The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-01-04

uase value Prior 10 Isl. shs.
ApH1iy Increasing In corsar.,. s. s.
s,..p.',se1snss IA labor saving .sss-sss.
'vse accordingly. The tmr,rnrrsr,....
sii .ahosa after 49, faster ts.s., -
-Sa1a meat inventions utilizing &C.,
slacafy rad neyer been "a r.s,,,.-r,..- =
- esaeienf. But wages csa~s,, - -. 8
oihee issl the productive r..v.- - -
! ms oeen constantly growing. h,t - =.
nave severely" declined IT, -
Garner has at last eubuastts<s - ~. -
orapie power which finally s,etav,r,-.. =,
measures all values-tsa $500 -
ard. gold. by which value + -. -
-. s.ssn since 1881 fsas advanced 30 per
-. % measured By the prices Of com
-s asF which il is exchanged. ina.
nave not been more promptly in
= - % Ahe advance of gold since is7s
a. harmony with the Law which, raeag-
- 1hal wages always follow saosiy zee
ai'osenisis OF prices either up on dawn.
VI ~ denied that the decline Of mice. =
Hne 10 the appreciation OF goI1 ara -
sustain this opinion Edward asksnse,,
ana David A. Wells are quoted ar, /. i.
alleged that Gen. Francis 4. wsiker y,s,1.
hoios the contrary opinion ..if not .sa
peer OF either Atkinson or Wells, ir, ss..rr.-
ing or economic ability" On sF,,a ouessto,,
at issue LET me quote Other a1ff,ars.ix..
some OF whom will be recognized as the
peers OF Messrs. Atkinson and Wesx
sir. Robert Giffen. statisticfan az The
London board OF trade. and friendly ~
gold monometailism. says: ..fn asrnos,
every year since 1873 there has been :
sTingency OF greater or less severity
directly traceabIe or aggravated no
extraordinary demand for gola.. .An-
probation Is q most serious matter :,
those who have debts to pay PROF.
Jevons says: IF those foreign na,ian.
insist upon having gold curreslcieg they
must pay our prices for gold ard in rails
ing the price benefit u.s." Lore Heaeons.
held says, In 1873: Gold is eyary dav ar
preciating. and az 1T appreciates the low
er become prices Thorold Rogers In
1883 said The principal cause of the dis
asters Is the rapid rise In thu. value of
gold Mr.. Goschen. chancellor OF tha
excnequer. said in 1856: .sThe fall Of
prices comes from the rise of gold ;,
Dr. Soetbeer and Professor Suess. the
highest authorities on this subject, con-
cur In these views. and so does Layeseve.
the eminent French economist.
Men use the words. appreciation of
gold. as IL conscious that it exists. gut
the appreciation must be expressed nv
Tue decline OF prices and cannot be ex
pressed In any other way. 1t is conceded
that prices have declined. Cheaper meth-
DDS may have contributed somewhat 10
The result. although under similar condi-
lions, before silver was demoncfized.
prices did not fall. but advanced. AS
stunning that cheaper production may
have had some effect. the course OF prices
prior to 1873 warrants the confusion that
the advance of gold was the main cause
OF the define. or. in the language of Rob-
ert Giffen. II am inclined to give greater
weight TO gold"
Soetbeer In 1882 wrote OF his em.syiy
ings at the appreciation Of gold. Ss,ess
quotes Aressdt and others as to the fate
full significance OF the rising value of the
standard metal.
After this review OF authorities N 10
scarcely necessary TO affirm my opin-
mo that Mr.. Walker Is far better au-
thority on economic questions than
either Mr.. Atkinson or NJ. Wells. have
known all Of these gentlemen personally
Tor more than a quarter of century and
am familiar with their writings. Mr..
Atkinson's recent article I'm the Forum
Is a fair example of hts economic work.
The New York Sun pointed out its de-
fects. and warrants my estimation of
Mr.. Atklnson's rank.
Mr. Wells began public life IN the fifties
as collector of facts for an annual called
the Annual OF Scientific Discovery. the