New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1896-10-07

more valuable than when invested iu
commodities. Free coinage of silver
will put new money in circulation, will
ENABLE the people to earn more money
land rende. money less dear and more
ready 70 exchange for commod ities and
labor a3 ssss8 sazs
/ hen one class Of prod ueers thriyes,
other classes, by suppl ing that class
with their commod tiles, thrive also. Sill
yer and gold differ from ther commod-
tiles in that when they are stamped 8,y
the government they become money for
which every one seeks and noone thinks
lie has too much.
What effect does the increase or de-
crease in the volume of money have on
the price Of commodities?
When there's an increase in the volume
of money the price Of commodities rises,
and when there is4a decrease in the vol
ume of money the price Of commodities
falls.
What proof is there that this law is
true2
The ablest writer's on economics IN
Europe and America and the experience
ofour own and other countries teach this.
In Australia and California, for example,
when the gold mines we've yielding boun-
tifully times were good; but now that
the mines, especially those Of Australia,
have become nearly exhausted the times
are hard and prices exceedingly low.
Is it not true that the present low
price of commodities is mainly due to
improvements in machinery, ETC.?
Some authorities are willing to con-
cede to this cause or 8 per cent of the
fall in prices which has occurred during
the last twenty-five years; but other au-
thosities contend that the improvements
in the methods of mining gold and sill
yer have been great and will fully offset
all this decline.
Is it not true that the low price of
commodities, especially manufactured
articles, is due to overproducticn?
There has been az increase of produce
tion-in many articles, but in general not
all over-production. The benefits of an
increase of production should go to the
producer and not to the non-producer.
Money should increase with commodities
and business to such an extent that the
general average OF prices may be pre-
served. 49, 49,:
Have not the low prices of wheat and
cotton been caused by the increased
competition of India and other countries?
The increased production of these ar
ticles has not kept pace with the worlds
per capita of population, but our wheat
and cotton growers are now only receiv-
ing the gold price of silver for their pro
ducts while those in silver standard
countries-their main competitors are
receiving its mint or coin price for theirs.
For many years past the price of wheat
and cotton has followed very closely the
price of silver bullion. Hence every adj
vance in the price of silver is benefit
to our wheat and cotton growers, and
this is the reason why our northern farm
ers and our southern planters are so I'M
1versally favoring free coinage of silver.
Is 1t not true that the production of
gold increases each year, and hence in
time will supply all needed metallic
money?
The output of gold increases slowly
each year, but does not keep pace with
the increase of population and business
or with its use in the arts: and hence
gold is IN reality growing constantly
scarcer and hence dcarcr.