Roseburg review., January 16, 1912, Image 3

EVENING ROSEBURC REVIEW
JANUARY 3, 1012.
CATECHISM OX MONEY.
The Outlook Magazine, of which
Theodore Roosevelt is associate edi
tor, has the following:
What is money?
Money is n convenient token of ex
change which has been Invented h--clvillzed
man to facilitate commerce.
Commerce Is the exchange of life's
commodities and necessities and of
labor by individuals with Individuals.
lummuniues with coinmunities. and
nations with nations.
What are the things which are ex
changed in modern commerce?
The six essential tlilnes uhi.h .jr..
bought and sold, as we say. in mod
ern commerce are food, water, cloth
ing, shelter from inclement weather
and climate, human intelligence or
skill, and human strength or labor.
What is the use of money?
Money is of use only as it enables
a man to exchange his labor or his
intelligence for food, raiment, and
shelter, or to exchi.n.-e the food,
raiment, or shelter which he has
stored up and saved for the labor and
Intelligence of others, ur to exchange
his commodities for the commodities
of others.
To perform this use properly, what
qualities must money possess?
It must possess, first, the quality
of being universally recognized as
a good token of exchange, that Is :o
say, a promise, which will not do
repudiated, to pay some of the above
mentioned essentials of commerce;
and. second, the quality of being as
stable a standard of measure as pos
sible. Must money possess what is calle-l
Intrinsic value?
Not necessarily. A piece of money
U a token of a promise to pay usef.il
commodities, useful labor, or useful
skill. It Is the promise to pay which
must possess Intrinsic value, not the
token. The. only service which "In
trinsic value" in the piece of money
itself can render Is that sometimes
it makes the promise to pay more
universally recognized, and thus mora
binding.
Were the "greenbackers" of thirty
years ago right, then, in their con
tention that tiie most sclentillc money
is paper money?
Philosophically, yes; practically,
no, because they could not. or did
not. devise means to make the paper
money token universally recogniz
able and reasonably stable as a meas
ure of value.
What do you mean by "measure or
value" as applied to money?
The measuring quality of money.
Is tlie quality which enables men to
determine, in commerce, how many
loaves of bread one will give for a
new pair of shoes, or how many hours
of labor one will gjve to a dentist fot
pulling a tooth. All romnioditi
fluctuate In value In accordance with
the needs of the desires of men, or
with the variation in the action ot
forces of nature. A favorable season
produces a good wheat crop, and the
price of bread goes down; a con!
strike comes, and the price of coal
goes up. The dollar as a measure of
value must therefore be based upon
the commodity which fluctuates the
least. In modem times gold Is this
commodity, and for this reason the
most highly civilized nations use gold
as the measure of the value of nionej.
But gold Itself constitutes only a
!jr
J. Eastern Oysters In Any Style.
Short Order lit Any Hour. 4.
Quick Lunch
Restaurant
YE TOY, Prop.
REGULAR DINNER. IITC.
Chicken Dinner Every Sunday.
Open until 10 p. m.. dally.
Sheridan Street Near Dupot.
OPEN ALL NIGHT.
OREGON RESTAI'RA.N'T
vyen Day ud Night.
4
Mrst-cltM meali at all boars.
Fresh Olympta Oytr. Flb
and Clair all toe time.
Regular Meal. M Cent.
Have added new Balcony
especially reserved fcr ladle
and famllte.
An Electric Piano will furslsb
mnale daring omI boor.
4
i
i 4 4-:
fraction of the money used In the
w-orld, and its chief usefulness as
money is because It Is a measure and
not because It makes surer the
promise to pay.
Are the words currency and money
interchangeable?
For all practical purposes, ye.
The money tokens used In the United
States conslBt of gold, silver, copper,
and nickel coins; of National hank
notes: of "greenbacks" or United
States Government notes; and of at'
checks and negotiable personal notes.
In a system of finance that works
properly all these tokens are inter
changeable, and are therefore all
practically monev: and all monev
I that Is current is currency.
I Is there any other quality of
money, or (if currency that repre
sents money in practical life, whic.i
J has not been mentioned above?
Yes. Perhaps the most important
quality of commercial money, th-;
money which serves as a token of
buying and selling. Is that it should
not only be stable In character or in
ItB measure value, but that It shouid
fluctuate in its volume. When all
the farmers of the country are sell
lug their wheat, they must receive
money tokens which will enable them
the next spring to obtain new aeed
and fertilizer. It is manifest thnt in
an agricultural country like the Uni
ted Suites there should bo a great
quantity of money tokena needed in
the fall and spring when there arc
great numbers of commercial actions
taking place, and a less quantity of
money tokens needed in midwinter
and midsummer.
Why do we not then, put our
money away in drawers and safes in
the winter and summer, and simp'y
take it out when needed in the fall
and spring?
Because Idle money brings In no
I returns, while "money which Is at
work Increases Itself. Under the
' present National banking system,
through which the greater part of
i our current money Is supplied to the
' people, the hanks, as a guarantee of
I their good faith, have to pay the
1 Government for the right to Issue the
1 currency. As they have to pay by
the year, whether or not they use
their currency in commercial loans to
i farmers and merchants, the natural
I tendency is to make speculative and
; undesirable loans at times w hen the
legitimate commerce of the country
does not need the money. This specit
I Iatfve use of money Is one of tin
chief causes of financial panics.
How large ran the volume of
paper currency safely be made?
We can safely have In circulation
at any one time paper currency equui
to the volume of the legitimate busi
ness transactions of the time. A prom
ise to pay is said to be "as good at
gold" when we know that the man
who makes the promise Is both de
termined and able to pay It. A
paper dollar (which is simply a
promise to pay) Is "as good as gold"
when the bank that Issued it is de
termined and able (or Is compelled
and enabled by the Government ) to
pay It. The volume of paper dollars
l.icH lti- a hiinb nhnii 1 tin eovernea
.... ...... rn.,.u- flrt tint lecltinmie
need of the merchants, farmers, and
business men of the community fo.'
these paper dollars, and, second, the
ability of the hank to make thsin
worth a dollar in commodities or in
labor.
Can the plan of the Monetary
Commission be defined In a few
words?
Briefly, the plan Is to provide ma
chinery by which a National bank can
at anv given time provide tne com
niunlty In which it does business witti
the currency or money which tec
communltv legitimately needs.
coupled with a svstem of Government
supervision so effective that the bank
will be enabled to keep its promise
to make the paper dollars good when
presented for payment.
Is the plan of the Monetary Com
mission designed for the benefit of
bankers?
Its chief and fundamental effect
will be to benefit the farmers, mer
chants, and manufacturers, and so,
of course, the consumers and house
holders, of the country. It will give
more liberty and efficiency to the
smaller b.nki. and less despot!-;
power to the In -go banks of the
great fltinni nl centers. The great
hanks of Wall Street are supporting
It. hoeer because they know thnt
the prospeii.v of the individual bank
er depends upon the general pros
perity. Merchant' Btid farmers and
householders ought to support it for
the same reason.
AUTO STAGE LINE DEPOT.
Dally stage and auto for Marth
fleld and all Coo Bay points, also
for Peel and Millwood, leave O W.
Rapp grocery store. 133 Sheridan.
Casb paid for produce (long tb line.
(USfflD
These Are The Mule Ads. That Pay
lloth Header Anil Advertiser
Head This Column Every Day
And Make Yourself Tlie isrr
LOST AND FOUND
FOUND. Lady' kid glove. Owner
please call at Review otnee for It.
FOUND. Lady's gold watch and
chain. Owner Identify property at
this office.
.OST. Sunday morning, gold chat
telaiue pin, dragon, set with small
diamond. Reward if returned lo
this ollice.
WANTED
CATHOLIC LADY would like general
housework In good family. Phone
.evenings 357-J.
FOU KENT
FOR RENT. House two blocks east
of Masonic temple. Inquire at :he
residence of Judge Hamilton, dtf
FOR RENT. Furnished suite of
housekeeping rooms, light and
water furnished. Inquire 603 W.
Lane street.
FOR RENT. Housekeeping guites.
Very central location. Inquire 335
North Rose street.
FOR RENT. Three furnished home
keeping rooms, with water, lights
and telephone. 420 North Jack
son. 12 per month. tf
FOR RENT. Two newly and neatly
furnished rooms for housekeeping.
bath, electric light and all modern
conveniences. 126 N. Kane. Phone
270-R.
FOR RENT. Business building, co--ner
Rose and Cass streets, former
ly occupied by Althaus & Sons'
garage. Apply to A. C. Marsters.
Roseburg National Bank. di'l
FOR SALE OR TRADE
FOR SALE OR TRADE. Four Iota
with store building and residence
In city of Drain. Address Box 1 0 1. .
Drain, Oregon.
FOR SALE. Three Rhode Islam
Red cockerels and live Bui:
Orpington pullets, all thorough
breds. J. L. Crooks. East Dough.s
street, east of cemetery.
TO EXCHANGE. J 1200 equity In
eight acres of bearing fruit tract
mile from depot, for Rosebur-s
lots or first payment on house. I.
O. Box 3."i2, Cottage Grove, Ore.
KOR SALE. Stock ranch of 162 Vii
acres on Fall Creeek, 18 miles
east of Roseburg: stream through
place year around. Cheap for
cash, or on easy terms. M. De
V'aney. 2:t0 Pine street, Roseburg
FOR SALE CIIKAI'. A small poul
try plant with good buildings. 1 Vi
mileB from Koseburg postollic.
For particulars inquire at Review
ollice. dsw
FOR SALE. The remainder of the
Anderson Bargain Store stock,
show cases, counters and shelving.
Splendid opportunity for anyone
wishing to go Into business, S
Mr. Wood at the Roseburg Bo'k
Store. itf
FOR SALE. A I w S. C. White Leg
horn and Barred Plymoeth Rock
cockerels; standard stock. Mrs.
James Attk n. Kdenbower, Ore.
Phone Firmer 21". dsw
FOR SALK Team of marcfi, 6 nml
10 ypa ih; also wnnn and h;trnt's.
IiKiilro of W. K. MarRirn at
Marble Work, foot of Jackson.
'MEAT; .MARK-firtH
FOR SALE. On 216-egg Petaluma
Incubator, also one dozen Barred
Rock hens. Inquire at Review
office.
FOR SALE. Five-room house, with,
two lotB, on Stevens street, may
be bought at less than coBt If
taken at once. Terms. Address
liox 167, Roseburg. Oregon.
FOR SALE. A team of draft horses,
ages a and 6 years, weight 1300
lbs. each; also wagon and harness.
Will sell In part. If desired. K.
Schmidt, Edenbower. Or. tf
FOR SALE. One acre of land In
North Koseburg, edge of cl'.v
limits. Cash or easy payments.
Inquire at Review ollice.
FOR SALE. My entire herd of regis
tered Shorthorns, consisting ot 14
cows and heifers, 2 bull cnlveB and
herd bull. The 17 head go for
900 if taken at once. I am pre
paring to leave Oregon. J. L.
Wright. Drew, Oregon. dsw
PRUNE TREES. We have them, as
well as a complete line of other
nursery stock; salesmen wanted.
Donald Nursery Co., Donald, Or.
FOR SALE Lot to feet front and
extending to river; fine river bot
tom soil. Inquire at 608 North
Pine street. dtf
FOR SALE. Rheubarb, the Monarch
variety. Best and latest Introduc
tion on the market. Planta 250
each, or 13.50 per dozen. Call on
P. Schmidt, Edenbower. dtf
WILL SELL OR EXCHANGE clean
ing and pressing business In live
little town; doing good business;
no competition; value $200;
terms, or would lease to responsi
ble party. Address li. E., care Ru
vlew. FOR SALE. Farm of 108 acres, 9
miles southeast of Roseburg;
splendid, free creek bottom soil;
70 acres in cultivation, balance
pasture and timber; near school
and R. F. D. Price $6000, one
half cash. Address Box 167, Rose
burg, Oregon.
FOR SALE. 100 corda of wood. For
particulars call on or address F. E.
Weaver, Riddle, Oregon.
FOR SALE. Homestead relinquish
ment. Address Box 66, Koseburg,
Oregon. dsw
FOR SALE. Asparagus roots, two
years old; Palmetto variety; 7e a
hundred, or $0 a thousand. Early
Jersey Waketield cabbage plants,
10c a dozen, or 3 dozen for 2",c.
11. C. Dawson. 625 Second Ave.,
South. North Roseburg. dsw
Lumber
to build coops for chickens, pen
: for pigs. shedB for sheep, barns for
beasts, mansions for men, at tho
place where you get the most foi"
your money. '
PAGE INVESTMENT CO.
VOL' LEAVE OCR MEAT MARKET
i
with admiration f r the perfect cleaa
llness which Is everywhere apparciU
You." own kitchen couldn't be mora
free from even the slightest suapleloa
of dirt. Bo there I an added satis
faction In coming In person to alet
th choice cuts we always bar
band. Give yourself and u tb
pleasure of a II today.
The Economy Market
Geo. Kohlhagra, Pro