In this manner the forex, while sustaining its high quality, has been vastly expanded; in order that the actual currency (counting checks) circulating in the United States to-day is perhaps one hundred times what it was in 1845. Banks and the use of checks also save the loss of gold price today arising from shipwreck and different accident, and, by storing it quietly in vaults, save the loss by abrasion which might happen if it were actually used in enterprise. Fifty years since comparatively little business was finished via banks. It's therefore tough to imagine that gold has appreciated fifty per cent, or to any other extent, within the face of this wonderful and steady production. But probably the most tangible and solid evidence that may be found on the subject lies probably in the history of the manufacturing of gold. However this may be, we cannot turn to any reputable authority which doesn't present that a large improve of wages has occurred through the previous fifty years in every civilized nation.
Hyperinflation might match or even exceed the occasion that occurred in 1923 Weimar Germany. This Frankfurt Parliament declared the black-pink-gold because the official colours of Germany and handed a legislation stating its civil ensign was the black-red-yellow tricolour. The quantity idea of money found its finest object lesson in Germany after the first World battle. If, now, money is getting scarce, and if, as our silver pals declare, the quantity of money regulates its worth, then interest must be three or four times as high as we find it. And yet, with locomotive whistles reaching well-nigh every ear in the nation, from lines of railroads having a mileage of practically one hundred and seventy thousand in the United States, our free-silver mates ignore their existence, and, on the basis of London prices in former occasions, construct up a purely imaginary farmers' paradise in contemporary America. On page 174 of the Report of the Director of the Mint for 1894 is a table giving an announcement of the annual product of gold from the discovery of America.
The annual product of gold grew to become practically twenty instances what it had been: and this fee of manufacturing has not only been considerably maintained, however is now displaying a rapid increase. Only a few days since I learn in a newspaper of the city by which I reside a table showing that the salaries of teachers in the public schools had had a steady average enhance during the previous four years; and the increase was not confined to anyone 12 months, but continued step by step by way of the whole period. The evidence afforded by wages reveals either that the money commonplace has not risen, as claimed, or that the working lessons have acquired an astounding increase of wages. While I don't declare that the fall of interest, which has taken place in Europe as well as America, completely proves that the value of cash has not risen, I do think it very good proof of the actual fact; and it certainly exhibits that the "bankers' conspiracy" idea of the free-silver men is without doubt one of the wildest ideas ever put forth by males outdoors of insane asylums. If, then, the mixed Shylocks of the world, together with the banks, England, and Wall Street, have "demonetized silver" in order to "nook money" and growth the speed of curiosity, there ought to be traces of it.
