The times. [volume] (Richmond, Va.) 1890-1903, 1891-11-22
the SILTEK QUESTION.
Discussion OF 1t From the Standpoint OF
Science.
Editor of The Richmond Times


Editor of The Richmond Times
If any question which has been brought
prominently before the people in "A recent po
litical canvass can DO discussed in calm
scientific spirit il should be the silver cues
ton. Both of the great political parties have
10 State conventions pronounced III favor Of
2 the unlimited coinage of silver. and both have
pronounced against It,
propose to look at this question from the
standpoint of exact science, and TO apply TO
1t some of the fundamental truths of natural
science. You may naturally ask what these
deductions have TO do with the silver cues
ton. They are but the opinions of 5the theo-
rist upon purely practical matter Yet
nothing can be more practical than the con-
illusions OF natural SCIENCE for they rest upon
the eternal laws of the universe. and are
verified by the every day experience of man
II there is any we'll established fact amongst
~ is impossible tor two scientific men 10 ac-
cnrately compare the results of their labors
without the use OF an ultimate unit Of weight.
an ultimate unit of measure. By concurrent
action they can make this unit what thew
will, but by no possibility can they have more
than one ultimate unit of weight, one ultimate
unit of measure.
Every country which has risen above the
savage state has Is bureau of weights and
measures. and its ultimate units of ,voiobt
carry on the trade of n nation with perfect
equity without these units. As il is not ALWAYS
convenient 10 exchange tine products of orr
own labor directly for the products of the
labor or some one else by weight and meas
IRE alone, 1t has been found necessary IN
establish IN addition TO a system az
weights and measures medium of
exchange called money. A nation can. with
perfect equity. no more carry on its trade
without an ultimate unite of value than it
can do so wthoutits ultimate Of measure. and
Its ultimate unit of weight This has been
verified by the practical experience of all ma
tons, and IS not simply theory. No country
mas successfully maintained a stable and
equitable medium of exchange with more
than one ultimate unit of value.
A nation can, 10y the concurrent action of
Its people, establish for itself any ultimate
unit Of value 1t may choose IT can select
simple metal, like gold or silver. or both gold
anu silver. In certain fixed proportions By
no possibility can both gold and silver be
made an ultimate Unit of value except in GER
tam fixed proportions. SO soon as a country
authorizes the unlimited coinage of both gold
and silver 1t at once makes both its ultimate
unit OF value land must fix ratio between
the two.
This again has been verified by experience
No country has vet maintained the Unlimited
coinage ot both gold and silver, and been
sole 10 make the two metals continue To cir
oulate. the silver coin remaining as valuabl.
IS the gold coin. IL Is not difficult TO see why
this has been the case. If the trade OF
NATION was confined to its own borders II
would oe an easy matter 10 establish this
ratio, end 10 make both gold and silver an |
ultimate unit OF value. 1hisis never the case
No country has ever yet been able To |
toroe us ratio OF the two metals upon |
the countries with which II trades. Great as |
are the resources of the United States no one !
who realizes what the volume of the trade of |
f9e worlds will admit that We alone are able |
10 hT tins ratio. Until we are able TO do this
or can induce other nations 10 Join with us in !
dong SO, wo cannot hope to authorize the
unlimited coinage Of both gold and silver
ana yet Keep the silver dollar as good AS the
silver dollar 80 Wv
When by the concurrent action of the great
nations OF the world as fixed a ratio is estab
,shed between gold and silver as has already
peen established between their Intimate
uplts OF weight and their ultimate units of
measure and IN no domain Of exact science
mas greater accuracy been demanded than
was necessary to establish with equity these
'os inen both gold and silver can be nsed
-, '' VIC ultimate unit of value, and the silver
o"'n WIN remain as good az the gold coin IN,
y 49," S,, "a "'or. Then. and not TIL then. can Wa
Ip,yp % Sulhori1e the unlimited coinage of
~. o"sn goiu ana silver and maintain a stabls
90" equitable medium Of exchange. r.