The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1906-10-24
THE COUNTRY'S ADVANCEMENT.

Mr.. Roberts, director of the mint,
has put out an article on the rise of
prices in this country He admits
that the money in the country has
increased in volume so per cent in
the past ten years, but he seems un-
certain whether that has advanced
prices or not, but inclines to the be-
lief that it is the enormous industrial
expansion of the country that is
mainly responsible for it. Evidently
Mr. Roberts study of political econ
omy has been limited, else he would
not get cause and effect so confused
in his mind There certainly has
been a marvellous industrial xpan-
sion, but that has been but natural
result from the 90 per cent increase
of money But all that is not worth
argument. An unavoidable law fixes
that. Prices advanced and recede
with the increase or decrease of the
money volume in circulation in
country. 1t has always been so and
must always be so. and strangely
enough the last thing to be affected
by il is the labor that makes the in
crease possible.
In another paragraph IT. Roberts
declares that interest rates have not
gone up because the cost of living
has increased, but because the de-
mand for money is greater than it
has been.
That, we suspect, is true and why
this demand is question which
financiers, and especially those who
loan other peoples money, should
make morning and evening study
OF course new roads are being built,
old ones rebuilt, new factories and
great buildings are being erected,
but they do not account for the fact
that New York City banks We're fore
ed TO import perhaps s50,000,600 a
few weeks ago. Our own belief is
that there was never a time in the
history Of our country when there
was such a rage for speculation as
there is right now.
Men are trying 10 get more inter-
est on their money than can be OBJ
tanned in the usual channels, and
dealing II futures has grown to be a
grand passion.
And the encouragement for this is
very great because it is a clear case
ton crops are sold, and when the
products of the mines for the year
shall have been converted into mon
ey, il will all mean that the wealth
of the country for the year, has been
increased 1000 millions of dollars
a sum sufficient to found an empire.
Then the increase in population in
our country, the natural increase and
the increase by immigration, will
make it necessary to add quite 800, :
600 houses to those already built;
there will be 100000 more people
to clothe and feed; there will have to
be added cars on the roads to trans
port the increase. and new roads for
extended trade.
Looking these facts over farmers
will reason that a few more acres OF
wheat will be needed next year,
planters will hold 1t safe to raise a
few more bales of cotton; manufac-
turers will count on the need of more
mills, and with each the proposition
will involve the employment of more
iaborers
And the vital force, the one great
tonic throbbing with almost unnat-
ural life, is the steady reinforcement
of the money supply from our west
ern mines.
The question is. how long can the
country keep up the present pace?
The Old World stands aghast at the
spectacle One English journal con-
temp1ating the onward sweep of our
country sails II "a monster"
Certainly there are no symptoms
- Gle 10 At
nmph OF some sinister political policy