Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1899-10-19
GOLD STANDARD The CAUSE.
Trusts are caused by cur Money
System.
KILL THE SHE BEAR FIRST.
W. II. Haynes, Of Sherman. N. Y. gives a
lucid explanation Of the cause Of
trusts In the1lsufKalO Times.

Avoiding details. will make statements
by the leading authorities and
b. facts which should convince any un-
person that tho manipulation
Of our financial system by the bankers
has been the greatest factor in the pro-
duction Of trusts.
Money follows the law Of supply and
demand. Gold standard advocates avoid
applying this to money, although they
dare not deny it. Locke, Henne, Ficthe,
James Mill, Ricardo John Stuart Mill,
Torrens and all writer's on political econ
omy, express it, in words to this effect:
THE rate at which money exchanges for
other things is determined by its guam
tity, the supply Of commodities remain
ing the same"
1t follows that if nation destroys "alf
or part of its money, the supply being
thus made scarce, the dollar will pur-
chase more goods, production remaining
the same.
In other words, the farmer or laborer
must give twice or three times as much
10 obtain the dollar.
Thus he cannot buy as much from the
merchant, rot having as many dollars,
or il so, fails to pay.
The merchant will buy less from the
manufacturer, and he, unable to sell, or
if 80, at less price and greater risk, is
forced to reduce wages, run half time, or
shut down altogether and place tis money
in the bank, which otherwise he would
have used in manufacturing.
This condition soon causes the hanks
t. have more money than they can invest
safely. They accordingly lower the rate
OF interest.
The farmer, laborer, merchant and
manufacturer, unable to do business at
profit, because Of the scarcity Of money,
the result being that what money there
is will be deposited in the banks. The
advocate Of the English gold standard
system will unblushingly tell you that we
have prosperity, and there is plenty Of
money, the banks are full II so, why
do depositors not invest it? Why do the
bankers fear to loan it? Because a de-
Of values directly produced by
q lack Of sufficient money, makes invest
msnt hazardous.
Under such conditions the owners of,
we will say, a dozen plants combine and
q trust is formed. Five or six Of the
plants are shut down, and the employees
and commercial men representing them
are discharged.
The trust may raise the wages of the
remaining men ten per cent, and at the
same time. incidentally. double the price
Of their product.
The Commercial Travellers Union at
tributes the discharge Of thousands Of
their men to the trusts and have de-
nounced tho trusts accordingly.
II they "vote as they pray" Mr.. Bryan
will have their support in 1900. Let US
apply our theory that contracted cur.
rency makes the rich richer and the poor
poorer.
Rome, England, and the United States
will furnish enough examples to sub.
stantiate our contentit n.
Rome's downfall was caused by lack Of
Alison, the English historian, states
that no writer Of the present day denies
that this caused her ruin.
The Romans obtained their gold and
silver for coinage from the mines Of Greece
and Spain. These failed. Her supply Of
money fell from 1880, 0O0, 900 to about
f75O, 200, 900. This ruined her farmers,
since they now had to give such great
quantities Of produce to obtain the old
price.
For example: Fifty bushels Of wheat
sold for dollar. The labolar, merchant,
and manufacturer followed the fate Of the
farmer. The masses starved and the
wealthy grew richer. These conditions
Of distress continued over Europe till the
discovery Of America gave q supply Of
gold and silver for money use, and then
came corresponding prosperity in pro-
portion to the amount Of currency.
"That the disasters Of the Dark Ages
we're caused by decreasing money and
falling prices, and
with diminishing supply Of money civ.
ilization must languish, and, unless re.
lieved, finally perish. ~. s. Monetary
Commission, March 2, 1877.
The rich Romans, who could purchase
Afty bushels Of wheat for a dollar, would
i alive today, call our dollar "50.cent