St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-31

IN ours, will place the money of those
countries on par with ours. ana
qrlVe all the gold out of them. ana
Keep II out Of them, and confine its
use TO the gold-standard countries or
Now the law of money in its relation
70 price mas always been conceded by
the we'll Informed to be that as vol,
increase It's quantity you correspond
lngly increase price. What mean by
money. Nothing is money to helm
price that is simply token money. or
IN otner words, check, for so much
redemption money. Another law re-
latlng to money is that as you increa Sc
the use, demand, or necessity for ha Sir.
money one-half, you create the same.
erect upon price as when you double
the quantity of money. When we shall
nave nave orlyen all gold money into Eu~
rope, and be keeping it there, we will
De lessen1ng its present use more than
one-half, and European prices will ad-
vance the same as prices in all silver
using countries.
The result will be that our surplus
OF exports over imports to gold-stand-
ard countries, which last year realized
S43l, eGO, 600, will approximately be double
mat sum; or 1852, COZ, 900, giving US a
credit balance that will soon extin-
gu1sh all we owe them, and soon make
US the great creditor nation of the
globe, by virtue of our vast resources
which Europe and other portions of
the globe will need in order to exist
and to obtain these they will have 10
buy Of them from US, and pay the
enhanced prices which will come from
bimetalliSm.
MY last proposition, that as you
double the quantity of the worlds
basic money you lessen it's value and
enlarge the price of property, and that
you do this as effectually by restrict
ing gold money to one-half of the
X cf1r Il
sustained by the ablest financiers and
the ablest writers on finance the world
mas ever known, as you and your read
ers will see if they will purchase Dun
man, at Washington, which is to be
had for . cents, or ten copies for Is
cents each, and read quotations run
ming from page 30 to 105 inclusive I
briefly quote from this as follows:
If the whole money in circulation
was doubled, prices would be doubled;
If it was only increased one-fourth,
prices would rise one-fourth. u. S.
Mill.
The simultaneous employment of the
two precious metals is satisfactory,
and gives rise to no complaint Wheth-
er gold or silver dominates for the
time being, II is always true that the
two metals concur together in forming
the monetary circulation of the world;
and 1t is the general mass of the two
metals combined which serves as the
measure OF the value OF Things. -
Baron Rothschild.
In this book this class of testimony
is multiplied fifty fold by authorities
equally eminent with those I have
quoted: and the experience resulting
since 1873, with the declarations now
made by the gold standard press that
the present dollar would be cheapened
by free silver coinage, which cheaper
ing of the dollar would necessarily adj
vance the prices of property by re-
curing less property to buy the dollar,
conclusively proves the benefits thus
far stated which would accrue to US
by adopting free coinage now in the
ratio of IS to l.
Other reasons exist equally urgent
with those adduced, and which / think
effectUally meet the objections urged
against free coinage, which 1 shall
have to defer until l can write another
article for your paper.
WILLIAM H. STANDISH,
Grand Forks, II. D.
WASHINGTON, July 30.-Robert K.
Gillespie, of Gallatin, Tenn. chief of