Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1896-09-30

pose gold in the world were destroyed exeept
the gold in one thousand gold dollars And under these
circumstances the demand for gold would remain as
what 1t Is nowwith nations scrambing It. ationa
states counties cities
ciai system of so many governments based thereon
single one of these geld dollars of these thousand geld
dollars left in the world would buy the State Of M
nois Applause. and voice. THAT is plain.D
EFFECT OF THE ACT OF 1873.
With the strain that had heretofore been shared By
both metals shifted by act Of 1873 and subseauens
legislation on to gold. only primary money. With
silver reduced to the position OF token money longer
coined at the mint and handed back the bring
ing the metal bat purchased with gold by the govern
ment and coined into token money the dears
metal there came rise in the value gold The duty
that had heretofore devolved both metals per-
formed by The debtor was no longer to have tie
right TO regulate the demand The law az 10
with the resumption of specie payment to follow in 1873
Cd gold alone Silver longer any figure in
our monetary system as primary money Thereafter.
when value was expressed in terms OF money, 1t
to mean gold its equiyalent.ssTh government that
had heretofore. walked legs under
take the difficult task of walking one leg
And silver degraded TO the position of base coin
md used as token money represent gold Then
the rise in gold The demand for it doubled and the ef
feet that it, and the money representing bought
more and more property the demand for it increased
But as it increased in purchasing exchanges
bic value we continued TO refer to it dollar.
If all the gold in the world destroyed except the
gold in single gold dollar, and only law for making
primary called for the gold that gold dollar,
as the only money and standard of value would stl
call 1t dolar-as measured in itself it would be dor
lar but as measured in exchangeable value with
ery it would buy the western hemisphere So the dol
lars rise in value expressed in relative value with
other property but do rise in value expressed IN
themselves.
DISTRESS THE RESULT
The this change can only be under.
stood by following the result of the appreciation Of gsd
what the thng-the fall Of prices Price the
of expressed in And the value
property compared with money has declined. Colo
and its equivalent has The equivalent has fol-
lowed the gold the tail OF the kite follows the kts
Property seeking the market has purchased less ana
less money And what is the effect of all this tie
prosperity Of the American people?
DEBTS.
We are a credit people We seem never to have haA
enough money business a cash basis. We have,
perforce been compelled to do business credit TIE
merchant buys of wholesale house credit. The
wholesale of the manufacturer credit The
volume of money not be large the ve
ume Of To give employment to labor and -
sanitary and other improvements our citisa
counties and States millions of dollars e
bonds all payable at long time in the future About
So $1,000 railway bonds have been issued say
nothing bonds issued by private corporations ana
notes and mortgages executed by of thousands
our citizens The nation result Of the issued
bonds for So TOOOOOOO0 These debts. individual,
porate government, have been made payable fren
thirty days to forty years in the future
We credit people and % cent Of our business
it has been found credit These debts
call for yment dollars They debts payable
in property. property must be exchanged for del
| lars with which to discharge the debts
Failing prices require and property to pap
the debts debt contracted late 1884 for S1,0ou
could been paid had wheat not declined in value
from that date with 900 bushels of wheat. with
the declining value wheat in exchange for gold dol
lars or equivalent requires 1000 bushels
wheat pay the debt of 81 OO0 The effect In connsca-
ton of the property OF the who executed the
for 81 OOO unless he by extraordinary TOLL and
capacity OF his farm raise the 1000 bushels 81
| wheat.
With falling prices. the merchant with goods his
purchased six months prior. has had to mark
down his prices to meet the prices Of his competitor
who purchased goods yesterday. Manufacturers whs
purchase material as long twelve months before
turning the finished fabric have found that falling
prices have away the profits they would otherwise
have that through long of falling prices
have been compelled contract debts they
otherwise would have had Ito incur II the mers
chant had not marked his goods meet falling
prices would have been compelled 20 to HE
bank to money. II it had been for falling
prices and resulting depression in business taxes
would have been collected that have been shrked -
gone delinquent and cities. States and counties woula
| not have had issue bonds to borrow money. (Ap.
parHeO
The result that debts have Increased
The debts country national State county munies-
pal corporate and individual in 1873 about $1,000
OOOO OO They concededy $50 600 900 600 ana =
much and impartial estimate n 80
COO At $50 600 what does 1t some
idea may DE 1orcu or their magnitude Wnen say thet
total assessed value OF all the real and personal
property United States by the of 1890 n
little over $24 100000 We in debt, q people -
the money lenders than the total value
of all property. The fair cash value ESTIMATED a.
and personal in the United States y
OOOOO0 1t is fair that all that property
sold under the sberis hammer for cash would mere
than pay the debts OF the country.
We naturally, prosperous nation this rreae
evil OF rising price Of and the falling price q
property gradually brought condition thst
is exciting the apprehension of all good citisena
What Is the effect? What Is the effect enhance6
value money-tbese dear doars-and the inn bIitv -
the producers of wealth and the property -
exchange their products and property for money win
which discharge their debts? What In rna eIacx