The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1886-03-23


10 debts and obligations heretofore con.
tracted. Il set up a new standard, an
one, y 9, andard of one metal OF
forty-Hve hundred. millions OF mcnev
for the world. instead of a valuation
based upon eight thousand diillions,'
The gold advocates say, if Congress
is unwilling to Suspend the coinage Of
the silver dollar, let it be increased in
weight so that the ratio will be Is or ~
to /, something near the present msrke,
ratio This is not strange suggestion
from the source It comes, but the people
are too wise to be deceived by any such
scheme. France and other countries
which have bi me'allic standard have
expressed an nnwillingness TO change
their ratio of l5& to TO ours OF le to
/ What the result would be Of the
United States alone changing the pres
ent ratio 10 Is to l is obvious, and needs
no consideration. .T.-s.s,
What the effect OF the discrimination
OF the coinage of the silver dollar would
be, seems to he the thing in q iestion.-
In the first place 1t would contract, the
currency OF the country which would be
favorable to the money lender; for the
rate OF interest would be increased. 1t
Would place the entire currency. OF the
country on gold basis, and under such
c c,nditions the value of gold would in
crease, since the production is decrcas-
ing. The largest production OF gold In
the United States for one wear, was in
1853, estimated ut 865 000, 900. The
production for 1884. estimated bv the
Director OF the Mint was $50, 500, 900.
The production OF silver has increased
during the came time from $50, 900 to
848 800. 900. The amount OF gold used
in the manufacture Of jevelry Is estima.
ted at S100 600, 900 for the world, and
as the population increases With an i'm
probable corresponding increase In the
production of gold, the day is not far
hence when the use oi gold for this pur-
pose alone will equal the production,
and none will be left to supply the de-
mand for com.
There are innumerable reasons that
the United states should restore the BIZ
metallic standard, which can only be
shown by comparing the conditions OF
the mono-metalIic with those OF the bi-
metallic Countries, but space will not
permit 10 enter into ,details. Suffice it
to say that France is enjoying greater
prosperity than any country in Europe
having mono.metallic monetary basis.
A bill has been introduced into the
Lower House OF Congress known ss the
Compromise Bill by Gen. Wa-enf and
somewhat similar one, but less specific,
10 the Senate. bv Senator Sherman, pro
viding for the suspension Of the coinage
OF the silver dollar, and the issuing in
stead of certificates on silver bullion al
the market price to I've redeemed 10 coin
or bullion. This compromise measure
is perhaps the best that can be had Al
the present time; but the poor people ol
the United Sta,es--for great majority
OF our people b long to that c'ass-
should not cease their war on the capi-
talists-the mono-me,allists-un,il the
obnoxious. monetary legislation is en-
tirelv repealed. and the bi- metallic stan
dard restored with free and Unlimited
coinaQe. When this is done we NAV
reason nablv expect revival in branches
of business. and the whole nation viii
again enjoy the blessings OF the creates
prosperity. j. H. r.