A Speech on the Principles of FinanceWoodhull, Victoria C. (Victoria Claflin)
General
A Speech on the Principles of Finance
Woodhull, Victoria C. (Victoria Claflin)
Money -- Miscellanea
Can money be measured so that the same fixedness shall attach to it that
attaches to everything else with which we have to do? Money itself has
always been considered a measure of value; and it is this false stoppage
and foundationless position that has made possible all financial
discords, irregularities and inconsistencies. Does it appear to be a
strange proposition that money should be measured? Why should not a
dollar be just as absolute as a dollar as a pound is as a pound; or as a
foot is as a foot; or as a gallon is as a gallon? A cord of wood
contains one hundred and twenty-eight solid feet, or eight cord feet. It
must _always_ be _eight_ feet in length, _four_ feet in height and
_four_ feet in width, or some other multiples of one hundred and
twenty-eight. A cord can _never_ be any more, _never_ any less than just
that measurement. And the same rule holds of everything else with which
we have to do; with quantity, time, space and motion. All these have
fixed and unvarying modes of measurement. But money, the lever by which
all these are moved, has been left to fluctuate as it would—to be moved
by every different influence, so that in _many instances_ what should
have brought contentment, peace and continuous prosperity, has
bequeathed the direct reverse.
It does not concern us that there are _more yards of cloth_ at one time
than another, provided that _yard-sticks_ are all of the same length.
But what _would_ concern us would be this: That if with increase of the
_quantity_ of cloth the _length_ of the yard-sticks should increase
proportionately; or with the _decrease_ of the quantity of flour the
_pound_ should decrease in like proportion therewith. Now this is just
what has always been true of money; its _real_ value _increases_ and
_decreases_, just in proportion as those things which it professes to
measure have increased or decreased in quantity. Instead of these things
being exchanged or converted into something measured by as _fixed_ a
_standard_ as they are, the attempt is made to measure them by
_something_ which _constantly increases_ and _decreases_ in
representative capacity. In other words, a dollar is not at all times
one and the same thing. Sometimes it is but seventy–five cents, and
sometimes a dollar and a half. That to say that seventy–five cents at
one time possess the same representative power that a dollar and a half
does at another time, which is in substance to say that money has no
measure.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account