The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1895-07-12


ator Jones the Gold Standard.
1t is asserted by tho advocates of the
gold standard that there is no INSULT
cheney Of that metal for the purpose of
money. If before the decentralization of
silver there was only enough of both
metals combined, how can men justify
tho assertion that there is now enough
of ono of them alone to answer all de-
mands without rendering necessary Il
fall of prices Of commodities? It will be
conceded that value depends on the re-
lation of demand to supply. No reason
has ever been or can be given why
money is not subject to that law. What,
then, was the demand for gold in 1871
Mt tho time Germany resolved to 90 to
the gold standard? There were but three
countries of Europe that were then
formally Oh the gold standard Great
Britain, Portugal and Tnrkey-and of
those Turkey was making no demand
for coin, but conducting its business
with irrcdecmablc paper.
Six of the other countries of Europe
had nominally tho bimctallic standard
namely, France, italy, Belgium,
Switzerland, Greece and Spain But of
these only two-Belgium and Switzer-
land-wcrc actually using coin, all the
others, by reason of wars then but re-
Gently concluded, using inconvcrtible pa
per and making no demand for coin Of
either metal The countries then formal
ly on the silver standard were Germany,
Austria, Russia, Sweden and Norway,
Denmark and Holland OF those Ans
trla and Russia We're without coin and
transacting their business on inconvcrt-
iblc paper money. The people of the
United States, us is we'll known, were
also ut the time transacting their bust
ness with paper money. Placing the
several countries i'll separate citegOrics,
according to their actual condition in
1871, wo have the following results
Countries making demand for gold
alone Great Britain and Portugal
Countries making demand for gold or
silver Observation-Disclosures and Swift
zerland
Countries making demand for silver
alone-Germany, Sweden and Norway,
Denmark and Holland
Countries making no demand for coin
of either metal, but using inconvcrtiblc
paper money-Austria. Russia, Turkey,
France. Italy. Greece, Spain and the
United States
III Belgium and Switzerland, both If
which We're on tho bimetallic standard
silver money was rs useful and as vel
come as gold, so that those countries
made no demand that was imperative
for either of tho metals in preference to
the other
In Germany, Holland. Sweden and
Norway there was no demand for gold
rs money. All tho other countries named
with the exception Of Great Britain and
Portugal. were at that time, as matter
OF fact, upon the paper standard and
made no demand for gold The popula-
ton of those two countries therefore
(belng i'll 1870 respectively 81 600, 900
and 1000, 600, or in all less than 80
600, 000) comprised tho entire popula-
ton of Europe and America that made
aD Imperative demand on gold for none
tary purposes. Let us compare that de-
mand with the demand of today
What are the countries of Europe and
America now demanding gold, strug-
cling for 1t, and cndcavoring to conduct
their business with it? Those actually on
the gold standard are the following:
Great Britain. with q population of
$4,000, 900; Germany, so, 600, 600; Aus
tria, 10000, 900; Turkey, SO, 0O0, 900 {;
scandinavian union NORWAY, Sweden,
Denmarll), 5000, 900; Egypt, 1000,
000
As our bonds have always been paid
u11 10
own country with its e., 600, 900 Dopu-
lation Inasmuch as Holland and the
countries of the Latin union have closed
their minis TO the unrestricted coinage
OF silver, and although not Oh the gold
standard have entered upon the struggle
for gold in order to make International
payments, we must also add the So
OO0,O 900 comprising the combined popu-
latlons OF Holland, Franco. Italy, Swift
zerland, Belgium and Greece, resulting
IN colossal struggle for gold partici-
patod III by $50, 900, 900 people, and
this Notwithstanding the admission of
Mr. Giffen that substantially none of
the gold yielded annually from the
mines becomes, or, if minted, remains,
money, but is absorbed by the arts and
manufactures
This is population nine times that
which in 1871 made demand for gold,
yet we are informed by the advocates of
the gold standard that there is an ample
supply of goid for all purposes, and that
the fall of commercial prices has been
brought about by new inventions
Bond Buyers Always scrutinize the Stand
ard OF PAYMENT
People who buy bonds do not buy
them from altruistic motives. They buy
them for their own profit and advan-