The Findlay Jeffersonian. [volume] (Findlay, Hancock County, Ohio) 1870-1881, 1877-09-21

VET. bGts however. i l+E sC-- AtDs VI
ranf than that we maintain our right
t. the aid OF silver in raSumiag specie
Dayments a12 in paying our debts
These two reasons have small Influence
with France, which has no foreign
debts to pay, nor any silver mines to
work. Her writers. therefore. Ike the
English, may we'll be expected 10 have
but faint apE pEreciation of our ease.
Our people are also divided into two
classes. according - their Individual
interests-that i. Into creditors and
debtors. The largs creditors are much
more likely TO join in the crusade
against silver than those wEo have
large debts TO pay. Hence, We witness
powerful efforts 10 form public cpin
ion Oh the subject. and the press i, 10
a large extent. controlled by the au
thor!ty Of wealth. liz large cities, where
the money poAsr is mo-; felt.
The general cbj-ct should be TO have
each metal coined az its iu;riI sic value
that DO b metals may be retail ed in
our circulation This. tiie opponents
of silver say, is impossible, but it can
be done as well as it has been done in
the thousands of years of silver coin
which have passed. 1t has been said,
by way of encouragement. that We
have been unfortunate in our past eX-
periepce, because We have sometimes
4 little overvalued one metal, and
sometimes We have overyalued the
other, and have been able 20 have in
full circulation bat one at time. 1;
Is desirable that both silver and gold
cola should circulate at the same time.
and | am persuaded that such Will he
the case. 20 d large extent, Il tie old
dollar was restored aud coined freely.
France keeps her gold aud silver coin
in full circulation, az II ratio of fifteen.
aud one baIf TO one, thus valuiDg sill
yer at three and one third per cent.
above our standard. which is sixteen TO
one. Ye; her gold does not depart
from lie country. She would not
take our silver. for the reason that she
has what silver she wants, and limits
her coinage Of silver. She holds both
silver and gold in convenient proper
tons.
Germany, it is supposed would Hood
US with silver But the silver that
Germany has is an unlimited legal ten
der. IL has only stepped its coinage,
and do not believe that If the Amer
lean Government shows that IL Intends
tn stand firm, Germany Will be willing
to part with her silver at nur ratio of
sixteen to one. We have reason -
expect that our silver coin, with its
ratio OF sixteen to one, will regain a
part of the value lost by the deIuoneti-
Z4tion and TIE general war upon il, aud
/ that as il was before -Lree and one
third above gold it will now rise TO ar
with il By the time we shall have drawn
from the silver market 800 600, COO or
/ $50. coo, 900. which will not be more
: than reasonable supply. At any rate
I it would be grave wrong 20 ourselves
| TO permit our silver coin TO be dep-e-
ciated below its Intrinsic value by the
adverse influence o our creditors, with
ont All effort 20 maintain it, And a:
| il j. obvious tha; our reconciliation oi
silver 1t tie old ratio would raise it:
value with gold, we should not give M
III that disadvantage.
Nor i there any danger OF Unlimited
coinage IL would require three yea
to coin reasonable supply OF silvel
for one Laif Of our metallic currenc!
after the resumption of specie pay
ments. Meanwhile It's tendency vii
be upward. Ii there should ever b'
any occasion to interpose by law Il
rest7ic: tie coinage. which do not be
Iieva, It cauld b. done when we hav'
become rs vel. supplied with silve
coin as Fraace and Germany now are
! II France had 40 more silver coin thai
we have she rOuid not have though
of restricting the silver coinage.
4 But if it should turn out that on
silver is really overvalued, which | d.
not believe, the ratio itself can b
changed alters full opportunity Il
observe the course of exchanges, an
the effect of reconciliation. As silve
was MT cyervaIued in 1873 and 1874
when it was denonetiZed, and as til
new product of silver has since tha
time been less than that of gold, th
presumption is that it is not Overvsl
ued now, and we are bound out OF
decent respect for our selves and Oh
National iuteresisto try it.