Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1900-10-12

created to be used in the payment of
debts. In investment. In the making Of
things, In buying and selling; and when
money accrues in undue proportion in
the banks, 1t is a ruinous sign. as when
the cars and locomotives are piled up
In the railroad yards. (Applause)
Why. my friends. you, who In 1896 re-
belled against the scarcening money
system, you who did not believe in a
uear dollar, are you ready to take IL
back now? Do you believe now in a
read dollar? Why. in 1896 we rere told
by the advocates that there was money
enough in the United States, that all
we needed was to have good money; it
did not make much difference how
much we had of 1t. l am not misrepre-
senting. This was the contention made.
l studied their speeches and editorials.
met them In debate at Omaha the
worlds fair. They got bold that year
and dared to enter into discussion Just
that once. (Applause) They said that
railing prices are always sign of
civilization and prosperity; that 1t did
not make any difference how much
money you have, provided 1t be good.
Now, my friends, to that 1t is sufficient
TO reply, speaking scientifically and
automatically, that the quantity OF
money is a function of the quality of
it; in other words. you cannot have
good money il you don't have enough
and II you do have enough and don't
have too much, then your money liz
good. Why? Because. II YOU have
enough, SO that prices won't fall. and
therefore ruin the producer and the
debtor; and not too much SO that prices
won't rise too fast, thereby doing an
injustice to the creditor. then Won do
have just enough. which means the
preservation of the average level of
prices, SO that the purchasing power OF
dollar will remain as nearly the same
as possible, yesterday. today. and to-
morrow. Now. today In the United
States we have a cheaper dollar than
we had in 1896. and vet the Republi-
cans have the hardihood to be glad of
it. They said in 1896 that we had
money enough, Why are they now glad
that we have more? Since 1896 we
have in the United States. SO increased
our supply of money that we have to-
day in circulation about $500. 600. 900. or
more than Sc Der capita Of our popula-
ton, in excess of what we had in the
United States four years ago. What is
the consequence? Prices have risen.
and we have been able to do more bust
ness. Is there any man that will claim
that, if the supply OF money had re-
manned the same since 1896 until now
we could have done the greater volume
of business that we have been doing
during the last few years. and that we
could have averaged higher on ALI
prices, as has been done during the last
two years? The frank ADMISSION must
be made my friends. We have been able
to have a measure of prosperity in the
United States, because. and only be-
cause, we have had an increasing sup
-. - loneS WI" m"ic" " acconinlo-
n.o.e peopie' uoihs "ioIe BUSINESS
- Inc PRIV. " ul's 10
u ia 'ne Aao' ina. '"is PROS
$3.50 "oou. which Jul ieaui"s i'epup-
p ' % no. eonAneu "
~. 80 sa.es why, ueinians,
a...',H iea' Dii'a''i' al, nave emJoSeo
, n wy p"s' Se"' uui"e 10y 60
p.' ".asuie " PospeS III
I'LL ~ 'neii oluiiiaS ieation ~
90 90 W, o"n'
Wv Ie"u"e Ems .i"ue
a.' - 10 issue y. a"" weens
eo' easns .nu' ."1 yea, 4o'' was Tue
MS p.ospe'ous " Di..isn 'raue ~ .ne
los. u"". VI een.uis' anu p.ooa,
- "uu, ,ne nus piospeIo"s ~
M ..'.s =. 4A"el.s" eoe
:" Se"i "eo' Gnu YIN
pains " 80 ,',,s ..e 20" %
"o A' a-u I'm '''" :
s' ~. We p"es
,', ~ aooH ou' ".sIo0' DeN.s
" 90 ~" .He ..on - va. vi. ~
uo oeA"ie o"''
VIC p.oe. sss "u .ne
'i,.a M e BUSINESS 80, -. ne 10.
e"'e .o'u''''' was
"ee" -
What Is it, my friends, that has pro-
duced this practically worldwide in
crease of prosperity? There Is only one
answer to 1t. l defy anybody to give
any other answer and account for ii
and support it. 1t lies in the fact that
the worlds supply Of money, available
for trade purposes, has increased dur
irg the last three years to an extent OF
practically 20 per cent. Does anybody
deny it? If you do not deny 1t, how
will you deny the effect of it's opera
ton? The great war chests Of Austria
Italy, Germany, particularly Russia
have been IN process of being filled dur
ing the past several years, so that the
larger proportion of the output of the
gold mines has found it's way, not into
the mints but into the boards of these
great powers. During the past two
years or SO this has ceased, and so this
added increase in the worlds output OF
gold, instead of being hidden away, is
free to diffuse itself through the after
les of business and channels Of trade