Rensselaer Republican, Volume 13, Number 21, Rensselaer, Jasper County, 10 February 1881 — Aristotle on Money. [ARTICLE]

Aristotle on Money.

M. Y, I»d»pwd»rt . . Aristotle, the great philosopher of antiquity, alludes as follows to the theory of coinage as existing and practiced in his day i.is “It became necessary, therefore, to think of certain commodities, easily manageable and safely transportable, and of which the uses are so general and so numerous that they insured the certainty of always obtaining for them the articles wanted In exchange. The metals, particularly iron and diver and several others, exactly correspond to this description. They are employed, therefore, by general agreement, as the common measure of exchange, being themselves estimated at 1 first by their bulk and weight afterward stamped, in order to save the trouble of measuring and weighing, them.” So wrote the great philosopher, more than two thousand years ago, expressing not only his own thoughts, but also those of the age in which he lived. The elementary ideas in the language are the following:

11. Honey is a commodity, andjj •« such, has valuetmlepewleully of i<« use money. It Is something that men want.as a commodity and use - • such for tome of the purposes of life S. The commodity that Is best-ads pr. ed to be used as money isone that is “easily mauageahto and safely portable, and of which the uses are to generk! and so numerous*that” fliey will Insure* “the certainty of always obtaining for” it “the articles wanted in exchange.” 3. “The metals, particularly Iron and silver and severe!'others,” best fulfill* the enudiiiona«of*ka requirements. , , m 4. The stamping of these metals, when used as money, ts simply a contrivance ’•to save the trouble of meas-

uring and weighing them.” The stamnmgdoes not change the chsrhetor or the metal or increase its qu&ntit y of ryal value; hut merely indicates the quantity and tfcußseWto the convenience ofthoae who use it m money. These are the notions about money that existed in the days of ArisfMleAhkt'pieceded iff# times, and-* tkto -havo- existed si| over the wpr*4 and wi|l continue, to exist to !3UUIF»S&aashdwirby the practice of the nations. Whateeri: bps been selected as money has had a, commodity, value, upon which the monetary use was grounded. f’br t-aribus reasons, gold and silvery *e» * commodities, have been found best adapted to this use; and, hepoe, toe general judgment of mankind, after numerous trials of other coTTrmoflinef, has fixed upon them as the best articles of the globe "for commuting the virtue usu» other articles. Tbis judgment has stood the toot of ages, ana it will stand the tost of all time. T ' 11 7 " •