Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-08-05

is paper; only per cent Of money in
France is paper as has been said be.
fore France has twice the silver and
twice the gold that we have, while she
has but onc.fith the paper currency
DESPITE this calamitous condition we do
not hear that she Is ON the verge OF
general ruin. France has national In.
debtedness of about five times that Of
the United States for population Of
about one half that Of the United States.
The national indebtedness Of the United
States Is ga o. per capita; while that Of
France is $40 per capita. Despite this,
France Is today In the better financial
condition. The United States is young,
with the agricultural wealth OF ages IN
her loins, and In her mountains lie
boundless mineral resources This can.
not be said of France. Our country
had war, II is true; yet France since
that time has lost large territory and
paid $1,000. 600, 600 indemnity to Ger.
many. and still has more than q In
circulation for every one that Germany
has, France has the largest per capita of
circulating medium In the world.
When il comes to the per capita Of
paper in circulation the United States Is
In the society Of such highly commercial
nations as Greece, Spain, Belgium.
Switzerland, Austr.a.llungarY Neither
lands, South America, Canada, Cuba,
and Hayii-China has neither paper NOT
gold. She has si7s per capita Of silver
In circulation, the per capita paper circu-
lation Of Great Britain is about onc.hlth
that Of the United States, Of Germany
about ye, both nations have nearly
the same specie circulation.
say nothing about the TACT that there
has been a reduction In necessary com.
modiucs corresponding with the pur.
chasing power OF silver. Undoubtedly
the degradation OF silver IS partially
responsible for this condition as would
have been the case had gold been
demonetized. II Is, however equally
undeniable that labor saving machinery
has aided to produce wheat and cotton
at less cost than In former years, just as
labor saving machinery has aided TO
reduce the cost OF producing both gold
and silver. Nor can ] sec that TO de-
stroy one half the circulating medium Of
the United States is equal 10 destroying
one half the national wealth cannot
believe that statement true were the
money OF the whole world destroyed
instead Of the fraction Of Il represented
| By the silver coinage Of the United
States, which Is little less than one.
seventh Of the whole. The wealth OF
the world Is It's surplus production IN all
/ pursuits that the civilization Of the race
/ has made necessary to the convenience
and existence OF man. Gold and silver
Of themselves are only inifnsically
valuable as they are necessary TO satisfy
/ the desires Of the race. For centuries,
/ however, these metals have been inves.
/ ted bymankind with an additional value.
/ They have been establishments measure
to accommodate the demanded the race
/ for an easier exchange OF products. II
all the gold and silver OF the world
were destroyed there would be no
fewer buildings. the productive capacity
| OF the soil would not necessarily be
diminished. steamboats,, railroads,
cattle, and so on would remain-every
particle Of the surplus production Of
the human fmily-the accumulation oil