The midland journal. (Rising Sun, Md.) 1885-1947, 1898-02-11
Sixty Millions.

ening and vitalizing influence it has had
on the business Immediately resulting
from the money set in motion by the
wheat trade, tolerable comprehension
NAV be reached of the influence that
amount of new money would have on
business, if injected into the channels OF
trade Throughout the country. The great
est influence has been felt in the North
west, the great wheat producing region of
the country, for the bulk of the sixty
million dollars released, found its way
there Immediately. Other parts of the
country have not felt the impulse given
trade and industry except to a limited
and partial extent-a kind of reflected
influence.
Railroads in the direct line of trans
portation between the wheat fields of the
Northwest and the sea-board have been
large benefciaries and the lines of pro-
ducts that supply the domestic wants of
an agricultural community have been
Immediately benefited by the injec-
ton of this sixty millions OF money into
the cereal regions of agriculture. All
other lines of trade that have felt any
movement of reviving life owe it to what
may be properly termed collateral or
reflected impulse.
The eastern States whose chief source
of industry is textile manufacturing, and
the southern, cotton growing regions of
the country have not been sharers in the
benefits of the wheat crop of 81. In the
New England States the manufacturers
are obliged to cut down the wages oftheir
employees or cease to pay dividends A
sufficient demand for their goods has not
been created by the wheat money.
If sixty millions of idle money, forced
from its hiding place by foreign demand
for wheat can have such vivifying in
fuence on business directly in its line of
movement, what result might not reason-
ably be expected from All influx of sixty
millions of new money issued from the
minis to the owners of silver bullion !?
The influence of that amount Of new
money would not only exert a direct
power commensurate to the amount is
sued, but its quickening impulse on the
general business of the country would
commence to unlock the idle boards of
money that have been driven into retire
ment by falling prices Capital is never
safe in productive business in all era of
falling prices.
Opening the minis to the free coinage
would mean, not merely the letting loose
several millions of idle money, and then
cease to keep up the supply which newly
awakened trade demanded. Open minis
would mean a steady increase of new
money, which rising prices and an ex-
banding productive industry would call
for. A rise in prices calls into action all
the idle boards of money, and by this
vitalizing influence of the free coinage of
silver a much larger volume of circula-
ton would be the result, than the addi-
ton of new silver money alone would
create. Gold would at once lose the i'm
mense purchasing power it has attained.
The prices obtained by the farmer and
other producers ofthings to be exchanged
for money would be increased Debts
would be brought within reach of the
debtor and the day of his deliverance
from debt bondage would draw near. The
mythical 40 and so cent dollar would
disappear Immediately. The silver bull
lion on hand and as it was mined would
not be sold to the Jew silver brokers of
London at whatever price they choose to
name, but would be sent to the mints
and come out new dollars; and as no one
would sell silver bullion for less than the
purchasing power of a dollar, like magic
the 40 cert bullion in the dollar would
disappear, silver bullion and silver coin
of equal weight would be of equal value,
as gold coin and gold bullion are, ard
from precisely the same cause.-the law
had opened the minis to free coinage of
silver as they are open to free coinage of
gold.
Fully all additional thousand millions
of money is requested by the business
active and undeveloped-of this country
to advance price till normal condition
of trade prevailed. A normal condition
of trade would represent range of prices
which would increase the value of prop
erty and the products of labor, in a ratio
to capital that would release the producers
from their present bondage to capital.
If the free coinage Of silver alone were
depended upon to increase the circulat-
ing medium thousand millions it would
require several years, for silver would
continue to go to the old Yerld countries
when it cost 81 20 all ounce as steadily
and in equally large quantities as it goes
when its cost is less than half that The
United States mints would then set the
price of silver bullion Instead of family
of Jew bullion brokers i'll London, who
have been pricing silver since Sherman 5
crime OF 1873. 1t would be then match
between the power of the richest nation
on the globe and family of London lew
bullion brokers, and the American yellow
,nouthed g0ldbug has fallen so far in
patriotism as to confess he is afraid to pit
he o,,1 lat.