Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-12-27
MORE MONEY IS
THE GREAT CRY
o.nauds Of Business World are
Totally Untitled
CAUSED BY SPECULATION
~ Cold Yield Promised by the
Mines In the United States
Next Year.

washington, Dec. 2e.-Mr' Roberts
a,,sctor of the mint, was asked today as
- whether the present monetary strln-
s,nry in his opinion slgnifed an actual
scarclty Of money to meet the present
s.oulrements Of trade. He said:
no possible supply Of money can
rreyent stock exchange panlcs or pc
,,ods Of monetary stringency, because
s,acu,ation and rising prices will abb
sorb any possible increase until the
,rassure for ready cash Is just as great
az mon the new plane as 1t was upon
the old. oo
,oosable as the demand for more
wealth. A new supply instead OF ce'
,nend stimulates II. Men want money
80 huy things wlth-good things 'ha'
,bsv think are going higher. Give easy
money In the banks and we have bank
Hrs encouraging borrowers. AS re-
snlt stocks go up. and as they go W
more people want to Duy' ana 80 th'
demand for money Increases.
"You cannot furnish money lasl
enough TO meet the demand oil all Wh'
would like TO borrow while prices ar.
Going up, nor could all the gold ano
Silver mines In the world together keel
prices going up forever.
"a marvellous era OF increasing
money stocks began In 1850, and started
a neriod of speculation and ended in
world. wide smash in 1857, when ever
the Rank of England had to suspend
nayment without any decline In pro-
ductIon and with the minis everywhere
open to both gold and silver 49, =.
orhe real secret of these reactions u
In ejaculation on margins. Those peo'
nle who are crying that they nave
been forced TO throw away their prop
erty had never paid for their holdings
They borrowed money on call to MAKE
small payments, hoping that a rlgh'
turn In the market would give Iais'
@But In that class Of operations losses
come as easily as profits. That Is one
Of the conditions OF the game. Wher
they have profits they call 1t pros
perity. but when they have losses the!
think the country has come TO a stand
sin and want TO know who is 10 Diane
Nothing has happened except tha'
thew have been asked to pay what they
owe. II is impossible TO do away Wltf
such speculation by any Increase IN inc
money supply So,
"ln short. II is not legitimate DUST
ness that causes the enormous lnnatioi
OF credits, multiplies the bank reserves
required. and thus abs0rbs any posi-,
he money stock. Speculation-greed
wil Inevitably do II, and as 1t Is op-
yously impossible TO satisfy that appe-
lite It is absurd to point 70 a us n
money market as a proof OF an Insult
Gent supply Of money.
Undoubtedly the war In the trans
vaal has had influence upon our money
MARKET Anything that disturps nor
NAL conditions, which turns the cur
rents OF business out Of the course they
have been expected to'follow. VIII anect
business. With trade balances as they
are. our bankers early In the season
had reason TO expect gold imports TINS
FAN and probably directed their pusl-
ness accordingly. The war has not only
cut off a remit OF about S2,VOO,VVo a
week from London to South Africa, but
compelled heavy shipments the other
way. Such a reversal Of the regular
and anticipated order makes money
tight In all centers until affairs are
readiusted. 10 the new condition.
The world does not depend upon the
Trausyaal for It's stock Of gold. Colo
RADIO will produce more gold III lsVV lila .
all North America yielded ten years
ago. and this continent VIII yea NOR
next year than the whole world dla yen
years ago Cripple Creek is up TO the
record OF the Transvaal five years ago
and Cripple Creek, with Alaska ana i the
Klondlke, will next year exceed .,e
Transvaal production Of 1897 Inc
golden tide, though checked for a mo-
ment, is not going to subside."