The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-12-12
SOME EXAMPLES.
Lessons From History Contraction
and Poverty.
A Pregnant Parable.

He OJner DAY we had occasion to
turn to that great work. The Ameri-
can Encyclopedia, and in Vol. TX.
page 359, we accidentally came upon
this passage.
In 1922 Ireland suffered from a
famine, produced, says Alison, "by the
contraction of the currency, and con-
sequent fall of the prices of agricul-
tural produce so per cent" CObbett
says there was food enough, but no
money to purchase it.
England had been compelled, dur
ing the Napoleonic wars, to suspend
specie payments and issue an abund-
anu paper currency, just as the United
States did from 1861 to 1865. And, in
the same way, after the heroes had
fought the battles, and won victory,
and heroic populace had footed the
Dllls, the money-changers and the
doctrlna1res came in and insisted I'D.
on specie resumption and a contrac-
tlon OF the currency: and the Ameri-
can Cyclopadia shows that this course
had the same effect in Ireland in 1922,
that it has had in the United State
in 1873, and is having again in 1S94-a
fall OF prices Of agricultural produc-
tlons, and starvation in the midst of
plenty. The same consequences fol-
lowed in England.
The agricultural and industrial
poor' says the Encyclopedia Britain
MICA, Vol. VIII, page 364, "were on the
verge OF starvation. 1t would be
absurd to draw too close comparison
between the position of the English
upper classes at this time and the
French upper classes before the Revo-
luton. But there was the same ten
dency to use political po,cer as q support
Jor her o,cn material interests. the same
neglect OF the acaHts and feelings of those
acho had none to help then,."
This is just what we have today in
this Countrywide use of political
power for purposes of personal enrich
ment; political parties used as instr
ments of plumber; and reckless dis
regard of the interests or condition of
the masses. And just as we have had
riot, turbulence, arson, murder in
these United States during the past
year, SO we read as follows of Eng
lands condition in 1916.
"Those in authority were naturally
startled when. at a time when mobs
driven to desperation were breaking
machines and burning ricls, Cobbett,
In his Weekly Political Register, was
advocating universal suffrage and an
nual parliaments. The revolution
struck down in France appeared to
be at the doors in England"
There was riot in London in 1916
and,-horrible impiety.-even a mis-
slle was thrown at the carriage of
that old rascal, the Prince Regent.
The Habeas Corpus Act was sus-
pended. Seditious meetings were
held
The strife between classes culmi-
mated in 1919. Large meetings in the
open air were held in the great towns,
and lnflammatOry speeches we're free
ly addressed to them. Some of the
speakers were arrested. At Stockport
the constable in charge of one of the
prisoners was attacked and shet.'
There followed great riot at Man
chester. Six persons were killed and
many wounded. The nation divided
into hostile camps. The fool George
III, lost the little sense he ever had
and became a raving maniac. The
new king, George w., an abandoned
and protiigate wretch, tried to divorce
his wife for infdelity. Canning came
to the rescue Of the country:-he took
steps which limited the powers of ag-
gression of the despotic monarcbies:
and finally the right of suffrage was
extended; and England turned her
back on the conservatives and adj
vanced in the direction Of Democracy,
just as we are now travelling, at rail
road speed, towards Plutocracy.
Now, let us turn again to the
American Encyclol @dia, Vol. NI, D.
744, here we have a quotation from
the celebrated philosopher David
Hume:
1T seems maxim almost self
evident. that the prices Of ererytItinq de-
pend on the proportion Jet,reen commodities
and money; and that any considcra BILE
feet of heightening or lowering the
price,"
That is to say. an increase in the
worlds supply of wheat lowers the
price Of wheat; and q decrease in the
worlds supply Of money lowers the
price OF wheat. In this sense the
wheat and the money are both com
modites which react on each other.
And on page 745 of the same volume
we find quotation from the Bullion
Reports" which says:
IAN increase in the quantity of the
local currency of particular country
will raise prices in that country,
exactly in the same manner as an iri-
crease in the general supply of the
precious metals raises prices all over
the world"
Here is a tremendous fact:-an
abundant supply of currency means
rising prices, larger returns to indus
try, the paying off of debts, doing
business on cash basis, ,-prosperity,
Advancement, culture, happiness, and
Republican institutions. An made
quate supply of money means falling
prices, small or no returns to industry
accumulation Of debts, usury, the
less Of homes, poverty, discomfort
turbulence, starvation, sin, crime, an
archy, standing-armies and despot-
| ism.