Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1897-12-22

provide the gold; and If he has not got
it in hand he must go to someone who
has, and arrange with him to exchange
his paper, silver or commodities for it.
We may be assured that whatever our
currency is, there will always be
plenty of exchangers of money who
will be supplied with all the gold nee
other countries, whether those coun-
tries are on gold, silver or bimetal1ic
basis; and the rate of exchange will be
published just as it is today. AT the
present time a European merchants
draft on a merchant in this country is
presented to him payable in pounds,
sterling, francs or marks, and when
he pays it the current rate of exchange,
which varies, is ascertained, and he
pays currency to his bank for the
draft, and the bank RENTS currency
to New York, where the change is
made. So it will be when the free
coinage of silver is established. 1t
should be remembered that gold is not
RENTED to Europe for these drafts,
but bankers in the exchange business
in New York receive drafts from
Europe for collection, and send drafts
there for collection, and it is only the
difference in the total amount which
is RENTED. When the balance of
trade is with this country, as it is
largely now and likely to be for some
time to come, gold is due this country,
and when the balance is against us,
gold has to be paid to settle the differ
ence.
Great Confusion Has Arrsen IN Re
gard to Money.-Through the action
| of capitalists, there has arisen great
confusion of ideas in regard to money,
| which confusion did not exist a few
years ago. A new set of people called
"go1d standard men, or "monometal-
lists" have sprung up, who, instead of
desiring the money that has been used
for generations, wish to reduce it to
one metallic money (gold); and not
withstanding the fact that the con-
stantly charging trade of the world
requires far greater capital than it
ever did before, they wish to contract
it by destroying half the money.
Historic Teachings. History teaches
that contraction of capital inva ria bly,
produces adverse and distressing
times, while an abundance of money
creates prosperity. have not long to
dwell upon this, but think it advisable
to give hasty review in confirmation
Ancfent ROme.-Through the vic
tories of her generals, Ancient Rome
received vast wealth, which is estimat
ed to have amounted to about ST., $50,
! 600, 900 at the time of the death of the
Emperor Augustus. This large amoun
of money was circulated, and caused
prices of all commodities to advance
throughout the Empire, and especially
in Italy and the countries nearest tn,
capital. This period, about the time
of the birth of Christ, has always beer
known as the "Augustan PERIOD" anc
ments in art and literature. AS tn,
operations of the mines, for reasons
l cannot inger to explain, were dis
continued, the stock of money gradu
ally wore away during the next eigh
hundred years, until the amount il
the then western world was reduced t
about $3.50, $1,000, or about one
eleventh part of the amount This re
suited in distressing conditions, which
stagnated and reduced prosperity t
its lowest ebb. This period is terme,
the Ozark Ages"
Fifteenth Centm,y.-At the com
mencement of the fifteenth century
Mexico was conquered, and the silve
mines begun to pour forth their wealth
as was also the case with other Amer
can mines. The immense annua
yields of the combined mines were i'm
ported into Spain and Portugal, an
speedily circulated as money int
other European countries, causing
general advance in prices, especia1l
uSdI lOWHS, IOI d pSI1OO OF ABOUT II
years. This set the wheels of com
rnerce revolving and enlarged tn
areas of trade, but after the tim
stated the constant annual increase O
money was couuterba1anced by it
general diffusion over large district.
, Waterloo Peyi0d.-Coming neare
our own times, we find that about on
, hundred years ago great devastatin
wars prevailed in Europe, whic
caused such Apprehension that the pee
pie were led to hoard large amounts c
gold and silver. This resulted in tn
English Parliament ordering the ban
of England to suspend specie payment
in 1877. Notes were not then 1egs
tender, but through the action of tn
government in receiving them for a
dues, they attained such favor thu
time not only did notes remain at pa
/, with gold, but they actually bore
small premium. Large issues of ban
paper continued, which increas
caused great prosperity through or