The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-09-19

WOnder-"i wonder III THIS WIZ DO
the Enect''-"I Wonder u That Theory
IL Right" Etc. Etc-
Having all these ideas forced upon us,
1t is not strange that one should dream
them over again in his sleep. i had an
| went 10 bed with the
old delusion in my mind more money
per capita" The same idea that induced
John Law TO experiment with the
finances of France, an experimentwhich
wrecked the country, and caused untold
misery and poverty, and DIR. Chamber.
lain to introduce his famous land bank
scheme into England. The same SEN
timent that caused the people OF the
Argentine Republic TO manufacture
more money for their people. Theorists
for all time, as far back as history goes.
have accepted in hard times the state
ment; 1--WE need more money per cap
tia; this will increase prices; this will
be n panacea for all our ills; every body
will be happy" And as dropped away
into "tired natures sweet restorer,
balmy Sleep" the last thing thought
of was more money per capita, higher
prices, how will this give me more
money? etc, etc.
The amount OF our money for every
man was fixed in my mind as S24, and
upon this basis my imagination began,
and, as my mind wandered in dream
land, connected the amount OF money
with my business, the produce eN-
change, and as 50 much is said about
wheat, and the low price OF wheat, this
commodity demanded my first atten
ton.
l thought that one-half the people OF
the United States had left for other
countries, becoming Disguised with the
silver craze and the theories offered,
and that foreign commerce was shut on
entirely; that other nations would not
do business with us on account of our
disregard for all economic laws. With
one-half OF our people gone, the per
capita circulation was at once doubled
so that we had $4s for each individual.
was happy. / felt sure that the free
"silyerites' theory OF more money per
capita would Increase the price Of
wheat and all reduce, ard my fortune
was at once doubled. But found, on
the contrary, that one-half Of my con-
sumers had disappeared and that prices
had gone down. Then / began to the
orize. / said 10 myself: Suppose that
our population was doubled and the
circulating medium remained the
same; this would give every indi-
vidual only sig per capita on the
above basis; but with twice as many
people to consume wheat. How would
this affect prices?" l awoke only
TO hear the same old cry: 'More money
per capita. free silver sixteen 10 ono,
down with monopolies, etc, and in the
grim distance ] heard some one say
something about the 'crime OF 1879"
The amount Of money we have has no
more to do with the prices OF commodi.
ties than the number of yard sticks we
have has to do with the length of a piece
of calico, or the number OF pound
weights we have has TO do with the
weight OF McGuiness' pig. or the NUM-
Der OF bushel baskets in this country
has TO do with the quantity of potatoes
the farmer has TO sell.
When everybody is working and
everybody consuming normal amount,
and the spindles of industry are hum
ming. and the furnace is in blast, com
modities are rapidly changing hands;
with confidence business is active, but
without confidence there is not enough
money in the world TO conduct the
business OF the United States or even
pay the daily expenses OF the people
who must necessarily under such con-
ditions be idle.
France has a per capita circuld ton
of $50; Italy only $40. Upon the theory
Of larger circulating medium for each
man making higher prices, there ought
&c he great difference in the values
Of commodities in these countries but
the prices are about the same. England
has less money per capita than Frsnce.
Many things are cheaper in Paris than
in London. In our business here have
seen everyone more prosperous than
they are now, when we had much less
money per capita than we have to-day.
The office of money is quite generally
misunderstood. IL constitutes wealth
IL our property happens TO be in money.
but IL is more often used In the sense
of the yardstick, that of measure.
The wealth OF the country consists OF
lands, improvements ind merchandise.
Money possesses an indefinite repeat
ing power. IL is too often compared
with commodities. These ultimately
reach the consumer and disappear en-
tirely from the market, while money
can be used over and over again, one
dollar being able 10 pay a thousand
dollars worth of debts IL used tfou-
sand times, and after il has done this
IL is capable OF continuing on forever
performing the same function.
A farmer would consider his intelli-
gence insulted II the vender who cold
bushel baskets should tell him: you
need 100 bushel baskets 10 measure
your potatoes, because you have 100