Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1917-02-22
THURSDAY, FEBRUARY p, 1917.
SENATOR duPONr AND THE HIGH COST OF
LIVING

~xOL HENRY A. DUPONT senior United States Sem
" ator from Delaware made a short but forceful adj
dress tho high cost OF living in the Senate Mon
day IN the course of debate in which several Of the
leading members OF that body participated. lie said:
saIr President the problem as TO the high cost Of
living is solved in nj least one respect We longer
hear the five years ago. that the high cost
Of living Is entirely due TO the former protective tarin.
That was the doctrine cnunclated by the successful
candidate for the Presidency nj that time and by the
orators who supported him. The truth Is, IN my opn4
ion mt least that the high cost Of living is due largely
TO natural Cause that being the abundance Of
gold In circulation. Never before IN the history OF the
world has there been much gold in circulation per
capita and gold Is the yardsck by which all values
ann measured il is inevitable that when IL is very
abundant the prices Of other commodities enhanced
because gold by OF It's Suerabundance is grad
ually cheapencd.
'eIhs Is not a new experience in financial history.
The same phenomenon occurred in Europe after the
discovery Of America Whom about 1890 the Span
iards conquered Mexico and ncru they seized sent
bnck 10 Spain hitherto undreamcd Of stores Of gold
and silver, the precious metals very arti-
Cles in the Old World during the Middle Ages. When
these treasures arrived in Europe prices Immediately
began TO rise and in the year 1872 the price every.
thing In France at least had increased from live 10 SIX
times. I have read very interesting memorial on this
subject, which addressed 10 tho French Govern
ment in those early days. The author described the
enormous rise in prices and gave many reasons which
hold good today, cnIargng particularly upon what /
hold the true reason, which the abundance Of
gold in circulation. He then proceeded 20 discuss other
for the high cost Of living such the increase
in luxury, and finally wound up by insisting that
conts1butory cause because the King Of France
had failed TO put an embargo breadstu6s leaving
the Kingdom.
'Mr. President, shall not object to any inquiry as
10 the existence Of any combination or other abuses
connected with the high cost OF living. On the con-
rary, favor all such measures; but in my opinion
all prices will be substantially higher than they have
been for many years past long rs superintendent
gold supply Is In circulation throughout the worIdv
That uerance indicates clearly the seriousness and
depth Of thought given 10 great public questions by
the senior Senator from Delaware. lt cannot fail to
attract nationwide attention and to direct thought
relative TO the increased OF living into new and
profitable channels
Nor his pointed reference TO the fallacy of tn,
Democratic contention OF ye years ago that the hgl
cost OF living due to the protective tarn fail t.
have wholesome effect upbn the public mind
1t is a notorious fact emphasized by dollars an,
cents spent by American the necessare
oflife that the cost OF living is much higher under
Democratic low tariff than il was under the Republi
can high tariff. In time to millions OF Ameri
consumers doubtless will manifest at the bello
box their resentment OF the Democratic deception
that practiced upon them