The midland journal. (Rising Sun, Md.) 1885-1947, 1895-09-13

tries on gold, while releasing that
demand on silver. The result is
that gold money became a dear
money, which is constantly advanc-
ing in price or purchasing power,
while silver money was cheapened
and the supply of money increased
in all silver money countries. In
: the gold standard countries money
of final payment is growing scarcer,
and the silver standard countries
money is becoming more plentiful
and consequently cheaper in rela-
ton to the value of products of
industry.
One of the arts of the gold ring
spectators is the cry of "cheap
money!" and they have succeeded
to considerable extent in deceiv
ing and misleading the public by
this trick.
1t is cheap money that industry
requires more than anything else,
and dear money that usury de-
mands. Before considering the re-
lation that money bears to industry
let us glance at its effect on industry
at certain periods. During the
Shareholders rebellion and for sew
eral years alters its close were the
most prosperous periods the indus
trial class of this country ever eX
perienced. Then money was cheap
and plenty and gold was commod-
ity and had to be purchased at a
heavy premium. Work was plenty
for all who desired employment,
and good wages the rule. Farmers,
manufacturers and people engaging
in any and every line of business
prospered where care and average
ability were controlling factors.
This happy condition among the
industrial class began to slacken
when the volume of money began
to contract and the scarcity of
money brought up its purchasing
power to that of gold.
In "silver basis" countries this
contracting money influence has not
been felt. In all of them gold has
to be purchased at its market price
as bullion. compared with silver as
bullion, because money loses its
money function the moment it goes
beyond the boundries of the coun-
try to which it belongs, and if coin,
assumes the bullion state and be-
comes commodity. We find
China, Japan, India, Mexico and
all the South American countries
forging ahead in their industries,
and having vanquished all of the
gold standard countries in agricul-
ture, iare steadily encroaching ON
their manufacturing. They are
beginning to build up manufactures
with their plentiful and cheap
money, go into the gold standard
countries markets and successfully
compete with their manufacturers.
We have now reached the point
in our inquiry where the relation of
money to business should be con-
sidered to understand why the
cheap money or silver standard
countries are threatening such
havoc to the productive interests of
the gold standard countries, which
inquiry involves the relation off
money to productive industry.
Money is simply Il tool of produc-
tive industry and is used in pro-
ducing, distributing and trapsfer-
ring the products and the value of
the products of labor. AS medium
for the transfer and distribution of
values money bears the same rela-
ton to industry or labor that the
cart, the wagon, the freight car and
vessel bear to the prodocts of in
dnstry. Money is the transferrer
of values, the diyisor and distrib-
utor of those values, as the wagon,
car, &C., are the transformers and
distributors of the products. If the
vehicles used for moving and dis
tributing the products of industry
are very expensive and Inadequate
in number for the transportation of
goods, the expenses will be cores
pondingly increased, and the COM
peting firm, corporation or nation
that is supplied with an abundance
OF cheap tools used in production
and distribution Gifts products, will