The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1898-06-18

monstrance by the producing classes
of all civilized nations has sprung
into life and made the silver ques-
tion the most prominet question of
the day. 1t is admitted by the lead
ing economists of the world that who
ever controls the amount of money
in circulation can regulate the price
of labor and Of every product of la
Dor; for the price of labor as well as
of all other commodities is determin-
ed by the amount of money there is
to exchange for it. If there were
1000 bushels of wheat on the mark
ct and but $500 to invest in it, it
must sell for fifty cents bushel.
Extend it as much money and as
many articles as you may, this prin-
ciple holds good.
The testimony of the following
eminent economists is enough upon
the subject. John Locke says: ''The
lessening of the quantity of money
makes an equal quantity of it ex-
change for a greater quantity of any
other thing Hume says: ait is the
proportion between the circulating
money and the commodities in mar
ket that determines prices. And
again Sir Robert Giffen said: View
ing long period it is beyond all
question that commodities are COM
paratively steady in value and only
the money changes" And so we
might go on quoting multitudes of
others, all bearing testimony to the
same point. Considering the stock
of gold in the world available fol
money purpose is about four thous-
and million dollars, and that ever
since, when few millions of gold
are moved from one place to another
the most wide spread disturbance
takes place in busines circles (as was
the case a few weeks ago, when S6,
100000 in gold was shipped from
London and Paris to Japan for coin
age) that here in oul own country
with an alleged gold standard, GOLD
has almost, except on the Pacific
coast, disappeared from circulation
it cannot be wondered at that the
thinking people of all civilized coun.
tries have commenced seriously tC
doubt the wisdom of the step of gov
ernments which has through adverse
Legislation deprived silver Of its mon
etary function, thus causing gold tC
become scarce and to appreciate il
value. 1t has become evident BY
close study of the question that the
price Of silver has not fallen through
over production of the metal, bu
through those who control the money
of the world and whose interest it i.
TO make money scarcer aud dearer
and production and labor cheaper
The misery and business disturbance
caused by the adoption of the golC
standard have given the silver ques
ton the prominence it enjoys today
Legislative bodies of many countrie:
have taken sides on it. National anc
international commissions have giver
it the greatest consideration, and al
seem to agree that, for the common
good, some change must take place
And they differ only in the means tc
effect this change. At the session OF
| the international conference held il
Paris, 1878, the European delegate.
unanimously declared
/. That the selection for use O
one or the other of the two metals
gold and silver, or of both simultan.
eously, should be governed by spec
ial position of each state or group o.
states,
2. That it is necessary to maintain
in the world the monetary function.
of silver as well as those of gold.
3. That the question of restrictio Il
of silver coinage should be equally
left to the discretion of each state OF
group of states, according to the gar
ticular circumstances in which they
may find themselves placed.
1t will be seen that the above de-
clarations treat money as creation ol
law. And they affirm in the most
emphatic manner the right of eacf
state to select the material of which
its money is made, and that its spec
ial action in this matter should be
governed by its own special position
or interest, saying however, that fol
the good of all, sit is necessary te
maintain the monetary function ot
silver as well as that of gold.
Such is brief history of the ques
ton for the past thirty years and its
status today. Not an issue Of thi:
age is of such vital Importance to the
laborer, to the professional man, tc
all mankind. The extending hard
times, the bankruptcies, the suicides
are they not proof of the utter failure
of the restriction of silver coinage
Compare the conditions of the worlc
today with those of thirty years ago
and we cannot but be forcibly i'm
pressed with the utter falacy of tho
present legislation upon this ques
ton. There is no question which
should be dearer to every patriotic
American heart. Nothing to which
we should give more careful consid
Grafton and thought. Let us read
and study, and strive to understand