The advocate and Topeka tribune., 1893-05-31

read the last part Of the first column and
most Of the second, they will sec what q
false statement my critic has made My
argument there, on this point, closes as
follows:
"It will now, perhaps, be admitted that
prices, or monetary values, will rise ss
money increases, unless commodities which
are offered for sale also increase. When
money is doubled in volume prices will
double, unless, ss prices begin TO rise the
offerings in market begin to increase. And
this is usually the case. Il is very seldom
that all salable commodities are on the
market at once, or that any large proportion
of them are, under usual conditions. So
when a rise Of price occurs, the offerings
commence to increase, checking the rise.
Hence a doubling Of the money may result
in an increase of price, not exceeding 10 or
20 per cent. But it would greatly promote
the activity of trade, frequently causing the
same commodities to change hands several
times"
/ have all along stated and argued
that prices, or monetary values, are gov
erned by the comparative supply Of
n oney, and Of commodities offered for
sale, my critic to the contrary notwith-
standing.
Mr.. Snediker further quotes and re-
marks:
"'Would issuing more money and lower
ing the rate of interest in Ireland benefit
the IrishmanP' Mr.. Davis answers: If
the monetary obligations Of Irishmen for
rents, tithes and taxes remained fixed, then
the increase of money and rising prices
would benefit the IEishman. But if rents
and taxes increased exactly as prices in
creased, his condition would remain the
same Mr.. Davis knows as we'll as he
knows anything that rents would 60 up il
anything did, and IL the English govern
ment abolished the collection Of all taxes
from Ireland, it would simply enable the
landlord to collect more rent, while the
Irish tenant, the man producing the wealth
would get the same miserable poor living
Suppose the holdings Of estates in Ire
land are arranged for term Of years at 6
fixed rent, as is often the case, then the
rents cannot be raised before the time
expires; and even the tithes and Other
taxes cannot be raised without a fighI
with the taxpayers. Hence it is plsir
that increasing money and rising prices
would benefit the Irish tenants.
! Mr.. Snediker further quotes and re
' marks:
/ "Mr. Davis illustrates with: "A mechanic
} owes $1,000 on his home. Without employ
' ment he can never pay his debt, however
, cheaply he may ivs.' Why not say: "A me
I. ohsnio owns a home, and unless he work
r he will starve.' Why not tell US what Causet
, the mechanic to be in debt 1000 on hi
! homer What is he in debt forH This me
( chaniO is only one in q division of th'
5 wealth producers; one Of the classes tina
Q builds homes, and Mr.. Davis says he.is IL
( debt, and if he does not get employment h
= can never pay his debt. But TO whom is hI
a indebtedG Let the debtors, the men wht
Q have mortgages on their homes, stand IL
r line and answer the oll-oall, What are yoI
: in debt forP and three-fourths Of them vii
t answer, For a piece Of land on which Il
build home and earn living And Mr.
Q Davis holds that If we had more money il
9 circulation in this country, prices would g
e up, and that would enable this meOhani
q the more easily TO pay his rent (rent o
> debt p Of $1,000. But if prices 60 up, vii
not land values go up, toOp And how Rbou
vnnr child and nina that nAXk vARr. o