bifurcated interests involved, during the whole period of the dealing up to and including the time of the maturity and of the settlement of the dealing.

The means suggested for accomplishing this object are based upon the one element of certainty which we can foreknow about the condition of the bifurcated interests of lenders and borrowers, of creditors and debtors, at the maturity of any business dealing, namely, that those interests will diverge, will vary, in some unknown and unknowable degree, according to the ever-varying circumstances of production and exchange, and provision is therefore made for the automatic adjustment and equitable distribution of this divergence, this variation, between the interests of lenders and borrowers, creditors and debtors.

The system is embodied in the following Symbols:E=The money value of the transaction at the inception thereof.

F= The quantity of the Regulator article of physical wealth selected, agreed upon, and recorded of

the money value of the transaction at the inception thereof.

G=The price of the standard unit of the Regulator article of physical wealth selected, agreed

upon, and recorded at the inception of the

transaction.

H=The price of the standard unit of the Regulator article of physical wealth selected, agreed upon, and recorded at the maturity of the transaction.

I= The standard money value, or the present worth of the transaction at maturity.

J=The quantity of the Regulator article of physical wealth selected, agreed upon, and recorded of the standard money value, or the present worth of the transaction at maturity.

As in determining standard time, we do not rely solely upon artificial measures of time-chronometers, astronomical clocks, &c.-these are being daily adjusted, with mathematical precision, so as to make them correspond with the natural measures of time-the sun, the moon, and the stars; even so in determining standard value, we should not rely solely upon the artificial measure of value-money; its numerous variations— as manifested in the ever-varying prices of all articles of physical wealth, other than gold, or other than gold and silver, should be recorded daily, so that in all inter-temporary transactions there may be always available, for their equitable adjustment, an authoritative register of the prices of all articles of physical wealth and of the variations of such prices in time.

Of course we need the artificial measure of valuemoney, just as we need the artificial measure of time— chronometer; but as we do not rely solely upon the artificial measure of time in determining standard time, the unequivocally correct time of day, neither should

we rely solely upon the artificial measure of value in determining standard values, the unequivocally correct values of commodities, adjusted according to their variations in time.

Certainly the magnitude of the interests involved makes the daily determination of standard value a matter of public importance equal to the daily determination of standard time. If wealth can be set aside for the employment of astronomical experts, for the equipment of time observatories in order that standard time may be determined daily with unerring certainty, wealth cannot be wanting, wealth can also be set aside for the employment of economical experts, for the equipment of a Department of Values, to be added to the Board of Trade or Treasury of every nation, in order that, by means of the daily publication of an Official Standard Price Current, which shall be the daily particular average of the price of the standard unit of each staple article of commerce on the principal national exchanges, the variations of inter-temporary values, as manifested in the difference between the price of the standard unit of any staple article of commerce at the maturity or termination of an inter-temporary transaction, as compared with the price of such article at the inception of such transaction, may be equitably adjusted and standard value determined with unerring certainty.

Of values distributed in space every one interested may be thoroughly informed, may know daily, in these days of the omnipresence of lists of current prices, what

are the actual variations of value by reference to the reports from the produce and stock exchanges of the world, as they are flashed with lightning rapidity broadcast throughout the length and breadth of the realms of industry and commerce.

But of values distributed in time, no one can foreknow exactly what their variations will be, hence the justice and the necessity of the Double Standard Money System, in all inter-temporary transactions, in determining standard value.

With standard value so determined, the manifold variations in the value of all articles of physical wealth, of all the staple articles of commerce and industry, could be equitably adjusted, automatically and popularly, and the function of governments, with reference to the standard of value, would continue to be, as at present, simply declarative.

The equation of all inter-temporary values, under the Double Standard Money System, being based upon the prices published daily in the Official Standard Price Current issued from the Department of Values, would be readily and easily adjusted by the parties immediately interested in all inter-temporary transactions, as they may from time to time mature, without any further intervention of officials than is now found necessary under the Single Standard Money System.

The Double Standard Money System, in every inter-temporary transaction, will distribute equitably between creditor and debtor, in every single instance, either the gain or the loss resulting from either the

appreciation or the depreciation of every article of wealth; dividing between them alike "the unearned increment" and "the unexpended shrinkage." Is not this the standard of the honest payment? Is not this the standard of the just claim?

The change from the Single to the Double Standard Money System would occasion no inconvenience to accountants, the variations of money values being written off or written on as depreciation or appreciation, and adjusted through a special appreciation and depreciation account.

The equitable determination of "The Battle of the Standards" is a matter which interests not only private creditors and debtors, lenders and borrowers, but it is also a matter of direct and urgent interest to all the taxpayers of every debt-burdened nation on this planet; and the measure of the degree in which, under the Single Standard Money System, the discharge or settlement of inter-temporary transactions "are not reasonably mutual," is also the measure of the urgency for necessary action leading up to the formal and authoritative establishment of the Double Standard Money System; respecting fully and adequately all vested interests, but remembering that, since 1871, the monetary legislation hostile to the free and unlimited coinage of silver into full legal tender money on private account has in effect modified, in favour of the creditor, almost all current inter-temporary transactions which had existed prior to that date.

Under the Double Standard Money System all