Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1897-10-14


available supply, as compared with
the worlds effective demand is, this
year, relatively small. Silver has been
going down, because by legislation un-
favorable to it's use Us money there is
no effective mint demand for the pres
ent supply. In other worda, the Unit
cd States, of all heretofore wheat ex-
porting countries, is the only one that
has an available supply for sale, while
all the heretofore exporting countries,
in addition to the countries that gener-
ally import wheat, are buying in our
markets
Argentine for her 4, 42O, 900 people.
stria-Hungary for 40, OOO,O 900 people.
Belgium for 1862, 279 people.
Brazil for 2O,OOO,OOO people.
China for 300, 900, 900 people.
Denmark for 9,1S5,OOO people.
France for 33,OOO,OOO people.
Germany Tor 5O,OOO, 600 people.
Great Britain for 40, 100000 people
Portugal, Russia, Spain, Switzerland,
Sweden, Greece, Turkey, with their
vast populations, are all seeking food
supplies in the United States, while
India, with population of 2ss, 900, 900,
of which more than 100000 have
starved to death in the last few months,
is looking to the wheat-growers of this
country to supply food to prevent the
absolute starvation of 100000 900 more
of her people For the lack of wheat
enough people this year in India have
starved to death to populate eight such
states as Kansas as thickly as Kansas
is populated to-day. Crop failure in all
the countries mentioned, potato-rot in
Ireland, and famine of the direful
character depicted above and graph.
cally pictured in Julian Hawthornes
articles on "Starvipg India" in the
July, August and September numbers
of the Cosmopolitan, have produced
the rise in the price of wheat; and
these conditions are the results of the
seasons
In the last few months statutes have
struck down silver in South American
republics, Japan, and other countries,
and put gold in its place, thus creating
new demand for gold, and doing
away in those countries with the mint
use or demand for silver-by statute
increasing the demand for gold, and
by statute decreasing the price of sill
yer.
Money is the creation of law, statu-
tory, man-made law; and it is such
law, and that only, that has given
gold its present statutory, false and
fictitious value, and forced silver from
the minis of the world
There is no national money, and
there is very clear distinction be-
tween the terms "dollar" and "money."
The dollar is legalized, invisible ideal
unit of accounts. Money is legalized
visible token used t otransact exchan-
ges and record debts in the various units
of account. The dollar is one thing,
but the money that represents the dol
lar is another thing; but each is a Gre
alton Of law.
There are about four billion dollars
of gold coin in the world. OF the gold
annually produced about so millions
dollars worth is used in the arts and
industries for filling teeth, making
gliding, jewelry, etc, etc; the rest is
taken to the minis
When Germany shut her minis TO
silver she gathered up her old silver
e-in and sold itas bullion in the indus
ial market, and the same treatment
now being given, in certain sense,
to silver by many other nations. Sup
pose the mints of the world were to be
closed against gold, and that the ma
lions of the world were to treat their
gold coin as Germany did her silver
that is, put 1t upon the industrial mar
ket for sale. Under such circumstances
the only demand that would exist for
gold would be that arising in the arts,
which at present consume about fifty
million dollars per annum; hence it is
that the gold coin now in ex-
istence would supply the arts, at the
present rate Of consumption, with that
metal for about so years to come. IN
der such condition gold would not be
worth not to exceed 90 an ounce. Gold
has but two demands-a natural one
arising in the arts and industries, and
a statutory one admitting It to the
mints, II required to depend on the
nature one, It would be worth, as
stated, about 90 cents an ounce; hence
it follows that in the amount II ex-
ceeds 90 cents an ounce at he present
time. Il il fat, statutory and fctitioua