The weekly tribune. [volume] (Great Falls, Mont.) 1891-1894, 1891-02-21
THE SILVER QUESTION.

hted member OF the sllVoI coHi'hio
4, will be read with much inter
1t is from the pen of j. W. Por-
of Charlottesville, Va. The Char
tsville Chronicle of recent date says:
Dne of the bugbears constantly pre-
bted by advocats of the gold stand
B. and one which has o weight
th many earnest yet timid, friends
|bi-metallism than any other is that
cannot, unalded by foreign nations
ep silver at par.
There are few Americans who do
profess at least to be III
kor of bi-metallic money. But they
we cannot by our method, unsup-
pprted by other nations, bring 1t
about. That, to attempt it by open
ing our mints, will flood us with the
liver of the world.
Experience is always a safe guide
III human nature.
Now what is the experience OF the
sst.
M hat was it that held gold at coin
ue during the sixth decade, when
~ mines of California and Australia
rioured their treasures into the Golfers
AZ the world in a volume exceeding
u fourfold the silver product of the
1rorld? Even when On the continent
a Europe entire nations refused to
bin it, it was held steadily by some
nuse although, so that the miner
new the value of his Inc of gold
aEefore he secured it.
Most of it went to Europe.
What was it that held it at par with
coin?
It could not be any application OF
he law of supply and demand, yet
bid did not go below silver at the
Recognized ratio of 15a to l.
The open mint of France might,
with those of other European nations
have been closed to gold, yet it would
have been steadily held by the British
law.
The Bank act of 1914 compelled the
Bank of England to purchase al
gold offered at f3 It's Sd per ounce
which is within a small fraction o.
it's value coined.
No man wei need sell for less
while the law stands, even though
fI,OO0.0 900 or ten times that be takeI
in a day.
Indeed. there was no material de
cline in the gold price of silver unit
France limited her coinage A littl
later the act compelled the closur
of her mints and those of other state
in Europe which had acted with hel
There are many who believe tina
France could have maintained part,
had she kept her minis open, because
limiting the coinage caused the dc
cline.
What has caused the decline of 81
silver as we call it?
May we not just as wisely ask whs
has caused the advance in gold?
Nay? far from wisely, for We sho'
by irrefragable proof that it is gol
that has advanced rather than thu
silver has fallen. We are not I
measure by itself, nor yet by the otht
for that would be the veriest child
play.
How then have we proved it? b
Tie only test applicable.
The general range of pric'
throughout the world since IL
attempt was made to force the SO
gold standard upon an ignorant b
patient people.
Under the application of the tie
we fluid that silver has proved a t
more stable indicator and measure
values than gold. Gold was magr
fed. Silver dishonored
Its dishonor, not its disuse is t
fruitful cause of the vast derang
ment under which the world has 81
fered. During this whole period t
worlds use of silver'h has been consta
and increasing. Great Britain b
been the greatest market for silv
and with thrifty foresight has a
ually managed to fix the price of tt
great American product, and by f
ing that, to set the price OF Anne
can wheat and cotton.
Not only has all silver been us
as fast as it is produced, but is us
Freely by every civilized nation in