The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1895-11-29

|(1sals1 ~ nshedy) tAaa asarly IN q
IL Usat seaoIes g ss0D0es I'D les>
lsheut soe-eAPd g thstB Dsosy value
nAis 6eeliDs has eesttnued until now
H. Wholesale prices e eo0Dodieiss y
Gensral srs hon - u - ~ csat -
low tAoss q 1917. u sussly requires
% arguDens to sAov that business d.
lpression must Inevitably follow .
sseaAy and general fall q psices- The
eststs nay talk airily about the beauty
e chsap.ess. but 10 practical business
ma svss yet gathessd comfort from z
tall ID the price Of the goods n biz
banda Nor has any producer ever
bses bese1sed BY . eAeapsains q his
product- A fall q Drtces means ~
duced rro0tsL Reduced pro1ts mean .
e~urtailins Of expenseA This IN turn
means . discharge u sopIeyes. . cut
ting o. wages. and reerenchment In
every possible vay- Dtscharged %
pIoyes and thsss Who have suffered >
reduction Of wages. must themselves
sconeuise- and II some cases they BE-
came n actual burden upea Others
So the effects spread from . indivtd-
nj 70 anoeher and from one industry
70 another until the whole community
feels he blight Seeaer q later con-
stantly falling prices NE certain 70 pro-
duce . financial erasA- All dcbts must
y Ultimately paid ont - products. and
II the prices fall too much the debts
simply cannot b. paid when the crash
does come IL ID bound TO Be . severe
one. because II strikes people It = time
when their ability to pay has already
been crippled By the low prices Of What
they have to SELL when the storm
finally clears away IL is found that null
titudes ct struggling debtors have been
ruined. that tens Of Thousands Of small
estates have been wrecked. While . few
gigAntic fortunes have been built up
~ the money centen. which always
protect themselves Il the expense Of
everybody else.
II 10 worthy Of note IN this connection
that the period from 1850 4 1870 vas
one Of Almost universal progress and
prosperity During that period prices
upoa N average. rose about - pr cent
But since then the whole aspect q AZ
fairs has been changed Instead o.
10 rise. q evea remaining
stasiosary. the trend has been ever
the fall amounting t. more
than - per tent
Nov. IL - clear that abest the year
lSs3 something took place that affected
values and business in N extraos-
binary vay-
II 10 equally clear that II must have
been something Of . wy gSneral char
acser TO AFFECT q many different na-
iions and peoples - far renoved from
each ether What vas IL. Was the
system q The world revolu-
By the investtoo u machin-
rsy. Certainly noG Everybody vho
an reaA ought y know that inventisns
and improvements u machinery hal
bsen going - With great activity for
more than half . eeatury befors that
date. and that the improvements have
beea - greater since.
Were methods Ct Transportation -
changed - to produce any marked e.
The ansves nnst again be. No!
Gvea then ve had nearly 1890 miles
= sailrood In TIE country. and the
Desas vas hrtdged ~ lines ol steaDess-
The ~ rigid scsutny will bsins to
light juse eae thias that occurred IN
ls73 which vas calculated o materially
Meet he general business and 1naaces
4 she world
The Standard ~ value "a changed
b. the 6e0ooetisatioa q sflvss-
Ne anosnt q Ane-spun tAsortes. spe-
rial pIsaAing. o. juesiing vsth words
yin dispose e tie esl1 historic fact
hat IN ls73 the United States and 01-
many 18Th de0ooetised silver and
he gold Standard That such
= he part o. these tvo naetons
ineseassd the de0and Sos gold
Nd eorespeaAiAgiy enhanced ID value
DoDs - obvious % any peTsoa Who does
~ blindly eSese biz eyes 70 the great
econe0ie Lao u supply md demand"
Cold being made the standard. and its
value rising under the decreased de-
nand. cher values which we're meas
ured ID goSd fell IN exact proportion. |
Oeher patbons followed the example OF
the GATED States and Germany. gold !
rising higher and higher With the ever !
demasd- and prices falling
lover and lower - gold zen mp
In 1878 the B'and-AIlisou act vas
passed. under which 3.O0o.0 900 silver
we're coined each month For
. tine The fall il prices 20 checked.
ut cher eIemenn d curreney Con-
traction we're q work and TIE decline
ssoa beean again n 1850 the -Shes-
law vas passed. b. which some
thing over S4.ooe.0oo - sdded = the
eurreney eaeh DoatA. and again cane
. siight sdvanee Of prices- Bat 0nan-
eiaI Troubles we're ahsoaA- The great
house q Baring had just failed- The
Bank = Engiaad 20 II i0miaene dan-
eer. aad Dsasly evesy Dooetary eeater
Eurspe - struggling fs gold- A.
before stated. The Untted States "a Tie
rressest debtor sattoa II ths world. u
alnp - . largsr saock q gold than any
ether ucepe Pranee- Bngiand. II her
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