Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1899-11-29
Il REASON FOR 1T

The Statesman has been racking
its brain for several days, to find an
excuse for the money stingency in
the east. 1t needed some sort of
reason badly, after all the preaching
it has been doing about prosperity,
plenty of money, etc. Well the
Boise daily was about to yield up
the job, when its eyes fell on
copy of the St. Louis Globe-Demo-
crat, republican rabid gold paper
that processes to give a cause for
the tightness. This the Statesman
gleefully copies in full. Only a
few of the paragraphs are needed
to show how easy(?) it is for a
great newspaper to explain all such
trifles:
Here is one from the Globe
Democrat:
There is talk occasionally Of a
stringency in the money market, yet
the circulation is constantly and rapid
ly increasing. The aggregate amount
of money of all sorts in circulation in
the country on November / is put by
the treasurer officials at Il, 963, 716, 14s.
This is the amount that was in the
banks and in the hands of the people.
The treasury authorities figure that
this is per capita circulation of $25. 60
This is gain of 15c per inhabitant in
the month of October, and 73c in the
IL months,
Isn't that a paralyzer! just
think, the average per capita has
increased 73 cents in IL months.
If a man has 10 cents more in cash
now than he had last November, he
is prosperous beyond all expecta-
tions, for this is a prosperous era,
you know.
But here is the climax capsizer.
According to- the Globe-Democrat,
the truly true reason is:
Here is the cause Of the tightness
of money. The volume of the indus
tries has grown SO rapidly in the past
II months that the circulation has not
quite kept pace with it, although this
has increased with great rapidity.
There is chance that the circulation
will soon catch up with the volume of
trade, for the money of all sorts which
is in the peoples hands is solidly
anchored on gold, and is thus SO secured
that..the country is satisfied with it.
That's as clear as mud. The
industries have "grown so rapidly"
in the last year that the increase of
70 cents per capita has not QUITE
kept pace with it. We suppose
if the per capita had reached soc
it would have been about even with
the industries. In other words if a
man does 80 cents worth more bust
ness in 1000 than he did in 1890,
he will be prosperous to a finish.
Y on may smile, but that's what the
Globe-Democrat means exactly.
The business increase in the coun-
try amounts to just SO much, and
the circulation increase amounts to
just SO much, IS cents. Average
these among the population and
see if we are not right about the
increase.
just TO show how even a big
newspaper like the CD can lie
and call it treason" read this:
There is no speck on the financial
horizon. So long as currency remains,
as now; thoroughly sound, it can
readily be kept within measurable
distance of business need. There will
be no shortage in the currency which
will be seriously harmful"
And yet Russell Sage said, last
week, that the $25, 900, 900, OF
money, offered the banks of Wall
street by the government, saved the
country from panic. Not New
York city, mind you; but THE
COUNTRY.
The fact Is there isn't enough
money to do the business of the
country, and these "money strin.
gnecies" will be in evidence as long
as we stick to the gold standard.
Everyone acknowledges that the
money in circulation does not in
crease nearly fast enough and will
+ not till we have more money of
ultimate redemption. This we can
not get from gold sources, therefore
free silver is the only recourse.