In Texas, the 1844 presidential election of the Republic of Texas resulted in Anson Jones defeating Vice-President Edward Burleson Jones by 7,037 to 5,668 votes. Inflation had made the Texas currency almost worthless. By 1912, the United States, including Kansas, was operating under the gold standard. This meant that the value of the dollar was tied to a specific amount of gold, and paper money could be exchanged for gold at a set rate.
Today, cashless (or digital) transactions are basically invisible numbers masquerading as money. In some ways, it is WORSE THAN BARTER. With barter, a person might trade two bushels of wheat for a chair. Or a bushel of corn for a pillowcase. It is cumbersome, but it is, at least tangible.
A century ago, a Nebraskan named Ernest Platt Buffett operated a small grocery-store. He handled gold and silver coins in transactions every day. He was a member of the Masonic Lodge as were his four sons: Clarence, George, Fred and Howard Buffett. It is interesting that Howard H. Buffett briefly served as a United States Congressman. He was a Presbyterian, a member of the Scottish Rite, his York Rite affiliation is unknown, but he was a past president of the Square and Compass Club as well as a member of the Tangier Shrine Temple in Omaha. Howard’s son, the famous billionaire investor, Warren Buffett never did join Masonry like his father, uncles and grandfather. Warren Buffett has openly proclaimed that he doesn’t believe in Almighty God. I feel sorry about that. In some ways, he has a folksy voice and is good with stocks — yet I remind others that with his fleet of lawyers and accountants, Warren has had “a leg up” at investing with such an advantage. In many instances, a person can be “rich on paper,” yet their real assets might be considerably lower, even minimal and/or mired in debt. To be sure Warren Buffett isn’t a pauper, but it would be interesting to see what long-term tax write-offs he’s made over the decades. To me, tax write-offs are okay in very limited situations. Yet, in actuality, they are accounting maneuvers to “deduct” from Peter to pay Paul.
In my opinion, I place a higher premium on things such as good health, good family and friends, a good spiritual anchor, along with things that served people well even in Biblical-times well, such as gold, silver, food on the table, reserves of fuel and grains, livestock, and a roof over my head. That, is a better definition of “genuine wealth.”
Kansas has supposedly many millionaires and a few billionaires. It is tough to comprehend that one billion equals 1,000 million dollars. I’d be content with a mere million. A reasonable person couldn’t spend the “interest on a billion” prudently or sensibly. I am especially leery of crypto-currency and other newfangled coin substitutes. I feel America’s Founding Fathers had it right when they decreed in the Constitution that ONLY CONGRESS has the ability to mint gold or silver coins. I feel that all of that could vanish in a blink of an eye due to power-outages or computer-glitches. Furthermore, it seems prone to easy crypto-hijacking.
Our forefathers had it right. Whether it be via assay offices or when we enter the Pearly Gates of Heaven, the maxim is still true — “Worth is tested by Purity.” Gold, like an honest person’s character, holds its value. Worth and Integrity surpass cheap imitators.
James A. Marples
Esbon, KS
