The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1892-10-06
The WEISER SIGNAL.
THURSDAY, OCTOBER 8, 1892.

.. IL JcWeVt, VI JeWelb WILLS,
Wisconsin, writes to the president of
the American bi-metalic league the
following letter in which he advances
an idea of his own regarding BIZ
metallic standard, which seems to be
entirely new and may admit of some
consideration, though we are not
prepared to express an opinion.
DEAR SIR: Your circular, directed
to me and inviting attention to the
constitution of said League and for
other purposes, is received.
With you, ! favor 'bimetallic
standard, and the use of gold and
silver in the currency as necessary in
order not to perpetuate a wrong upon
the producing and industrial classes,
yet the means you propose are not at
all adequate to the object. You have
no exact or true idea Of bimetallic
standard. Your "free bimetallic
coinage" even with either or both
coin legal tender, would not make
bimetallic standard. Either the one
or the other either gold or silver
would be the standard The very
idea of a money standard necessi-
tates limitation. If a one metal stan
dard, it must be so many grains of
that metal-of silver or of gold-for
the dollar unit; but if bimetallic
standard, so many of silver and of
gold. And the limitation in bimet
al standard must extend to the per-
centage in the number of each kind
of dollars-say, fifty silver dollars
may be the standard for one hundred
legal tender dollars. A fixed per-
centage as TO number is essential
must be in the standard part and
yarcel Off and within'it. Without
this feature, bimetal standard is
impossible.
Existing conditions indicate that
the proportion should be half gold,
half silver dollars. An absolute BIZ
metal standard is not attainable, be-
cause the two metals iluctuate in val
ne. An approximate one is attalna-
BILE when near ratio of value is
maintained, and is very exact and
practical, when the mean value be-
tween gold and silver coin is exactly
represented by our legal tender treas
ury notes as it would be, were we to
make these notes redeemable, half in
gold, half in silver; namely, 500
note good for $50 in gold and $50
in silver. This legal condition would
bind gold and silver together on equal
terms and in equal use, and would
put currency on sound and per-
manent basis, no matter what the
times-prosperous or adverse.
This essential feature and condition
has been stated in q petition now on
iile with the House Committee on
Coinage, ETC., to which your careful
is invited. The people
will not fail to see that this simple ..
so easy to apply, is the
right thing to give soundness and
to our monetary system,
and that it is fair and just to all
interests.
On the contrary, free and unlimit-
cd coinage might result in two or I
three times as many silver as gold t
dollars, and to redeem silver with &
gold might strain government credit; |
would be heavy tax and constant i
burden upon the people. Your sys-
tenn is not as it should be, one of {
gold and silver in equal values, but
in unequal values, with government
credit used to make up deficiencies.
1t puts an element of weakness and |
into the currency with no
hope for better things, for, as stated
above, it is utterly incapable of n
5imetallic standard.