The climax. [volume] (Richmond, Madison County, Ky.) 1887-1897, 1896-10-21

which is made legal tender tor suci,
purposes then in circulation W II deter
mine the value of that money, aiidthere
by the value of all commodities and
debts ? If harvest hands are few you
have 10 pay more for them. II dollars are |
few you must give more wheat, more |
cattle, more labor to get one OF them.
The size of the dollar does not change,
but il is the wheat iD the sack which |
rises higher, and it takes COW to bring |
what should have been the price OF a
calf Does not then the value OF dollar
depend upon how many dollars of full
purchasing and debt paying power there
are in circulation? Is not tile value OF
money, like the value OF everything else
in this world, regulated by tile law Of
supply and demand? Economists agree
upon these ideas. Suppose there was
only one hundred thousand collars OF
legal tender money in this country with
which to do all of it's business. Would
any one claim that such a dollar was an
honest dollar, dollar containing one
hundred cents in silver or gold? While
the size and impression of this so-called
honest dollar would remain the same,
would not its value as measured in
wheat, cattle, labor. ETC., be equal to
what ten or twelve THOUSAND dollars
should be? Then, how much money
have we in the United States in circula
ton? Have we enough If not, how
much more do we need? If we need
more how shall we get it?
In the circular issued by John G. Car
Isle, Secretary of the Treasury, July 81,
1896, it is there stated that there is
circulation per capita for the year 1896
of 81. 10 and that the population Of the
United States is 7l.39OOO This Is of
every kind of money, but there is no
such amount in circulation. But for the
sake of argument admit that there is.
What is the most prosperous nation in
the world to-day? 1t is France. Mr..
Carlisle states in the same circular that
France has per capita circulation Of
$35.77, therefore, We should have TO add
to the volume of our circulating money
over 100000, 600 to make our per capita
circulation equal to that OF France. If
S35.7 be a good thing for France, would
it not be safe limit to which this couu-
3 y TaTse its per capita circulation =?
And we need it now. When our popu-
lation and business further increases we
shall need more. We shall have to in
crease the capacity of our MINIS to coin
this amount of money within such time
as to make any preceptible change for
the better in the depressed financial con-
dition of our country. This can be easily
done by increasing the number of minis,
for if We should coin an amour. equal to
what the Sherman purchasing law at
tempted to add to our currency, viz:
fifty-four millions year, it would take
16 years TO increase our volume OF cur
rency to as much as we need now. By
that time the increase of population and
business might require as much more.
There never was enough money in the
history of this world. No one need fear
there will ever be too much. The oppo-
sition of those who are interested in
keeping it as small in volume as posi-
BILE will always be sufficient to keep the
people of any country from getting as
much as they need. Comparison is often
made of the conditions in Mexico with
those of the United States. It can not
be claimed that any financial system can
absolutely change the character of any
civilization. 1t would require a great
many other things to make Mexico as
prosperous nation as the United States,
but it is true that Mexico is more pros
porous to-day than ever before in her
history, although she is doing business
upon an imperfect bimetallic standard.
The influence of a volume of currency
upon the prosperity OF her people will
also be seen when it is ascertained from
vi thC SOIiCteiN VI tuC
ury Just quoted that her per capita circu-
lation in all kinds of money is but S4.95.
You can accurately ascertain the pros
perity of any civilized country in the
world by its volume of circulating money.
The per capita of gold in the United
States according to Mr.. Carlisle's circular
is SS.4l. This estimate is questioned and
by many denied as being too large, but
for the sake of argument let it he admit
ted; and if the values OF all commodi-
ties, of labor and OF debts shall be esti
mated by the amount of gold which We
have in this country, as those who advo-
cate the gold standard propose. one can
readily see what will be tile disastrous
effects upon the producing interests of
this country until We shall return to the
money of our fathers, the money of the
Constitution and which was favored by
law down to the year 1878.
SOUND MONEY MAN.