The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-03-13
The VOLUME OF MONEY.
To the Editor Of the Eagle.

To the Editor Of the Eagle.
/ must frankly admit that my mental
perception is too obtuse TO perceive
much relevancy in what Mr.. Caldwell
writes, under the caption ''Asto Money,
to any thing / have heretofore written on
the money question-and l have written
but very little, and that little in such
mild and dulcet tones that must resent
the imputation of being a ''cIamorer.
Now. such a disregard for the equities
of fair discussion is unworthy of man
of Mr. ca character. All attempts TO
prejudice the minds of the readers by
the use of extravagant and uncompiI-
mentary terms or inuendos, although
now somewhat the fashion, only evil
dences weakness of position, and can
only move those ignorant or impulsive.
No one. confident of the strength OF his
position, need seek to advantage him
self by resort to such unworthy methods.
Unprecedented minds are best influenced
bv facts and reason. | believe in an
open field and free and fair discussion,
and under, such prevalent conditions
would not be apprehensive about the
ultimate results There. ''the right and
the might with the truth would be.
But to the point at issue. Does the
volume of money affect the equities of
exchange or occasion inequitable incl
dents: Assuredly it does, invariably
and inevitably, under our advanced
civilization with its commercial methods
wherein money is the medium OF eX-
change and prices are expressed IN terms
of money. Otherwise, 1t would be a
matter of no consequence whether the
circulating medium was limited to one
dollar or expanded TO billion. The
volume of money circulated determines
the facility of exchanges OF commodities,
and the disposition of mind TO exchange
freely. as well as the employment OF
labor in their production; and one OF the
most baleful effects of a marked con-
traction of the volume of money IN
circulation is its effect on the mind, de-
stroving confidence, and begetting fear,
distrust and ominous discomfort. by a
contraction of money from 81 100, 600 600
in A. ID. Ia. to Sl6S. 900, 600 In the year
SOC, the lamp of civilization was ex-
tinguished and the night OF the Dark
Ages was ushered in, with Its untold
evils and misery.
Ineauitable incidents of exchange will
occur with distressing frequency under
an inadequate volume of money. This
is palpabIe and obvious. When money
is scarce horses will not buy sheep
or sheep horses TO any encourag-
ing extent-nor will there be so
many horses or sheep, or such
an abundance OF commodities
as is conducive TO the comfortable and
prosperous existence of the masses-and
labor goes begging.
In this connection the report of the
congressional monetary commission is
interesting reading. Under the panics,
incident to contraction, true value is lg-
nored or forgotten, and sacrifice and
waste of property follows.
The money problem is now the most
important question before the American
people: yes, before the world. 1t merits
the careful and candid attention of every
individual, and it is not a question too
abstruse and abstract for ordinary minds
to grasp its most practical principles and
bearings. 1t is live issue before our
people 1t must be fought to finish.
1t is so vital question that it cannot be
smothered Political parties and pri-
vate gains will count for naught when
weighed in the balance against the pros
perity of the people. Unsettled ques
tons have no pity for the repose of man
kind" No greater public wrong was
ever perpetrated than the decentralization
of silver, anAact, cowardly in its secrecy,
and infamous in lis purposes.
GEO. STARK MILLER,