The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1894-12-13
rs THERE ENOUGH MONEY 2

sible men who say and believe that there
10 plenty of money. IL is locked up in
the banks and unavailable because, they
say, 'there is no confidence" What We
want, in their judgment, is not more
money, but more confidence.
These are the opinions gwen out by the
money owners and their organs, and
have had too much weight altogether.
We heard any quantity OF this talk be-
fore the repeal OF the purchase clause Of
the Sherman act. Upon that repeal we
were promised an immediate return Of
confidence and the restoration OF all
things. But it has become evident from
the irresistible logic OF events that conf
denee was not to be restored that way.
A profound conviction has taken root in
the hearts Of the people that the destruc-
tion of one-half the metallic base OF
the worlds business transactions and
credit is not the way to restore prosperity.
And profound distrust of the intentions
or judgment of those who have forced
that policy on us is growing every day.
1t is becoming clear to the people that
the overturning of the basis on which
the money values OF all things had been
forming and adjusting themselves for
ages, was a terrible mistake.
What does this cry Of lack of conf
dence mean? II it means anything def
mite and practical, it must mean tina. the
owners of money have no confidence in
the values OF other things.
just here it is we'll to ascertain clearly
what we mean by value.
Value has been well defined as being
not intrinsic, but extrinsic and relative.
The estimation that men place on things
on account of their usefulness and desira-
bility, or because Of thier limited quantity
as compared with other things. The
more one examines this definition the
sounder it seems.
If there is no confidence in the values
of things II must be because these values
have changed; that is, that their money
CnahkCo. AuclI Ndiuc
pared with everything else has not
changed. Their usefulness and desra-
bility are as great as ever-their proper
ton to other things is the same. Is 1t
not then absurd to say that the values OF
everything but money have changed,
money alone has remained steady? Is it
not rather true that the value OF money
has increased, and the measure OF that
increase is the seeming decrease common
to all other values?
Let US remember. while inquiring why
the value of money has increased, what
money is. Credit is not money. The
money OF the country Is the gold and sill
yer and notes. Our notes are redeemable
in gold and silver. and our silver is held
up to the gold standard. 1t is clear,
therefore, that our money is based and
rests on the gold standard. Gold is the
money Of full power and final redemp-
ton.
1t is we'll to remember here that there
are only about 81, 800, 600 900 OF gold in the
world, and that this country owes Eng
land more than I've times as much as abe
has gold to pay with. International con.
ditions might arise at any time which
would force England to realize on her in
vestments here and draw all the gold out
of the country.
Ever since the demonstration OF silver
in the early seventies, gold has been rap.
idly rising in value. Comparatively
speaking. it never did rise in value be-
fore that time. 1t has so risen because
Its use, powers, privileges and desira-
bility have been increased, and because
its quantity considered as money! has
been decreased by the destruction of sill.
yer as money.
There 10 no other reason in the nature
OF things why its valne should have in
creased as 1t has. The result 10, clearly,
that it takes more OF other things to buy
agiven quantity Of gold than 1t used to.
The result was inevitable, and the gold
owners knew il.
One-half of the wealth of this country
is now in the hands of few. Probably
about $1,000 out OF over 81, 0O0, 600 popu.
lation own one-half of the natural wealth
Each recurring squeeze diminishes this
number. A dozen men in Europe and
America could corner the worlds gold al
any time. When one talks of O conspir.
acy OF the money owners he 10 laughed
at. Does any one believe that the Roths
chiids, their agents, associates and fol-
lowers, men who have virtually controlled
Europe for so long, men whose fortunes
and powers are growing irresistibly by
their own momentum, men the breath oil
whose nostrils is the adding of million te
million men whose financial shrewdnes.
has been increased by heredity. training
and the passion for gold, which grows al
nothing else does by what il feeds ON
Does any one believe that these men ar,
capable of financial conspiracy? Won
drous hallueination! The single GOLD
standard is the result of conspiracy, tho
root Of the money trouble.
Money is locked up when the none,
owners become alarmed. When they arr
not alarmed the money remains in use
But even then there is not enough Of it
1t has been the elasticity OF credit thai
has hitherto enabled money to do IT'D
work. The natural. healthy business o.