The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1895-06-27
THE MONEY QUESTION
The Cause Of Colds Greatly Appre.
Ciafed \(alue.
Relations of Demand and Supply to
the Value of Gold as MOney-Isoud
Buyers and the Rights OF the
GOvernment-Senat Jones
on the Cole. Standard,

oioHSy VI o4ltto ulettt4 IOE tn0 purpose OF
money. If before the decentralization Of
silver there was only enough of bot1
metals combined, how can men Justify
the assertion that there is now enough
OF one Of them alone to answer all de.
mands without rendering necessary q
fall Of prices Of commodities? It will be
conceded that value depends on the re-
latlon OF demand to supply. No reason
has ever been OR can be given why
money is not subject to that law What,
then, was the demand for gold in 1871
at the time Germany resolved to go to
the gold standard? There We're but three
countries of Europe that were then
formally on the gold standard-Great
Britain, Portugal and Turkey-and Of
those Turkey was making no demand
for coin, but conducting it's business
with irredeemable paper.
Six of the other countries of Europe
had nominally the bimetallic standard
namely, France, Italy, Belgium,
Switzerland, Greece and Spain. But Of
these only two-Beigium apd Switzer-
land-were actually using coin, all the
others, by reason of wars then but re-
Gently concluded, using inconvertible pa
per and making no demand for coin Of
either metal. The countries then formal
ly On the silver standard were Germany,
Austria, Russia, Sweden and Norway,
Denmark and Holland Of those Aus
tria and Russia We're without coin and
transacting their business on inconvert-
ible paper money. The people of the
United States, as is well known, were
also at the time transacting their bust
ness with paper money. Placing the
several countries in separate categories,
according to their actual condition in
1871, we have the following results:
Countries making demand for gold
Britain and Portugal.
Countries making demand for gold or
silver indifIerently and Swift
Countries making demand for silver
alone-Germany, Sweden and Norway,
Denmark and Holland.
Countries making no demand for coin
OF either metal, but using inconvertible
paper money-Austria, Russia, Turkey,
France, Italy, Greece, Spain and the
United States.
In Belgium and Switzerland, both Of
which were on the bimetallic standard,
silver money was as useful and as well
come as gold, SO that those countries
made no demand that was imperative
for either of the metals in preference to
the other
Ins Germany, Holland, Sweden and
Norway there was no demand for gold
IS money. All the other countries named,
with the exception Of Great Britain and
Portugal, were at that time, as matter
If fact, upon the paper standard and
made no demand for gold. The popula-
ion of those two countries therefore
being in 1870 respectively 81, 100000
md 100000, Or in all less than &c.
700, ,000) comprised the entire popula-
ion of Europe and America that made
IN Imperative demand Oh gold for none
ary purposes. Let us compare that de-
nand with the demand of today.
What are the countries of Europe and
America now demanding gold, strug-
cling for it, and endeavoring to conduct
heir business with it? Those actually on
he gold standard are the following:
Great Britain, with a population of
q, 900, 900; Germany, 50,000,0 900; Aus
ria, 10000, 1000; Turkey, $4,000, 900;
scandinavian union NORWAY, Sweden,
)enmark), 100000; Egypt, 7,O00,-
100.
AS our bonds have always been paid
n gold, we must add to this group our
wn country with it's 67,O00,0OO popu-
alton. Inasmuch as Holland and the
ountries of the Latin union have closed |
heir mints to the unrestricted coinage
t silver, and although not on the gold
tandard have entered upon the struggle
or gold in order to make international
ayments, we must also add the 85,-
90, 900 comprising the combined popu-
atoms of Holland, France, Italy, Swift
erland, Belgium and Greece, resulting
1 a colossal struggle for gold partici-
ated in by $50, ,000,00 people, and
lis Notwithstanding the admission of
lr. Giffen that substantially none of
1e gold yielded annually from the
lines becomes, or, if minted, remains,
loney, but is absorbed by the arts and
This is a population nine times that
hlch in 1871 made demand for gold,
ct we are Informed by the advocates Of
le gold standard that there is an ample
lpply OF gold for all purposes, and that
he fall Of commercial prices has been
Ought about by new inventions
ond Buyers Always scrutinize the Stand
ard of Payment.
People who buy bonds do not buy
em from altruistic motives. They buy
em for their own profit and advan-
ge. They buy bonds Of the United
;ates, as they buy all bonds, only after
reful scrutiny of the terms Oh the face
the bonds and of the laws by author
? OF which these bonds have been is
ed. They look sharply to the figures
hlch show the dates Of payment Of
lnopl and interest; but, above all