Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1898-06-10
A MISERY PRODUCER.
SUCH is CONTRACTION OF
The CURRENCY.
Better Times Always Follow Expansion
An Effort Must BE Made for u Moro
Scientific Money SystSn-Rumor OF
Greenbacks Makes Good Times.

A constantly increasing volume OF
money is necessary to supply the in
creased demand. arising from the
growth of population and business. A
decreasing volume Of money. as COM
pared with the demand, is disastrous.
1t compels the debtor to pay in dearar
money than he undertook to pay when
he entered into the contract. 1t dis
courages enterprise, because property
produced or acquired by the invest
ment of money declines in price. and
thus the probability Of profit upon any
venture is diminished. When money is
advancing In value, or, what is the
same thing, is increasing in purchas-
ing power, the human instinct of gain
induces investments in money. Such
investments are made by exchanging
property for money, with purpose TO
hoard it. or for bonds and other cred
its, which are investments In money
futures. Investments Of this charac-
ter do not create wealth. but absorb
wealth already produced.
When prices are rising, the same In
stinct leads to the acquisition Of prop
erty. Property is acquired by pur-
chase, and by production which results
from the employment Of labor. The
employment of labor in production is
the source Of all wealth and prosper
ity. Spectators Of every description.
including dealers in money, in the Ian
guage Of Wall street, go long" on
those things, whether property or
money, which are rising in price or
value, and the competition to acquire
reliable money futures has been so
great as to induce people to accept very
low interest, in view Of the prospect
Of an increase in the purchasing power
of money invested. The decline Of
prices has been SO serious as to induce
prudent men to go short on property
by declining to engage in new enter
prises and by converting their property
into money futures. Enforced idle
ness, produced by the enhancement o.
the value Of gold, or what is the same
thing, the fall of prices, has withdrawn
the progressive and the ambitious
from productive undertakings, and has
led them to seek wealth by investment
in money futures.
An infinite variety of causes affect
progress and prosperity. Wars, pesti-
lence, famine and bad government, are
common Affections Of the human race.
Pi,t IN tho ahcopca of Upowp afd
great calamity, contraction of the cir
culating medium is the only instru-
ment Of universal misery. No form of
civilization or government has been
able to withstand it's blighting influ-
ence, or to survive its long continu-
ance. The unlimited use of gold and
silver under present conditions would
rescue the country from pending dis
aster, and, II the mines should contin-
lie productive, would secure a prosper
Gus future. II, says the Silver Knight
Waterman, ignoring well-known facts,
such as that the quantity of gold coin
In existence is constantly being re-
duced, through abrasion and loss, and
that there is no reasonable prospect
of future production Of gold more
than sufficient to supply the arts, the
money powers shall continue to r.sist
the restoration Of the automatic sys-
tenn and to insist that the volume OF
money of ultimate payment shall be re-
duced to the narrow basis of existing
gold, an effort must be made to secure
a more scientific money system, which
would dispense with the use Of the
precious metals altogether.