OCR Text |
Show H Gold at a. Premium A BItY eminent publication has an article on B V the world's finances in the course of which, Hj after reviewing the situation in all other great B countries, it says: "Gold is at a premium every- H' where except in the United States." aBj Why does it except the United States? Gold has been at a premium in the United States all the time since 1907 at least. That is if a man has any form of property and " wants to exchange it for gold, he finds that, measured meas-ured by gold his property is at a discount, which means that gold is at a premium. It is no longer a fair measure of values. No longer a sufficient circulating medium for the world's business. Men do business through the medium of checks and paper promises to pay, but when it comes to exchanging any form of property prop-erty for gold, the gold is at a premium. Suppose a man owns a lot in Salt Lake, improved or unimproved, un-improved, and is obliged to sell it. If the property prop-erty is on any but two streets and they only for a few blocks, he finds out very quickly that gold is vastly inflated. But Salt Lake is a growing city. All the indications are promises that property prop-erty will in five years be worth much more than at present, but that makes no difference and that it does not is proof that there is not gold enough '40 to go around, which makes clear the statement that it is not a sufficient circulating medium. This deficiency really makes depression and hard times from Maine to California. |