“Yes, sir,” says I, “that is fiat money, and fiat money is the only honest, true money we can have. Any other kind is a deceit and a fraud.”
Jobe twisted and would have got away if he hadent a been tied. As he couldent git away he snorted out:
“What good would that money be in Urope?”
“The very best that could be made, so far as you and your likes are concerned,” says I.
“Whats its basis? Whats its basis?” says he, “a hundred cent gold dollars or fifty cent silver dollars?”
“Neither,” says I. “And as long as we have so many grains of gold or so many grains of silver or so many grains of both as a basis, you and your likes will be a payin high interest with low-priced grain.”
“What!” says he, “no standard! How are you to tell what your dollar is worth?”
“We will have a standard, Jobe, and the best standard in the world, and the dollar will always be worth one hundred cents, and each cent will be worth ten mills.”
Jobe looked puzzled, but inquirin like.
“Now, Jobe,” says I, “dont you know that the law that says that the dollar shall be of the value of so many grains of silver or so many grains of gold is what makes everything you raise low in price? Rich people can make the gold or silver scarce and dear, and that makes every dollar, either paper or metal, dear also, and the dearer the dollars the more of your grain or the more of your work it takes to git them.