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

1 suppose the United States had coined $500
600 instead OF $2 Co., is It not clear that less
| would have been left for other countries and
| that the price would have risen under the in
creased demand, Is II not clear enough tina,
the purchase Of 100000 month could no,
| long go on. production remaining as bw, with.
/ out carrying silver to par with gold?
The st. Louis convention has asked that this
experiment, which the present law authorizes,
! be tried An addition Of e64, 00O,0J0 to our mon
| ey volume this year will not be enough to fill
the void caused by the cancellation Of bank
| notes and supply the needs Of an increasing
population, and nothing short of this will stay
| the downward tendency Of prices.
THE FREE COINAGE OF SILVER.
The average advocate of gold recommendation
shrinks In terror at the suggestion OF restoring
| free coinage TO silver and cries "cheap money!
| ''eighty-cent dollars" and declares that he
knows it will Immediately expel gold and bring
on dire calamities
This is what Mr.. Cleveland predicted in 1884
would take place II the coinage Of s2,0O00O q
| month was not stopped, and is what others
they say. although the coinage OF q, 100000 has
| not yet expelled gold it wiu 'rpsl it. notwith-
standing the fact that since the act Of 1873 was
passed requiring the coinage Of 100000 a
month, this country has gained $500 O0O,0 900 of
gold.
nredictions Wby has mn, oo,d bean exneIIsd,
SimnIv bacanse the COINAGE of \, ooo nO a
month was not sucb an addition IN our monev
volume as 70 raise nrices above the Gold or IN.
transitional level OF prices.
Why has our stock OF gold increased, Simply
because the coinage Of 100000 a month was
not sufficient addition to our money volume
to rake the place Of bank notes retired and sup
nlv the needs Of an Increasing nonulation and
consequently gold came here To nreserve the
eoui,hriurn of nrices TT there "a anv ono nr;n
sinle In economic science accented nv al, econ.
omists II il this All nredictions.tbat the
coinar. Of 50 o0O nm a month vouI,TSpyneI our
op,d hxve beep made In Ignorance o26isregard
Of the nlainest nrincinIes Of econoy.S scienc.
Mr. cleveland in bis celebrated letter went
further and nredicted that at one and the same
time p.,,d would 90 out of the country the vol
ume Gf money wouId no rednced to the silver
and pSner that n vouId then denreciate 20
the level of silver bullion and stranuest Of ali
ne r,on.y derrac;,,ad ,,ricos would ,o,I n;
cour.e these nredictions have ALI faiIsd 40 ali
predictions based ON such calcuIations must
Iyh.,. ;,, ,,,,, oo;u,,,, -, IT,. -, ., att,
,,, "a, NJ nv I'll .,S "a a ~ ui'e
-. n 80. ~ 49,, VIZ ~ 80, 10 -.
,,r.d f-'O0 - > ~
c.. NJ ,.., A.. , =. ..,
on,Io,,o, ava ,uan,t, -, ,a ,;,.oi. e..
uasont ro,a,io, =, ,,o,o,. -. .. .anin,,~
ro,rd nov ha los 49, a.. 600 non ~ ,.por
Thi,d ~, s,,r,,i,, ,hn voo,,;un. ..
.roaaa, g., ,,,,,,u;p -. - ~ - -,
low STABILITY Of prices =
The Cancellation of hank notes IN 1890
amounted tn Si1 o0O nO and will nrobab,v not no
mucb less This wear This added 10 the A.,
On ooo needed for increase of nonrIation and
We have 800 ooO ooo nc the ,nontity oct,oII,
needed 70 on y;nto;a .Iob;Jy,, ~ ,non., roy,,ns
and nothing else will arrest the fall Of nrices
Even should some nat Of the h,nL notes snr,
r,ndor.a ho ,,r,,n ~, nv ,,,r h,n,, h,rar Lee
than s75unuD will be required TO keen nm the
money volume. Until this void so to speak.
mad. py the cancellation of bank notes and in.
cressing population. is filled there can he no
emulsion of gold
crorba,,s I,y 10 a ,aw ~ djsn,,,.r,ant ora