Telegram-herald., 1890-07-08

ought 20 30 employed are called mono
metallists. or onc-metallists- Those
who think gold alono should be used as
the legal tender money OF the country.
are called gold mono-metallists, and
those who desire to use silver only are
called silver mouo-metallists.
The gold mono-metalic countries
mako gold legal tender for the payment
Of al debts. while silver is used only as
a subsidiary coin. Silver mono-me-
tallic countries make silver the only
legal tender.
Great Britain since 1915 has been a
gold mono-metallic country. silver be-
Ing used for small money and as a
legal tender 70 the amount Of about $40.
or e2
india IS a silver mono-metaflic coun-
sry, gold being an article OF merchan-
disc and not legal tender.
Franco is double standard or BIZ
metallic country and has gold and
silver in about equal quantities, having
5000 600. 600 OF gold. while Great
Britain has only $3.50. 900. OOo Great
Britain has 500. 100000 OF silver, and
France has between ST0o. 600. 900 and
$500. OOO. 900, and some claim even more
than that amount
The population OF Great Britain is
s5.241. fs2 France has a population Of
Ss.2fs,90S.
Tho United States has always been a
double standard country except during
the period between February l2. 1873.
and February %. 1873 The United
States has about S6s4. 600. 900 of gold and
about s435, GOO. eco Of silver.
About one hundred and thirty to one
hundred aud forty millions OF the peo-
pie ot the globe arc inhabitants OF
gold uo0o-metallic countries. and the
rest Of the world either belong - the
silver uono-metallic countries or 20 BIZ
metallic countries. 30 it will be OBJ
served that about about nine-tenths OF
the population OF the world that use
money use silver. or silver and gold "a
legal tonder. Many Of even the gold
nsono-uetaliio countries must use silver
"a subsidiary money. gold not being fs
tomake snail coins Of, like half dollars,
quarters and dimes.
b. ratio between gold and silver IL
meant tho relative value thatone kind OK
metal bears to tho other When We say
the ratio between gold and silver is as
one 60 GfsCeaanl ouc-hslf, We mean that
fffeon ard one-haf ounces Of coined
silver will exchange for one ounce Of
coined gold This relative proportion
or ratio was frst fixed by the merchants
ard traders. and VAS afterwards estsb-
lshcd ~ law. The first accounts of tho
fixing OF tho ratio are somewhat con-
fused Bus we know that the ratio was
fxed i- England as early as 1857. and Al
different tlmes later by royal procIama-
zion. 1nt in France En- l-s5 an 1904
-hr radio fxod In France in t7s5 and
1888 was chat of one Co fifteen and one
hrlf ard this has tccu called tbe
r-r-,ch raHo p was the prevailing
rafia ~ Europe for leTal-tender silver.
tl- rot for subsidiary silvCr Fer this
t rrtfs has been i0ss. ca low az enc
ts ttl-reer ana one % f0vrteen. and ir
s-c countries even stili less. India
las 8 i---e amoult of silver. and 10
rst3 there is diteon to ere.
~hr ratio n thfs rounf-T vas frs'
rI sti -o -. ard that being too low
vras aa erer-vallaticn 81 silver and AZ
F.-- ..s.r "a,
80 roIg wrnr 70 rne corn1ri--s r~s-rr r.
vas rafaed more b highly when compared
w lrer. ard we we're. in fact On a
-ver basis. vhiis. sccsriiaE - law.
$40 errfovet tie double standard IN
va rhangr3 chr ra-f1 t7 to ~ or.
g. q exact. -o Z -s fl "a Teen 80 nr.
se-r-fresl silver led evervalued roId.