Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-06-07
TWELVE PAGES
WEDNESDAY. JUNE I. 1899.
GOLD IS NOT CURRENCY.

What happens when material and
production, as we'll as permanent pro-
perry, are prodiglously increased, and
the number of sharers is also vastly
multiplied, while exchanges become
more numerous, frequent and rapid.
demand and consumption grow at an
ever greater ratio, and at the same
time, with so stupendous a develop
ment OF everything that demands
money and q circulating medium. the
actual money and ordinary legal means
OF exchange are almost correspondngly
!. diminished? There is a question in
commerce. finance, political economy
and common proportion that is really
very simple in its terms, and one which
has a manifest answer, but for the
chicane and confusion of figures
wrought by the benefciariess of the sit
uation to conceal the truth and mislead
the public.
The answer Is that the disproportion
of money to values and business is in
calculabiy too great. and that in direct
ratio to this disproportion are the ad-
vantages of the capitalists, money
mongers, gold monopolsts and currency
maEipulators. The practical value and
power of money and currency expand
in unnatural excess as this dlspropor-
tlon between the volume OF commod-
ties and transactions and the volume
! of the medium of exchange and the
. standard OF value grows, moFe-vigor-
y ous.y subjecting everything to the cash
capital in actual operation, and which
becomes the more potential and over
bearing as Its volume diminishes and
Its purchasing ability enhances in ge-
/. pmetrical proportion.
F.. This is self-evident statement. 1t
Is q. plain proposition that cannot be
denied, because even the most ignorant
man knows that IL the supply of air.
light. water. food, or of any necessary,
essential, or desirable means be de-
creased, the stronger the demand for
1t, the more valuable it is, and the
more intense and vigorous the struggle
s for 1t. That Is what has happened with
what we call money, or cash. or cur
rency, Including all the means known
!. TO commerce and finance to effect ex-
& changes or sales, make payments, adj
just differences and clear off mutual OBJ
legations and demands. We shall not
pretend to fix the moment, or day, or
year, when our currency here or
.sthrougbout the world became too scarce
!. 40 fill the calls of use, necessary and
Y speculative (each. In practice, as real
!: as the other to a certain point; but
= We oil know that point was attained
many years ago, under demonetization,
the withdrawal of greenbacks and
= other Treasury notes from circulation.
] tie curtailing Of bank-loans. &c. or
! course, a great deal is made, has been
I made, and will continue to be made of
: the growth of gold production; yet
while that has certainly afforded some
relief and saved us from the worst
pinch of money contraction in spite of
our money metal tricksters, still ii has
S peen utterly inadequate, and it is pre-
pnsterous to claim that our losses by
deprivation Of silver have been restored
oy gold productIon,-no matter OF what
amount, as we were and are entitled
70 the full production Of silver. at it's
value as a moneymetal, a. well az TO
that of gold Mt it's coin value.
Gold serves. IL You please as the
stan6srd Of value. That u Of no I'm.