Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-10-13
PROGRESS AND CIVILIZATION.
Adequate Money supply - Need
OF Our Expanding Interests.

In some Measure Depend Upon an
Adequate Money supply-Need
OF Our Expanding Interests.
Throughout all ages, it win be
noted by the student of history, the
progress of the world has been cotem-
porary with a large yield of the pre-
cious metals from the mines of the
earth, and that progress was suspend
ed and civilization either Jagged or
positively refrigerated at all periods
when the production of gold and silver
materially declined.
The influence of an adequate money
supply seems to have been understood
by the ancient Spartan rulers, who
made their domestic money of iron
| during several centuries, reserving
gold and silver for use in foreign trade
alone. In more modern times the OBJ
iect lessons demonstrating the effect
of money supply have been so marked
| as to impress themselves upon the
minds of leading thinkers, who have
| bequeathed to the world rich legacy
| In the form of able treatises upon the
subject. Following the discovery of
America the impetus that the world re-
ceived through the gold and silver
brought to Europe by the Spaniards
from Mexico and Peru is now gener-
ally regarded as the principal cause
and to mark the beginning of the re-
Nuisance in Europe, and to usher in
that period known as the grand march
of civilization.
It has also been noted that when on
account of wars nations have \ been
| compelled to suspend specie payment
ard create paper money, endowing the
same by law with the debt-paying
power, accepting it for taxes and fore
ing the same upon government credit
ors, that the increased supply of such
money has always stimulated produc-
ton and business and brought on an
era of general prosperity. It has also
been noted that periods succeeding
wars in which the paper money that
came into use during such war was be-
ing retired and the volume of money
in circulation reduced, that an era of
falling prices ensued, causing great
distress, limiting production and MAX
ing 1t difficult or impossible for those
in debt to discharge their obligations
and save their equities.
Such object lessons as these have
caused thoughtful people to investi-
gate and discover the influence ex-
erted by an increasing or decreasing
volume of money upon production and
exchange. Investigation soon re-
vealed the law controlling prices,
showing that they advance or recede
as the volume of money is increased or
diminished. In view of the fact that
production is stimulated and the
wealth of the world largely increased
and the sum of human happiness multi
piled as the resultof anincreasing mon
ey supply, and that an opposite result
is produced when the money supply is
being diminished, the question natur-
ally arises, why should not all intelli-
gent men and good citizens put forth a
common effort to secure a regular,
uniform and adequate money supply,
to the end that progress and prosperity
may go on uninterrupted?
The further question suggests itself
with great force, why in this marvellous
age of expansion and development
of citizens representing the various
nations in combination for the pur-
pose of outlawing one of the metals
that has been the source of money sup
ply throughout the ages?
The answer to this question is that if
the nations and states of the world,
and the individuals and corporations
transacting the worlds business, had
not contracted large and enormous
debts to be paid in money, it would not
be to the interest of any class to seek.
to restrict the money supply and
through falling prices give money
larger purchasing power. And it may,
be said that the only class in this ma
ton or any other that profits by di-
minishing money volume is those
whose investments are in money fu-
lures in the shape of bonds and mort
cages, who are unjustly enriched at the
expense of taxpayers and debtors
whose property is being gradually con-
fiscated through the fall of prices.
This reveals to us the money power,
the worlds great bondholders and
creditors, and enables us to under
sind the motives by which they are i'm
PEELED.
Those who advocate the gold stand
ard seek to produce confusion in the
minds of the average citizen regard
ing what is meant when the term mon
ey power is used. They accuse those
who oppose them of seeking to array
the poor against the rich. Nothing
can be further from the fact. Among
the ranks of the bime tallists are many
who possess enormous fortunes, while
the large body of intelligent bimetal-
lists are men engaged in business, to-
gether with professional men, artisans,
and laborers, who either own homes
or are struggling to acquire homes.
On the other hand, the active advocates
of the gold standard are the bond
holding and creditor classes, together
with the banks under their control,
outside of which their principal fol-
lowers are their employees and the
weak and dependent whom they can
control, together with the yenal pol
iticians whom they reward handsome
" for their services in furthering the
selfish ends of the creditor combina-
ton. The money power is world
wide combination working in concert
upon the various nations of the earth.
1t has sought in this country from the
beginning to prevent the money ques-
ton becoming an issue in politics. To
avoid this they sought to control the
conventions of both of the great polit-
ical parties and dictate to them the