The Washington times., 1910-02-06
GROWTH OF POPULATION FARMERS METHODS
ARE HELD RESPONSIBLE FOR UPWARD JUMP IN PRICES OF
THREE CAUSES ASSIGNED
FOR INCREASING PRICES
Tariff Careessness of Housewives and Other Reasons
Frequently Held Responsible for Cost of Living.
Absolved by President Brown.

reeentiyl said IN paper on this impora-
ant subject.
.Paradoxical as it may first appear
this increase In the worlds production
Of gold means higher interest rates. This
+ would seem TO be contradiction. since
I the proposition is: that progressive in
! crease in the amount of money viii re-
suit in making It necessary TO pay a
: higher price for the use Of money
In its last analysis, however. the
( thing loaned by the bank or capitalist
rs simply commodity, the value OF
which is fixed by the amount Of other
necessary commodities for which II can
Z be exchanged In order 10 protect him
self, therefore. the lender must endeavor
to exact In return, a. thu Maturity Of
the loan, a sum that viii equal the pur-
chasing power Of the money at the time
! IT. was loaned, and, in edition thereto,
the usual rate OF interest
This influence viii have comparatively
little effect on demand saS shOrt-tine
loans, but must very powerfully affect
the rates on long term bonds. such as
the railroads must sen 10 provide money
j for construction and Improvement
Gold Production
Likely TO Increase.
Every visible indication points 10
continued increase IN the production Of
gold
Prof Z. ". Parker, me expert in min
ing and metals Of the United States
Geological Survey. says:
Il am assured that the worlds gold
production to this date : not sufficient
to scratch the surface OF the huge re-
serves that nature has scattered all over
the earth
Sixty-one years ago. the discovery Of
Gold IN California. drew muItitudes TO
the far-Of country. and they fooled pain
fully past the rich fields OF Tonopah.
Rawhide. and Coldfeld, little dreaming
that they we're passing UHdeVeIoped gold
mines richer than any that awaited them
in the western slope Of the mountain.
a decade later the slopes Of Pixies
Peak swarmed with men drawn BY the
reported discovery Of gold, and the
plains from St Joseph and Omaha 20
the foothills we're dotted with caravans
bearing that once famous legend,
Pixies Peak OF bust A generation
afterward Stratton developed the IN
dependence mine" the Cripple Creek
located under the very shadow Of that
lofty peak, became the richest camp on
the continent
The production OF gold. once a matter
OF indefinite search and great hazard.
the dream OF the adventurer and the
argOnaut, has become a matter Of al
most exact demonstration By the en-
gineer and the chemist Improved ma
chinery, enlarged knowledge and use OF
chemical processes for treating refrac-
tory ore. and, above all, improved trans
portation facilities. have made mining
properties that without them would be
worthless. the richest, most dependable
gold producers in the world
Billion a Year
Gold Production Promised.
one whose experience. observation,
and study OF the subject entities his
opinion to great weight, recently said
The experience IN recent years. to-
gether with the knowledge that science
has given concerning the distribution OF
gold-besring ores, seems 70 justify the
prediction that before the middle Of the
present century the worlds annual pro
duction Of gold viii be worth q round
billion dollars"
What it win meaENif this prediction
shall be fulfilled can 81 some measure
be COmprehended WREN it Is remeul-
bered that the worlds to-sI production
Of gold from 1892 down % 1890 Is sp-
proximately thirteen am One-half bill
lions Of dollars. Thirteen years VIII
produce almost as much gold as has
been produced in AS years Who would
attempt 70 predict the effect Of such q
condition upon the price Of labor and
commodities during the next twenty-five
years2
Unquestionably this great increase in
the production OF gold has powerfully
Influenced the values OF everything in
which men deal. and III continue to
affect them so long as production con
tinues 70 increase, or continues at its
present volume.
The Increase in cost. so far as il is
produced by the increased volume Of