Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1895-12-01
Money and Prices.

A0S eAe 4
down the broad proposition that the
free coinage OF silver would give US q
dollar worth only fifty cents, and in
the very same breath insists that the
restoration OF silver would cause u
extraction OF currency and u fall in
prices below what they now are, it
would mean that the dollar would
buy more than the dollar now buys.
II he would explain how a fifty cent
dollar car buy more than n hundred
cent dollar, he would make himself
better understood.
The idea OF cheap money md 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 mr.
CUES that the effect OF free coinage
would causs the export OF our gold
to foreign countries. Taking this
argument us true, it would not hap
pen until there had been u 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 its 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 mount OF
gold exported, and if that amount was
GoO,000,o00 it would add GOO, 600, 900 to
the volume OF money of these coun.
tries where we sell our surplus prod
ucts. Tho wheat growers, the cotton
growers, the producers of food and
textiles export their surplus to these
countries, and if 600, 0O0, 900 OF gold
was added to the volume OF money OF
these countries it would proportion
ately raise prices i'll 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 mr.
ticles for export would possibly get
twenty-five or thirty per cent. more
gold for their commodities than they
receive now. And inasmuch as Mr..
Carlisle himself admits that the prices
OF our export products in foreign
countries tend to steady the prices
here we can at once see that il the
price OF these commodities was raised
twenty-five or thirty per cent. or fifty
per cent. i'll foreign countries to which
we export them they would neces.
sarily so up to that figure at home.
AS long MS our policy is to drain
these countries OF their gold we must
ook for low prices in this country
and in tho countries to which we OK.
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 tho prices of our export
commodities to these countries, and
il the prices fixed in these countries
fix our prices here we readily under.
stand why 1t is that prices are on q
decline, for this fact / assert to be
the case, and l take issue with Mr..
Carlisle on that point when no insists
that prices, rs a consequence OF silver
decentralization, have not fallan.
Will he or any gold advocate con.
tend that had these been no demono.
t~iza!ion Of silver, and we had O n
tinucd the free coinage Of silver
prices would have fallen rs they hi We
Or will he contend that the demone.
tization of silver has not had tho Of.
feet to n fall in prices, which
mean nm appreciation of money? II
he does. will he explain, il he can,
how the restoration OF silver will have
any effect upon prices or the value of
moncy?-R. i. Bland mt Sedalia
Mo.