Show What By Chares E. E I I Flat Fiat Money r oney Is S Russell tr l 04 Money Ioney is is of course only a i device In In help hep mt men to lo exchange C abor und and the products of or labor Jabor When you OU work tot for or wages wac-es or salary you rou work In reality for rOl f of od clothing shoes und and so o on ou Your YourI I does not have these thinS's lIe He elves Noi you yon money Instead and this thIa mon money Is s merely merely merely mere mere- ly orders on nn the rtE different men that thet have hare the different pr products d of labor abor that you rou want Since men began bee to rise from rom the eta slate In which each individual supplied h killing animals catline eat cat all his by ting line them and u using ln their skins l ln for Clothing and anI r they have hav b been en trying to find some om m by lIy which tho labor or 01 tic the products pIO of ono one man cnn can l bo bt exchanged for the labur In- In bur hur and und products of IC another man In lit other words s they ha have been tryIng try try- inn Ing to some umE satisfactory kind nd of Inc money or 01 cl circulating og hun a und and ml have lIa not found round it yet et Here ore are some somo of the things mon mn have used for tOT mono money Cattle Cotto sheep horses human beings that Is 18 to say aay slaves Ivory teeth cawed stones n i hoUr hales bates of oC cloth beads bones bonet bits of bark barI paper per lend lead bronze brass copper copper cop cop- per per tin sih silver ver gold okI I In lh the thirteen en h It ce century the circulating circulating cir clr- medium In China was coin coin- LM k I i s y fl S JUS I a YEi 4 A 4 lif P 1 M i i j m M I J 4 1 4 I U fattier father of the IrIsh pool poet and I Butler Yi the Ua in is arrived take part to arrIVed In country In have LU hI The I 4 IndustriaL at ft Ireland are ovi In the active the die outlook Ij posed of pieces of tIm the inner innet bark of or orthe the mulberry tr tree stamped tamped with the sIgn of the n To ro refuse to accept these or 01 to depreciate their face value was a 0 crime punished with death At present plesent in this country wo have mone money 01 or a n circulating medium com composed corn com posed e of a a. small JI part palt of gold ant ann silver sit sil ver vel coin and a 0 ver very large part of promises promISES promISE'S promisEs promisE's prom prom- isE's to pay gold or SI silver vcr coin Good men though thoughtful ful men experienced men hold ver very different t views view's about Uris subject of a circulating medium me me- which is I the m st important economic J problem w the worM world toddy todi- There are re three principal schools or theories con concerning money the money the theory theon of fiat flat mon money y or what Is called in this country greenback the tl theory orr of or and amid the theory of mono m ot oi the single IngIe gol gold goIc standard I am going to describe e each ch theory theon hn impartially It IDS ID'S It is described hed 1 by its friends frInd First the theory of lint flat money holds hoMs that the only thing that makes mono useful or valuable Is IK the tIme stamp of f the government n it That stam tIan is tS a guarantee that another man writ will re redeem ro- ro deem cleem In groceries or m or 01 shoed l the h e order that you present to b ulm The rhe thing really sought ht is not ot tho the possession of or the orde order 1 or money but Limit the of the product of ot lubor labor that tho Uw order older or money 1 It Is because of the stamp of ot the th government that men accept and andi i dom dc-cm the Ow order or money Therefore There Thero- fore fure it makes no difference what material ma- ma u tho time order r or mone money Is It made of 00 paper being a a. convenient mat material t well wen be tic put government i stamp might upon paper which would then become becom money and amI be m redeemed In the products of labor O tt man desires I I It M Is iM the lIlt exchange of the these theMo o products of tahoe labor that really and alone I i ut on business U The monc money used usel i is hI hIn II n nothing tit h lug hu but mit t a piece or of machinery to facilitate fa that exchange There is 9 no reason u on according to to this tl theory rory why whymen men should not rl redeem orders 01 or money ma made e of or paper as ren readily ll as at they will redeem orders or money madr nuh of ot an any uther material material gold sil silver sll- sll ver Ir copper cOPIer etc lc But the Issuing of th these se orders or entirely b by Iy the done mone money y should be should lI be no orders orders or or- government U There Thore ders drs or lor money Issued Issue by private to persons per per- sons nor lJ by banks The nm amount nt Isby is- is xi d by lIy the thc government O should be in III accordance with the tl demands of trade and amI L iii have no flO other limit t. t Tb Tho o money 1 thus l h 1 Issued nee u not 1 represent sent un any I Wing tiLIng In Irl f That is b It WI l not be ime redeemable in any coin of or Il l or silver shIver and th the tho government lilt lu-cd lu d not keup nn any r nerves or of gold colt or oi of or tb tt- siR HIl or Hll er to redeem It II it Tho Th government fI on the tho paper wi will tin till tinman man that holds th the val paper cr to ex exchange x ox- change I products or labor according to which is the taw nol nob nole hi his 1111 TUt ds 0 or 01 ee desires purpose I of or a n 11 rn medium orin or n i-n I C V. V This r ites the theory of fiat money Y held heiti by hy moan mun persons |