The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1896-08-26
DISCUSSION OF THE MONEY
QUESTION.
Questions and Answers Shedding
Much Light on the Subject,
tCincinnati Enquirer. ]

process Dy WHICH we are 10 Tebume pros
perity in the event Of the unlimited
coinage of silver2
2. II, as understand it, mining Of
silver will Immediately commence on an
increased scale, how long before the
East will enjoy prosperity, that the
West have in such instance
Is there any likelihood Of silver
money becoming too abundant il all of
the silver mines resume to their full ex-
tent, for in 1873 the product was 27,000,-
600 ounces, and in 1893 it was SO 600 900
ounces, period under demonstration,
and therefore under adversed circum-
stances2
4. Can free and unlimited coinage go
on indefinitely, or what shall we do in
about eight or ten years hence il our
currency has increased to billions? Is
there no limit? A SILVER DEMOCRAT
l. The curse that is now affecting
productive industry is falling prices. A
general fall in prices means that your
money is approaching in value through
its volume being insufficient. The m m
ufacturer at present finds that his pro-
ducts are getting lower and lower each
year. while his debts, taxes and other
fixed charges continue to call for the
same number of dollars. Cons, qnently
he is between the devil and the deep
sea. What he owes remains constant
What he has to pay with is growing
smaller. Bankruptcy is the inevitable
outcome. With the free and unlimited
coinage OF gold and silver, the latter will
resume its time-honored place alongside
gold as primary money and regulator
of values. The first effect will be to add
to the volume of money, aud prices will
become steady. The next effect will be
to advance prices The manufacturer will
then find rising market instead OF a
falling market awaiting his wares. He
will sell at profit instead OF a loss.
This will induce him to employ men,
increase his production and extend his
Operations generally. His debts will not
bother him. because the gulf between
his goods and the bankers dollar will
have been bridged by the advance in the
price of his wares The same process
will take place with the farmer. When
the farmer is prosperous the whole couu-
try is prosperous. The farmers will then
have some money with which to buy
commodities, and the interchange be-
tween country and city will resume its
normal course. This will necessitate the
carriage OF freight by railroads, and they
will make money instead of going into
the hands of receivers as they are do
ing now.
2. How long this process will require
no one can definitely state, of course. 1t
is something like asking how soon a sick
man will get we'll after he has taken the
proper medicine.
3. The contiDg9ncy you speak OF is
very remote. We found our opinion on
the statistics showing the combined pro-
duction OF gold and silver for hundreds
OF years. This, on the whole, has b zen
made quate to meet the demand of mon
ey. You must consider that silver and
gold mining is very uncertain. A great
production Is apt TO be followed by a
small production. Then, sgain, you
must recollect the world is increasing
in population and business very rapidly,
and both these circumstances call for
large additions yearly to the money vol
ume. Another important fact is that
the larger the money volume the less
influence does any addition have upon
the whole. A bucketful OF water added
to Cincinnati Reservoir has practica ly
no effect upon its level.
4. You use the word unlimited" as
though it meant "infinite." The coinage
OF silver is limited by the production OF
silver. The production OF silver is limit
ed by nature. 1t takes labor and time
and capital TO mine it. When you real
izs that all the gold money now in ex-
istance in the world accumulated through
the ages, amounts to only about 81 .OOO,'
100000, and that the silver money accu-
INFLATED during the same time about
equal the gold money in amount, you
preceive that the production OF both
gold and silver during the next eight or
ten years need not keep you awake at
nights wondering what you are then go
ing TO do with all your money.