14 THE SUN. 



labor, I get seven hours labor and three dollars, must I not again 

 measure my three dollars by labor, before I can count my money ? 

 And if in doing so, I tind that the dollar, measured by the natural 

 labor products of the country, is not worth more than fifteen min- 

 utes of my labor, then I should find myself ijreatly cheated. 



Likewise, any commodity other than gold, as a measure of labor, 

 would be as unsuitable, with which to make contracts. If, iustead 

 of a labor note, I take, for my service, an order for a bushel of 

 wheat, and carrying it a year, present it to the farmer, the changed 

 conditions of production might bankrupt him, or, when considering 

 the cost, might bankrupt me. For the average product of labor, 

 during that'time, would be other than a bushel of wheat. But, the 

 labor,''throughout. remains the same. Therefore, it can, at any 

 time, both measure, and redeem all commodities. It is the only 

 just statement of the elements in the human equation between the 

 contracting parties. It correspoud.s with the only defensible postu- 

 late concerning property and price, and a currency which is just, 

 may be said to contain nearly all the elements of a perfect one. 



A FREE CUIillENCY. 



Having provided against the inherent injustice in the gold dol- 

 lar, let us proceed to rout it from the royalty of its bankii g prerog- 

 ative. In oliiiM- words, to put a sto^) to the toll it in.po.ses, as apart 

 of profit, and which it styles interest. 



If a paper dollar can" be issued on a tirtitious gold dollar, it can 

 be issued on a house, that will sell for gold dollars. If in one ease 

 the interest is saved to the banker, in the other case, it is saved to 

 the property holder. And when the value of the house is so many 

 more times that of the gold, it is easy to see which will be the lirst 

 to "suspend specie paynuMit." For, as it happens, when the bank 

 fails, its real specilic basis is the assets of its patrons. Now, un- 

 less the sinner is greater tiian its redeemer, what is now being 

 done under usury, can be done at cost, providing the property hold- 

 ers only hav(; tlitf proper machinery. 



Hut is the way to do this perfectly open to all our givernmeutal 

 brethren ? If not, we shall have to stop and give them a lift, for, 

 unless the ground of action c(»mmends itself, we shall be (tailed 'im- 

 practical.' Let us, th.'ii, briefly state the grounds for, and the na- 

 ture of « free currency. 



First, we have the riyhl to make exchanges. This right is only 

 .second to the right to produce. Without it, surplus products must 

 perish on the spot. And in expediting exchanges, parties have 



