The commonwealth. (Greenwood, Miss.) 1896-1923, 1898-02-25
rs CUE. - PLANs.
Number XIII

stand ri one nation alone when
there gg. 10 other countries siren
ousIy con ing with It for that gold
on which had 10 rely to aI up the
place 30 monetary system made
empty D. &c destruction Of silver as
money. s.r Archibald Alison says
that the RENE low price Of commod.
titles col ed for three years Pre-.
sumabl ices began to improve at
the enc that time and why? Be.
cause, e.. 2 being no particularly
strong c md for gold among other
nations, naturally flowed toward
England, where the vacuum caused BY
silver decentralization had intensified
the demand for it. While the Anan.
cial shock caused by the British adopt
ion Of the gold standard was great and
acute, 1t was NOT long continued, be-
cause it was not necessary to enter into
a frenzied scramble to secure gold to
take the place of discredited silver.
The reaction was consequently speedy.
Is there any promise Of a speedy reac.
lion for us if this conspiracy IS per
mitted to be fally consumated7 Let's
look into that.
In 1871 there was but two gold stand
ard countries on the globe, to wit.
England and Portugal Their com
bined population was only about 86,
900, 600. Then out Of the n and a
quarter billions of human beings in
the world at the time, only about 88,
900, 600 in 1862 wero absolutely depend
ent on gold alone for redemption mon.
ey All the others could do without it
and suffer no Inconvenience if its place
were supplied by silver. Since that
period Germany the Latin Union, the
United States Japan, Brazil, Austria
and other countries have gone to the
single gold standard and where thirty
years ago gold was indispensable to but
10000 00 people, today there are twenty
times that number who are absolutely
bound to have it for redemption money!
Can there be any reaction from falling
prices if the single gold standard is
fastened upon us under these circum
stances, and we cannot secure single
ounce of gold from any other country
without a struggle and to the extent we
draw on such country for gold. derang
ing it finances? We cannot do as Eng.
land did-send silver to take the place
Of the gold we get from other coup
tries, and thus avert monetary shocks
and panics; because in those other
countries silver is debarred from the
privilege Of the mints, and will NOT
serve the purpose OF redemptioh money.
Thirty years ago the civilized world
had a volume Of redemption money
amounting TO nearly eight billions of
dollars. The money was the basis Of
credit transactions; for under the
operation of commercial laws the ma
tion or individual who had no money
today might easily hope to have none
tomorrow, The money Of the world
was the lifeblood of commerce--not
''"S H"lV ana connneu TO one ptagu. Uur
constantly flowing out through the ar.
teries OF trade to the ]furtherest extrem.
iIles Of civilization, and thence making
It's way back through the veins TO the
of finance, 1t was all needed
y "asall actually or constructively in
constant use. The demand for it was
urgent-always persistent, and
lhder this constant and intense demand
Inc gold and silver dollar, each being
money Of final payment was equally
lsetul in the commercial system Of
he world.
Today, either under the laws OF poll
OF governments, the volume Of re.
.emption money has been cut down to
than four billions of dollars and
wenty times as msny people are
5ruggling for this money as were en-.
aged in the struggle for gold twenty
ears ago, while the demand for gold
not been materially increased. The
emond has been increased twenty
DID, the supply has been hardly in.
'eased in proportion to Increasing pop
And yet there are so called 1
at'mcn in BIS country who calmly
isert that the new conditions have pro.
no enhancement Of gold.
Why was silver ever demon etizedq
the volume OF money eyerts no in
fence upon the value Of each none,
what reason existed for its de /,
It will not do to saw /.
at the people refused it as oney for
are today more silver coiI S in use
mat any period Of the world history. /
not the use Of silver as pseudo !
oney make believe money money r
lich must be redeemed in gold-tbat !,
g iiuanciers objected to; for its use in i
IS way instead Of lessening the value !,
gold is but another demand upon
ID and must to that extent make. gold
Y more valuable But as redemption /.
'ney each silver legal tender coin that =,
3 minted took something away from
value tor purchasing power of each i,
n OF gold and in SO doing took a like 4.
portion Of value away from each \,
that was payable in coin. 4.
This were not true, the trusts ana
and banks aud moneyed cor, y
Of g cry description would
care a fddlers i~mprecation wheth r 81
er was admitted 10 unlimited coin