The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1890-02-28

MIN<Wh&<t iA@i8 @4@*1~~ ~ "ftt - - -
eU.u0dO year. ami tbc capacity u the vast
populstion Of India 20 ars1rb silver - not Ike
IL TO b. sbated. The consumption m the arts
woulu scarcely be lessened- The needs 'or SUD
sldiary coinage viii not diminish
Some less might 70 70 Asia although ~
difncult 70 - how the restoration % the intio
o. 10 20 I q sold will materially eject rne
trade OF Asia
Possibly some less would stay IN Mexico,'
and some less be coined ~ other American
states hut suppose the coinage here should
~ doubled and esa 0ooO should come here. Or
even os3OoOm DO Ne not need its Do We not
need II 20 keep up the volume Of money and
maintain pricesy How else Is money supply
70 come, Lower pr1ccs will Of course, bring
roid 70 Us. The eternal scramble for gcid'
can go on
II II : miscalcuiation- however. 20 suppose
The restoration OF silver would lead 70 = rise Of
prices Of = per cent. o. - per cent, or even
fall Of gold relatively 70 commodities OF ~ pes
cent Prices will be determined primarily y
the money volume. more or less modified, Of
course. BY the operations Of credit. II free coin
age results only In keeping up the volume q
money 60 ifs present relation 70 population ana
business then the effect will be only 10 arrest
the fail Of prices and maintain the present
level. Some products. a. wheat and cotton, TOT
reasons above given. will doubtless respond I'M
meciatcly BY an advance in the markets Of the
world The danger. therefore, 20 come from
free coinage. like that from continued coinage
Is more imaginary than real
SCARCITY or GOLD.
But we ask again without she use OF silver
where Is money supply 70 come frofns There IS
a consensus OF opinion among those best able 70
Judge that the production Of gold y destined 70
diminish as time goes on. IL = doubtful
whether there Is left from the annual procuc'
ton any gold At all for money. Soctbeer esti-
mates that probably sI5.oJ0OQo are left Tor
money after the demand for the arts and den
tistry Is supplied. Fifteen millions for the
worlds money, Is this the feast 70 which the
Industrial world Is invited by gold nonometai-
lists, Whence, then, we repeat. Is money sup
ply to comet l. II 70 be crcdu money
Uncertain bank Issuess The world has hap.
ply passed the era OF that source OF supply and
that kind OF money. and Will never go back 10 H.
The true answer Is. restore silver 70 lis Ole
place as money metal by the side q goia'
without limit as 10 use. and the sooner II Is
done the better for this country and the world
II is not necessary. Of course, that all the sill
yer offered should be actually and - once
coined The same end will be reached II GER
tincates are issued on silver bullion, the same
as now on gold bullion
BrxErALiIsN on GOLD NoSoNEIArLIsN-
II must be apparent 10 statesmen as well a.
20 economists that the present attitude OF inc
country toward silver coinage can not long DC
maintained The forced coinage OF t2,mOW
| month Is an arbitrary and unscientihc mode q
| regulating money. Either we must accept bi
| metallism, with natural regulation through the
mines. or adopt gold monometailism and rest
| values on the present stock Of gold and the pos
! sfble excess Of gold production over require
| ments for the arts and making good the loss by
| abrasion and otherwise This Is the situation
! and this the problem before a..
| VIII we heed the warnings Of history and es
| cape the disasters that have invariably attend
4 ed a shrinking volume Of money! Allison Is nc
/ doubt right in attributing the fall Of the Roman
/ empire and the stagnation OF the middle ages
more to the want Of supply Of money than =
any other cause.
With the discovery OF America and the opek
| ing OF the mines Of Potosi began q new era
! The money OF Europe and America increased
skiold in century. Commerce revived, and
| on silver wings spread over the world In the
early part OF the present century the revolution
| in south America cut Oh the supply OF silver
/ and depression Of trade Immediately followed
! Jacobs in his history OF the precious metal
shows that the stock Of money OF Europe and
the United States. from 1909 10 lscO. fell iron
q .9O0Oooo 10 si-565.ooooo or loss Of SSas.
OOOOO, in less than quarter Of . century. The
shrinkage continued 10 the end Of the first hall
Of the century. Prices, according 70 Newmarct
and Jevons, fell 80 per cent As many well re
member, this was period Of chronic -hart
times" relieved only By the spasmodic imitation
through wild cat" bank notes. which len
train Of wrecked industries behind them.
But 1T the close OF the first half OF the cent
ury the vail began 70 lift With the beginning
Of the last half OF the century dawned the new
.goiden era" California and then Australia
began to pour their treasures into the lap o.
the world rcyiving commerce and quickenine
industries everywhere But In 1873. as II The
hand of man was turned against himself. hall
the worlds supply Of money was Topped on.
A writer In n British review not long after