Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-09-15
The Money Power.

Throughout all the ages, it will be
noted by the student of history, the
progress of the world has been contem-
porary with large yield of the prec-
ious metals from the mines of the earth,
and that progress was suspended and
civilization either Jagged or positively
retrograded 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 eentu ries, reserving
gold and silver for foreign trade alone.
In. more modern times the object les
sons demonstrating the effect of money
supply have been so marked as to i'm
press 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 received
through the gold and silver brought to
Europe by the Spaniards from Mexico
and Peru is now generally regarded as
the principal cause and to mark the
beginning of the renaissance in Europe
and to usher in that period known as
the grand march of civilization.
1t has also been noted that when on
PEELED to suspend specie payment and
create paper money, endowing the
power accepting it for taxes and fore
ing the same on government creditors,
that the increased supply OF such
money has always stimulated produc-
ton and business and brought on an
era of general prosperity. 1t has also
been noted that periods succeeding
wars in which the paper money that
came into use during such wars was
being retired and the volume of money
in circulation reduced, that an era of
falling prices ensued, causing great
distress, limiting production and max
ing it 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 investigate
and discover the influence exerted by
an increasing or decreasing volume of
money upon production and exchange.
Investigation soon revealed 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 multiplied as the re-
suit of an increasing money supply,
and that an opposite result is produced
when the money supply is being di-
minished, the question naturally arises
why should not all intelligent men and
good citizens put forth scommon effort
to secure regular, uniform and ade-
quate money supply, to the end that
progress and prosperity may go on
uninterrupted?
The further question suggests itself
with great force. why in this marvel
Gus age of expansion and development
there should be found a powerful body
of citizens representing the various
nations in combination for the purpose
of outlawing one of the metals that
has been the source of money supply
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 a