The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1919-11-22

gold, the problem of the cost of pro-
duction. Necessity has never before
forced the issue. That Government
price fixation cannot long nullify the
law OF supply and demand applies as
well to gold as to any other commod-
ity. Because of the arbitrary price
which has been fixed ON the gold
ounce, we are now confronted by
too limited volume to supply the ever
increasing demand and rapidly inten-
sifying necessity. At the same time
the production is decreasing with
alarming rapidity.
There is ample gold in this coun-
try to meet all requirements and to
maintain our present pre-e.ninent fin
ancial position In the world IL con-
ditions under which it can be mined
at a reasonable profit are created.
Such conditions can be had only by
the enactment of suitable legislation
which must be just to the gold produ-
Ger and fair to the public. The econ
omic pressure which has practically
paralyzed the gold industry must be
overcome in so far as 1t is affected
thereby.
Admitting that the problem is COM
plex and presents many seemingly
insurmountable difficulties. necessity
nevertheless compels a solution. Up
on its solution depends to a very
great event, the settlement of the
grave questions underlying our econ
omic difficulties. There is no other
cure for the imitation which IL dan
gerously fermenting the minds of
the people and causing the wave of
discomfort and rebellious feeling SO
prevalent all over the land. Theo-
rists may theorize. economists may
specialize and financiers may contrive
temporary expediencies but We will
still face the great big dominating
fact that no permanent settlement OF
the evils with which we are now beset
is possible and the grave dangers OF
the future cannot be safeguarded
against until a wise solution Of the
gold question is found. Preparation
for the day of reckoning must be
made and It can only be done by in
creasing the production of gold to
the utmost ounce.
II we are to maintain financial pre-
eminence throughout the world our
dollars must perform their functions
without the shadow of discredtt In
the most remote port as certainly as
they will at home. To do this they
must be dollars In fact and unalioyed
with Government fiat. Gold only
can make this possible.
While l am giving but feeble en-
phasis to the necessity OF increased
gold production. wish to sound
warning against those misguided or
false so called economists and proph-
cts who would have US believe that
there is already too much gold, that
its continued use as the basis OF cred
II as a standard of values, or as Sc
curity for circulating medium and q
medium of exchange Is nothing less
than the continuance of fiction, ana
therefore quite unnecessary. Tne
call of England for a credit to the Al
lies of eight billions of dollars with
In the next twelve months with wnicn
IN over come the evils of paper mon
ey issued during the war to meet
aasnerate situations is sufficient an
swer to every one offering a suosti-
tute for the gold standard OF money.
1t required thousands of years OF
progressive endeavor to lay the foun-
aation and create the great hnanciai
and credit structure which handled
,ha business and commerce OF the
world with facility and safety peiore
the war. During the war, story upon
story was added to the structure AZ
the form of forced credit. until the
foundation Is totally inadequate 10
longer carry the credit superstruc-
ture with safety. The foundation
must be widened and the structure
hraeed with supporting additions tnat
a. NAV not be blown over by the nrs'
wind of wayering confidence. Tnis
can he done only with additional
gold. 49, ..ra,ght
Every man who thinks stralsn'
financially, who places the sacredness
of created obligations ahead OF 'ne
mare possession of dollars must ADMIT
the necessity Of increased so'1 ~