, 1877-10-11
A REDUNDANT CIRCULATING MEDIUM AD.
VOChTf0,


CHICAGO, Oct 1o,-Fron 14B2 10 1900 tbs IN.
nuAl product Of gold aud silver according 70 some
authorities, waA but $500. 600 throughout the
world; from 1900 10 l345 It wA4 calculated It
81, 200. 600. Aftcf 1dla, owing to the diseoy-
cries Ia Peru, tho amount suddenly increased to
$12, OO0, 600 per ahnum, and Afterwards " ap.
wards Of SIC. o00, 0oo per annum. In 1919 only
So, GOO wa produced By the mines Of Russia; tn
lH:,0 ths amount had increased to 81, COO. 600. In
1910 the natnes Of Siberia wers discovered, which
greatly Increased the yeartr product, ~ tho gold
minea IN Russia Ia ona year yielded 310, 600, 0o0
1t II estimated By Michel ChesaiIer, The emtnsht
FEcneh writer on finance, that A3tes tns d!scossry
OF the gold mines OF cal!soEula about - much
gold was produced uresy ten years - during the
$50 ye1s which tntsrvened between the dlAeoTctT
OF Amclca and The year 1B48. and that the present
production IL dvs tir,es ~ Rreas - In lst7. Tho
result OF 1ha imitation ws2 decline In tho value Of
gold and silver, and A advances In tha Yniue OF
commodities, until tn TIE fourteenth century 1t 70.
outrs4 three tllnss ~ much money ~ bcfore to
sIs id dep,ee.ated aatil IL wa worth oni5 asS
ssroae.ek. M %,1 Goals % Il. ao,I.r. 4 fett.ia
quantity OF wheat which cost betore tle soraga Ut
tceniA century s.: and in the hrst half Of the nns
so I'd feaaI Il s;ss
quantities, ea4!ly accessible aud coating sllght
outlay Of money and labor 70 obtain and prepare
tioai The value Of specie il lied by three fhiugs:
ths labor Of obtaining II. it, uses In the usetul and
aus att. saa ~ - na; ts :aas1a q VI.
Affect il value. This fset u. Tho world needs about
70 much money; y !he smouat that IL sanc!en! Is
nefsa.e4 diminished prices stss Of fall whsther
tha nuaaeia, problem 10 \ nutshell
during m thS war produced sxv.a.ion .btoad. -. VI
tsssst @ ssa I'd =
/. .t.u ttArk k-+&
IL Earops - weil A. u ID. Uul.ed states, tut by
den,ouettxing silver Germany dn.es Il tFun, tho
medium. PItees declined and business *t12nst0n
followed slnca the War eouttsct!on Ut tbs papcs
moasy hrs resulted In lower PRICES anA bank
sn s'''s q es' fSo
!ndatlon u not to b. eondnsd to his 0fesnbAektE,
ior - sss that Innatoe 'ean b. accomplished
medium, oas that viii Adaut isa* 10 tbs w.nt uf
natufsi l4w. Of supply saa demand. %. can this
BE- eest brought about! Dur National. Bank ~
tenn, in ! mes.use, viii meet ths call. When trade
circulation eau b. a.sA by the deposit oi bonds
aud ths Is.us Of tspk hllls. Ths only danger !.
That urged By Zen. Jackson axainss ths old United
| Sla.ea Bank, thal in taa Lands u designing men
It can b. made thu Instrument Of forcing lextsla.
tion tn ths interest of 1ls monsJed elasa, Of n
I'll Ths ~ o1hsr ns,aod IL BY sssa.n.nx .psets p.y.
menta, which viii gtvs VI tbs same sasa Ct sslaes
~ prevails throughout k1t HotIAs IN NRGG G4&S
| gold and silrsE will COW 10 thM country Ia pay
ment Vt our exports strikes NE that thts Il tos
7 oaly argument in favor Of resumption, not
| because cur paper money ia mol good enough bnt
because w shoaIa hAte pur monetary tystrnl bs4ed
| upon ths sanss standard - Other civilized eo1n'
ssles, and su this wsJ obtsn their su!pls' speets.
sad bring about healthy and natural EedanaansS
fess Of uousy being lsss 10 ons couatr5 than In
eaothsr-EnxAnd and France may have 80 pes
| capita to our $1k. TINS. II Investigated. ths
eoinalere<, Inxnd aul fustISu. will show the sAlas
proportion. and, bs4lua. thiuk II doabtfal Il any
other peop!s % ~ large part Of thelr basinsss
| A. TO The reconciliation VI silver. tncra ApnsA15