Mohave County miner., 1894-08-18
Money.

tuat uo osub'o s6o"y u~o SoosttVukC0 "
much to the prosperity and happiness Of
our race, a. the enlargement M the
worlds money stock by the inf1w Of the
precious metals from its mines The
gradual exhaustion Of the ancient mines
Was accompanied by corresponding
decline industrial and Commercial ac,iv.
iiy. c,used by steady AMI CO, tinu ,us
fall in value or prices Of the products Of
industry. During this period the vol
ume Of the worlds money stock, reck.
oned in our currency, fell from 81 .sO0,.
100000 TO less than $200 900 600, and
We are informed by DR.. Adam Smith
,hs, in the year 1855 the price Of wheat
in England WAS less than two pence per
bushel. To this agency more than to
any other 10 attributed oy the historian
Alison, the settling down upon Europe
during the middle ages OF the mantle OF
darkness which separates the civilixa.
ton OF the ancient from that OF the mod.
ern world.
Osing to an increase It's money
stock from the treasury Of the new world,
western Europe swoke from it's profound
le,hsrgy, and entered upon career OF
industrial prosperity and industrial activ-
ity it never knew before. Jevons saws,
page 325, "money and Mecsnism Of
Exchange" that from 1909 to ls49 gold
rose In it's relation to commodities Sin
the ex rso'dinary ratio OF 100 to 245, or
by l45 per cent, rendering government,
snnui,ies and al liked payment extend
ing over this period, about two and one
half times as valuable as they were in
1902"
OF this period Alison in his history
2 says: ''If the circulation OF the world
had rem ,ined stationary or declining.
a. itws from 1915 to ls46, f,on the
effects OF S,u'h American revolutions
and English legislation. the necessary
result must have been that IL would
have become sltose,her inadequate to
the wants OF man, and not only would
industry have been everywhere cramp.d
but the prics Of produce would have
universally and constantly fallen
Money would have every day become
more valuable, other articles me ,sursd
IN money less so.and debt and taxes
would have been constantly increasing
in weight aud oppression The fare
that crushed Rome in ancient and al
but crushed Great Britain in modern
times, would have been that OF the
whole family o: IN inkind. All these
evils have been entirely obviated, anC
the opposite set OF blessings introduce,
by the opening OF the great reserve
treasures Of California and Australia.
Mr.. Hunter, chairman Of the fnanc'
COMMITTEES of the senate, in presentin,
to that body IN 1852, a measure 10
changing the ratio in respect to on
minor silver coins, by reducing tn
weight of pure silver in thsm about
per cent, IN order that they might b
kept here, and not melted down an'
sent abroad, said IN his report: Of al
the great effects produced upon humal
society by the discovery Of Amerca
there were probably none so marked
a. those brough, sbout by the great IN
fnx OF the precious metals OF new worl'
to the old European industry ba
been declining under the decreasin
stock Of the precious metals, and a
sppreciAting standard of value. Huma
industry has grown dull under the par'
living influences OF declining profitI
and capital absorbed nearly all tina
should have been divided between
and labor. But an increase OF III
precious metals in such quantity an
check this tendency operated NJ q ne
motive power to the machinery Of cou
merce.
Production Was stimulated by fndir
the advantage OF change in the stsn'
ard upon It's side Instead OF being r
pressed by having to pay more, tina
il had stipulated. for the use OF capita
it Wa, stimulated by paying less. Car
tai, too, WIS benefited, for new demand
we're created for il by the new Us
which a general movement in industri
pursuits have developed; so that II
lost little by change 10 the standar
1t gained much more in the greater q
mand for its use, which added TO
capacities for reproduction and its re
value"