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

MIR. 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 80 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
Nj Roberts study of political econ
omv has been limited, else he would
not get cause and effect so confused
in his mind There certainly has
been marvellous industrial Xpan-
sion. but that has been but natural
result from the 80 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 a
country 1t has always been so and
must always be so, and strangely
enough the last thing to be affected
by ii is the labor that makes the in
crease possible.
IN another paragraph II. 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 aid why
this demand is question which
finaneiers, 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 10 import perhaps $50,00O,000 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 TO get more inter-
est on their money than can be OBJ
tanned in the usual channels, and
dealing I futures has grown to be a
grand passion.
And the encouragement for this is
very great because it is a clear case
that when the wheat, corn and cot
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
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, ;.
coo houses to those already built;
there will be 100000 more people
to clothe and feed; there will have tc
be added cars on the roads to trans
port the increase. and new roads fol
extended trade.
Looking these facts over farmer.
will reason that few more acres Of
wheat will be needed next year
planters will hold it safe to raise {
few more bales of cotton manufac
turers will count on the need of NOR,
mills, and with each the proposition
will involve the employment of NOR,
laborers
And the vital force, the one grea
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 tn,
country keep up the present pace
The Old World stands aghast at tn,
spectacle. One English journal con
templating the onward sweep of GU
country sails It "a monster"
Certainly there are no symptom
Of its slowing down, until the tri
nmph OF some sinister political polio,