Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1898-09-23
n oATEcHIsM.
sctne oucHtions T-Int Are DcinE
ho,ee,i. with Their hnnvcrs.

soac oucHtions Tint Are scing
ho,ee,i. With Their annrcra.
Question Is it true that gold. in
greater degree than other substances
POS. csscs Al stable value. Unaffected by
apply and demand?
A"swer-lt is not true. Nothing could
ic iHcrc silly than the melting pot"
test So long as a certain amount of
I ia cUn always hc freely coined into
dollar ii must always be equivalent 10
a dollar. but, as we all know. the value
ur purchasing power Of n dollar may
rise and fall within wide limits. con.
fitiancl upon the amount of money in
circulation as compared with the
amount of commodities in the market.
Give silver free coinage and tL. melt.
ing pot test would apply to silver equal
~ with gold The Increased demand
for gold accustomed by the denial OF
free coinage 10 silver has given an i'm
mcnscly increased value To every dollar
in money based on the gold standard.
Q.--ls the cumulative theory OF
money generally held by political econ.
omists?
Alt IS. John Locke, volume S, page
40, says: For the value of money, in
general, is the quantity of all the money
in the world in proportion to all the
trade" The report of the Britisb bull
lion committee of 1910 says: IAN In
creased demand for gold and Il scarcity
of that article will make it more valua-
bic in relation to all other articles. The
same quantity OF gold will purchase n
greater quantity of any other article
than ii did before; in other words, gold
will rise" Ricardo, in his "Principlcs
OF Political Economy" chapter IL, says:
"The demand for money is regulated
entirely by it's value, and it's value by ts
quantity" Giircn, in "a Chapter in
Standard Money" says: "In this sense.
to say that the quantity of money rcgu-
lates prices Is only the same thing IA
to say of any article that is bought and
sold that its quantity is II material fac
tor in determining its value"
Q.-What Is n prime requisite OF n
stable money standard2
A.-That the aggregate amount of
standard money In use should increase
rs nearly us possible in an equal ratio
with the increase of other forms OF
wealth and the demands of commerce.
Q.--ls the annual increase In the vol
Juno of gold money sufficient to render
that metal n stable, or, in other words,
just and honest standard of values?
Alt is not. Commerce has for many
years been increasing ut the rite of
more than six per cent. per annum,
while the amount of gold coin or bull
lion available for use In commercial
transactions has shown an increase OF
but n slight fraction over one per cent.
O. Under bimctallisrn would the
present rate of production of both gold
and silver combined provide a sufficient
supply of standard money to keep
prices up to scale that would prevent
constant appreciation in the purchas-
ing power of money. detrimental TO the
owners Of all forms of property save
money and credits?
At is not at nll probable TINT Il
would, but the depreciation of prop.
erty, or "uncarned increment" nccru.
Ing to the owners of money and credits,
would be much less than under an cx.
elusive gold standard-Gilbert Nc.
Ciurg. In Chicago Dispatch.