Functions of Government; A Development of Principles That Necessitate the Existence of Government - Softcover
Synopsis
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1897. Excerpt: ... CHAPTER X. MONEY--ITS EVOLUTION. What functions, if any, has the government to perform in regard to money? Before an answer can be given, a correct understanding of money is necessary. Let us then first proceed to ascertain what money is and what functions it performs. To be free to investigate the subject, let us suppose the term money had never been used, nor any other term to denominate what we now call money. Let us suppose, also, that no government has ever passed any law regarding it. Wealth includes all objects of value, that is, all objects of man's desires which can be obtained only by man's efforts. A man might possess wealth, then, outside of society, where he could use and consume it, or store it as long as the article constituting his wealth could be preserved without.decay. Outside of society, however, he could borrow of no one, lend to no one, contract no debts, nor trade with any one. In society, also, he might possess wealth, and the wealth of one man might consist of articles of one kind, and the wealth of others, of articles of different kinds. The wealth of some might consist of articles which would decay quickly, and cease to be wealth, while that of others might consist of articles which would retain their values for a long period of time. In society, as out of it, each might use and consume, or store his wealth until it would decay, but in society people might do with their wealth what a person could not do with it outside of society. In society people could borrow of and lend to each other their articles of wealth, to be used and returned; or they might trade with each other. For illustration, one man might give to another some hay in exchange for some fruit, or he might sell to another his fruit upon agreement that the purchaser s...
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