The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1881-11-17

theology opposes It, There does not
exist in the world gold enough for that
purpose. The true money metal is
silver. Locke was right in saying !:
Silver is the instrument and measure
OF commerce in the civilized and trading
parts Of the WORLD" and Bagehot ex-
pressed the same opinion before tie
Silver Commission OF 1876 (question
1880: "Silver is the normal currency
Of the world In proportion rs the
people become wealthy and industrious
tliey require more and more gold, SO
that the diminishing production Of gold
will be barely sufficient for the use Of
the arts and manufactures. and the
yellow metal will disapper littl by little
from circulation. At all times gold has
been . subsidiary money! money
Of luxury. Il was conse-
quence Of natural laws. Economical
necessities will oblige men to submit 10
them. That which has passed since the
date Of the publication Of DIR. Suess'
book (l677) has plainly confirmed his
predictions. Already the scarcity OF
gold has creat.d an appearance Of dis
quietude. One cannot be surprised al
1t, when one thinks Of the small quaint.
" Of gold which is at mans disposal.
The total quantity Of this metal pro-
duced since the discovery OF America il
calculated to be 81. 4OO, O0O, 900. A
learned professor Of the University Of
Rome, Messedaglia {" Stpria .SYatisti.
Ca del !Metali P'esiosi') has calculated
that this sum. equivalent 70 535 cubic
meters, would he sufficient only to cover
the pavement under the cupola Of the
Pantheon or Of st. Panl's with he'd Of
gold OF thirty-seven centimetres, or one
foot IN depth, and the annual produc-
ton would add to it barely one cent?
metre. OF this quantity, what remains
under the form Of moley and orna-
ments? Perhaps one mllliard sterling.
N. Soetbeer shows that there exists as
money in civilized countries (less Indin
and the extreme easn IL, 400. OOO.-
600 German marks (E67O, OOO. OOO)
OF gold. aud Z. 40O, 0OO, 900 marks (fl2O.-
000, 0OO Of silver. That which singu.
larly aggravavates the economical situa.
ton is that the worlds currency, which
Was maintained yearly, till 1874. by
gold and silver nnited-that is TO saw.
by total value Of So, OOO. 600 is
now to be kept mp by gold alone. Of
which the production does not attain
more than E2O,OOO,0OO each year.
Trade consumes certainly from gl2..
OOO, 600 to eli, GOO, 600; for official re-
ports show that manufactures and arts
require, in the United States, $40, OOO.-
600 or e, O0O, 600, the same amount in
France Ga, OO0. 900 I. in 1879 and even
more in England-that is E5, OOO, COO or
81. 600, O0Ofor these three countries alone.
India takes away every year between
60, DOC, 600 and ca, 900, 600, so what re-
mains for the requirement OF the coinage
in al the civilized nations? We must
not forget that, according to nj. Sect
beers calculations. there has been coined
in the last twenty-five years, from 1851
to 1875, Es00, 0O0, 900 gold and 4440,-
OOO. 900 silver. Deduct what you will for
rec0inage, there remains certainly. TAX. n
by the mint. sum immensely superior
to the IA. 100000 or $4,000, 600 gold
that the arts leave the monetary
requirements. Even suppoeing that
the absorption Of gold by America will