Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1899-12-14
Defeats the Money Contractionists
at Their Own Game.
B1-METAL11C THEORY PROVEN
Scarce Money Advocates Of 1906 Now
shout Of "prosperity" Caused by
Increased Gold Production.

The gold contractiOnists have been de-
feated at theil own game. The movement
to demonetize silver was instigated and
promoted by combination OF the worlds
great bond holders and creditors for the
purpose Of making money scarce and en-
HANGING its purchasing power, their mo-
tive being to enrich themselves unjustly
at the expense OF general society. They
have no special love for gold because OF
its color or other qualities any more than
they have for silver; with them it is only
question OF money supply. With a
contracting money volume and falling
prices the purchasing power OF the money
that they receive annually as interest
and the principal in which their bonds
are to be paid is constantly gaining greater
control over the property, commodities,
and labor OF the world. The first organ
lied movement, OF modern times, to de-
monetize one Of the money metals culmi-
mated about half century ago when
the great creditors became alarmed lest
the gold output from the then new dis
coyeres in California and Australia would
so augment the worlds money supply
and cause prices to advance that their in.
terests might suffer. At that time several
European states we're induced to discard
the use OF gold and make their coins Of
silver alone. Their project to completely
demonetize glod was defeated through
the obstinacy Of England. The British
merchants were at that lime rapidly ex-
tending their trade with all nations and
would not tolerate change in their
monetary standard. Hence the move
ment against gold failed.
The movement against silver took a
definite form when reports were spread
throughout the world OF the fabulous
riches OF the Comstock mines in Nevada.
The opportune time presented itself when
the German states were united into an
empire and were about to receive thou
sand millions OF gold from France as a
war fine. The United States at that time
being under a suspension Of specie pay
ments and the business OF the nation
being adjusted to the paper circulation
upon which the war Of the rebellion was
fought. it became an easy matter to SNUG
gle the demonctizng clause into the mint
bill in 1878, thus outawing silver in the
United States without attracting the at
tention OF congress or the country.
The outlawing Of silver by the United
States congress, and the adoption Of gold
as the money metal Of Germany,:who
was to collect thousand millions OF that
metal from France in brief period, forced
France to close her minis to the equal
coinage Of silver with gold, inlorder to
prevent Germany draining her Of her gold
in exchange for the silver coin which was
being Withdrawn from circulation in that
Thus the legal ligature that
held the two metals together as one
money for the world was severed through
the mints accepting gold and coming it
without limit into legal money, while sill
yer was rejected at the minis, reduced to
a commodity to be marketed in Oriental
nations, IN all Of which it retained unre.
stricted monetary functions until the
closing Of the mints Of India in 1903. The