People's Pilot, Volume 3, Number 43, Rensselaer, Jasper County, 13 April 1894 — Intrlnsic Value Sophistry. [ARTICLE]

Intrlnsic Value Sophistry.

Gluten is an intrinsic property which attaches to starch, but there is no intrinsic value in gold or in silver. .Just now they each have a commercial value, but those values would be changed in twenty-four hours by a lit* tie legislation. A year ago to-day the gold dollar had a value which was equal to five pecks of wheat. To-day it has a value which is equal to eight pecks of wheat The intrinsic properties of the wheat were the same a year ago to-day as they are to-day. A bushel would make just as many pounds of flour out of which could be made just as many biscuits, and no more can be made to-day. But the relative value between the two has changed. The wheat itself has not changed; the gold dollar itself has not changed. All their intrinsic properties are just the same, but they have drawn apart, and there has been no over-pro-duction of wheat. Hence we take it that the change has come solely from the fact that the uses for gold have increased, hence its price has increased. —Salt Lake Tribune.