Cold, Hard Cash

Papal Coin: Alexander VII (1665-67 ) Papal Testone. Note "The Balance Scales" denoting the fair and equal 'balance' of trade by silver coinage.

I enjoy reading The Kilgore News Herald, from news-stories such as school budgets to advertisements for flooring or lawn-services – one thing nearly all categories have in common is: MONEY.

In our digital Age, many people use credit or debit or credit-cards, many people use online-banking. In those cases, it is just 'sheer numbers' and neither the 'customer' nor the 'provider' sees anything except 'numbers'. While it is convenient, it is also a bit risky in an Age of mailbox-vandalism, hacking, and "Identity theft".

Granted, paper money or "fiat money" was invented both for convenience and to supposedly regulate inflation, it can (and has) been abused. Our National Debt exceeds 22 Trillion Dollars. Technically, Congress ONLY has the power to mint gold or silver coins as legal-tender.

I've always admired that even when Britain first joined the European Union, they insisted on retaining their own currency: 'the British Pound Sterling" or GBP and didn't adopt the Euro. While I understand the premise of the Euro (common currency beyond national borders) – that is one reason that makes it bad. It's putting all of your eggs into one basket. If disaster strikes one nation, it tends to be a domino-effect of calamity. The British were smart-enough to keep their own system of money to insulate themselves.

Granted the initial unity of the EU had its advantages. However, with so many diverse people with so many different languages, customs, and economic policies that usually vary greatly, there was bound to be difficulties. For example, one nation's "welfare policy" was very likely to be drastically different than adjacent nations. That leads to caravans of people seeking a better destiny – almost parallel to the Central American Caravan which recently made its way up through Mexico in a hotly contested attempt to cross the U.S. border.

The Papal States "fell" in the year 1870 and mints basically closed. The 'testone' could be compared to the 'Euro' coin. Just like "roofing" or "lawn mowers cutting grass," hard money has one virtue: it's real and tangible! I'm not urging individuals or families to abandoning using bank-cheques or online. Do yourself a favor and spend responsibly within your means – even if it means paying merchants with 'cash.'




Kilgore News Herald


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