The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1879-04-10

drill corn over hills, provided the
proper distance is given for the
plants. 1t would be easy to obtain
diminished amount from the drills
|if to thinly planted; or ears of inferior
quality if much too thick.-[Country
Gentleman. 80,
Decentralization.
Redwood Falls, April 7th 1879.
For the Redwood Gazette.
The scheme of demonstration or
|iginated in Europe, soon after the
discovery of gold in Australia and
Europe and California, at a time
when the yield was at what has since
proved to have been its NAHUM, but
which was then expected by many
distinguished writer's on finance, to
continue ON an ascending scale for
an indefinite period of time. Emin-
ent English and German writer's on
finance, DeQuincy Chevalier) and
others, published at that time, ella
borate collection Of current accounts
from which they arrived at the con-
clusion that the annual product of
gold would soon reach the sum of
seventy or hundred millions of
pounds sterling, or $35O,OOO, 900 or
s4oO,Ooo,0oO. On the basis Of such
expectations the governments Of Eu-
rope, were invoked to. by these men
and others, to prevent the antieipat-
ed depreciation in the value of mon
ey, or, in other words, the anticipa-
ted rise in general prices, by the
demonetizatiod, not of silver, but Of
gold. They said; "Fall Of gold,
1867, ''The quantity of gold annu-
ally thlown on the market approach
es in round numbers, two milliard Of
francs (s4oo, 0,ooO). These two
countries, Australia and California,
must for long series of years pro-
duce gold in such quantities and on
such conditions as to render SER
ious market decline in its value in
evitable. "It is absolutely certain
that so vast production should be
accompanied with a great reduction
in value relatively to labor and pro-
perty.)" In no direction can new
outlet be seen sufficiently large to-
absorb the extraordinary production
jof gold which we are now witness
ing, as to prevent a fall in its value.
"Unless then, we possess very
robust faith in the stability of hu-
man affairs, we must regard the fall
in the value Of gold, as an event, for
which we should prepare without
loss of time" Under these appeals
Iof De Quincy and others, several
nations in Europe, Germany, Aus
tria, BELGIUM, Italy and Switzerland,
1867 demonetized gold. 1t is pro-
bable the movement in that direc
ton would have become general and
universal in Europe but for the re-
sistance Of France. After ten years
this was found not to redress the
situation, and gold was restored to
its former place, and a movement
iuaucerated for the decentralization
of silver, which was accomplished
by the above named powers, in 1865.
in which the Latin Union; $50 term
ed) was formed, Belgium, Italy, and
Switzerland, insisted strenously up
on the adoption of the gold stand
ard, but were overuled by France.
1t is evident that the object aimed
at by both of these maneauvers, was
to accomplished the disuse of one of
the most dangerous money metals,
in order to protect the creditor
class and those having fixed inco-
mas against fall in the value of
money and a rise in general prices.
This is the pith and marrow Of all
the monetary discussions for the last
twenty-five years. In all the Euro
pean discussions after 1e48, and
prior to the German demonstration
of silver and its consequences, the
point made all the way long was not
that either Of the metals had depre-
ciated relatively to the other, but
that bv reason of extraordinary sup
plies of gold from Australia and
California, supplemented about 1865
by new supplies of silver from Neva-
da $6oo,oo0,ooo in sight unmined,
both metals had deprecated, rela-
lively to labor and commodities and
that those having fixed incomes next
being injured by a corresponding
rise in prices, of what money had to
buv.
So long as double money existed
a new and LARGE supply of either
was only an addition to, and only
affected the value of the general
mass of money and not the relative
roszme Of the metals. The ''fall in
gold'' which the metal money mag
mates of Europe Iamcnted in 1857,
was its full IN relation to prooertv
They pointed out how the double
standard had prevented any change
from occurring in its relations to sill
yer, and how it would continue to
do so until the silver. of double
standard countries was expanded.
In order therefore to protect the in
come classes, it was claimed to be
necessary to demonetize one of the
metals, and gold then being the met
al promising the most abundant
Weld, was selected for the purpose.
It was the depreciation in the value
of the precious metals and money
relatively to property and labor,)
supposed to have already resulted,
from the new supplies of gold,
which made Chevalier the conspici-
Gus advocate of the demand that one
Of the metals should be demonetized
in order to redress the greviences.
In the conference of 1865 which re-
suited In the foundation of what is
there know as the Latin Union, Bel
gium' Italy and Switzerland, in IN
sisting upon the demonstration of
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