Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-03-01
"EASY MONEY"


To the Editor of the Register.
Sir.-Your editorial Saturday with refer
cnce to the idle money now boarded IN
the banks and elsewhere is very appro-
pirate indeed. Many people persuade
themselves to believe that easy money.
"a the so-called wise fnancicrs call hoard
ed money. is the forerIuuer immediate
or otherwise. OF prosperity, This now
ever. is an erroneous belief, because
money boarded under existing conditions
is the very reverse of easy In fact,
the boarding OF money. which withdraWs
il from circulation. is indisputable evidence
Of stagration in commerce. The effect OF
boarded money upon exchanges Is some
thing similar 10 an unnatural interference
with the circulation Of the blood in the
human system. II produces staGnalon.
Why do the owners Of boarded money
hoard it or permit it TO lie idle? Why do
nor the owners of this boarded and idle
money exchange it for the products of
labor? All thereby hangs a dolefui and
sorrovful tale to unfold. The reason is
Main 10 all intelligent and unbiased stu
dents Of the money question. Money
through the appreciation of gold, has been
rapidlv rising in relative exchange value,
as compared with the products OF labor
tsince the demonstration of silver, IS
now gradually rising and will continue TO
rise gradually until god reaches an equa-
ton between supply and demand in rela-
tive exchange value as compared with
the products of labor or commodities.
Rising money makes money naturally the
object Of commerce instead Of the beneh-
cent instrument. as. under these condi-
tons. everybody wants money TO hoard
because it is rising in exchange value as
compared with the products of labor. No
body wants the products OF labor, except
as necessity requires because they are
falling as compared with money: therefore
money is withdrawn from active circula-
ton and boarded Where H. will exercise no
influence on general prices. The intelli-
gent owner of money will not exchange 1t
FOR the products Of labor except as neces-
sity requires. on account Of these condi-
tions. the effect of which is TO limit eX-
changes to the actual economical neces-
stiles Of the human family, az the human
family must exist under any condition.
The owner of money however will glad
" loan il at low rate of interest. pro-
vided ample security is given, because the
character of the investment by so doing
is not altered. as the borrower agrees to
return the loan IN money; but the Dor
rover cannot afford to borrow rising
money ard invest il any more than the
owrer can i'm the products of labor, which
are falling as compared with the borrow
ed money Consequently, as a result. we
have the existing stagnation in business.
which stagnation will continue If the gold
standard is continued. until gold reaches
an equation between supply and demand
in the system of exchange value; there
fore. the demand for the products of Ia
Dor is limited to the actual economical
necessities Of the human family. the limi-
tation of which demand causes the supply
Of labor TO be largely in excess to the de-
mand for labor, and any one knows the
result These conditions are doing ire
parable injury TO the laboring masses,
and is fast reducing them to a system Of
industrial slavery. all of which will be-
come more apparent later on if the gold
standard is continued. as the gold stand
ard is just beginning TO get in its cruel
and hcartless work. The reconciliation
of silver would reverse these conditions
and would cause prosperity TO return to
our people as never before in the history
Of this country. because the effect would
be to reduce gold which is now the unit
of value. I'm relative exchange value as
compared with the products of labor to
an equality with silver, based upon the
metallic standard rs it existed prior to the
demonstration of silver. Tho reduction
of gold in exchange value to a bimetallc
standard would cause all money to fall
as compared with the products of labor
as everybody then under these conditions
would naturally want TO hoard the pro-
ducts Of labor instead of money because
the products Of labor would then be rising
as compared with money. and when a
healthy. natural and unlimited demand is
thus created for the products of labor for
purposes Of boarding, the results are too
apparent 10 need any defense. No; if sill
Yer were remonetized so as TO reduce the
rising gold. there would not be a dollar,
comparatively speaking, Of Idle or boarded
money. because the owners Of money
would be only too anxious to exchange it
for the products of labor. which would be
rising and in constant demand instead of
wanting 10 loan his money, secured by a
mortgage on the property of his unfor-
tuuate neighbor. Under these conditions
money would become again the beuificent
instrument. as it should be. instead of the
object Of commerce, as IL is now. which
cause it to be boarded and idle. The pro-
ducts OF labor, measured upon the bimet-
allie standard as formerly and a single
gold standard. are two entirely different
propositions. the bimetallic standard, hav-
ing been IN use SO long. has become. as il
were. Il second nature 10 the human fam
lily. consequently the entire human race
are naturally and unconsciousiy resisting
the artificial rise i'm money. through the
. appreciation in gold. and "a corresponding
fail in the products OF their labor. and
only Yield as necessity forces them: there
fore. the exchange from the bimetallic
measurement of exchange value to the
gold standard is necessarily a very slow
process; in fact it viii require years for
god on a gold standard TO reach its
equation between supply and demand in
the minds of the human family. so that
its exchange value viii become approx
mately definite and certain. Everybody's
idea Of the value of the products of labor
is bimetauic. and there is not u living per-
son who has an approximate idea Of the
value Of the products Of labor measured