The commonwealth. (Greenwood, Miss.) 1896-1923, 1897-07-29
Old and New Gold Floods.

We give below III ideal argument OF a gold mononet0Ntt In thsth'lan
tiive theory Of money Is admitted and hlo denied Incra~ the money Supply
and trade and commerce ia stimulated, business t"Vomo active and rmrn'ia
tive speculation is encouraged and prosperity prevails When 'ht intrrS~ 80
tn. money supply ia Sudden and excessive it may stimulate too much Men may
lme their rea.ona and go ID erces hut TINT Ices ni cuDfr'yrri The ~1rHNhf prn
cple Read what the New Orleans Pesyunr has Ia @N
The reported rchne.. Of the gold mines Of Alaska aud British Ameta nr
Of the boundary line. between both countries h. given MS Ia many I@culnuors
a. o the effect % finance and business generally that " likely "a u" produced by
It has wildly been stated that the o, pnt d the Alaska mines VIII soon b" a.
mn china a.. !" arg T thr S Sa = II H. country mt II VIII r. VIII in an. d.
cu~don of thi. -uhic, to- consult the history Of the past ,,t.-
nj. .S,, an, NJ , An;'f a 4. T Ts .i i.sss y ot IL iS' in IN H @5 ts 2ai Ts sm """'" on .,a q 10,
Isl the praiuct eIuaird .s'@asn in is2 it reached salas'"9 aud in t.a
y Yearly fy gold product Of California never fl f-@w t@SH"o ,,
s.co n,%ss' at S .S s %, W. %ai n"'H Ana,unM Il" in February ISL In lSs III pr"
duct Of the mine. there wa. tl"l""eo Will" 1t fell OIL after that tn" ont
y" The sf%ve figure. given are from Del Mar. History Of the Precious Metal
London 1850 and ARE derived from the official records Of tn" s"yerm@"nt mint,
into the aaane., Of the world from California and Anr rain lw., g sl l Is than
obtained from Russia, Afnca, Mexico Central and south America i very r"
The fact. are that, mor than thirty years ago when the population Of the
United s,atc.w wa only a,out 20 n,W 900 souI. instead Of 10000 900 AS itts toby
% . t"n sn% Observation-Disclosures Sn sa"ct Upon the business and institutions Of t.
or any other country. OF course such n sudden addition to the money Of tn"
United State. "timnlat"i speculation enormously ma tn' went on until it re
suited In n collapse which cam" in 1887. while tn g1'h"d Hd" va" beng poured
The financial panic Of 1857 was most memorable The state bank. for then
there were no treasury notes aud national banks had made immense issues
msnds uron debtors fn payment there was aloa rush upon the banks by note
holders who wanted the banks to redeem their notes with gold. In spite Of the
yellow coin with which to redeem their notes aud they all closed their door
hating ."cni.uon witch viii go on until the Inevitable collapse shall %cnr
Intoxicating that men seldom learn enough in one financial rni, to S'" them
"lvs- in another After every boom comes a reaction, ad there has never been
/. sudden t.o IT confidence People who ar"oppre~"d by their creditors sudden
Md i tmGH-tlls +" raj" money rom n They S r%"ld iny% got IT., it. Yesterday :. Ipors3als%
t"n6denc" h. Ind thc bottom knocked ont by ~ome sudden blow aud s." the col
WIN new food Of gold produce any different result Their, Is M reason "a
expect it business is governed by il own lawa They are made by the agree
not ~ changed by any sudden ane or occurrence /,