The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1891-07-24
lvssa ~ ussisasl Bsssssivs Silver connissss.
FACTS ABOUT SILVER.


92. 10 1908. France By lsw establIshed
the ratio Of l6l 20 !. which became The
IEuropsan ratio. A. the United States
st that time had but little power IN The
commercial world. the European ratio
prevailed, because, from 1908 to 1884, an
ounce OF gold IVES equal. in our coinage.
TO but fifteen ounces Of silver, while ft
was equal 10 fifteen and half ounces In
Europe; consequently gold mostiy went
ito Europe and silver staid here.
%. But by the change in our ratio 10
16 to l. the conditions were reversed, 90
that Is ounces of silver were held In our
coinage - the equivalent OF an ounce OF
gold. while fifteen and half ounces Of
silver we're equal 70 sn ounce Of gold In
Europe. Hence, silver went to Europe.
and gold. then the least valued metal,
Istaid here.
~. Had our ratio 10 1884 been made
l15l to both metals would doubtless
have remained In circulation here.
But 10 fact both metais, without limit.
were st that time in use - money some
where. and hence il made practically no
difference In the value OF coined money
whether both kinds circulated equally 10
Ievery country or whether one country
All there was Of both metals was in cir
cuIasion somewhere. and al there was Of
both metals was potentially money
Everywhere. Bimetalism consists in
the RIGHT 10 have recourse to both met
ale for money purposes.
IS. The conditions. however. we're
lchanged when the mints Of France and
other European States were closed
lagainst the free coinage Of silver on the
ratio Of Isl 70 ! Otherwise silver
would now 60 there, instead OF coming
TO our mints, even with tree coinage
here, because tho ratio Of Isl TO one ID
equal TO o1 333 10 gold for sn ounce Of
silver, while. on our ratio Of Is 20 !, the
value Of N ounce Of silver in gold IL but
tl 1929
e. Bot the coined silver Of Europe
still circuIstes there on level with gold
st the ratio Of I53 to !. or ol-33s en-
lounce 10 gold. Therefore, 10 sood such
lcoins here. IL we had free coinage, the
lowner must Iose the difference beeWeeo
I9l 333 and q 1929 on everv ounce; or,
Ito put Il in another form. 100 cents Of
the coins OF Europe would make but
86 IS cents IN our coins. This d enough
to preveot The silver coins Of Europe
!; from coming here q long g tho prooent
{ tdiGerence 10 rati0 exists.
q THE nA11o n ruDsA.
q -. II lndis she rafio b IS % I, and
Iehs 0Isss Of India are opou 20 The free
s'coi1ago Of silver q 6hss radio. An
I sslounco Of coined silver, tberefore, ID ln-
Z die, b equal 70 81 "a 10 gold, % shae >
dollar there wouId contain but 3ls. -
|: grains OF pure silver, against $50 81 IN
! Europe and 37l.26 here. Hence, 10 send
I the silver OF India here. q some f0olishIy
! assert would b done. Ioss ri nearly 8
! cents an ounce would be incurred.s
p. It is always profitable 70 send
! silver from Europe 10 India; and 10 the
. ..lextent Of the balance Of trade due 10 In
4 dis, silver goes there from Europe, and
!. IL cheaper silver bullion could not Be
!. had The silver coins Of Europe Wonld Be
! melted down 70 go-uos 10 The United
: States-bus 70 India.
THE PARITY or GOLD And sILvER.
! 20 From the adoption ~ the ratio Of
! Isl 10 BY France. IN ISIS, 10 the time
the coinage Of silver wss limited BY the
! Latin Unioni 10 1874. silver and gold
sieverywhoTe throughout Europe and
4: America on that ratio was kept q par
!, ity By the French mints, there being no
variation throughout this period not &C.
!. counted for By the variation in the ex.
Z changes and the cost OF taking one or the
= other Of the metals 10 the mints
!! The two metals were held together BY
= the free minlsge OF both on the ratio ol
). 15A to !. and the parity was broken only
when free mintage was denied 20 silver.
- -
limited In oil the States Of the Latin
:, Union in January, 1874. and in August,
! 1876. the coinage Of fve.frauc pieces
|. was stopped altogether.
/ tGERAAxY ADOPTS THE GOLD STANDARD.
81. In December. 1871. Germany de-
! creed the gold standard and commenced
the coinage Of gold and stopped the
coinage Of large silver c0ins- Before
4 this Germany had very little gold. but
!. had about e400OOO.O00 Of silver. These
Z silver coins were not demonetIxed until
J July, 1873. when the exclusive gold
/. STANDARD was established, With the mark
} = The unit. Silver was made subsidiary
! and limited to ten msrks for each ~
!. habitant. with legaI.tsnder limited 10
) twenty marks. Germany did not, there
I fore. fully demonetize silver ill after the
I. United States had demonetized IT,
50 Germsuy began the sale Of silver
, IN 1873 and continued Il 81 intervals I'LL
: 1873. during which time she sold about
! 1000 pounAs Of 0ns silver q from 59f
! pence 70 30 pence . ounce, when sales
1 .rss sslslsuos nay be sAovn 10 ssbular form g
foIlows:
S71k grains silver. ratio lsts1 81 leono eoId
: Hl< grsins silver. ratio 15ktoI o1ls gold.
551k grains silver. ratio l5tol l.ooeo gold
o. n he following FORM;
: o. silver. rattle ~ % ]. worth - eoH otso1D
silver. ratio isS % I. worth In goid x357
! o. silver, rssio Is % ]. vorh IN eoId ls7sl
4 Or agsns
Our silver unit. ~ 1S grains o1 - IL esI1
emit ~ France. 35o - grains - u eoId
nepes u India. SSs3e grains 10 n gsid
wh.cA Shows thss The silver unit cf The Usitst
eaxss hss mere silver n q. relatively % gsjd lhan
that q gurcps o. Isdia-
} 4Tbs STATES eoBprisirg ne Lads Crion. formed
- ioes. prsnrr Italy. Bsirru swtsxsrlard. sn1