Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1896-09-09
SANTA FE, N. M" WEDN ESDAY, SEPTEMBER g. 1896.

ofTmoney at the ratio of 16 to !, the price
of silver bullion would instantly 60 to
81 l29 an ounce, because that is the rate at
which silver under free coinage could be
coined into units of money, and that rate
would fix absolutely the price of silver
not only in the United States but in the
world.
MONEY CONTROLS.
Ii the volume of money in circulation
in country be contracted by law irrepar-
able injury will result to the people OF
such nation. The volume of money in
this country since 1856 has been enor-
m mously contracted under the laws passed
by congress and as result the people have
suffered incalculable loss.
The great mass of the people have been
ruined financially and the misery and suf'
fering consequent upon such contraction
is beyond the comprehension of men.
The debts contracted by the govern.
ment have been enormously increased
thereby, because it requires vastly more
of the products of the country to pay the
present debts than was required to pay
the debts when originally contracted. The
action of our government in destroying
the paper money that was issued during
the war and which saved this republic
from destruction and in taking away from
the people the right to have silver coined
into money free of charge can not be toe
strongly condemned.
Language is inadequate to properly
characterize the acts passed by congress
under which the money volume has beer
enormously contracted in this country
The contraction of the money volume in
circulation during the past thirty years
has brought more misery and suffering
and financial loss to our people than al
the wars, famiLes and pestilences that
have afflicted this country from the be-
ginning.
Lincoln said "that if the government
contracts debt with q certain amount
of IN money in circulation and then CON
tracts the money volume before the debt
is paid it is the most heinous crime that q
government could commit against the
people," The very crime that he &C
strongly characterizes this government
has committed against our people by
contracting the money volume in circula-
tion by legislative enactment.
Money is of the most value to man
kind in general when it is cheap, because
the cheaper it is the more readily the peo-
ole can obtain it.
The scarcer money is, the more easily
ts volume can be controlled, the dearer
it will be; the more plentiful it is. the
more difficult it is to control it, the
cheaper it will be. Dear money is but
another name for hard times and the
dearer it is-the greater its purchasing
harder the times and the low
or prices will be.
The quantity of money in circulation
fixes and determines prices in general,
other things remain the same. If the
volume increases, prices will rise and if
it decreases prices will fall.
The contest in the business world is
over price. Price is the storm center of
every business transaction in which
money is involved.
Over it battles of commerce and trade
are fought.
There is but one way among men to
regulate the value of money and that is
to regulate it's volume. He who can regu-
late the money volume of nation has
within his power the nation itself, as we'll
as every individual thereof, because he
can increase or decrease prices in general
to suit his pleasure.
He can enrich the few and impoverish
The many; he can exalt those who create
wealth or he can enslave them at his
will.
CONDITION OF THE PEOPLE.
For thousands of years those who have
understood the science and function of
money have 80 manipulated the volume
Of it, by legislation or otherwise, as to
destroy every civilization that has pre-
,eded the present one and those persons
who now control by law, or otherwise, the
volume of money in circulation in the
world will, if not restrained by healthful
and proper laws, ruin the present civil
ization. Such persons have no regard
whatever for those who create and dis
tribute wealth, who build up nations and
who protect them in the hours of need.
Their sole purpose is to accumulate as
much wealth as possible and thereby
e1alt themselves at the expense of the
producing millions.
1t is they who secured the legislation
in this country relating to money and
bonds that have produced the condition of
the people at the present time.
1t is because people generally have had
no accurate conception of the science and
function of money that has enabled those
who understood the question to secure
legislation in this country which enor-
mously decreased the quantity of money
in circulation and produced correspond
ing fall in prices in general.
1t was they who secured the passage OF
the law of February IL, 1873, which de-
stroyed the use of silver for money in this
country.
By that law, one of the sources of
money supply was cut off and as a result,
the value-the purchasing power of the
money that has come from the other
source of money supply, the gold mines,
has doubled, and prices have fallen ac-
cordingly.
They who secured the passage of that
law were they who we're large owners OF
money ana OF uAGlOudl OOuues ny Uudt
act the value of their money was doubled
and the value of their bonds was greatly
increased.
The acts of congress that have been
passed since 1865, relating to money and
bonds, with two exceptions-the act oi
1873 and the act of 189O--are among the
most infamous acts of legislation that
have been enacted by any government
in modern times.
Since the passage of these laws, the
shrinkage in the quantity of money in
circulation, with respect to population
has gone on without let or hindrance. and
as result there has been continuous
fall in prices in general, which has bank.
rupted and pauperized untold numbers
Of our people and has paralyzed, and to q
large degree has destroyed, the farming
and other industries of the country.
The financial storm caused by those
acts has continued with ever-increasing
fury for the past twenty-three years and
the sea of commerce and trade In this
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