The midland journal. (Rising Sun, Md.) 1885-1947, 1900-01-05
The Increase of Gold and 5O-cent
Gold Dollar.

ne Increase Ot OOIu dhN oV$S@
Gold Dollar.
The gold standard theory is receiving a
rude shock by the experience OF the past
two or three years in the production OF
gold from the mines of the world. The
theory of the standard" is based on the
claim that gold never changes in its value
or measuring power as money, and on
this claim the goldites place their theory
of a perfect money standard.
All history disproves this claim, shows
it to be utterly false, but no matter, their
newspapers and the gold standard advo
Gates, SOME through ignorance and others
through dishonest motives, ignore history,
facts and natural law in the interest OF
greed.
In the midst of this gold standard war,
and lust when its advocates highest hopes
were thought to be gained, one of their
most weighty authorities, DO less per
sonage than George B. Roberts, Director
Of the Mint, one of Mr.. McKinley's APP
pointees, publishes in his report to Con-
press some statistics which are calculated
TO alarm the fund holding, gold standard
advocates.
Mr.. Roberts statistics show that the
gold output Of the world in 1897 was
$23S, 200, 900; of 1898, $2S7, 900, 900. and
i 9 F1r he n Snnfh
Africa the gold yield, he estimates, would
have reached $40. 600, 900, or over in 1899
Mr.. Roberts thinks that when operations
are fully resumed the output will speedily
pass $500, 900, 900 in a single year. In
commenting on the great gold flow from
the mines of the world Mr.. Roberts says :
1.-THE worlds stock of coin is now being
increased more rapidly and by higher
percentage to the existing stock than
during the period of 1850 to 1860 when
the great output of gold from California
and Australia startled the economists OF
all countries and gave the world depre-
ciating standard of value"
All, ha and what does "a depreciating
standard of value" mean? 1t means So
cent gold dollar if the output of gold con-
tinues and increases In the gold food
of 1850 to 1860 the average annual output
was $685. 900, 900 and this SO frightened
the Economists of every country
men who hold debts, bonds, mortgages
etc.,-that in two of the European coun-
tries the fund holders induced the govern
ments to demonetize gold for fear of the
gold dollar becoming '5o-cent dollar"
by the increasing quantity of gold.
When silver increased by the discovery
OF new mines, and the product of gold fell
off, these same men who are now growing
nervous at the prospect of a new gold
flood, used bribery and clandestine
methods to secure the demonstration of
silver in the United States and the Euro
pean silver coinage counties.
The silver advocates have always con-
tended that the war on silver by this
greedy, credit class was for the purpose Of
making legal tender money scarce and
dear. or keeping its increase down, in order
that their bonds and mortgages might be
more valuable as property deprecated in
price. Had silver and gold both con-
tinued to be coined, since 1873, when the
minis were closed, TO the present time,
property of all kinds would have been
80 per cent higher-prices that much
better-than it is now. The silver and
gold together would have doubled the
amount of money put into circulation i'll
the world, and the gold dollar like the
silver dollar would have been 5o-cent
dollar if compared by the price of prop
erty which would have existed by
the prices that now exist 1t is the in
crease of money that creates and sustains
high prices and stimulates honest, legit-
innate business, while scarcity of money
to properly conduct the volume of bus
mess, encourages speculation and stock
gambling.
We hope for the good of the human
race that the increase of gold will con-
tluuC iOi many CSdiS ohh iSoSh SNSh
$500 600, 900 a year. Yes, if Director
Roberts prediction proves true and gold
continues TO increase till it reaches an
output of 400 millions and more annually
we will have 5o-cent gold dollars in the
same sense that the free coinage of both
gold and silver would have made not only
So-cent sii0ey dollars, but 5o-cent dollars
of all kinds, and for the reason that If
you increase the quantity of any article
in common use the price of that article
will fall. or its purchasing power grow
less. The cry of so-cent silver dollar was
for the purpose of deceiying the masses of
the people who have never been informed
on the relation existing between money
and the things it is exchanged for.
The business of the world has always
been in need Of all the money that has
been coined out OF the precious metals,
silver and gold, and has never had an
adequate supply of money composed of
both of these metals and never will have.
Why are all civilized nations using such
vast sums of paper and credit money if
the scanty supply Of gold is sufficient ?