The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1907-09-19
DEPRECIATION az aoLD.


The bond holders and the Wall
street magnates are becoming greatly
alarmed over the influx OF gold, and
are employing expert economical
writer's TO decry the yellow metal.
Proi Norton, Of Yale University,
suggests that congressional com
mission be appointed TO consider and
report upon the depreciation OF gold
and the remedial Legislation be start
cd at once. II In not far In the tut
ure when political campaign will
be fought out along the lines of 1896.
by manipulation chlcanery and
fraud silver was dcmonetized, and
the basic money OF the country was
cut down half
Since silver IL used only as a sub
sidary coin the production OF gold has
reached such IA iigure that II Is plac-
Ing the man with capital In the rel.
alive position that he occupied under
bimetalllsm, Under system In
which both gold and silver was used
equally as money the financial In.
terests OF Wall street could not con.
troll the financial affairs OF the eoun-
try. The farmer aud the producers
were not borrowers, but were In easy
circumstances. As soon as one OF the
valuable metals was destroyed the
rule OF Wall street was supreme, and
were In a position TO make times
good or bad as their interests would
warrant. Since the country has gone
10 u gold standard tho silver mines
have been abandoned and the entire
mining world has given It's ntteu.
ton 10 uncovering the vast gold do
posits OF the world. The result has
been that the per capita circulation
has Increased one.half In the paSt
eleven years, and the producers of
wealth are becoming independent OF
the machinatlons of Wall street, The
I 'foenaneeers" ind, with the ever
inctcasin. output OF gold they can no
longer control and corner the money
market as they have done In the past.
The rest of the country Is not dc.
pendent upon the money bags OF the
East. as the country is largely out of
debt. What we mean by this is. the
bpne aud sinew Of the nation the
farmer and producers of wealth.
Wall street can threaten of creating
a panic to their hearts content, as
such threats produce no effect. The
userers and those Who live exclusively
upon the income FROM the vast sums
usually loaned to the farmer have lost
THEFT power aud can never regain It
until they 0uee more get control ~
the Nuiumn af money, II the supply
OF gold, as mcney, should be cur
tailed, as The money power Will soon
urge upon congress, The national gov
eminent, and our courts will have to
take their orders from these parasites
just as they did when the panic vas
uselessly created in lSg1.
The writer saw a circular letter in
49, SssAN ~ bitt hAHhh AtNNt wan
street urging upon the banks to
tighten up the money market, as
val1e of silver must Ia destroyed by
the repeal ot the sherman law. Nest
OF our readers will never forge; the
hardships that this order brought
upon the country. Wall street made
miscaicalation, however. as the
panic got away fron them. and they
punished The people moro severely
than they intended to. This l. the
same condition II Is wished TO bring
about by urging on congress Ia tn
yestigate the depreciation OF gold.
There is no Investigation necessary
FOR the simple reason IL is as plain as
the nose upoG a.mau's face that
when the quantity OF money Is In