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The Adair County news. (Columbia, Ky.) 1897-1987, December 28, 1910, Image 2

Image and text provided by University of Kentucky, Lexington, KY

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn86069496/1910-12-28/ed-1/seq-2/

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fJ > Origin and Uses of Money I
4 > otten for the News I I
Money is gold or silver ed1
rvAby the general goverment and 1
wade a tender in the payment ofth
jebtsf 11
f ITh rlpsire ta exchange someI
thing which we have the pro
t duct v of our own labor or skill toco
something we do not have which
will serve to increace our com
forts and happiness is a natural 1
law of manto
f The individual member of so II
I ciety inits most primitive age 0
understood the advantage of ex
changing the surplus of some
Tthing he had for something he
did not have and which woultr t
contribute to his wellbeing
y In early ages the hunter ex
changed his fur skins for powder
and lead and those who tilled
the soil exchanged the surplus of
their crops and herds for imple
menu clothing and other ne I
cesities as well as luxuries which
they could not produce The dif
ficulties of exchanging property 1
for i property were so many that 4
it became necessary to adopt 1
some measure of value with
which to facilitate exchange
> The farmer with a sur lus of
wheat or corn could not findw
man with farming impliments toI
trade for wheat or corn
This led to the adoption of
some commodity which could b e
used first as a standard of mea
sure of value second as a med
ium of exchange This commodi
> ty is called money i
A commodity which is univer
sally acceptedas a medium of II
exchange naturally becomes a
standard of value by being con J
r tinually brought into comparison
with other commodities
Among the things used SB
money by various people within
the historical period are cacao
beans salt silk furs tobacco 4
dried fish wheat rice olive oil
coverf 3 T
shells iron copper platinum j
K nickle silver and gold
j It would be difficult to say
> what had not been used as money
at some time or place Our own
history furnishes an abundance
1t of curious examples the most in r
w structive being the tobacco curE
I <
S rent y of the colonial period It
t > f may be said that Virginia grew
I her own currency for nearly two °
V centuries and Maryland fora
r t century and a half b
r > r tl
JuI 1 Y f
ff 3I 1619 and the first law pass d c
J r was one fixing the price of to r
ri vbacco at three shillings for the I
1J 1 best
fest I b
forn a
> < Bidding the making of contracts S I
payable in money thus virtually I r
making tobacco the sole cur a
r rency The cultivation increased
ilso rapidly that the price fell In
x v order to raise the price steps x
r were taken to restrict the amount
v grown and improve the quality J
1 The right to cultivate tobacco
< i > was restricted to 1500 plants PC red
v Ipoll Carpenters and I other me
chanics were not allowed to plant
3 V jf tobacco or do any work in the
> t
j ty I ground There measures were
It < ineffective and the price continu
C 1 fit ed to fall Then it was agreed
r j ite d1 stroy half the good and all Il
r i Q nli IIe bad
l 1 iooflraodity which JsHableto
r dQ atidrsudden changes + of sup
t 1 o I desirable one th e
U 1i1 tn e J J
r J K > ij f h e 1
> 4 i a t
jt t J ga
t t fR
d > f h f > rf R
i Ff r Ij iit
ii 5ii
II 1683 an extraordinary series rJ
of occurrence grew out of the I
low price of tobacco Many peo
Ple signed petitions for a cease
tion of planting for one year for
th e purpose of increasing the I
price As the > request was not 4
granted they banded themselves
together and went through the
country destroying tobacco
plants wherever found
The Assembly in 1684 passed a
law declaring that the malefac
tors has passed beyond the
bounds of riot and that their
aim was the subversion of the
number of eight or more should
go about destroying tobacco
traitors and suffer death
In 1727 tobacco notes were
legalized These were in the na
ture of certificates of deposits in
goverment warehouses issued by
official inspectors
They were declared by law
current and payable for all to
bacco debts within the ware
house district where they were
issued They supply an early j
example of the distinction be
tween money on the one hand
and goverment notes or bankot
notes on the other J
The tobacco in the warehouse I
was the real medium ofex
change The tobacco notes were
orders payably to bearer for the i
delivery of the money f I J
The circulating medium of the 1
New England colonies was quite
as fantastic as that of Virginia r
Massachusetts used musket balls j
in 1635 in 1640 Indian corn 1
wheat rye beaver barley and
peas were used dried fish were c
also added to this list Taxes
might be paid in these articles i
and also in cattle tobe apprais
The need of metallic cpr j
rency was severely felt A con c
stable once collected 130 bushels
of peas as taxes in Springfield
He found that he could trans 1
port this public revenue most
cheaply by boat Launching it 1
on the Connecticut River he
shipped so much water on board c
werY e
thatn E
money ought to be easy of car c
riage and not liable to injury by
exposure to the elements o
The American Indians money r
was call wampums and consisted ii
of spells with holes punched ii
through them so that they might
be conveniently carried by placing s
them on a string I
Other countries and notions f
had each its special article or a
commodity which was used as tl
money or medium of exchange o
and which was always selected a
because of its common use among tall
all classes and conditions a
In modern civilized countries t
money consisted chiefly of goldt
and silver coins This led to the I p
adoption of our monetary stem j
Our monetary system was origi e
nated in 1792 and was modeled 1
after the Spanish Dollar The I
dollar takes its name from Dale i
the town where it was first coin
In civilized life in order to
ntcarry oti commerce we need a 1
medium of exchange therefore
we originated a System of money
Money is as essential to the in
terchange of commodities as
language is to the interchange of
Money in order tonteet the de
mind and mike the exchange
mustha v e the following quali =
tier viz durability portability
dilalblht and un < itoIl Y >
i al p 2y <
tfT jj i 5
fT 4
Y G f 11 y + 1 7 1
l Y f f r N 4 d ni
TBVSiJ5ci >
These qualities seem to exist in It
gold and silver to a greater ex 1
tent than is embodied in any
other two metals i
Money must be made put of a
substance that will not rust or J
decay when stored away or will
not wear away fast when in use
It must also bemade of a sub
stance that the goverment can
easily stamp its value upon its
face it must also be something
in universal demand so that it
will circulate widely Gold and
silver possesses these qualities on
account of its prior use as < onus
Money must contain a great
store of value in a smalP space so
that great value could be easily
carried It must be of a sub
stance that can be easily divided
into parts and each part of the
same weight must be equal in
Money mus be pf a substance e
that will have a uniformity in
value all over the country so
there will be no confusion in the
interchange of commodities
The question might be asked
why would not diamonds or some I
other substance do as weir ba
gold or silver as diamonds would I
have the durability and portabi
lity that is true But diamond I I
couldnot be so easily divided
into equal parts of equal value
nor could the goverment stamp 1
the value upon the face so readi
ly neither can they be refined so 4
readily as gold or silver there I
fore the intrinsic value would bej
The shape of coins are usually I
circular but some are square I
others oblong others cubical I
Many ancient coins were dish I
shapedot ers in the form of a I
ring The first coin struck by
the goverment in California were
octagonal The copper coins of I
China called cash navejt
square holes in the center by I
which they are strung on a wire I
and hung around the owners 1
neck 1
The objects to be aimed at in
determing the shape of a coini
are freedom from abrasion ex
emption from alteration and I
convenience in handlingo
The successive steps in making
of coins are lj assaying 2j
refining 3 alloying 4 coin
ing The bullion is fii st melted f 1
in a crucible
While in the melted state it iw
stirred until thoroughly mixed
It is then allowed to < cool in the
theI j
form of a brick Small pieces j
are clipped from two corners of
the brick most distant from each
other and given to two different
asspyers to test the fineness of
the metal If their test do not
agree vilhin a certain fraction i4
the brick is returned to the
melting pot and the process re
peated When the test is sari s
factory and the amount of for
eign substance is v known the
dwhole of the impurity is removed 1
by chemical means Then the
requisite amount of alloy is ad
ded be remelting and mixing to
harden the mass Thus to nine
pounds of pure gold one pound of
copper is added so that the coins
shallbe ninetenths fine
The bullion is rolled into striPes
or ribbons a little wider than
the coin to be struck It is then
drawn in a machine which
reduces it to the thickness of the
coinsTlie strips area then adthe
through another machine which
cuts out them circular pieces of
this proper aiIie called bulks t
Each blank is examined ljjr a11 r
If i
1 1
1vrf <
1r tjd
C rk f r rJi1t d t
a Yu > dv
< j i i > t < 17i v + i > t
0 J
1a1 u CJ r
expert both by weighing and by
sounding If one is found too
light or it does not ring true
it is returned too the melting pot
If it is to heavy the excess of
metal is removed by filling
The blanks are sent to a ma
chine by which a slight rim is
raised around the edge of the
piece on both sides so that its
weight shall rest on the rim and
not on the surface of the whole
coin in order to minimize the
abrasasipn This process is call
ed milling n
The blanks are then v put in a j
cylindrical case and sent to the
coining machine At each revolu
tion of the machine one blank
drops from the bottom of the
cylinder is siezed and conveyed
to sunken steel bed which con
tains a die that prints one sur
face ofa coin This bed has a
serratededge or collar Di
rectly above this sunken die is a
din e
which prints the other surface
of the coin This stamp de
scends en the blank underneath I
with sufficient force to impress
upon it the letters and figures of I
both surfaces of the coin The
presure also squeezes the coin
against the serrated collar pro
ducing an indentation on the
edges of the coin the object o fI
which is to prevent any clandes j
tine removal of metal If apiece
piece were clipped from the edge
or if any portion were removed
by filing the fraud would be de
totted by the absence or irregu
larity of the indentations
Fraudulent abrasion and clip
ping of coins were a great pest
in the seventeenth century I
Eldridge Barger
IBowlIng Green 0 Ky
An Appalling Exhibit
IThe I
ties in the United States for the I
year ending June 30 are grew
some and appalling The Inter
state Commerce Commission tells
that during the period named 3
804 persons were killedand 8 31
374 injured This is an increase
lof 1013 in the number killed and
18454 in the number injured I
over the previous years figures
There were 6861 collisions kills
ing 433 persons and injuring 7 l
765 and damaging railroad pro
proIf j
perty 4629279 In the yearsl
5910 derailments 345 persons I
were killed and 4815 injured
During the last three months of
the year the total killed and in
jured was 20 6501 The slaughters
of war are but little more hide
ous than these appalling statis
tics Ten persons are slain and
more than 2200 wounded every
day of the year by the railroads
lof this country
A Slick Article
A story comes from Ohio that
in a certain congressional dis
trict in that state theG 0 P
candidate gave his contributions
nhe fund in the dif
ferent counties in checks dated
the day after the election He
explained that he was doing this
to heat that fool law about re
porting expenses The commit
tees held the checks putting
their own good money into heat
pot When the day after the
eselectionn rolled around the maker
of the checks had been elected to
stay at home and When the
checks were presented there
Naturale 1 y
lamentationad in
reinch no
py candidate has elimmated
himself from future consider
t nt the hands of t > iafaithf ul
f kf rt Toiirrl k
ro t t
< Si IlIJ J
d L r t 1r1 r ff J s
i < f f i Kt1t l
t arr1
A l < iJ r C < l > f c l
Value of Vital Statistics I
Kentucky can boast of the
wisdom of her legislators in pro
viding for the people of the Com
monwealth a means of register
ing their births and deaths and at I
thesame time perfecting such a 1
system in conjunction therewith I
as will be a means of protecting
the health and lives of her citizens
There is hardly a relation of
life from the cradle to the grave
where the evidence furnished by
an accurate registration births
and deaths may not prove to be
of the greatest value After a
little in the fireproof vaults and
Vital Statistics in the form of
original birth and death certifi
cates made at the time of their
occurence will lie legal proof of
inestimable value in the ad
ministration of estates relations
of guardians and wards the set
tlement of pensions the require
ments of foreign countries con
cerning residence marriage and
legacies in determining the disabilities
abilities of minors the age of
voting for military and jury ser
vice entering the professions
and many public offices liability
under the child labor laws the
age of consent andof irrespon
sibility for crime
That human lives for so long a
time should have been allowed
to make their entrance and exits
without an accurate immediate
and authoritative record having
been made when so much of
value from a socialogical econo
mic sanitary or historical stand
point depends upon a positive
proof of these two events is a
strange situation
That Kentucky should be the
first State of the entire South to
enact such a law and the first
State to create a Bureau of Vital
Statistics since the passage of a
resolution by the Conference of
Governors to consider the con
servation of natural resources in I
which it was urged as a fundamental
mental necessity is a matter of
State pride and selfcongratula
Kentuckys laws creating the
Bureau of Vital statistics is of
special and added value from the
fact that through the hundreds
10f local registrars appointed a t
distances of a few miles over the
entire State the Board of Health
as soon as the present arrange
mentsare concluded will receive
rep01tsofall infectious commu
nicable and dangerous diseases
This information together with
that furnished through the cer
tificates of deaths will be of the
greatest value in enabling the
Board of Health to control pre
vent and stamp out these pre
ventable diseases which annually
take such heavy toll in human
life CourierJournal
Yn I
The best sale of yearling mules I
that teas ever been made f in Boyle
county was consumated when
W T Robinson of the Faulconer
section sold 24 head to Mr T
N English of Statesboro Tenet Ii
ermules was not only the highest
priced one that has everyone
from the county but taken as a
whole the best lot that has been
seen 1 n this section in many
Inyears J H Bean sold to Mr
English ten head at 137 per
Ii dr Bean also told a very
Eul 9
Penaulot Florida at
t 1 j 1
jSt f
1Y sll x ftlp
t I s t yt o < j r <
Abou Sixty Young Ladies 0u f
After the Five Piano Prizes
The Adair County News and Russell
Co joint prize offer of 1400 00
Five Standard 1910 Krause Pianos for
the five most popular young ladies in
Adair and adjoining counties is now in
I full swing and votes are coming in at a
I rate that speaks well for the Value of
l the prizes offered
I Right now is the time to name your
candidates for popularity honors and
incidently put her in line for b standard
1910 Krause Piano Absolutely no cost
I to either yourself or the young lady you
r Coupon Batpears else
I where in this issue will put the lady of
your choice in line with 1000 votes to
I her credit Suppose you do it now
There are 200 young ladies in Adair
and adjoining counties possessing ex
ceptional musical talent and must re
main undeveloped because they lack a
pood piano Dont this give you an
f idea You can put some friend of yours
in line by writing her name on Coupon
hB and mailing it to this office and
you can keep her in line by clippingI
the coupons that will appear in every
issue of the The News Watch for
them and get your friends to do like
wise x
Every candidate entered has five
chances of winning a piano prize Each
prize offered represents an elegant 1910
t ivrause Instrument
Ballot box now open and prize on
view at Russell Gos store Your
inspection and criticism invited Votes
will be counted every Monday night by
the following committee
J W Flowers cashier Bank of Co
lumbia Robt Reed of Reed Hardware
Co Bruce Montgomery Asst cashier
1st National Bank
Candidates names and their standing
ill appear every Tuesday in this puoli
Russell Coare offering bonus
votes to candidates bringing business to
their store 200 votes will oe given for
each dollar purchase made from this
general stock and 1COO votes for each
dollar purchase from their newly estab
I lished Jewelry department Candi
I dates will learn something to their ad
vantage by calling at the store and con
ferring personally with the Contest
manager He has three plans of sys
tematic vote collecting which will be of
great advantage to the young lady can
didates who mean busine s
Watch for the list of candidates to
appear in next Tuesdays issue of the
News If the young lady of your
choice is not entered see to it that she
j Coupon B todayNow
Kentucky Game Lawsf
Are you a nimrod Do you
know the game laws of your
State NoZ Well it is high time
but take a tumble to yourself
Get wise and have yourself a
pretty penny For the benefit of
those who do not know when f
game is in and out of season the
Herald herewith publishes the
game laws of Kentucky
Deer Sept 1 to March 1 Black
or fox squirrelJune 15 to Feb 1
Wild goose wood duck teal and
other wild ducks Aug 15 to
April 1st Wild turkey Sept 1 to
April 1 Woodcock June 20 to
Feb 1 Quail partride or pheas
ant Nov 15 to Jan 1st Rabbit
and squirrel Nov 15 to Feb 1st
I r
also June 15 to Sept 15 <
IDoves Aug 1st to Feb 1st
Sale of wife turkeys pheasants
grouse partridge or quail pro
hibited Transportation prohib
ited except when in possession
of the hunter English ringneck
or Chinese pheasant protected
License fees are charge by the
clerks of the county courts The
clerks fee or nonresident li >
tenses in the state where the ap =
plicant lives It is unlawful to jj
shoot finch thrush meadow lark
stmartin swallow red or blue bird
catbird or any other song or ini
sectiverous bird Possession of
animal or bird within prohibited
time is evident of guilt Hunt
ing on inclosed ground without
consent t over is unlawful
I will Mil nay bpuee and oa acr vpf V
rrowod at a b j aiD Good jdeatiM ri
< 7f2t f T oii
i < f
it fr + c
u f jr 4 i r > itj1t f r

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