CHAPTER TX.
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will here recapitulate the principles laid down
in the foregoing remarks, and then proceed to the
remedy for the evils existing. 1t will appear


First, That Money is necessary for the ex-
change of property, and that bartering without
money is inipracticable.


Second, That Credit System cannot be dis
pensed with, but is absolutely necessary to the
prosperity of a nation.


Third, That Money is public measure of
value.


Fourth, That it derives all its value as cur
rency from law and law only and that pebbles or
any other material would answer the same pur-
pose as gold and silver if the law could make
them tender for debt and control the quantity.


Fifth, That the use or Interest accruing on
Money adds to or takes from its value just in pro-
portion to the rise or fall of Interest.


Sirth, That the use, and the use only, consti-
tutes the value Of all material things; that the
actual income production is the only thing that
gives value TO every thing permanent, whether
ornamental or intrnsicaly valuable to man.


Sepenth, That legislative value is fictitious,
not real, and therefore should be defined and re-
stricted by law for it is arbitrary, SO will its
use be arbitrary and unjust, unless it be so re-
strictcd.


Eighth, That the wealth of the nation, which
it has taken ages of patient industry to acquire,
may be said to be in one end Of the scale, and
this Legislative fiction, money, in the other; and
the latter may be made by one legislative act, to
balance the whole of the former.
Ninth, That this fiction should never monopo-
lize the productions of labor, but should merely
be the means by which to exchange them; thus
production and distribution, which arc of vast
Importance to man, would be greatly increased.


Tenth, That if proper quantity Of money
were always to be had, and its use or interest
fixed at Just rates, it would never be hindrancc
to any necessary or desirable improvement: that
want of ability to do the labor would alone re-
strict production; hence the laborer would never
be without employment.


Elerenth That any change by which the rate
of interest is raised increases the debt of the
debtor just in proportion to the rise of interest,
although the person owing may not pay any
more money and interest than he had previously
agreed to pay; but the change in the interest of
the dollar has increased both the dollar and its
use in value, and the labor to be performed or the
property to be sold for the payment of the debt
falls short IN value In the same ratio that the mo-
ney has increased in value. Witness doubling
the pound in weighing cotton or the yard-stick
in measuring lenSh.


T,celfth, That change in the rates ofinterest
makes some individuals lose exactly what the
others gain BY the change, and no person in the
land remote that his property is not affected
byit. That the rise of interest changes the base
of every contract; that the debtor has to pay
double, treble or quadruple the value that he
agreed to pay, and if the holder be money
lender and out OF debt, he reaps much advantage
from his debtors loss


Thirteenth, That the stockobbing business, as
It's called, not only gambling but species of
fraud of much deeper die and far more pernicious
to the welfare OF the public.


Fourteenth, Thatthe States, by these changes IN
interest, are compelled to make great sacrifices on
their bonds, and these are tax upon the property
and the future industry of the citizens, and a
clear gain to the money holders who have perps-
trated this iniquity and who profit by the hard.
ships they have imposed upon others.
| Fifteenth, That Labor, and Labor only, pro-
duces wealth, and therefore under just laws the
laborer would receive q proper reward, and no
man who was able and willing to work would be
| in want of the means necessary for a comfortable
support,