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About The Alliance-independent. (Lincoln, Nebraska) 1892-1894 | View Entire Issue (Nov. 17, 1892)
THE ALLIANCE -INDEPENDENT.
GRAB AND MOM.
A Letter on Finance by the National
Lecturer of the National Grange
The Orange Wants More
1HE "INTBINSIO VALUE" NONSENSE.
The Grange is a School for the Study of
Finance It will Take No Back
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.
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
Here is the official language from the
"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
"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
ment alone should issue money, and
that a sufficiency of legal tender notes
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
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
"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
"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
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
INSURES ONIaY FARM PROPERTY
"""-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.
Room 4U7 Brace Balldtn.
CAPITAL NATIONAL BANK,
CAPITAL : : : : : : $300,000.00.
-It H.I.JIIU'. SITJ. -.
C. W: MOSHER, President,
H. J. WALSH. Vice-President.
R. C. OUTCALT, Cashier.
J. W. MAXWELL, Assistant Cashier.
W. W. HOLMES,
R. C. PHILLIPS,
D. E. THOMPSON,
E. P. HAMER,
A. P. S. STUART.
C. W. MOSHER,
C. E. YATES,
Banks, . Bankers and Merchants.
Our Fall and Winter
Purchases of Clothing are
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.
DO YOU BUY
We Sell to All for Cash and to
All for the Same
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,
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.
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