The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-16
4inAurixI.
Financial Forecast.

u 6GdSl.
When California FIRST filled the golfers OF the
world with new gold. tho values Of things which
gold can buy, measured by the amount Of gold
necessary to buy them, were expanded to the
farthest limits which the present generation
has known. After that elimination Of gold
measured values, q decline set in which con-
tinued for almost n quarter of q century,
until at last, as recorded in the wounded
memories Of many readers of this column,
almost every value and all strained ventures
were tumbled in general crushdown together.
After that prostration for many months IL
seemed as though gold were tho only thing to
he coveted. We undertook at that time TO give
a clear conception of tho exaggerated relative
value Of the precious metal by saying that
:" gold remains conspicuous above the wreck Of
panic, shining above tho hungry eyes of men az
shines tho golden domo OF Napoleon's tomb
above the people Of Paris"
When mon are about to die from thirst they
dream of fountains. and It is from the bottom Of
tho deepest wells OF poverty that we gaze most
greedily at the glittoring starr. That gold
men. Discouraged In che ownership Of other
things, bafied mankind became absorbed In
q struggle to obtain the precious metal.
empires mortgaged tho future to OBJ
tain It. and the richest Rothschild was
coupled in spirit with the poorest sdventuror TO
$500. A. --Ah L. .~.~~h g., o. tN noVnn
about. under developments most natural, that
tho greedy spirit Of venture tore open the sur
face OF tho earth. and exposed the metal in such
quantities that imagination became satiated.
the eilded prize became less coveted. and all
other things gained in relative Importance.
Thus was the mighty pendulum Of values turned
in the opposite direction. 1t was then recorded
in this column:
Mankind, during centuries Of struggle with
the surface of the earth. constructing therofrom
and thereupon an improving civilization. has
passed through many distinctive stages Of do
velopment, from the age Of stone to tho 'ago
of iron.' We now enter tho age Of gold.'"
Gigantic Shakespeare taught US concerning
''tides In the affairs of men" and how to adjust
ourselves in reference thereto. He has boon
called many minded" He was moro than thati
he was q group Of men. and seemed to SEQ every
subject from every possible point of Wow. 1t
has required long thought and modern times
70 eniarRe our uhoerstHnaihb u hen'
tides. twenty-five years "ero oon'unou 70
lore Inc oowh"atu curreh' o soia."ufo~
va,ueS reaeneu u oulnin"t'on' ne.
!uuse w 'he soiu e@posuiee VI uino.o
hIohoikeSo o. inc siooe AZ 'hns time' u o'ufn
curren' Will cohsune "ore "nne enu toHeAe
larger expansion. Almost q eeh.ury nay pass
before this revolution covers its two extremes
1t follows that our readers will not again ind
themselves IN inc GARY porton :" tfoSs
PERIOD OF expanding Vaiues as measuFeo oy Inc
gioed yarosuck.
lhere ID another tioe IN human eneiis IL"
moving ~ al ~ ",'oSoSn'. tneto
from tne fevoiuton eooVe oe,cr'1ea. anu 'e'
WORKING IN harmony tnore"itn. we reio, W
the expansion ot Values no" oeihs ofoaeou W
inc more cohnoeht use q. money W u oue"aru
no" o money aroHh vaults ih'o ventures. wv
nave repeatea'y Undertaken 70 impress our
irienus WIN inportehoeo Feai.s,he .neoofi!
uhloiu,ns VI suen periou' y = .n.oes
meht' rihnnciai Experiences u Son'
oozen years are oohsunneu IN uo,
'eiopheht' anu oisso'ueion Vi oaen ihuue'tisA
epoch' Ahere q ho oouo' "" u poop'o
III s'H'os : y
u Vi 'nese N o.o'oe. 70 u. ~
anAe - .A.'' . ps.SlSs
e:;' same s:!'; ;,1 before V: :': ::':: q ss's Is: :;-: 4:
as measured by gold and the collat-
eral movement OF expanding values created by
the confident use of money. 1t 10 nothing less
than wonderful that this combination of forces
has come upon the people Of the United States
at q time when they have drawn into their
midst from other countries moro money than
ever before. and when tho laborer on tho farm
as well as the laborer In the mandatory 10 pos