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JAKUARY-li; 1907
he Commoner.
The Flood of Gold
15
While Wall Street is hunting for
gold and the United States govern
ment is helping the frenzied financiers
to pay a premium for its importation,
there is a fear in other quarters of too
much gold inflation. In the current
issue of the Yale Review, Prof. John
Pease Norton, of the department of
economics at Yale University, has an
article on the danger of gold infla
tion, in which he says:
"When William Jennings Bryan was
defeated in the year 1896 the world
believed that the advocates of the
gold standard had won a signal vic
tory by the decisive overthrow of the
hosts of inflation, whether by bimet
allic or by single standard, but in
the strange unraveling of the tangled
Bkeins, financial and political, it is
slowly becoming apparent that, by
a chance of nature or by an act of
God (according to the democratic plat
form of 1904), Mr. Bryan-, although de
feated, has gained the victory for in
flation, but without the honor, and
that the advocates of a stable stand
ard, gold, have gained the honor of a
victory, not only empty, but with a
sting.
"Government relief through opera
tions of the United States treasury is
both unsatisfactory and dangerous. If
such relief is afforded too early the in
flation goes farther and breaks most
disastrously. It is probable that Mr.
Shaw has already exceeded the bounds
fixed by political propriety and finan
cial wisdom."
This sharp rap at the favoritism
shown by the administration to Wall
Street influences, is a sign that the
economists, not blinded by corpora
tion contributions, plainly see the alli
ance of the republican leaders with
the banks and trusts and are now
discussing and' denouncing it. But this
diversion from his main issue of the
danger of gold inflation, does not pre
vent Prof. Norton from suggesting
remedies to regulate the production
of gold and tending to keep the stand
ard of values stable,, for he further
Says:
"1. Government ownership of the
gold industry.
"2. Government tax levied as a spe
cific duty on every ounce of gold pro
duced and adjusted in amount so as
to produce stability by limiting out
put. "3. Abandonment of metallic stand
ard and the adoption of a tabular
standard, supplemented by an exten
sive and adequate clearing system and.
international as to place and to vari
ations in discount rates by a system
of deferred clearings as to time."
He thinks the last remedy" the most
practicable and warns the public that
"if the metal, gold, shall continue to
follow in the footsteps of that recal-
DizzySpells
That dizzy spell is an important message
from the heart a pjea for help. ,,,
If this message receives no attention others
come; Shortness of breath, palpitation, weau
-or f aintintr spells, smothering or choking sen
sations, pains around the heart, in side or
shoulders, and so on, until it receives the nec
essary help, or is compelled to give up stop.
' You may furnish this aid by
DR. MILES'
HEART CURE
- whioh cures heart disease in every stage.
JSvery day we read of sudden deaths from
heart disease, yet it is a fact that the heart
had been pleading for help, and gave up the
struggle only when it hud exhausted the last
spark of vitality aud they call it sudden.
,. "For more than six years I was troubled
"With my heart. I would have dtay spells, then
difllculiy in breathing, choking sensations, my
heart would flutter, become painful. I could
. not breathe lying down. I commenced taking
.JDr. Miles' Heart Cure, and in a few weeks I
. .was entirely cured." .
t - MINNIE E. JOHNSON, Olivia, Minn.
,-. The nrst bottle. wMbenent, u not, uie urujf
Cist will return your money.
citrant sister metal, silver, and shall
fal as precipitately in the'imme.1 ate
future as in tho last eight years le
nat ons of the earth will shortly awalc
'ng interest "10ney I,rblem f llbS0rb'
It is hardly necessary, for a few
years at least, to 'discuss the remedies
pronosqd, for at tho present rate of
gold absorption the danger is hardly
as pressing as Prof. Norton imagines.
There is, however, the greater practi
cal question that is present, namely,
the great effect of gold inflation on
prices the world over and this increase
in tho cost of commodities, measured
in gold, with tho still further increase
in the cost of living, through tariff
protection to the trusts and protected
interests, is of absorbing interest to
those with limited incomes and those
whose wages do not rise in propor
tion to their necessary increased ex
penditures. "Wages are being in
creased, but not nearly as fast as ne
cessities are rising in price, and until
an equitable adjustment is arrived at
we may look for strikes of wage earn
ers and unrest of those with limited
incomes in an endeavor to make both
ends meet.
The republican plan of standing pat
until business is disturbed by those
unequal and oppressive policies that
the republican leaders declare "are as
near perfection as the mind of man
can conceive," is to invite disaster to
the business world. No wonder the
late elections show a strong trend
towards the remedial policies proposed
by the democrats, which is bound to
grow stronger as the desire for relief
becomes more intense. New Haven
Union.
THE FATE OF OLD BOOTS
"What becomes of old boots and
shoes has been almost as puzzling
a problem as where all the pins go
to. The solution, however, Is given
in today's issue of the "Boot and Shoe
Trades Journal."
"Old boots and shoes of leather,"
the Journal says, "are cut up into
small pieces, and then are put for two
days into chloride of sulphur, the ef
fect of which is to make the leather
very hard and brittle.
"When this is fully effected, the ma
terial is withdrawn from the action of
the chloride of sulphur, washed with
water, dried and ground to powder. It
is then mixed with some substance
that will cause it to adhere together,
such as shellac or other resinous ma
terial, or even good glue, and a thick
solution of strong gum.
"It is afterwards pressed into molds
to form combs, buttons and a variety
of other useful objects.
"Prussiate of uotash is also made out
of old leather. It is heated with pearl
ash and old iron hoops in a large pot.
The nitrogen- and carbon form cyano
gen, and then unite with the iron and
potassium. The soluble portions are
dissolved out, and the resulting salt,
added to one of iron, produces the well
known Prussian blue, either for dye
ing purposes or as a pigment." Lon
don Express.
COMPARISONS ARE ODIOUS
A prominent attorney practicing be
fore the supreme court was not long
ago, during a recess of that august
body, regaling some of his colleagues
with tales of humorous happenings
tin court, and among these was the
'following:
"There is a judge out in Missouri
who is fond, in an unobtrusive fash
ion, of relieving the monotony of the
tedious proceedings by his quiet, but
telling observations.
"On one occasion, in the court over
which this judge presides a certain
advocate, well known for his very
owery platitudes, was pleading
before his honor. 'As I stand at this
bar today,' declaimed this lawyer, 'in
behalf of a prisoner whoso hoalth is
such that ho may at any moment be
called before a greater judge than of
this court, I am reminded
'At this juncture his honor rapped
sharply on bin desk, counol stopped
suddenly and lookod up with nn ex
pression of interrogative protost on
his face.
"Tho counsel for tho defense- ob
served tho Judgo with groat dignity,
will kindly confine hlmsolf to tho ense
before tho jury and not permit himself
tho luxury of Invidious comparison.' "
American Spectator.
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