, 1890-04-03
SIL YER AND 00LD.


fgold were sufficiently plentiful
to supply the demand OF trade and
to become medium OF exchange
for ali values, 1t would not be tho
object of contention In the money
markets. Its scarcity and unnatu-
raj purchasing power are the dis
turbing features In trade. To over
come this imaginary value and
purchasing power, silver has been
added to enlarge the circulating
medium 10 meet the necessi ties of
trade. The government stamp
gives ID an equal circulating value
and credit In the markets.
The position of the Advocates Of n
gold standard may be Illustrated:
A man who contracts II debt to-day,
payable In one year, receives 500 OF
the circulating medium worth 100
cents each, which has a pure hasing
power in exchange for twenty
barrels of -four. In the meantime
a gold basis Is established and when
the day OF payment arrives the
lender unjustly demands pa yment
In gold, which Mt that date happens
to have purchasing power OF thirty
barrels of flour.
In justice, the money lender
should be compelled to take his nay
for Interest In current exchange,
either gold or silver having equal
purchasing power, which is n hun
drod cents, the value Of each dollar
loaned. This is the only honest
system of finance, which measures
equal justice alike TO the borrower
and lender.
The fact that the bondholders are
gradually withdrawing gold from
the treasury as fast as the national
deb. Is being paid, should not give
that metal AN appreciated value In
tho hands Of the owner. The stat
ute which enforced resumption of
specie payment, which was merely
an equalization of the purchasing
power of ali money bearing the
government stamp, fixed the stand
ards Of value ana prevented the
brokers from taking into account In
exchange the imaginary difference
In value OF the various forms of the
national dollar.
The wealth OF the individuals Of u
nation Is measured by the money
placed i'm circulation by the govern
ment. In order 10 secure established
values, the government must in
crease its money or circulating
medium In proportion 10 the in
crease OF the products of the nation.
1.-THE products Of this year are
greater than those of last year, our
money should be increased pro-
portionatcly. If there is gold
enough TO make this increase there
Is no objection TO its use, but If not,
silver should he substituted To take
it's place. The money in circulation
absorbs the value OF all that Is mer-
chantable. II the annual supply Is
plentiful prices are said to be low
and money is high, and people talk
about overproductlon. II Ii H.
scarce, prices are high and money Is
low; that is, II taxes moro oft than
during the former year 10 exchange
for a merchantable necessary which
is said to be scaice.
When money is moro plentiful
than the merchantable object,
whether that be labor or goods,
times are said 10 be easy because
money Is plentiful.
England has used the pound ster-
ling for thrcc-quarters Of a century
as q standard of value, but In spite
OF the fact that large part Of her
population aave emigrated TO other
countris.. and that she has been all
thess years the chief manufacturing
center OF tho world, which has been
n constant gold-bearing source, her
money has gradually become scarce;
the rich and their descendants hsve
become richer, and the poor poorer,
because Of the gradual Increased
purchasing value of gold.
The advocates OF u gold basis
would bring about the snIne state Of
depression in this country on n