The Owosso times. (Owosso, Mich.) 1897-1926, 1912-09-20
That is. 1t is gold and credit based
upon GOLD

upon SOl1.
Fourth-the gold production OF
the world for 1896 was $2O3,251,-
600, and the gold production of the
world for 1910 was $435, 900, OOO-
an Increase of more than 100 per
cent in fifteen years.
Hence scientists say since price ia
the value of commodities measured
IN money, ami since money has in
ereased in quantity and has become
cheaper In its relation to commodi-
Ties, therefore it takes more money
TO buy commodities and prices are
necessarily higher. g *s
Another cause of high prices, oil l.
er and more memorable even than the
cumulative theory of money. is the
law OF supply and demand. We have
higher standard of living now than
ever before and We are more extrav-
agant than ever before. The cost OF
high living is largely responsible
for the RICH cost OF living.
Is
To meet the increasing demand of
an increasing population AMI an in
creasingly extravagant population,
the products of our farms are not
sufficient, Notwithstanding that they
Yielded last year, $9,0OO,OOO 900, an
Increase over the yield of 1908 of
$S6S,O00.0O0. Between 1890 and
1910 our population has increased
about AZ per cent, and by an esti-
mate by the secretary of agriculture.
beef cattle have increased only
about Is per cent; milk COWS >32 per
cent IS So
Surely the administration of Pres
dent Taft cannot be held responsible
for this state Of affairs. Everyone ap-
preciates the greatness of our presi-
dent, but no one suspects that he has
power to amend the law of supply
and demand. ~
| present President Taft tonight
not only as great progressive in
his legislative achievements, but in
the unparalleled progressiveness.
wisdom rud power of his diplomacy.
When the historic friendship exist
ing between Japan and the United
States was endangered through a.
misunderstanding upon the part Of
Japan Of the real spirit and purport.
of our immigration laws, it was
President Taft who settled that prob
lem without prejudice, bitterness or
the slightest lingering irritation.
Now then, Is he a progressive?
Furthermore, present President
Taft as progressive in the exemplifi-
cation of the spirit OF American de-
mocracy. No truer, greater demo-
crat has lived in the White House
since Abraham Lincoln. Simple,
modest, plain, straightforward, un-
assuming and unpretentious, he does
not look upon himself as a dictator,
or indeed, essentially exalted above
his fellow citizens, and therefore, he
walks among them, one Of them, ac-
quainted with their struggles, ideas
and ideals, absorbed in their highest
good, and all the while seeking op-
portunities to enlarge and enthrone
the common good. He Is a common
man, expanded to colossal. proper
tion:
My fellow citizens, we are not
ready as nation to dispense with
the services of such leader His
work is not yet finished. His career
as president Is not concluded. Great
problems await his solution; vast
tasks his thought and attention.: and
indeed, this new era OF law and der
and constitutional authority. bust
ness prosperity and commercial SUI
rremacy, peace On earth, good will
to men," now depends upon the YER
dict of the American people In the re-
newal of the commission Of William
Howard Taft to carry forward the
work he. has so auspiciously begun!