Show liE HE DOESN'T FEAR OF GOLD Mr Roberts Looks for no Sensational Sensational Sen Sen- Increase Yellow Yellow Yellow Yel Yel- low Metal FLOOD CAUSES NO WORRY E Would fouls lime hate B Been Hern JI Impossibly Without Enlarge Enlargement ment l Reserves HoI Washington lashington Mar 11 ll- ll Nn 11 Xo o apprehension ion slon need ll be felt lit nt the Indications of an n Increase c In the gold goM output o of the time world orld according to George E E. Roberts director of or the United States Slates mint Mr 11 Roberts does not den deny however that the he effect of the Increase would be felt elt to 10 n a marked markell degree e within the next few f ew years When we wC eon consider that It Il Is less lew tho than ten len years Cars since a a. most formidable able attack l yeas was made matle on the hold gold standard on nn n the ground that that metal was wo too carce scarce to serve er as S a foundation for fol forur our Gur ur monetary system said Mr Mi Rob- Rob erts the change chane a which has ha taken talen Illace lace during the Intervening time Is remarkable Th The present stock lock of oC gold In the world In hl use as mone money noney Is estimated b by time the bureau of f the he mint In round numbers at Of or this about ma may be said to he be In sight In the hold- hold holdIngs Ings of bunks banks of Issue which make official official of of- tidal reports report nail and In public treasuries If f we Wl estimate the era a average e production of f the time next twenty years ear at nt 00 and the consumption In n manufactures tures ture ures and the arty art at al th tin the entire stock of gold In monetary use URI be doubled In the tho next twenty years ears This i is a con conservative er e estimate of f the Increase Some people look lonk foia fora for foi fora a much larger Increase and sonic some even ven think we arc are on the eve of a veritable deluge which will twill threaten the stability of f monetary systems and perhaps fore he time of gold old Not Causing ln Much hUh Alarm I do not look myself for nn any such uch sensational developments and you OU will notice that the Idea that the world ma may suffer uffer fr from m a n Mood flood of money Is not noi causing an any very Intense or widespread a alarm Most Io of or us have never nevel beer heer 0 over 01 1 our knees In that 1 kind of a door and the average man would want if it about chin deep before he would en cry en enough ugh There can be no question that this thi great Increase in the supply of basic money noney mone the foundation material of 01 monetary systems and the entire fabric fabric fab fab- ric of credit will have ha an Important influence upon affairs Its Influence has ms already been felt Such an expansion ex of business as has occurred II IP IPhis this his country In the last ten years rears not In hi the natural course of events event have o occurred without the enlargement of bank reserves There is If no mOIl mor Interesting subject of Inquiry than th the effect of this golden stream upon th all the varied relation markets t-l t upon if if lC Individuals and classes and and upon the social life liCe of the people Too TOt Jhu Much h Gold Cold An All foUIn Evil C In so far a as an enlargement of oC the monetary stock and the tho expansion 0 o. o credits cre which accompany It support to growing c Indu Industries and pro mote moto n a natural and orderly dev develop development lop ment tent of the worl worlds world's s 's resources It Is good thing timing But nut when every ery man I at work worl A when Ahen hen all nil th the productive force of society are In full hill action you cat cai not male make th time the world richer by hy mone money into It It You reach the the- polo then when every addition means dilu lion when the supplies can ont only ilni employment by 1 reducing the value alu o 0 I he the the old oh stock When hen this occurs nil all th tim relations hn tensed based ed upon the terms term o 0 none money are disturbed sp speculation In Instead Instead stead of Industry try Is promoted l t-conom t is Ic c waste and adventure run riot riol ant an aim It t all ends in tn a collapse that demon demor mol apses the whole Industrial system On Ou Onn In hl n Dubuque last summer I 1 rod 1011 through cornfields elds which were laid ou oun In n town lots in hl I 1867 S and an nn siv Issue of or wildcat banknotes stimulate a like bubble prosperity finally Finall we C recognize that our ampie am amle ampIe pIe le supply Is so oIO peculiarly and anti convertible a forum form of or capital agold a agold I gold plays an Important tant part In tin worlds world's development e Let Ll It n be he a nh said Id ho however that It I Is as a n tad ind lubricant l and not as m an nn ultimate form of or wealth |