The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1890-02-28

ance.
Now. with free coinage in the United States,
what change would take place in the distribu-
ton Of the production Of 1890! In the first place
the sole money Of the vast majority of mankind.
All silver not used in the arts is now coined
somewhere. India absorbs an average Of about
sab 100000 year, and the capacity Of the vast
population Of India to absorb silver is not,like-
ly to be abated. The consumption In the arts
would scarcely be lessened. The needs for sub
sidiary coinage will not diminish.
Some less might go to Asia although It is
dif,cult to see how the restoration Of the ratio
Of is to Of gold will materially effect the
trade OF Asia.
Possibly some less would stay in Mexico,
and some less be coined by other American
States. But suppose the coinage here should
be doubled and Sos 900 should come here, or
even CT, 100000. Do we not need It! Do we not
need 1t to keep up the volume Of money and
maintain prices! How else is money supply
to GOMEZ Lower prices will, of course, bring
gold to US. The eternal scramble for gold'
can go on.
1t is miscalculation, however, to suppose
the restoration Of silver would lead to q rise Of
prices OF y per cent. or 80 per cent, or even a
fall Of gold relatively to commodities Of 20 per
cent. Prices will be determined primarily by
the money volume, more or less modified, Of
course, by the operations Of crecit. II free COIN
age results only in keeping up the volume of
money to its present relation TO population and
business then the effect will be only to arrest
the fall Of prices and maintain the present
level. Some products, as wheat and cotton, for
reasons above given will doubtless respond i'm
mediately by an advance in the markets Of the
world The danger, therefore, to come from
free coinage, like that from continued coinage,
is more imaginary than real.
SCARCITY OF GOLD.
But We ask again, without the use Of silver.
where is money supply to come from: There is
q consensus Of opinion among those best able to
Judge that the production of gold is destined to
diminish as time goes on. 1t is doubtful
whether there is left from the annual produc-
tion any gold at all for money. Soetbeer esti-
mates that probably sI5,OoO.OOO are left for
money after the demand for the arts and dem
tistry is supplied. Fifteen millions for the
worlds money! Is this the feast to which the
Industrial world is invited by gold monometal-
lists: Whence, then, we repeat, is money sup
ply to come. Is it to be credit money.
Uncertain bank issues: The world has hap
PLY passed the era Of that source of supply and
that kind Of money. and will never go back to it.
The true answer is, restore silver to its old
place as a money metal by the side OF gold,
without limit as to use, and the sooner IL is
done the better for this country and the world
1t Is not necessary, Of course, that all the sill
yer offered should be actually and at once
coined. The same end will be reached II GER
tificates are issued on silver bullion, the same
as now on gold bullion.
BIMETALLIsN OR GOLD MoNoMErAIIIsN.
1t must be apparent to statesmen as well as
to economists that the present attitude of the
country toward silver coinage can not long be
maintained The forced coinage Of 100000
month is an arbitrary and unscientinc mode of
regulating money. Either ne must accept BIZ
metallism, with natural regulation through the
mines or adopt gold monometallism and rest
values on the present stock Of gold and the Dos
sible excess Of gold product ton over require
ments for the arts and making good the loss BIZ
abrasion and otherwise This Is the situation
and this the problem before us.
Win We heed the warnings Of history and es-
cape the disasters that have Invariably attend
ed shrinking volume Of money! Allison n No