Crittenden press. [volume] (Marion, Ky.) 1879-1907, 1895-05-02
1t has been truly said, emo country

ever dies except by suicide" and it il
we'll to note here the very curiou
fact that the United States took the
lead in this suicidal policy of demone
; tization of silver, a country it would
seem should be first to retain and de
fend it, especially when it is consid
cred that two thirds of the silver out
put of the world is from the United
States. We demonetized silver in
February, 1878, Germany in July,
1873, and France and the Latin I'm.
ion in January, 1874.
The real reason for this step of ours
which was in fact the initiative of q
similar movement throughout Europe
was decision on the part of the mo
ney lenders and hoarders of Lendon
to demonetize silver. Money loaners
or exchangers deal in money; it is
their stock in trade, it is crop to
them, increasing or decreasing in
value as they can control the supply.
1t occurred to them that if they could
limit the supply of redemption money
to one half the quantity then in ex
istence, what they had would be twice
as valuable, because the supply being
cut down one half, the demand re.
naming the same, what they had
would be Of greater purchasing power
and all notes due them would in like
manner be made valuable, as they
would be payable in dear money.
The plan of these large money hold
ers was to enhance the value If mo-
ney when measured in everything
else, and results have fulfilled their
fondest expectations.
The amount of redemption money
of any country measures all values in
that country. In the United States
prior to 1873, gold and silver both
constituted our money of redemption,
and the combined quantity of both
metals measured values; since then,
however, gold alone has been the
measurement of values. AS both
metals before demonstration existed
in about equal portions, it gave us
about twice as much money as gold
alone will now furnish us. There Is
in the world now. according to the
report of the director of our mini,
about $1,000. OOO.O 900 in god and
! about 50, 800, 600, 900 ia silver, max
ing total of 81, 800, 900, 900 as re-
deInption money. The dislocation of
the parity of the two metals by the
demonstration of silver and placing
us on gold standard has reduced the
redemption money Of the world just
about one half the original amount
1t is now practically admitted that the
exchange value of primary or redemp
ton money, for the property of the
world, and vice versa, fixes the CON-
parative valde of the two. So if the
quantity of money is large, the total
value Of the property of the country
will be correspondingly large, as ex.
pressed in dollars or units. If the
quantity of money is small, the total
value of the property OF the world
will be correspondingly reduced.
Property measures its value in mo-
ney, and money measures its value in
property. Money may increase in
value by reason of its scarcity; when
this is the case it buys more property
property buys less money. The
Same law of supply and demand Jap
plies to money as applies to any spe-
cifc class of property.
IF a certain number Of bushels OF
wheat is a normal supply for the
worlds use, and only one half that
quantity of wheat is produced, what
is the result? Wheat is worth about
twice as much per bushel as if the
normal amount had been raised. For
illustration suppose 500, 100000 bu-
shells Of wheat were a normal supply
for the use of the world, and wheat
was worth 81 per bushel. Suppose
the wheat growers Of the world had q
practical scheme to reduce the annual
output to $50, 100000 bushe Is, and
plant their extra wheat land in some.
thing else OF value. If 500, OOO,O 900
bushels Of wheat were normal sup
ply for the use Of the world, and
wheat was worth sl.00 per busheli
suppose the growers Of the world lad
practical scheme to reduce the an
nlal output to 260, 900. 900 bushels
and plant their extra wheat land u
|somsthing slss Of value. # SOC, 900,
1000 y the supply necessary 70 mes
|the denaud opd under 49, eoadi
!. I;4e--. = o-..<11IoI A - 80 r -