the Function of Gold we the Ealtor of the Nown-Cutsa Dany Nuss"
Sm—It seems strange to me how ttle Informed even many intel persons are. wil Germany had done away with gold because Germany did not need "old but needed potatoes, I might have used as an example of commodives instead of potatoe: coffee, aspirin or castor oil. Te critic apparently did not understand the difference of gold as a commodity.
hat is an article of tangible trade value, and gold as an abstract object For comparing the value of movable or Immovable property. merchandize. service, ete, In this instance have been insuMcient knowledge of the English language which Ted to the misunderstanding. tu many eases. however, erroneous. conceptions are due to not understanding the. real meaning of words, although they are widely used.
Take the word "barter." When two boys exchange. marbles for apples his exchange of commodities is rear barter because It takes place without the elp of a comparative measure fof values "such as cents, pennies or Dfennige, True barter is a primitive and complicated way of exchany commodities. Tk would be barter to exchange a bog of coffee for a hundred mouth-organs, but a valuation of these two commodities dollars or marks or any' other cur rency deprives the transaction of the character of true barter, although may be called barter.
The valuation of an article in terms of 1 currency" shows that trade nowadays needs a comparative rmleasure of value and that measure still gold even in countries having Knowingly, or value of alt exchange quotations.
Tt will be hardly contradicted that international "exchange quotations even today' centre around the value old, with the USA. Dollar as the" most. important currency" vepresenting old, Because the US.A have consistently. accepted gold payment, the value of gold has mained " comparatively stable and practically all currencies have had the" Denent' of " this stabilization process.
That the issue of amounts of promissory' papers, (bank notes, loan' certifieales, ete.) must eventually Tead to a deterioration of he. respective countries' currencies obvious, but that has nothing to do with the suitability of gold as a mone ure for"-computing. the. value Comimodities, serves et Shanghai, Dee, That Greek Ship Sold to Panamanians a letter appearing in your correspondence column this morning under the head= Ing "A. Greek Ship and Panama Flag", we, us agents: of the steamer question, would "appreciate you" publishing "the following for the Information of your readers The s, Hellenic Trader ex. Cathe Fine G. Sudden was pure cha P.. Yannoulatus ty ngewe interests on October 24" with the permission of ths Mi Meveantile.
October 20 ride Mies the Cums Minueste Lises, 1am, i, Dee.
Text read from the printed page and cleaned; old type leaves the occasional error.