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Show pHtiiiiiiiiititiiniintiiniHiini.iiiiiiiiiniiiininiiiiiiiiiiiiiiiit! POPULIST POINTS Till . UllAJ&Ul I VniiV ALUA l j ! i a sketch of lawto.w REMINDS ONE OF SCOTTS NOR- MAN BARON. r.lmit lu SIM and Strength Dune justice to the tUIVKIlUI'llfM Of tba No n So far as I know, all writers on political economy of any note agree that value Is a ratio; but many of them do not make clear what Is meant by the term ratio. Some, after defining value correctly, follow it up with many constatements. fusing and contradlcory Value has been variously defined as follows: "The value of anything Is its purchasing power. The value of a commodity is the amount of materials for which it will exchange In open market. Value la stored-ulabor. Value is a result of the equation of supply and demand. Value 1b the result of decree or govp ernmental fiat. Value is a ratio. When the men talk y about intrinsic value they certainly mean the same as the Socialists do labor." when they speak of stored-u- p Since these two viewB have substantially the same foundation they must stand or fall together. Labor cannot be made the universal basis of value. It may affect value Indirectly by Increasing or diminishing supply of commodities, but the value of all articles of production depends ultimately more of proupon use than upon labor-coduction. A diamond, carelessly picked up out of the gravel, might be more valuable than one of the Egyptian pyramids that has coat the labor of thousands of human beings. Suppose the government, at infinite pains and tremendous cost, should tunnel the Rocky Mountains, and then no one would use the tunnel, would It have any value? Changes In customs, fashions, and tastes are constantly rendering labor utterly useless. If we accept the statement that value is the amount of commodities for which a thing will exchange, then value becomes a material something, which can be shown to be absurd. The supply and demand theory Is intimately related to the labor view of value. The correct view seems to be that value Is nothing but n ratio. It Is my purpose now to attempt a fuller explanation of this view. A ratio results from comparison. The comparison always Involves two terms which are Invariably of the same deIn arithmetic the first nomination. term Is called the antecedent and the second term the consequent The ratio Is the relation of these two terms expressed In the form of a division. This ratio Is always abstract. Let us demonstrate: sound-mone- st $25 : 555. $25dlvldend; $5 divisor; 5quotient. Proof: $5x$5$25. Let us suppose that $5 Is contained In $25 five dollars times. Then substituting In proof we have 6x$x5x$5x$J $25. Now this would involve an absurdity, because mathematical conceptions arise only as a result of the limitation of quantity, and since denomination is not quantity but the name of quantity, It cannot properly he made the subject of mathematical processes. Hence the relation In a ratio la always an abstract one. Value then is not labor, not a material thing, not the keystone of an arch upon one side of which presses supply and upon the other demand, but Is an abstract ratio. Before discussing exchange value there are some principles of political economy that must be well understood. They are as follows: The greater the number of units of a commodity, the smaller is the marginal utility of each unit. Thus one dollar has more utility to a clerk whose salary is only $300 than to a millionaire. Second, the amounts of two commodities that are exchanged will he In an Inverse ratio to their respective utilities. Thus, one ounce of gold equals sixteen ounces of silver. Sixteen times utility of one ounce of silver equals utility of one ounce of gold. Expressed as a proportion Utility of gold : utility of silver : : Sixteen ounces of silver : one ounce gold. That is: Utility of gold equals six Iren ounces of silver or metal; utility if silver equals one ounce of gold or metal. ILnee utility : utility : : metal metal nr an quantity : quantity. From the above we see that exchange not a ratio; it Is a proportion vnl.ie of two ratios, ami since lh- ml ins are abstract the proportion r 'wre-- s an ahslracllnn. It ap- ih n that every exchange in- 1.3 - n,-- r one ua n- Man Hit E L t. L f-- i N - wd kstu.U I1! : CAR9. CJ M. Louis. Chicago Dmuv, Onuli.i, Grande railroad .uouiiun new uiErtiniis to tlir.ir already ml iui;n:-t;iuwcliariaii'-'c- l ilivpburear sTvioe. lu the lLe f.Vl.;rili burned illl.n- Emu will run through future, ll.ij ii;ii. most to l.!..r!k:. a, l.o .:3 txcry inch wci lbilE'um Ti.in-is- l lily Miicpars to Omaa MId'.- ; .0 d u :i..n. 'i'n the other ha. C'iiiruj.'u. New A i r.i u ini Bontoii, also to olhrtii' :;l hi- i out the Eid: paiil liu it. Jamis itiiu'.it duiuro. Tucsix cars will To slum i;m. Stun- - .tai s'tvm I'urtia .d, sort of uUeuiij-.i- . l Oicgmi, thus giving If a: a and his am- so many will- - Uii'-I.- i cr through burtlco ou Oregon ley dressed lay lig u .ujidh.g about us Short I.ine, us well us from ull Utah a part of a picture done for their jx'iuls. The t are iersonally amu.v..iciu. hut ti e Luge. n.? !sivu m.m Aiiuiut'tcd ui.il furnish all the conveniences with the stublile on bis iliiii had shown of regular l'ullm.iu sleepers at loss than them that lie was their superior ou half the cost. The St. lamia car will leave hunting grounds that veie theirs by (V S. L. stutiu'.i every Thursday and Ogbirthright, ami tlay huug upon his den via bio Grande Western railway, lightest word. every Friday morning. The Omaha, ChiFor the tenth tinte (lerunlinu's band cago, Now York and Boston sleier will had jmnpc-- the Fa.1! Caries reservation. leave O. S. L. station every Wednesday I he spring grass was two inches high and Salt lake every Thursday evening, and the Indian lust for blood was thus affording the inestimable privilege of in Salt Lake City. awake. As usual, tuops v. ire started a twelve-houFor rules ami nil details, wrlto to IE F. upon a perilous chase. For days they Nov Arrnt. nr II. M. (lushing, followed the trail over a country that T. P.ins, General IJ. JcK. G. Railway, Salt Lake A., God Almighty made in wrath. Further City, or any Oregon Short Lino or liio and further into the vast solitudes they Grande Western ticket agent. Volcanic crests reared about The recent census showed 62,000 Protestoiled. Lava tore Hie leather from tants them. among the 81.000,000 of Italy. their feet. They drank from springs r.UTTEHMIT.K TOILET BOAP COSMO that gushed thousands of feet above skin soft, white and healthy. makes luo canIn the valleys. They wandered Sold everywhere. ons so deep ar.d dark that through the narro' ribl,rm oI white far above The population of Russia is increasing at them the stars were seen at midday. the rate of l.COO.OU) u year. They lived upon animals no wilder than the mpn they were pursuing, anil SALT LAKECITYDi RECTORY. Now scarcely more wild than they. HALT and then, from a forest of pine far I.AKK above them, a slned of blue smoke (TIL Mitchell Farm and Spring Wagons, drifted on the furnace air, followed by fiushlord Firm Miagons. the shrill of the bullets wild singing. tenr.ey Cujgits snd Carriages. Write lor Prices. The horses long since had been left behind. The cavalrymen were on foot Henry Wapnor Erewing Co.'s wiili awtou at their head, his teeth Cilcbruted lirer. hard set. Well walk them down, Lake City, Utah. Salt lie told Ills sergeant when the mounwas tains were reached, lie walking Salt Laks Electric Supply Go. them down. l See. l'ontraetln B.1I. Alrts, Prw. It W. Six weeks afterwards an Indian, Kleciriclana. mill Itclnll JLIueirle SupW. Flial Sunlit SI., Salt LtS D 'Fbunsli. plies. start to whose bones seemed ready through his skin, came to the camp and 2nd CSemist F. U. Mahon, & The Fc. nic li'Mnf t!. Di-ur- 'i Wor'.u a : i - - I liter I j -- J No matter how cut:; the act of ex(Special Letter.) 1111 papers change may become these same prin' lJ given .i iy ciples will hold. 1 lie value of all kinds of money will conform to the principles blogm puii's V. Luv.ien, laid down. Money is nothing more than an exmajor neral of w it o pression of a relation or ratio existing roluut'crs, between national government, viewed commands one of from the standpoint of solidarity and the divisions of Shatter's army pud power to supply, and individual govwhose men were ernment, viewed from the standpoint of personality and of necessity growengaged in the desing out of existence wants and culperate assault of ture wants, in this comparison the El Cuney. .They have told of his long second term is an organic part of the years of service, of how he has workfirst term, hence in the theory of moned himself up through the lieutenancies ey the organic idea is superadded to to his present rank, and of the training that of ratio. These two relations in- given him of more than a quarter of volve mathematical and ethical Ideas. a century of experience; but of the giThe supply of money should be progantic size, the phenomenal strength portioned to the degree of national and artivity, the abnormal endurance, solidarity. Really, at the bottom, the utter fearlessness and the inalienable picluresquenesB of the man not a money Is nothing but n fixed and tanword. I have the honor to know him gible expression of the relation between national integrity and personal well, and, since I like men whose basic integrity. The value of money rests manhood has not been utterly refined upon a broader foundation than that out of them, I like him. Lawton reminds me always of Scott's flat or decree, or supply and demand, or labor. Cattle, furs, wampum, cow- Norman baron. Front de lloeuf. He rie shells, iron, copper, salt, tobacco, has better morals, of course, as well as silver and gold have each marked some a very pretty taste In red wines and stage through which mankind have reed birds, but he Is as big as the giant slain by Richard of the Lion Heart, passed, or are now passing. In (he evolution of a scientific currency. Finally, is as direct in hlB methods and, in perwhat determines the degree of value? sonal or general combat, every bit as Manifestly the importance rnd utility savage. There is plenty of the primal between a nation and an individual Is man in him. What he thinks he says. He has a strong sense of justice, lmt vastly more Important than the relation of an ounce of gold to an ounce of his temper Is terrific, and he is not silver. From the foregoing It Is clear gentle, lie requires of subordinates the utmost endeavor and gris it. He that parity cannot exlFt between money and men. Such a view would be asks no one to do work that he is no; contrary to logic, philosophy and competent and willing to do himself. mathematics. JOHN FRANKLIN ENGLE. Intrinsic Value1. William Stanley Jevons, M. A., F. R. S., Professor of Loic and Political Economy lu the Owens College, Manchester, England, is certainly a higher authority than any or all of the college professors of the United StatcB at the present day, and it would be well for Cleveland, Ilarrlson, and other intrinsic value lunatics to read what he says on that subject. Wc quote a short chapter from Professor J exons, as follows: We must now fix our attention upon the fact that, in every act of exchange, a definite quantity of one substance Is exchanged for a definite quantity of another. The things bartered may be most various in character, and may be variously measured. We may give a weight of silver for a length of rope, or a superficial extent of or a number of gallons of wine, or a cerof force, or conveytain ance over a certain distance. The quantities to be measured may be expressed in terms of space, time, mass, force, energy, heat, or any other physical unitB. Yet each exchange will consist in giving so many units of one thing for so many units of another, MAJ.-GEeach measured in Its appropriate way. act of Every exchange thus presents itself to ub in the form of a ratio between two numbers. The word Naturally a leader, he goes first, and value is commonly used, and If, at curthe more difficult or desperate the unrent rates, one ton of copper exchanges dertaking the faster he goes. Upon for ten tons of bar iron, it is usual to the gray granite slab which covers fhe who say that the value of copper ia ten bones of a Confederate officer times that of Iron, weight for weight. sleeps on the magnolia petalled upFor our purpose, at least, this use of lands of Louisiana is an inscription: the word value is only an indirect He never told his men to go on. modejof expressing a ratio. When we That will do for Lawton when he dies. Bay that gold 1b more valuable than silHe He Is G feet 3 Inches high. ver we mean that, as commonly exweighs 210 pounds and nearly every changed, the weight of silver exceeds ounce of it Is bone and blood and tenthat of the gold given for 1L If the don and muscle. He Is 55 years old value of gold rises compared with that and as as a youth. His capaspringy of silver, then still more silver Is givto go without food, drink or sleep en for the same quantity of gold. But city Macuma-zah- n is seemingly unlimited. value, like utility, Is no Intrinsic qualthe Zulus called Quatermaln ity of a thing; It is an extrinsic accione who has Ills eyes open." the dent or relation. We should never Lawton will keep them open speak of the value of a thing at all for a week at a stretch when necessary, without having in our minds the other and then walk, talk, eat, drink, or thing In regard to which it is valued. fight a dozen men to a standstill. He The very same substance may rise and has lived a life of peril and hardship. fall In value at the same time. If In His only rule of hygiene is a tub in exchange for a given weight of gold I the morning. He lias taken no sort can get more silver, but less copper, of care of himself. Vet so splendidly than I used to do, the value of gold has was he endowed by nature that there risen with respect to silver, hut fallen is no perceptible weakening of hla with respect to copper. It Is evident forces. Apparently he Is as powerful that an Intrinsic property of a thing and enduring as when I saw him first. cannot both increase and decrease at That was more than ten years ago. the same time; therefore value must He had completed one of t..o most rebe a mere relation or accident of a markable feats of strength and persething as regards other things and the verance chronicled in the long annals persons needing them. -i race, but he was of the How Ho Married Them. as fresh as a rose in the morning. A newly appointed justice of the He stood on the government reservapeace In a western town was greatly tion at Sau Antonio surrounded by embarrassed the first time he was call- tawny savage bawl of Chlricahtia ed upon to marry a rouple. He made Apaches, whom he had hunted off their many halts and mistakes before the feet. Near him. taciturn but of kindly proccedlng was over; hut at last he visage, stood young Chief Narhes, el- closed his hook with a sigh of relief fflost as tall as he. In a tent close by and delivered his final sentence in a sonorous nnd Impressive tone. "Aril groaning from a surplusage of fresh now, he said, "by virtue of the authorhref eaten raw. The squat figures of ity of the state of Michigan, in me ft hercdltnry enemies of the whites hl-vested. I hereby prunouncc you man1 grouped about him came nulv to and woman! .IloulJrr. lie towered muons them. powerful, dominant an intm:.i- horse-pow- To ' tn-U- Fearlessness. . i- National Relation Integrity and l'eraoual Integrity A Diamond May Ilo Mora Valuable Than Pyramid. NEW xi-i.-- V, aiitl one Unit is compound, and thatlnevtry ca;, the imt of the comparison are ibo baj'ui in ikuumiuatlun. U'-j- Monetary lion of the spirit of the while rasa wluwu war drum li.u In at around the world. t'l::d in n fadid, dirty fatigue Jr.rUt t, a f,r::sy I'.uliejI shirt of gray, that the riripe down is ro ti:o leg was b.'M-lInoken b'Wlo a disreputable that - - i . j r lay-ov- j fili-n- XV nolt-nal- c Assaysr W. Tempi 1S6 fiSf. PS3K083AF3 i'GC!30S. No ii.;cri..L puwl--- c::rrv llii'Lu vr.ilihs, . Jji.rkrsiliul:ili,s- Si.. V i 'i i.i.h'i'itv. Utah lhmio- . i . si.: i in r, i'iv. mu) AL-- s ini . nuiii r. .'ri. ii'.i ( it., i School Furnilme snd Supplies, Offlre, Church nnd Furniture. T.ll-r-r- O. F. VTtiber A Co.. 77 V. l 'ii t i St., Suit Ls!m City, L'tah. B. A. McAiillen. Manager. ThTKssex Bakins Go. Money to loan on Improved farms In Clah and idi'.tio. Cd7 INTER-MOUNTAI- McCornick IluEdlng. MILLIKS Go N State Street, Salt Lake City. Utah, SIS Cusli lrii1 ixilit for Wheat and lllgheit Carload lots s specialty. Grain. K LAMBERT PAPER CO. Everythin In the line of Printers' Kuppllra, Wrapping Paprr, Faper Dags. Torino. Ito. Careful and prompt attention tu orders by moll. REGISTER. . NATIONAL DASH . Full line of Kamplson nt Os urOmsiiHiiji. ?:i Mnin, Act for Utah Prices from li:i ti.l IS to SUjl WATCHE'SnEWELRYrrKi M. A. MILES. Street. Salt Lake City, Utah. Write ns for prices on anything you need. PDflPCDiCe Mail Urdertand liet Prices MS Main OnUULillLOi From W. S. HENDERSON, Wholesale sml retail dealer in Imported snd Domestic, G recn a nd Fuuey C roceries. Fish snd 8. Main Poultry, Cigars and Totmcro. A when 1? CACVI TO take said that Geronimo was ready to sur- IT 1 1 a trip or to take lu Lflu you go out on picture p shots at the buby. Such pictures cant be render. Lawton went alone to the lair Hake them yourself. Out- - nrlnl of the starving wolves and received bought. fits N up. Drop us a postal. GET A IvUlIuK Its Cheap! Joslln A Park, Salt Lake their submission. Cavernous LAWTON. N. HfiT-i- eyei glared at him. Lips black from thirst A BUSINESS EDUCATION. and hunger were drawn back over disJOS. NELSON, colored teeth. Skeleton fingers pointed at him. From skeleton jaws came TEMPLETON, SALT LAKE CITY. sounds of pleadings mixed with wrath. The poison of bitter racial hatred was In every glance. Even the rocks 216 8. WE6T TEMPLE ST. Bmelled like mad Indian, he told me with a laugh long afterward. He lounged among them, their master by MANUFACTURERS OF SUSPENDERS. virtue of superior courage and strength and hardihood, and they followed him WItITK FOR OUIt NEW CATALOGUE. like sheep to food and imprisonment This is the story in outline of the capEDUCATIONAL ture of Geronimo, physician, wizard, conjuror, orator and murderer. The man of El Caney is the man of the Mogallons. and the man of the Mogallcns is the reiurarnation of some shining, helmcted giant warrior who fell upon the sands of Palestine in the One Mile Wm si 6c Uoimitiv of Nott Dna first crusade, with the red blood willACADKXfY for young lsdlei, sow Mr MARY'S ST. ing over liis corselet, and his upon lu year of actlva educahai earned tlia reputation of being tional work, battle sword shivered to Hie one of lb most ibor- ujbl.r equipped and suceeaafu e hilt. The Academy persists unchanged Inlltatlon In ths I'piied Siatea. onTbs an emlnanca beautifully altuaisd in eye. In profile, in figure. It is the bulldlnga are the plrfureiiuo banka of tbs BL Joseph race which in all the centuries the Val- Btver. All the branches ot A Thorough English snd kyrs have wafted from the war decks, have hailed from the holmgangs or Classical Education, helmet-strew- n moorlands the white Including Greek. Latin, French and Oarmaa ara liy a Faculty of competent teacher. On comskinned race whirli. drunk with the taueht pleting ths full comae of studies student receive liquor of battle, reeled around the Uia Regular Collegiate Degree of dragon standard of Senlac, which Lilt. , A. 2. or A. M, Richard which .m Grenville, fought The of Mtialc la conducted on Conservatory broke the Old Guard at AVatcrlno.w-i- rh Die plan of tlm of rode up the slope at lEilnklnva, which Three liurruir.entHl n. and one In theorr, are Included lu thu regular tuition) tail weekly, went down with the Cumberland at prac'U'C pro mu. The Art Icii:iri tr.entla modelled aftartha beat Hampton Roads, which charged with ArtBchooia'n lumpr. Mie the race of Pickett at GettysburgMinim Department. Preparatory trip.ml Fuplls who mirr trp.lnliig.aud Ihosoof tentrader, the financier, the statesman, the der age. r.ncm f i'lv ,ucpurad for ths Ac X.ltaiiccil ('nur-inventor, the colnnVj.T, the rreator.bnf, deinlctrnur-ca.and Typewriting exbefore all, the figlutr. tra. Kvcrv variety l'.tin'r Vi rdlrworh taught. For ciUul- Fr.u A. H. BOXRUD CO. asss mLiMUOIiPM St. Warps Rcadtmp, two-handl- ed furty-foun- - race-typ- g Anglo-Saxo- B-- tl-.- kI j j s i er I xcu'-siun- J - !' e e. nl j i . o. llion--g.t.'ii- r co.iluluiug full Information, address The mmt. recr-- t T.'.'v. nf I llhrry sc!r yvmn garionallst, New Yf.v'-- - City. DIRECT TillSS OF THE ACADEMY, St. Mary's Academy. NOTRE DAME P. 0.. INDIANA. |