New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1896-04-08
A Few Authorities on Money.

Montevideo Leader: Many newspa-
pers and people have been arguing from
the false assumption that the commerce.
al value of commodities is in no way af-
fected by the amount or volume of mon
ey in circulation and that it is therefore
no injustice to the debt-paye7, the pro-
ducer or the laborer, to strike down one
half or one third of the money of the
nation, as was done and is being done
through the demonetization of silver.
To disprove their arguments we give
statements from the following acknow-
lodged authorities:
''The value of money IS in u,:. inverse
ratio of its quantity, the supply of COM
modities remaining the same.''-Sir
James Graham.
''The exchange value of any particu-
lar coin will vary in exactly inverse IA
ito to the variations in quantity of tie
aggregate" PROF. Sedgwick.
''The value of money, other things be-
ing the same, varies inversely as It's
quantity, every increase of quantity low
ering the value, and every diminution
raising itata ratio exactly equivalent. -
John Stewart Mill.
"The value of money in any country
is determined by the amount existing.
That commodities would rise or fall in
price in proportion to the increase or di-
mlnution of money assume as a fact
that is incontrcvertible." ."-Ricardo.
"In whatever degree, therefore, the
quantity of money is increased or di-
minished, other things remaining the
same, in that same proportion the value
of the whole and of every part is reci-
procallv diminished or increased.''-
James Mill.
''If the quantity of gold in country
| whose currency consists of gold should
be increased in any given proportion, the
| quantity of other articles and the demand
for them remaining the same, the value
of any given commodity measured in
the coin Of that country would he in.
creased in the same proportion" ."-Wil-
liam HuskissDn.
''It is not difficult to perceive that it
is the total quantity Of money in circula-
ton in any country which determines
what portion of that quantity shall ex-
change for certain portion of the goods
or commodities of that country. 1t is
the proportion between the circulating
money, and the commodities in the mar
ket, which determines the price.-David
Hume.
"Money, while the same quantity oft is
passing up and down the kingdom of
trade, is really a standing measure of the
falling and rising value of things IN ref
erence to one another, and the alteration
IN price is truly IN them only. But if
you increase or lessen the quantity of
money current in traffic, in any place,
then the alteration of value IS in the
money! John Locke.
'sSupposing the amount of trade and
mode of circulation to remain stationary,
| if the quantity of money be increased,
its value will fall ana the price OF other
commodities will proportionately rise,
as the latter will then exchange agaiDs..
a greater amount Of money; il, on the
other hand, quantity Of money be redu-
ced It's value will raised and prices in
corresponding degree diminished, as
commodities will then nave to be ex.
changed for a less amount of money
In whatever degree, therefore, the quan.
tity Of money is increased or diminished
Eother things remaining the same, in thai
proportion the value of the whole and q
every part is recipr rocally diminished O
increased American Encyclopedia.