Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-08-12

@ptN were mtiltl DOWN INTO one cube
block, it would be a cube Of % fest, and
all the silver melted would be a cube
OF 66 feet.
The present system being inaugu-
rated by
TIE MONEY LENDERS
Of the world proposes to make this
twenty-five feet Of gold furnish all the
primary money required TO stand undes
the commerce and money systems Of
the world. We propose to use beth
metals as primary money and there
viii be little enough when both are
used. Demand and supply effects the
value of money the same as all other
property.
Since silver was demOnetized, the
demand for mOney-primary money
has been thrown on gold. and this has
increased its value. Gold expresses its
value in money by the quantity of prop
erty il will buy. Hence under a gold
standard system money will buy on
an average double as much as money
would when we had both gold and sill
YER as primary money. Credit or rep
reSentative money is tied to primary
money like the tail of kite is tied TO
a kite. IL goes up and down with pri-
mary money. il is redeemable in pri-
mary money IL represents primary
money and has the same value and
same purchasing power as primary
money. Hence the quantity Of primary
money in the world regulates prices in
the worlds market, and the quantity
of primary money in nation regulateS
the price of products in the markets OF
that nation We are now depending
SOLELY ON GOLD
as our primary money with an abnor-
NAL quantity of representative money
in circulation. Hence we have a run
on our treasury gold and an iucesSant
demand for gold to replenish the treas
Ury. What we want TO do is TO increase
our stock of primary money by remOn-
etizing silver. This vii bring silver in
competition with gold again as primary
money. IJ will take the demand OFF
gold and taking the demand on COM
modify lowers its relative value with
other property. The United States is
large enough 20 re-es,ablish the COM
mercial parity of the two metals that
existed prior TO 1873. Any nation can
do this that is large enough to produce
q money market that will absorb all or
the surplus gold or silver i'm the world.
Mexico cannot do it because her trade
is not large enough. We deal largely
with the nations of the world and wheS
silver is made primary money with us.
cur minis thrown open 10 its free coins
age. and we thus say 20 all the nations
silver with us is endowed with all the
functions of money those owning sill
Yer vii mot part with it
FOR ANY LESS
than they can get for il in the United
states. We can absorb through OT eX-
ports AN of the silver i'm the world in q
single year, and can then follow that
by producing from our looms, factories
and fields more products and tell them
-O bring more silver ii they have 1t.
Thus when all the countries of the
world dealing largely with us, find they
can exchange their silver here for our
products and get value received, they
viii not leXchange it with other nations
unless they receive the same This
makes substantially an unlimited de-
mand for silver Us money; corresponds
iugly takes the demand off of gold and
raises the former and lowers the latter
10 The legal ratio fixed by the United
States With us. il makes both metals
primary money. and whether gold is
temporarily seeking our minis or not,
/, puts the volume of both metals in
existence behind our monetary system.
Q
i'm 1872 and prosperity will return. IL
is not business that makes money cir
cula-e il is the circulation of money
that makes business.
"It is no, life that makes blood. it's
blood that makes life Under falling
prices, since 1913. we have entered upon
an
ERA or DEBT MAKING
Failing prices forced the necessity on
our people of borrowing money. So,
from "a nominal indebtedness in 1873 we
are now i'm debt national. state, munich
pal. corporate and private 90 an amount
v3riOusly estimated al from S3O0Oo,
900 600 90 S40,0o0,0 100000. The money
I'm circulation among the people is be-
ing sent east 20 pay interest on debts.
and about SEQ. 1000. 600 annually is being
sent To- Europe 10 pay interest ON our
debts held hv people living In foreign
countries In the debate at Chicago
Nr. s. a. Robinson. representing the
New York City Chamber of Comerce
asked me at thc close of the debate 0us
day this question:
Since the banking houses i'm New
ff