The independent. [volume] (Lincoln, Neb.) 1902-1907, 1903-10-29

I T.
Further, the populists apnlias az
natural law to coined money ana
contended that p increase in tba a.
nominatonal sum must result in a d.
crease in the value Of each dollar o.
hni that as each coin bears its "pr,coo
stamped upon il. the fan in the valpe
OF the dollar would be shown only
N the Increased prices Of other
commodities given in exchange for
the dollar.
Accordingly If last year it required
three bushels Of wheat to buy a coined
aollar' and this year two bushels
would command it. The rise in the
'Erice Of wheat from Sl-3 cents TO
~ cents might be caused BY one or
more Of several conditions. The spp-
Ply Of wheat this year may have been
less, The demand may be greater. or
the number Of coined dollars NAV be
Greater. Say last year there were 6
bushels Of wheat 2 mouths to feed
and coined dollars; this year there
are only 4 bushels Of wheat. but there
are mouths TO feed. and coined
collars for use in exchange Evidently
the value Of dollars" has fallen and
The value Of wheat risen; but the
dollar is stll nominally a hundred
cent" dollar
Giving statistics regarding the rap
III inflow Of gold bullion in the past
i've years. MI Roberts said.
This plethora Of the precious
metal ia our country presents
three problems interesting ard i'm I
portant. What is 10 be the effect
on our currency? What on prices
and WAGES? What on OUT Worla
relatonse'
Answering the first question. Mr.. I
Roberts scents a possible peril" be- 4
Our circulation is undergoing
an immense and continuous iufa-
ton. IN FIVE years the money In
circulation in this country has
run mp from SlSl6,5l6 3g2 10 So
404 6ll ,069. an increase OF s5SS.-
0z4.GT. The strength is that Of
this growth S35s Coz ,872 has been
In gold. coin and certificates. an
annual addition in that form Of
nearly $4,000 900. We are to con-
front further increase in our cir
culation. of which gold will con-
stitute not far from $4,000 900
year. That precious metal. in
Gliding the certificates standing
for il, is now 1921 Of the total,
and its share advances steadily"
And gold says the treasurer,
differing from notes of national
,snks, is money Of final reserve and
redemption. ard the credit built upon
I is higher and broader, so that the
'otential imitation may be carried fur
her" But what possible difference \,
Guild imitation" make. if the repub-
can contention Of 1886 was correct?
.el Mr. Roberts answer:
Prices Of commodities have
undoubtedly been borne upward
by the imitation. Special influ-
ences have affected iron: Besse-
mer pig. which was sI0.25 in Aug
ust. 1898. cost s21.75 at the same {
time in 1903. steel billets in the ,
same interval have risen from
s1475 to s34. No red winter
wheat. which was IA cents, became
74lz cents: mess pork from se75
jumped Ia slS25. and family heet
from sll50 TO SIS: cotton from
l1-16 cents advanced TO Sa-16
cents. Ohio fleece wool fell from j
3 70 q cents. Il
BY index numbers the advance !,
of all commodities has been from
So SOS 10 s97sal or twenty-one 6
points. on fan examination the Al
employers association Of Chicago q
finds that the cost Of living In this
country has Increased 3 per cent
tn 1ye years. Carroll u Wright 81
head of The bureau u labor. with r.
all the data Of the anthracite coal &c
commission. declares the advance y,
"a be from ia 90 III per cent These i.
figures may be accepted as author -
Hall}e So
Advance lu wages follows in hi