The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1895-07-04

&
y to Inconvenience, but to loss.
1t is tho most monstrous Of ideas that
because few men can make profit by
sending out the money Of the country
all the industries Of the country must be
lisarranged. III an age of enlightened
civilization nothing seems more absurd
and unjust
Itsis natural and proper that some diff
fculty should be experienced in trans
muting the money Of one country into
Che money Of another.
If people III one country wish to buy
III other countries more than can be sold
from their own country, they are warn
ed by the state of the exchanges that the
balance is against them. According as
the balance becomes more and more
against them, those who persist in buy
ing should personally suffer the incon-
venience. The people Of the entire coun-
try, who have nothing to do with i'm
rortations, should not be compelled to
suffer-
Whenever chat which may be termed
international money has it's normal val
ue, it is at the par Of exchange When it
becomes Improbable to ship products
and the demand for money for shipment
becomes excessive, SO that a premium
arises, the persons who should pay the
premium are the importers-those who,
for their own profit, import into the
country moro than the exports of the
country can pay for.
The people Of the whole country, who
are conducting business 100 times as
large as the entire importing business,
and under Our system of credits involv-
ing themselves in debt to enormous
amounts, should not be compelled topay
q premium upon every dollar Of their
domestic debts simply to suit the con
yenience Of q few importers. Any bal
ance OF trade which can possibly be
against us must always be infnitesimal,
compared with the enormous amount of
domestic debts that are constantly being
paid by otll own people If we had an
ample supply of silver money for the
transaction Of our own business all that
we could need Of gold would be such
sum as would meet any adverse balance
Professor Stanley Jevons, one of the
most renowned Of the financial econo-
naists Of Great Britain, i'll a paper road
before the American Social Science us
soclatlon jn Saratoga, in 1877, said:
"Gold is not really requisite except
for making international payments, and
the stock need not be very much larger
than will meet any conceivable demand
for expectation.
I call the special attention Of those
who have horror Of the silver standard
to remark Of the London Times, which
with them ought to be the first of au-
thorities, in discussing the very bill
which it is now proposed to repeal. In
an editorial on the SO called Sherman
law The Times of Sept 1, 1890, said:
"Under silver standard q rich coun-
try can keep as large a stock Of gold as
it requires for all purposes without any
whatever.
Effect of the Gold Standard In Great Brit
The creditor classes are, and we'll may
be, content to receive, not the money,
but the materials which the money will
buy. Producing nothing by their own
labor, they can observe without regret a
fall in the prices of the prod
ucts Of other mems labor They know
that it would be impossible to obtain
the gold, and that, if obtained, it would
be good only for it's purchasing power
as money. For hundreds of years, as I
have shown, it has been the determina-
tion of those classes to dominate the
commercial and industrial world They
are too intelligent to attempt in this
age domination Of force. They know
how to acquire domination by strategy.
This was the basis Of their determina-
tion to limit the supply Of money to gold
alone
When they decided to adopt the gold
standard, they knew that the quantity
Of money in circulation determined the
value Of the monetary unit. Before tax
ing that step they were not unaware of
5he difficulties that would be encounter
ed, but not being themselves producers
IF wealth they had nothing to fear. The
niseries which their course might in
1ict upon others was not matter which
them. In the investigation by
he parliamentary committee, made
prior to the adoption of the gold stand
,rd, the manufacturing interests of
Great Britain were represented by wise
md thoughtful men, who foresaw and
lelineated the consequences that must
'nsue from the carrying ont Of the gold
policy, but the executive department of
he government of Great Britain turned
| deaf ear to the statements of the man
lfacturing and agricultural classes and
listened only to those of the bankers
md money lenders. To their interest,
hen, as at all times since, every other
interest was subordinated.
So long as the rich and cultured
lasses in those countries are enjoying
ife it is a great comfort to them to sup
'ose that all others enjoy it. They con-
ern themselves very little with the suf-
erings or burdens Of the workers, and
specially Of those who are relegated to
dleness. They have no personal knowl-
dge Of those conditions. It is gratifying