The midland journal. (Rising Sun, Md.) 1885-1947, 1895-10-04
Why Gold is the Worst Money in
the World.

the World.
1t goes abroad as merchandise to
pay balances of overtrading and
Injuries the business of the country
by diminishing the circulating
medium in the country. When
the volume of the circulating
medium of country is suddenly
lessened it is parallel case to
drawing a portion of water from a
canal that is crowded with boats
and barges loaded with merchan-
disc; some of the boats Immediately
ground. Money is the medium
that floats all business, the means
by which business is transacted as
water is the medium, the means by
which commerce is moved, or the
merchandise which constitutes
commerce. If the water in canal
is suddenly withdrawn till the
canal is but half full which was
before bank full half the boats, or
all that are heavily loaded will be
grounded. And in like manner
with business and productive enter
prises in all lines of business when
loans are called in by the banks
and further accommodations re-
fusedpersOns and firms who OhaveeX-
tended their business and are en-
ploying large numbers of laborers,
they are compelled to curtail their
business and discharge numbers of
employees. This condition must in
evitably be the result at short in
tervals where the gold basis system
of finance prevails. Gold is very
scarce in comparison with the great
quantity of money needed to trans
act the business of the country and
when the money Of that country is
confined to gold and its representa-
tive, bank credit, the business of
the country is always at the mercy
of the small class who can manage
to control the gold. That class
have a constant temptation held
out to them to speculate. They
can force the banks to contract their
loans at any time, refuse to extend
their credit to business, which i'm
mediately Slackens, contracts, and
prices begin to fall. If the con-
traction is violent, panic ensues and
a period of bankruptcy sets in with
thousands of: business failures. The
small class of gamblers in gold buy
up the best properties which are
thrown on the market by these
periodic financial cycloners at a
mere song compared with their
former values, thus the great in
dustral class is subject to constant
spoliations by this class of profess
sional gamblers which has come to
be known as the gold ring from
their depredatiOns on the industrial
class. AS long as this fraternity
VI gnu SdululClS Cdu utcelNc Nv
their sophistry and intimidation,
the users of money to accept their
system of "intrinsic valuen finance
and they be allowed to select the
article which is to compose and
represent the intrinsic value money,
they will remain masters of the
entire wealth of the country and
toll it at their pleasure. They will
always choose the dearest COM
modify and the one which can be
kept comparatively scarce, which
is gold, as their material for money,
primary money!" they call it.
These are all sufficient reasons
why gold is the worst money pos
sible that can be divised.
TO remOnetize silver and add it
to the volume of this primary"
money will greatly enlarge it's
volume and increase the difficulty
of cornering and creating financial
panics by the intrinsic money
gamblers. But that class will
never be banished with the lottery
gamblers, where they belong till
the government takes a firm grip
of the cOuntry's finances, issues
legal tender paper in amount to
supply the demands of business and
regulates the supply to legitimate
demands.