Daily independent. [volume] (Elko, Nev.) 188?-1915, 1895-11-25
Money and Prices.

@NON
dollar worth only fifty cents, and in
the very same breath insists that the
restoration of silver would cause a
contraction of currency and fall in
prices below what they now are, it
would mean that the dollar would
buy more than the dollar now buys.
If he would explain how a fifty cent
dollar can buy more than a hundred
cent dollar, he would make himself
better understood.
The idea OF cheap money and fall
ing prices are antagonistic The two
cannot co-exist, and no man under
stands this better than Mr.. Carlisle
himself. A cheap dollar means that
it will buy less OF property. He ar
gues that the effect of free coinage
would causs the export of our gold
to foreign countries. Taking this
argument as true, it would not hap
pen until there had been sufficient
supply of other money to take the
place of the gold so exported, for the
simple reason that gold would be
worth more here than abroad until
we had supplied it's place with other
money to keep up the prices abroad
But what would be the effect of
sending our gold abroad? 1t would
go into the gold standard countries -
England, Germany and France. 1t
would swell the volume of money
in those countries to the amount of
gold exported, and if that amount was
6O0,000,000 it would add 6C0,000,O0O to
the volume of money of these coun-
tries where we sell our surplus prod
ucts. The wheat growers, the cotton
growers, the producers of food and
textiles export their surplus to these
countries, and if 600,O00,000 of gold
was added to the volume of money of
these countries it would proportion
ately raise prices in these countries,
and especially the prices of those
we export and sell to them for
gold.
In that event the farmer, the man
ufacturer and those who produce ar
ticles for export would possibly get
twenty-five or thirty per cent. more
gold for their commodities than t!L.oy
receive now. And inasmrcl as Mr..
! Carlisle himself adrlits that the prices
of our export products in foreign
countries tend to steady the prices
here we can at once see that if the
price of these commodities was raised
twenty-five or thirty per cent. or fifty
per cent. in foreign countries to which
we export them they would neces-
sarily go up to that figure Mt home.
AS long as our policy is to drain
these countries of their gold we must
ook for low prices in this country
and in the countries to which we ex-
port our products, and the more gold
we drain from England, Germany
and France the more we lower their
prices, and the consequence is the
lower will be the prices of our export
commodities to these countries, and
il the prices fixed in those countries
fix our prices here we readily under.
stand why 1t is that prices are on g
decline, for this fact / assert to be
the case, and take issue with Mr.
Carlisle on that point when he insists
that prices, as a consequence Of silver
decentralization, have not fallan.
Will he or any gold advocate con
tend that had these been no demono
tization of silver, and we had con
tinued the free coinage of silver
prices would have fallen as they have
Or will he contend that the demonc
tization of silver has not had the Of
feet to cause fall in prices, which
means an appreciation OF money? II