The Bottineau pioneer. (Bottineau, N.D.) 1885-1895, 1893-07-08

+ John Stuart Mill, page 3Ol of his
Political Economy says; "That an
increase Of the quantity of money
raises prices, and diminution lowers
them is the most elementary proposit-
ion in the theory Of currency, and
without it we should have no key to
any other"
Again he says; eff the whole
money in circulation was doubled,
prices would double. If it was only
increased one fourth prices would
rise one fourth. The very same
effect would be produced on prices if
we suppose the goods, (the uses for
money! diminished instead of the
money increased and the contrary
efect>if the goods were increased or
the money diminished. So that the
value of money all other things re-
naming the same varies inverseiy as
its quantity, every increasing quanti-
ty lowering it's value, and every d;mi-
nntion raising it in ratio exactly in
equivalent. Coinage is the basis of
the worlds moneyaand fixes the cir
culation of Europe which is our market
and thereby fixes our prices and the
value of our property, and this matter
of price and value is vital to us as a
debtor and producing country. The
following is from Ricardo. "That
. commodities would rise and fall in
price in proportion to the increase or
diminution of money assume as a
fact incontrovertable. That such
would be the case the most celebrated
writer's on Political Economy are
agreed** The value of money does
not wholly depend upon it's absolute
quantity, but on its quantity relative
to the payments it has to accomplish,
and the same effect would follow
either of two cases, from increasing
the uses of the. money one tenth, or
from diminishing. it's quantity one
tenth, for in either case its value
would raise one TENTH Francis A.
Walker, professor Of Political Economy
and history in Yale College says;
1.-The public indebtedness Of the civil
Eized world today probably stands be-
tween twenty-five and thirty thousand
millions Of dollars of American money.
The volume of private debts, includ-
ing the capitalized value of fixed
charges, loans, annuities, &C., is vast
ly greater Nearly the whole of this
vast body of obligations is payable
principal and interest in money. The
question whether the supply of money
shall increase or decrease is then the
question whether the burden of these
more or less permanent charges shall
be diminished or enhanced. It is the
fact Of large body Of indetedness,
{some hundreds Of thousands of
millions) which gives its chief i'm
portance to the current productions of
the precious metals. - Copernicus,
the great Astronomer in the 10th,
century wrote political treatise to
the king of Poland in which he said;
"Numberless as are the evils by which
kingdoms. principalities and republics are
wont to decline. these four are, in my
judgment, the most baleful: civil strife,
pestilence, sterility of the soil and corrup-
ton of the coin. The first three are SO
manifest that no one fails to apprehend
them; but the fourth which concerns mon
ey is considered by few, and those the
/ most reflective, since ii is not by blow,
but little by little and through secret and
obscure approach that it destroys the
state >& 4, =z*
Those citations can be multiplied in
definitely. As stated by one of the above
writers all writer's in all ages concur in the
Il s@3 Isss ssa3f FsEsg, 55 Er-
principles we have announced. This be-
ing established Mr.. Cleveland and the
financial men Of the world, if we give them
full sway. can by legislation appreciate
the poor mans dollar TO such an extent
| that he will have 10 work as in the time
| lof our Saviour for 4 penny 4 day But
will this benefit him Of does il benefit the
Irich solely The poor man earns his
dollars BY day labor and pays them out
at night for his existence. N The rich man
has hissdoliars that he can loan out and
Idraw in his interest and eventually his
principal and have both grow 10 value
before they come II, by snfOrcing con-
Traction. and the key to contraction Is
tcoinage. BY excluding from coinage one of /
the Two Two metals of wiich both now form i
part. and that one the larger part of the
two. The time has been reached and the
;cs,,ss IL ~ swhaff,er ,ne w shnt t,f M.