The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-02-12
MORE MONEY! OR WE PERISH!
Norfolk yirginian and Pilot.)

(Norfolk Virginian and Pilot)
sary truth, that the volume of current
money in the world at any time is the
value at that time in that money OF ali
the assessable and exchangeable pro-
perty. commodities, labor and products
of the world. How all values fall as
money becomes scarcer and searcer.
How they rise as money becomes more
abundant! Yet it is none the less true
that supply and demand also regulate
values, and sometimes plenty of
money. tending to raise all prices, Is
met by an enlarged supply or lie.
creased demand, in some article. and
it's price may fall instead OF rising with
the others. Nevertheless, the abundance
OF this article. or its diminished demand.
does not put it as low in price az it
would have fallen but fer the enlarged
volume of money in currency. Contfati-
wise, decreased supply. or an increased
demand. cooperating with an expanded
currency. will altogether raise the price
Of an article highe than II would
with only Il decrease of supply in ~
production, or an increase of demand
for il, or only an enlargement Of the
money-value. So, the price would gu
higher still. if decreased supply, mereas
I'd demand, and more money, all three
concurred.
The great English philosopher, Locke,
said that money lis the instrument and
measure of commerce in all the civilized
and trading ports of the world He
says further that money 'is made
equivalent TO all other things. and Is
consequently the universal barter or
exchange. which men give and receive
for other things they would purchase
or part with, for valuable considern-
ton; and thus. as the wise man tells
MS, money answers all things" Ger.
nuschi and other learned tiuanciers and
political economists, hold that the vol
ume of money not only determines all
other values, but the value OF money
itself: the greater its volume the less
it's value, but the greater the value of
all other things; and the less its vol.
ume. the greater its value, and the less
that of all other things.
1t is largely governed by the laws of
supply and demand; the demand con-
slant and unlimited, the supply tor vol
ume) variable and limited. Because
gold and silver were not artificial pro-
ducts, or materials capable of being
made or produced at will, in any guam
tity, but were scarce natural products,
limited by nature, and very difficult to
mine and separate from ores, etc, they
were made the money and money
metals of mankind. There never has
been too much of them, and it was be-
lieved that they were beyond the reach
of the tricks Of adulteration, expansion
and contraction until the fraud of 1873
was divulged from London, and it was
found that in the February of that
year Congress, in the hands of sharp
ers, had violated our supreme constitu-
ton, repealed the law of 1892 regulating
our mint and con, and broken the laws
of nature and of God to which we had
committed the safety of our money and
its supply, by demonetizing silver (sud-
denly cutting off that natural supply
and contracting our currency one-half.
This was done to enhance the value
of gold. TO make gold the monopoly of
all finance. public and private: 10 dou
bic the value Of the diminished supply
OF currency; to make money scarce and
hard to get; and to drive all capable
of doing so to borrow from those pri-,
vate institutions called national banks
that are furnished with free notes from
the national Treasury. Cutting off the
people from the free and unlimited
coinage of silver, from the bank of ma
ture, they are directed TO borrow of
the banks who are endowed with the
free and unlimited issue of notes, freely
given and guaranteed to them by our
own Treasury. we to pay from 6 to u
per cent. year interest for every dol
lar we can borrow to replace our stolen
silver.