Sierra County advocate. [volume] (Kingston, N.M.) 1884-1960, 1896-09-11
MONEY.

lGOLI lIodity ioi uohcf auu ieo wv
laration that 1t shall be legal
tender, that gives to any metal
any vaIne beyond it's intrinsic
worth for use in arts or other ways.
This is not a fiat value, but val
ue dependent upon the demand
for it. ii ia almost purely con-
lectural what value gold would
have IL robbed Of its Law value;
we may be certain that it would
sell Immediately at great ,redac-
tion. Now what is the situation
with which we have to deal? We
find that through our own legisla-
ton and that OF other nations, the
money value of silver has been
taken away from 1t, and all the
money value which heretofore for
centuries-and they are centuries
of progress-had been given to
gold and silver, is now given to
gold alone. What has been the
result? Just what anyone famil-
lar with the simplest rule Of polit-
ical economy could have predicted
"a depreciation of silver and
greater demand for gold. The
greater demand for gold rapidly
enhanced its value and real estate
and all its products, labor and
all its products, measured in gold,
shows decline in prices. And
plainly If the world grows in num-
bers, or business increases, the
demand for gold the accepted and
conyentional Representative of val
ne and great medium Of exchange,
will continue to grow in value, and
on the other side there will be an
apparent reduction in prices. In
tue course of years. however, IT
must Inevitably result that gold
will continue to appreciate TO the
advantage of the creditor and money
holding class; it is the very sys-
tenn which will, and is now doing,
fastening plutocracy on this
country.
An exclusive gold nation like
England may shoy the most mas
sive fortune in the ruling class,
but it shows also the most hel p
less and hopeless poverty in the
humbler walks of life. According
to reliable statistics the value of
gold at the beginning Of this year
as measured in commodities. had
increased 70 per cent over the
period between 1867 and 1877. III
gold has not risen in yalne and
decreased the price OF everything
else, what do the gold party mean
when they say to the laboring man
that the purchasing power of the
dollar is greater now than ever be
fore. Don't they know they are
exposing themselves to the charge
of hypocracy when they deny the
appreciation OF gold, and at the
same time argue that the dollar
now is more potential than ever;
and don't they know that If the
dollar will buy more than hereto
fore, it is harder to get, and that
you must give more labor for it,
and more produce for it.
The gold party cay that the de-
mo 1etization of silver has not
had tendency to lower prices,
but almost IN the came breath they
charge :ha: the roDone:;:a.:cn c.
silver viii unduly enhance prices.
They deny that the prices of COM
modities have gone down, and the
next moment explain taa: the
resson for the decline is over pro-
duction. 1t Is not an over produc-
tion, bnt an under-consumption;
the scarcity of money causes an
under consumption, system
which enriches the money owner
at the expense of tbs producer,
effers q premium to sIoth, lays a
burden on toll and checks useful
enterprise OF every kind. Jeffer-
son enioined as to often return to
a consideration OF first principles. |
The remoneti2ation OF silver is a
return 10 a system under which |
the world developed from barbar-
ism into civilization. Great results
often cost life, blood and fortune,
and they are cheerfully given by |
the patriotic. A people never
for more important end
than the re-estsblishment OF our |
monetary system, and yet We can
sacrifice much for the cause and
still be richer in the end. We ore
asserting a great principle OF gov
erDment-ths right TO govern our