The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-12-27
DIRECTOR ROBERTS DECLARES

~ n ~ Il
DlkEC | Uk RUbEkI0 DEGLAkES
"No Possible Supply Of Money Can
Prevent Stool, Exchange Panies Of
On''aS s'Esn'S SNO ~
Speculation or Rising Prices"
WASHINGTON. Dec. 2e-Mr. Rob-
49,. a. ,,..,.,, =. ~. ,,,n. $40. o.v-
ea to-oay as 70 "hetner tne present
monetary stringency, in his opinion
slgnlfied an actual scarcity Of money to
meet the present requirements Of trade.
n. .a,5.
mo nos,bIs supn,v oF money can pre-
vent stock exchange panics or periods
10 roors+,r ~ s,rInvencv because specu-
,otIon ana rising nrlces viii absorb anv
nossiblo ircreass ,,ntn the presspre for
rsodv cogh Ia +,st No great unon the
ror nlnre as n wos ,,non the old The
crv for more money Ia ma unappeasable
NO the demand for more wealth A
now snDnrv instead of SATISFYING the
do,nord stimulates n Men want
Nancy to huv tbIngs w,tb-good things
thot tbs, tbIn, are going higher. Given
o.sv nonev in the banks. and we have
hon,s,v onconrav,np borrowers. As n
,ss,,It ,+oc,,s ~ I'm and ma thew go. uu
,,oora naonio yo,,, - Inv and 60 the de-
r,ord ror money increases You can't
Srrr,sb money fast enough to meet the
damord ~ an who would like to borrow
whI,e nrtcss ore going I'M. nor could all
,ha 0o,d ana silver mines in the world
tosotbs,. Eeen nrIees going up forever.
"a marvelous era Of increasing
money stocks began In 1850 and started
nor,od of snecu,atIon which ended
with a Grand world-wide smash in 1857
,shsn " Gysn +be Ronk os england had
~ 30, s,,snsyd nay,ps,,t without my DE-
oI,na a. rrodpction and with the mlnts
evorvwbers omen to both gold and sill
ver The reai secret Of those reactions
j., II sne.,,ot,on nm margins These
people who are crying that they have
hoo, ,orcsd ,o throw away their prop
-, ma revsr Maid for their holdings
rS.,, horro,,od money on cal, to make
III ~ ra,,nonts bon,nr tbnt a right
..na ~ ;ho rnor,et ,yonId give large
". s~" - D.. d. IT, +hot class NJ operations
,as..s S' oorne os cnsI,v as profits. This
~ S0or ~. =, tho conditions Of the game.
TySan thsv boye nrosts they cali It
nrosperitv. but when they have losses
ro'F.s l,', 49, ,hs country bos come to a
s.a .ne1 a1os,,,, . anG want to know who is to
,,,ama NotbInr bps happened except
10. 'ar. ,nax I,oys b.sn asked to nav what
.Sa,. NO er. o,,S
'"ey ~. ~ ", ,,,,.o,.,h,. 70 5o awav with
- .',..',o,Io,, hy orv Ircrease IN the
suS' 49,, ~ S,,,,n,. 10 v,ock selling Mt 800
'"o"IS sarr' ~ ,,os an oavance Of SO the in
80. ~, s,. ,,.ho ou,., Il outright makes but
w ,eSso. ~. W, w,n,,o N. snocuIator who
+s ~. -. s,,,,' ,norgln Of so makes 100
l'"s ~ . ,rsat Is ire sscret Of mar
- ~ t.ad,ro
S..u, ..,,, no., :, !, mt legitimate business
.,.t na,.ss N. enormous imitation OF
"sS,,s e'., ,,,,I,,nI,o, IN. hank reserves re-
,Jr a,,,rad nNd I'm. absorbs any possible
Hume Ia.o, s -,oot sneculatIon-creed-wlll
'no"r, ,o''',,,,,,. AT. ana II q obviously i'm
l'lesi,"Dy ,,, w .a,,.r,, ~ nat annette it Is
poSs'"'e ~ ~. ,,o,.,, ,ror-
SOs'la ~, ns +. - nroos Of nm insutlcIent supply
Ns' 80. "s
u .IIOao,,h,.a,,; the war IN the Trans
-, NV. md influence upon our money
,,,ns nau. ,'s' Anv,blnr that dIsturbs nor
mae, .,a, oond,tIons which turns the cur
ma. r,n, =, hn.,ness ont Of the course they