Freeland tribune. (Freeland, Pa.) 1888-1921, 1896-11-30
QUANTITY OF MONEY.
It Has Everything to do With a
Nations Prosperity.


The per capita or quantitative
theory of money always bothers the
goldites and they dismiss it with
reference to gold figures and sneer at
their opponents. 10 deny that the
prosperity of country depends large
ly on the quantity of money is to deny
history. Locke. Ricardo, Lord Aver
stone, John Stuart Mill and Jevons,
all men of undoubted scientific knowl.
edge of the money question, substan-
tiate the quantitative theory of money,
that the quantity of money regulates
prices, and hence business prosperity.
There was moro money in the country
per capita before 1878 if the gold men
count all the money that was actually
legal tender. The per capita was over
$50.
But that was not all. In 1878 and up
to 1875 over So, 900, 900, 900 of silver,
the worlds supply Of silver coin, was
made dependent on gold, and just that
much actual or primary money, hall
the worlds supply, was wiped ont OF
existence. So great was this sudden
contraction that disaster followed.
The actual per capita OF the United
States to-day is NOT AS LARGE AS II WAS
IN 1878, even accepting the goldite
figures. In 1873 it was, according to
their figures, $18.0l. To-day. when
everything issued with the stamp oil
the Government upon it is dependent
on gold, there is but 5000, 900, 600 Of
actual or primary money in the coun.
try While silver WAS legal tender
it was Disseminated against by the
Cleveland administration, and il
IS NOT legal tender now. There is
only about $3.50, 000,01 in gold il
actual circulation counting the re-
serve. That means that the per capita
of money, basic or primary or actual
money, the only kind that is wanted
in the worlds business marts, Is only
about 50 PER CAPITA. This is logical,
and the hard times Of the present ara
proofs of the contraction.
There are two other fallacies that
the opposition colde as facts. One
is that the Government stamp has
nothing to do with the VALUE Of
money. Ask your gold friends what
| is responsible for the recognition OF
token money as medium OF exchange.
Government has fixed the price of gold
and the exchangeAble price of silver.
They claim that Divine law has fixed the
price of gold. Then the English Houses;
of Parliament, the German Reich,
stag, and the American Congress have
fearfully transcribed their preroga,
tives. And Incorporation speakers
may bear this fact in mind: BY rid,
iculing economic facts with egg, baby
and cow arguments they cannot con.
vince unprejudiced men.
Another pertinent feature OF the
question, and one that ought to sat.
isfy the goldites of the precariousneBs
of their position in this discussion, is
the bond purchasing fact. If the
quantity of money has nothing
to do with the prosperity
or stability of country, Why
did President Cleveland issue
bonds to get more money? Why did
he increase the country's debt by
$2G2, 100000 when the quantity OF
money has nothing to'do with pros.
perity or stability? DID he do it to
give the Wall street syndicates enor.
nous profits? Did he do it to enrich
syndicates at the expense of the people
of the United States? The DEMOCRAT
does not believe it. And if he did not
do it for that purpose then he did it
30 INCREASE TIE MONEY SUPPLY. Why
do not goldite and Republican speakers
talk facts3 Because they would con.
vict themselves of upholding the most
pernicious fallacy that was ever foiste6
upon a, people. Madison IN. j.,
! Democrat.