The midland journal. (Rising Sun, Md.) 1885-1947, 1894-03-30
The Power of Money.

This is one of the most important ques-
lions which influence civil society, and
one that has received the least attention
of all the economic questions. 1t is but
few years since this question of money
and its influence on society has attracted
the attention and invited investigation by
the ,nasses-or that rather small portion
of them-wko cln be induced to think.
The following supposable case will
serve to illustrate the point we wish to
make: If wheat is $I.oo a bushel, three
dollars buys three bushels. If the price
falls one-third, or to o625 cents bushel,
three dollars will purchase four and a
half bushels. The money has increased
by this change fifty per cent i'll its pur-
chasing power, although the price of
products has fallen only one-third. If
the price of wheat falls to fifty cents a
bushel-and it is not far above that at
present-three dollars will pay for six
bushels, and money has risen i'll pur-
chasing power one hundred per cent,
although the price of wheat-and every
thing in like ratio-has fallen but fifty
per cent, or from one dollar a bushel to
fifty cents. We will now suppose it has
fallen to twenty. five cents bushel, which
would be a decline of seventy-fve per
cent. The money has, however, risen III
purchasing power four hundred per cent
The same three dollars which bought
three bushels will now buy twelve bushels
of wheat. These geometrical progres-
sional strides are something startling to
contemplate, in the fall of prices and the
rise i'll the purchasing power of money
And as we have demonstrated with
wheat so it is i'll the whole range of COM
modify prices and labor. The widening
of the gulf between poverty and riches is
astounding in its rapidity. In this battle
between Money and Price is arranged ON
one side, debt, interest, annuities, salaries,
fees and taxes. On the other, labor and
all the products of labor. Every laborer,
every producer of commercial articles, or
the goods which constitute commerce,
is intensely interested i'll the study of this
remarkable problem. The fall i'll price
is the most fatal blow that can be dealt
the great mass of mankind who have to
depend OH the sweat of their brow for
their future welfare, whether it be future
of good or evil. The first class never tire
of holding up to the second the great
advantage they reap from low prices.
They tell them dollar will buy so much
more of the necessities of life than it used
to, and therefore they are benefited. This
is aidelusion. He is buying the things
his fellow toiler has produced at infinite
toll and expenditure of time. He is merely
trading effort with one of his own class,
and neither is the gamer, while the debt
holder, the interest drawer, the salaried
officer, the annuitant, the receiver of fees,
the tax collector are all collecting a
double tribute from every producer of
wealth. Their riches are accommodating
by geometrical progress, while the
life are being taken to make the goods or
wealth the non-producer's dollars buy
The DAYS and the hours are the laborer's
wealth which he is converting into prop
erty that the non-producer buys with his
salary, his interest, his fees, bis accum-
ulated capital. And this is the reeson
that class are battling so for a scarce
money system, which is the single gold
system. A scarcity of money makes low
prices.
There are many of these benefciaries
of labor who cannot explain why they
favor the gold money system, but their
instinct teaches them that low price is
their gain. Taxes, debt. interest, fees,
seldom change, but remain almost sta
tionary. while the shrinkage of the vol
ume of money always lowers prices,
throws labor out Of employment and
brings such train of evils as the people
are now suffering,