The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1879-11-28
FINANCE FOR THE PEOPLE,
GOLD GOES WHERE IT Is WANTED.

gold. Hence it is alike good In all places and
at all times. Yet men ask, with great anxiety
If We have enough OF it.. To meet that doubt
We have frs; to see that gold always goes where
II is needed.
No farmer is afraid that there may not be
axes, or ploughs enough. No joiner lies awake
nights lest there should be too few planes or
chisels. Gold is only another tool. II is the
the itool for buying. 1t never persisted. 1t
wears out more slowly than any other thing in
daily use. Why is this the only tool OF which
men ever fear that there may not be enough
II axes or planes get scarce in any country, We
know that others Will come from every part OF
the civilized world. But gold can be moved at
less cost than any other tool we use. Why
should we fear that il will not come where 1t is
needed?
Suppose that saws or axes would cut twice
as well, when there were few, ~ when there
were many could there ever be lack Of them ?
Or If ploughs would turn up twice ~ many
acres in day, il they were scarce, should we
not be sure that ploughs would be sent from
all other places, to the place where they could
do the most work? But there is no other tool,
except money, which has this power OF doing
more work when 1t il scarce than when 1t ID
plenty. II it grows scarce, prices fall; that is,
the same amount OF gold will buy more Price
is nothing but an expression Of the compara-
tive desire for money and for things to DO
bought. IL the desire for money gains, as
when 1t IS scarce, the same amount will buy
more wheat or pork, and prices fall. IL the
desire for things gains, as when they are
scarce, the wheat, or pork, or cotton will buy
more money, and prices rise. So the tool
called money, il it ever grows scarce at any
point, instantly begins to do more work; prices
fall and money will buy more there than else
where.
In every part OF the world, men who have
gold are watching prices to see where 1t will
buy the most OF the things they want AS
soon as any place becomes the best in which to
buy, they send gold thither, Formerly this
natural gravitation OF gold to the place where
It was most needed took some weeks or months.
But now the telegraph tells buyers every morn
ing, in all the markets Of the world how much
wheat or cotton they can get for their gold in
New-York. When this is the best market in
which to buy, their orders go by telegraph, and
their gold IN London or Paris begins to do its
work IN this city long before It can arrive here.
Thus more money comes to gold-using
country, and actually begins to do It's work in
buying, long before any wise man or any Con-
gress can detect the fact that more is needed
there. Each merchant may know how prices
Of bis goods at Newly ork compare with prices
Of those goods in other countries, but no man
can know enough OF the prices of all articles,
here and elsewhere, 10 fix the day when the
here than it 10 in other lands. But the instant
gold is needed here, it begins to come, obeying
a Law OF nature as subtle and sure as the law
OF gravitahon. Usually, the first warning that
men have Of "a lack of gold is the news Of its
shipment from abroad, to pay for goods al
ready bought.
In the mighty stream that rushes over Nj
agara, there is power enough to grind wheat
for the whole world. Each great mill may have
. simple device like governor" which, If the
wheels run too slowly, will lift a lever, open a
gate little wider, and allow more water to
rush through to the power wheel. Or, If the
wheels run too fast, their rapid motion will
lower the lever, partly shut the gate, and leave
q little more OF the stream to flow away un-
used. Thus rains and springs far away IN
Canada, Michigan or Minnesota, which furnish
unlimited power, could be made to supply to
each OF many mills only the exact amount that
it requires. In like manner, the laws of ma
ture put the gold from all the mines and vaults
in the world at the command Of gold-uslng
countries, and go perfectly regulate the supply
that each can get exactly what it needs. II
prices go too high, and the wheels of trade run
too swiftly, the gate begins to close, and less
gold comes because less is needed. II prices
go too low, the self-regulating law of hard
money opens the gate, and more gold flows in,
from the mines Of Austfalia or the bank
vaults OF Europe, to meet tho need. That
share goessto each country which its work re-
quires. II 1t needs more, prices fall, il sells
goods cheaper and in greater quantity, and
gold comes in. II it has moro than It's share.
prices rise; 1T buys more goods and sells fewer,
and gold goes out. We have power to NEEDLE
with this most beautiful and grand arrange
ment, and can cut ourselves off from all its
benefits by the use OF bad money. But we
have no power to improve upon the plan of
nature by shutting out the only Lind OF money
the supply OF which is virtually unlimited, and
is absolutely and surely regulated each day by
the needs OF each nation that uses il.
What would be thought OF the farmer who
should wall in his farm, 80 that he could never
get more seed or tools If his supply should
fail? Bad money OF any kind drives gold out
OF use. II shuts out the vast supplies OF good
money which como from all over the world to
no. II.