| This question <555|576> overall <566|568> Golfer: <564|568>. |
| Question 189: Explain in your own words the meaning of the sentence: “Although gold and silver are not by nature money, money is by nature gold and silver.” |
| [567] Golfer: Gold and silver are natural minerials that are extracted from the earth. These minerals have several purposes which enable us to put value on them. However, these values are similar to that of linen, because, their value is based on the use of the mineral, and are not considered a money. The other way to look at these minerals, gold and silver is; as a medium of exchange, or a money. This is due to the properties of these minerals, and their ability to be measured by weight, with a given value that has been accepted and can be divided without a loss of value. Because of this quality money is gold and silver. |
| Hans: In the last two sentences you seem to be getting on the right track, but it is not explained crisply enough. |
| [567] Golfer: (datestring)Wed, 15 Mar 1995 15:55:40 -0700 (MST)(/datestring) I have indicated the reason gold and silver are money is because they are both accepted as money by the capitalists, and they can be divided without losing value. For example; you cannot divide a coat or it loses value, nobody wants part of a coat. However, gold and silver can be divided and still hold portional value. |
| Hans: Yes, this is one of the properties of gold and silver which justifies the aphorism: money is by nature gold and silver. |
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