slow in finding out these conditions and applying them to tne advantage of our people. The very rich must go, and there mutt ba a more equitable distribution of the comforts of life to the worthy but extremely poor. All our people must learn the command ment: "Do unto others as you would have them do to you." In all their hundn ds of thousands of Grange meetings held every year in all parts of the country, farmers are at school learning the tiuth about finance. INTRJKSIC AND MONEY VALUE. A few pointers as a lesson leaf, are offered herp on the often disputed and often misrepresented item in the finance question of intrinsic value. Intrinsic value is one thing, money value is another thing. Intrinsic value is a commodity value, such as the value of wheat, potatoes, diamonds, gold, silver, iron, &c; money value is the value given by the law, which makes money, being stamped upon a substance having much, little or no value as a commodity. Money represents the value of commodities, without necessarily having the intrinsic value of the commodity it represents. A farmer can prove the dinerence between the intrinsic and the money value of the same article very easily. Suppose he gets together $20,000 in gold metal bullion. He takes it to his nearest bank and savs, "Mr. Banker, I have here $20,000 worth of gold intrinsic value); I have no use for it for six months, I wish you would' take it and pav me interest for it for that time. The banker would laugh in that farmers face, and say, "Why, mv dear sir, I have no use for your gold intrinsic value), but I will tell you what I will do; I have a good, stronar safe, some good safe-deposit vaults, in which I will place your gold intrinsic value), the same as I would keep your diamonds and other valuables, and 1 will keep it safe for you, if you, Mr. Farmer, will pay me for keeping it for you." mat's intrinsic value. Mr. Farmer goes away, takes his gold o one of Uncle Sam's mints, and under he free coinage of gold, as we now nave it, and had it for nearly one hundred years for sihtr also, and has it coined into gold dollars and gold eagles? The farmer goes back to that same bank with that same gold as money, and again asks the'banker to take it for six months. The backer says, "Oh! yes, Mr. Farmer, I will be very glad to have it money value) and will pay you interest on it as long as you leave it with me." Now that farmer has learned that money value is one thing and intrinsic value is another thing, and he learns that money value is more than intrinsic va'ue; that the banker will pay for ttie use of one and not for the other. Money has really no intrinsic value. Attorney General Ackerman, in speaking of the legal-tender act said: "We, repeat, money is not a sub stance, but an impression of legal authority a printed legal degree." "The theory of the intriu(ic value of money has been abandoned by the best writers and speakers." Encyclopedia Britanuica "Metallic money, while acting as coin, is identical with paper money, in respect to being destitute of intrinsic value." North American Review. "An article is determined to be money by reason of the performance by it of certain functions, without regaid to its form or substance." Appleton's American Encyclopedia. "Metallic money, .whilst acting as money, is identical with paper money, in respect to being destitute of value Coin, so long as it circulates for the purpose of buying and selling, loses it- intrinsic value. As commodities, gold and silver are capital, but as money they are mere representatives of value." Charles Moran, of France. The grange takes no backward steps Fraternally, Mortimer Whitehead. J. W. CASTOR. Pres. J. P. ROUSE, Vice-Pres. W B LrvCH Secy i E. E. U0TT. STATE AGENT. a. gree'namyre, Wf THR PSRMflM MIITTTAI TNSnfiiM P.A ill AAJ.AJ 1 1A111UJU11U H1U A ULIU XllUUIVIlllVli VV lit OF NEBRASKA. INSURES ONIaY FARM PROPERTY AGAINST """-FIRE, LIOHTNINQ OR TONRADO, Zr Dont renew your InBHrance with the old line companlet and ray three times what it la worth j mui tue aiuicrs mutual nwu gev uwiier jiisuruui e ai uubi. JST Write for Circular. PRINCIPAL OFFICE, Room 4U7 Brace Balldtn. LINCOLN. NEB. CAPITAL NATIONAL BANK, LINCOLN, NEBRASKA. CAPITAL : : : : : : $300,000.00. -It H.I.JIIU'. SITJ. -. JStf C. W: MOSHER, President, H. J. WALSH. Vice-President. R. C. OUTCALT, Cashier. J. W. MAXWELL, Assistant Cashier. -DIRECTORS: W. W. HOLMES, R. C. PHILLIPS, D. E. THOMPSON, E. P. HAMER, A. P. S. STUART. ACCOUNTS SOLIOITED. C. W. MOSHER, C. E. YATES, Banks, . Bankers and Merchants. Our Fall and Winter Purchases of Clothing are Now Complete. T The Addition to our stock is composed of the mostft durable, handsomest and newest styles in clothing an&te Gents Furnishing goods we have ever had in stock andWwi our prices are lower than ever. The fact is evident that You Should Invest Now j& While the stock is new and complete and not wait un-ib til winter is on and then take the pick of what is lef 1&- rsll onH 6aa wrt i , (eh gams m Fall and Winter overcoats and suits. ?? BAKER GL.QTHTNQ POUSC, 1I25 0 St , Lincoln, Neb. WHERE DO YOU BUY DRY GOODS?, We Sell to All for Cash and to All for the Same Low Price. We eruarantee the TvHnA nn pvat-v arti cle in our store and will r.fund the money to those who think they have paid too much. If that is the way you like to do business we want your trade. We want those who cannot call at the store to send for samples. Yours, Etc., MILLER & PAINE, LINCOLN, NEBRASKA. 1 I I V 1ft V BEST WESTERN COAL OUR SPECIALTY. PABMERS' ALLIANCES, SCHOOL BOARDS AND CLUBS will save money by buying their Coal Direct by the Car Load. Write for Prices. J. J. TFIOV!S &. go., Wholesale Goal Dealey-s, 1615 Curtis St., Denver, Colo.