The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-10-08

fore 10 does not matter whether tnefe ~
much money or little money. But these
people lose sight of two things. First, that
after all these checks, drafts, bank notes
and other substitutes for money rest on
money. Every one admits that You must
have some money, even though IL he lit
tie, 20 base these things ON No man has
yet claimed that you can do away entirely
with money and use these substitutes and
get along. This being so, N necessarily fol-
lows that there is limit to the amount OF
credit which dollar can carry. That Is,
there Is a limit 20 the amount 81 the
drafts, checks and bank notes that can he
based upon dollar. II this were not 80,
then II there were only one single dollar in
the world all the business in the world
could be done on credits based on that one
dollar. But there Is n limit 60 70.
Credit Rests ON Money.
The second thing that is lost sight OF by
those people Is that the enterprise, indus
try and business OF the world IL always 80
great that IL exceeds the credit which
dollar can carry. In other words, the en-
terprise, the business and commerce OF the
earth are always carried to the uttermost
point possible. They load every dollar mp
with all that it can carry, and therefore
der this load certain part Of the load
must come down. When the amount Of
checks or drafts il increased, does 1t not
release u certain amount OF money and
cause II to lie idle. The enterprise OF men
win Immediately reload all the money that
is 10 released with every bit Of credit 1t
oan carry. That In always the condition OF
the commercial and manufacturing world
In prosperous times IL therefore follows
that when you reduce the amount OF mon
ey In the world under these conditions 10
IL a much more serious matter than 10
would BIO If there were not these checks,
drafts and other evidences of credit, be-
cause YOU destroy not only the given
amount OF money, but you pull down ~
much Of the whole fabric of creditor husi-
ness, II you please, which has rested on
that money. So when you increase the
volume Of money. you not only make IL
possible To increase the amount OF busl-
ness in proportion, but you make IL posi-
BILE to increase the business go times as
much as the actual increase In money, be-
cause every dollar of money will again bs
instantly loaded with credits.
Opening the MINIS VIM Increase Credits.
Therefore we say that opening the minis
to silver will add 60 the stock OF primary
or legal tender money, and this will again
be loaded with credits which will make
possible an increase Of business 90 times
as great AS the increase in money. We
sometimes hear II asked, How will you
get that money into circulation, OF what
good will this increase in money do you II
you have not anything to get it with, II
you have no property or any collateraH
That question Is purely American and
shows that in some things at least we arc
vet new.
How Money VIII Get In Circulation.
1t needs but moments reflection TO see
that the additional money will get into
| circulation Just as the money that Is In
circulation got there, and that whom men
| again coin silver bullion into dollars or
| get certificates for IL, which are legal ten
| der, which can DO used In paying taxes,
| which can be used In paying duties mt the
| custom house, which can be used In pay
ing debts, they are not going to let that
| money lie idle because it will not make 1t
| profitable any longer to have IL So Money
| will cease approaching In value then, and
they will go to building houses, building
| shops, building railroads, Misunderstanding
and doing business; they will start activi-
| ty In 200 channels and / 900 fields That
| will be tho result. There will be an I'M
| mediate demand for brains and muscle
There will he an immediate demand for
| engineers, for skilled men, for clerks, for
mechanics and for day laborers, and In
stead Of laborers being Obliged to tramp
| around over the country In search OF work
which they cannot find they will be sought
for at their homes and requested TO come
| over and 20 to work. The man who has
Il 20. al hia ccla tytll nn6
market for that muscle The man who
has nothing to sell except skill will find a
market for that knowledge, and very soon
the whole community will feel the vivify-
ing and the electrifying effect OF an In
crease Of blood and vitality In Its veins.
Other Statesmen.
| Iwould like to read to you the language
Of Mr. Goscben, great banker Of London
| and late chancellor Of the British ex-
chelucr, one Of the great statesmen and
hnanciers Of the world today. 1 should
like TO read 10 you the language Of Mr.
Clifton, the statistician of the British board
Of trade. should like to read TO you the
report Of the royal commission on gold and
silver made TO parliament In 1888. I
should like to read to you the language Of
number of other great economists and
flnanciers, men who for years have been
assisting In the management Of the
worlds affairs, who for years have had
their finger upon the pulse Of the COM
| MERGE and the business Of the earth, who
have watched the circulation Of it's blood
| and have felt It's heartbeats, men who are
| not theorists, hut who are first students
| and then practical men, and you would be
| astonished to sec how their views are all
In accord upon this great question They
hold that the law Of supply and demand
does apply to money. They hold that
when the governments by law dsmonetize
silver or wipe out any other actual money
the governments thus by law reduce the
worlds supply Of money. They hold that
when the governments adopt n gold stand
ard and make II the only legal tender
money the governments by law increase
the demand for gold, because by reason OF
the law moro people must thereafter have
gold than formerly had to have IL.
Increasing Demand For Gold.
The work that was formerly done by
silver has thereafter tn be done by gold,
and the necessary consequence OF this Is te
increase the Importance of gold, TO double
the number Of people who have 10 have
it, and In the end double the purchasing
power Of the gold dollar. Now, we insist
that In harmony with the worlds basi,
law of finance, In harmony with the en-
tire experience Of mankind, In harmony
with the expressed views OF the great
est statesmen, living or dead, the de
monetization Of silver doubled the pur
chasing power of gold, so that IL tool
twice as much of the products Of the earth
60 get gold dollar and pay debt or PAL
taxes thereafter, twice rs much labor as i
| formerly did