The Ravalli Republican. [volume] (Stevensville, Mont.) 1894-1899, 1896-02-19


been countcnanccd and expressed by
some Of the highest authorities in
the financial world. Sir Henry
IIuc'Ss Gibbs, a director in the bank
Of England and Il recognized author
ity in Great Britain upon monetary
! questions. before the English COM
mission which met in 1883 To invcs-
tigatc the financial question, when
asked if Great Britain alone could
maintain bimctallism, promptly re-
replied, eyes or any other great
commercial nation"
The United States is the greatest
producing nation on the globe In
| its products consists it's wealth.
From it's products its obligations
must be paid. Their value measured
IN gold (lnd all values in the United
States are now measured in gold)
must Of necessity lc great or small
according as the supply OF the meas
urc Of value is limited Or extensive.
The year 1895 has added to the
worlds supply Of gold about 5000,
O00 900. Or this amount about -
per cent has been used in the arts
and in supplying: lie losses from ac-
cunllutch stock, ni .snld. Therefore
|
there has actually been added to he
gold currency Of the world in the
year 1895 about $50, 900, 600 The
population or the world is about
| 800. 100000 Of people. Therefore
there has been added to the world 8
stock Of gold money about 3! cents
per capita for every man, woman and
child. The increase in the gold cur
rcncy, it will be observed, has not
and can not possibly keep pace with
the growth Of population. the growth
Of industries, and the consequent dc
mand for sufficient currency for the
successful transaction Of business.
can understand how Il great con
suming nation like Great britain.
absorbing the surplus products Of the
world, should lyc interested in dcprc-
ciatiny the price OF those products
by maintaining q constantly app:"-
ciatiny standard Of money. But it
is difficult for me to understand Nv
what process Of reasoning gentlemen
are able to convince themselves that
4 producing nation, any more thar
an individual producer, can possibly
be interested in lowering the value
Of the things which constitute its
fund Of wealth. 1t is not the token
money Wnicll is lhc measure OF value:
IT y NE money Gt u1L1llulc IcOcllp
ton.
Under our Constitution that money
is cold and silver: under the law anC
its administration gold is the stan
dnrd and all other money is token
money. 1t is Il rule OF monetary
science which | presume no gentle
man will dispute hat if YOU double
the supply of money (and when | say
"mnncN" | mean standard money
YOU double the value Of the cumnyu.
ditic> Wlln>c value IS measured il
money.
y statement va, made some tim,
ago, about Il year ago, in the New
York Trib that the values U
railroad stocks had deprecated il
: the previous two years about 81 900.
600. 1t is not wonderful that lhi>
, is so. What gives to railroad stock:
their value? The earning capacit'
Of the road. What gives caruin!
capacity to the road? Tho producing
capacity Of the country tributary t
it. What stimulus is there to tn,
j, farmer, the producer Of wheat. q
corn. Of oats, Of barley. Of cotton
ana ol AlOCh. TO li!oG dnu pll u POI
the market the products Of hi
farms when the prices. measured i,
I gold as they are. are in many il:
stances lcrS than the cost Of prodllc
! tiDI? And Mr. Speaker, in spite o
I the statements and arguments @
{ the cent }clnun from North Dakut
&, (Nr. jGhnSplD yesterday, want t
c say that | know that in my uW
{ state the farmers have been raisin
, crops Of grain without profit, ant
c even 1T 4 loss in many instances
c These figures which are cited her
{ may show Il greater yield per acre
but that may be accounted for b
: the cNccptiO!Ia! yield Of the year @
which the gentleman from Nor1l
{ Dakota bases his argument. AS
c matter Of fact. We all know tina
| many a farmer in our rcSpcctiv
Z stutcS-alld ii is not confined bv an
o mean, to the Rocky Mountain states
I it applies also to the Mississippi Val
! iny states" a!l know that MANY
: farmer las been Of late years II
S more han able to pay the cost {
!, sowing aud harvesting and market
Il inc i,, crCtn. Give ne farmer an