The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1919-06-19

OF course, there were numerous Gu
mulative details and incidents standing
lin at the DEATH all of which have
been painstakngly narrated by the writ
er in previous articles and need not
here be rehearsed.
Since the death of Old Gold Stan
dard the business of this country has
been transacted on-pardon an express
sion so raw that it bleeds-'CarranZa
money"
But it is quite impossible to trans
act the complicated mass of business
of today safely or at all satisfactory
without a stable standard of yalue--a
yardstick to 20 by.
Action by Congress Imperative.
Therefore, the establishment of a
new gold standard must be the first
step in reconstruction and is, in fact,
the most important and most urgent
matter demanding instant action by
congress, because reconstruction can
not really begin until workable and
stable monetary standard is fixed.
The evil effects in our northwestern
states of transacting business without
Il gold standard are painful and i'm
lpressive. Mining is in u chaotic state.
The most experienced operators are at
sea as to what is going to happen next
in their business.
Gold mines are, with very few eXcep-
tions, closed down awaiting the estab-
lishment CT a Lew gold standard.
Zinc mines are nearly all closed
down indefinitely because Of low prices
for ziuc and practically no demand
Many lead and copper mines are clos
ed down indefinitely or operating at
: greatly reduced capacities. Stocks of
copper and lead are corded up by the
j acre. there being little or no demand
, for those metals even at low prices.
' Future is Uncertain.
Q Leaders in all departments of indus
$ try-men who do things and ordinarily
lead with tireleSs energy and fearless
. observation-disclosures now, without excep-
o ton. cautiously resting on their oars
I a state of affairs most amazing and
g startling. never before experienced In
G the great northwest They distrust
l. the immediate future The very bust
q ness air they breathe seems surcharg
q ed with mysterious financial perils
] They realize that our financial fabric
e now rests on shifting sands. The usua
y intrepid courage falters, hesitates anC
Il appears confused. They are swayeC
n by total lack of confidence and filled
k with apprehensions aDd misgivings ant
II withal an overwhelming doubt as t,
7. whether reconstruction is to take Dlac,
Fl through orderly processes or be bull
d. on the wreckage of financial world
panic.
II The monetary situation is such tina
the latter dread announcement is Ger
ie tain-unless congress takes speedy .aC
Is tion to establish new gold standard
le The fixing of a new gold standard
x necessarily the first step in orderly pro
ie cess of reconstruction. We are nov
VI drifting aimlessly on tempestuous sea
u. of finance with no fixed standard mea
~ sure of value, no monetary standard
=, we are truly aboard the phantom shi
AZ in stormy waters without chart, rud
y der, or compass.
!. The accumulated experience of mar
= kind has taught us the Fundamental
y truth that real money must possess tn
lh attributes of wealth. 1t must be use
a. full, portable, transferable, limited /
~ supply, have a high value in small hui
10 and be of the same uniform qualit
Sc throughout so that one unit equal
IupcT IL llul money.
pre-eminence of gold as real money
universally acknowledged.
=. Strikes and Rising Costs.
= Here, in the city of Spokane, strik
= OF transfers anG chauffeurs has ju.
q been fought to a finish: the bakers an
4 walters have waged bitter strife Il
= better than the high remuneration
=. war time; many sympathetic strikes
]. other unions are threatened and strik,
4. of similar nature are going on thu,
out the northwest.
- The cost of living has steadily rise
: in the northwest during the last fo,
N months and is still rising. The fiol
MI millers have recently raised the pri,
I'LL of flour. The canneries have recent
HI given upblic notice throughout the we
Ill that all canned foods will be high,
Hi this year than last. Restaurant az
Hi hotel proprietors and dealers ha,
III raised the price of many foods with
III the last 60 days. The cost of clothiI
II is appreciably higher than before II
iii armistice was signed, and dealers d
HI clare 1t is hound to go still higher
Hi All these sinister conditions al
HI many more of like import are stray
Hi showing the current of general busine
running strongly in the wrong dire
iii tion and presaging ultimate financi
collapse, unless the first step is prom
Ill ly' taken In systematic reconstruct,
by establishing a stable standard
value as a safe and permanent gu
Hi in the transaction of business On
iii habit, custom. and cautious CONNER
iii now prevent the rapidly increasing
III nancial tension from bursting ,
bounds.
iii New Standard First Stem.
Hi Sterilization of industries. yalu,
and prices is necessarily the seco
III step in methodical reconstruction and
is rendered possible only by taking t
first step-the establishing of II,
III gold standard
III In order that We may have COZ
mon stable medium to facilitate G
II change and through which exchanp