Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1896-10-08
HOW PROSPERITY WILL COME.
Bimet.ilism Will Steady Prices-Kee pint
Two the Metals Together.

Dimet.ilism Will Steady Prices-Kee ping
Two the Metals Together.
tFrom the Cincinnati Enquirers
Crystal, N. d., with thousands OF
others. should like to be enlightened
upon the following questions:
1. Through what channels will pros
perity come in the event of free coin
age?
2. What laws will preserve the
equality OF the two metals?
B. What will he the effect on foreign
silver and what will prevent specula-
ton in foreign silver by having IL
coined into American dollars?
j. l.. CARR
1. The fundamental trouble with all
productive enterprises at the present
time is found in the fact that year by
year general prices are falling To- a
lower and lower level. Every manu-
facturer knows that ~ is impossible
to conduct a profitable business when
his products are constantly declining In
price. 1t is agreed by all political
economists that a general fall in prices
really means an appreciation in the
value Of money. The continued de-
Cline in general prices since 1873 In
all gold standard countries means
therefore. hat the volume of money
has been insufficient to Keep pace with
population and business. The grea,
virtue that bimetallists claim for the
RECOMMENDATION of silver is hat IL viii
50 increase the supply Of the money
material that our money volume vii
be adequate to keep prices steady. The
minute We steady prices prosperity will
set IL, whenever a manufact-
urer can sell his goods for q greater
price than they cost him TO produc.
no other cement Is necessary
to induce him to manufacture goods
The farmer is in the same position a.
the manufacturer, and. whereas. n,
| row finds his crops cost him as much
II not more than he can sell them for
owing to the steady appreciation II
the value Of money. he will find ther
conditions reversed and his crops sell
ing for more than they cost him..
2. Bimetallists claim that the equal
ity of the metals in value at the lega
ratio will he preserved by the optior
which bimetallism gives TO all person,
to use either metal they ma,
choose. Should there be a ten
dency for gold to rise in com
parison with silver the demand 10
monetary purposes is thrown upon sill
Yer and withrawn from gold until par
ity is secured. Should silver show
tendency to become more valuable thai
gold then the demand is k from sill
yer and put Upon gold. with a like re
suit. This action in regard to silye
and gold is in no wise different fror
VIVA II is in other cases where one ar
ticle is a substitute for another. Bot
L N-Ian .Dl x-.. =.
bread. and both will sustain life.
wheat should become very scarce Il,
fact that cornmeal could he used wouI
prevent the price of wheat rising D..
yond a certain figure. People woul
begin to substitute corn bread fl
wheat bread. and thus the demand f.
wheat would be decreased. The troubl
with the single gold standard is that " he
gold iegan to go M silver could not h
substituted, and therefore all the ma
lions on a gold basis have been striy
ing to securn as much as possible ~ n
limited supply of gold on hand. wit
the result that gold keeps stcadl
mounting higher and higher.
3. You must understand that the pric
of silver in the United States would L
the price the world over. No one woul
bring silver here to he coined from an
foreign country. the price !
the foreign country would he the sam
as that here. less. perhaps. charges &
transportation. etc. Besides this. n
foreign coin would come here to be r,
coined. because in most countries he
ratio is higher than l to 16. and henc
there would be a loss in bringing
here to he coined. Foreign subsidiar
silver coin. of our would not com,
There is also no great stock OF siivs
bullion. that Is. uncoined silver. an,
where in the world. The silver has
countries need all h silver none
they have on hand. Under these eli
cumstances you VIII perceive tina q