The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1892-12-08
A FIXED RATIO FOR SILVER,

Senator Allison has informed the
international monetary conference at
Brussels that his constituents, mean
ing the people of the United States,
would be satisfied if silver was coined
at a fixed ratio and made a legal
tender.
Senator Allison might as well talk
about making wheat or corn or cotton
a legal tender Eat fixed ratio" Silver
is commodity dependent entirely in
the market on its production and use
or consumption. 1t has been steadily
falling in price just as the production
in our mines has increased,
less the increased consump-
ton in the manufacture OF sill
yer ware. That helps it to some
extent and as it becomes less valuable
more of it is used in the manufacture
of silverware.
Thirty years ago fifteen and one
half grains of silver was worth in the
market one grain of gold, now it re-
quires twenty five grains of silver to
equal one grain of gold. If there had
not been an increase of supply of gold
from our western mines that was ex-
.traordinary and the product of silver
had been the same as it has for the
last thirty years, it would now have
taken forty or fifty grains Of silver to
equal one grain of gold
We believe it is a fact that more sill
yer is mined in proportion to gold thar
ten years ago, and that the proportion
OF the production of silver over god
is increasing every year. How then,
nnder these condition does Senator
Allison propose to fix aratio" that is
changing every day2 If all the ma
tions represented at the monetary con-
ference at Brussels were to obligate
themselves to buy the same amount of
silver every month that the govern
ment of the United States is doing I'M
der tn eSh erman act, they might re-
tard the depression of silver, for such
a market would have the effect of
booming the white metal for while,
but it is admitted by our best tinan-
eiers of both parties that unless the
Sherman act is repealed it
will bankrupt the United States.
Mr.. Sherman, the author of the act,
who has the reputation of being the
most comprehensive and sagacous
financier in this count, says it must
be repealed.
1t is not likely then that other ma
tion5 will adopt IA policy that we are
about to abandon in order to aid the
silver barons of the Western states in
retarding the depreciation of silver,
when we admit it has brought us to
the vestibule of an insolvent court.
There is no ,question in poll les so
perplexing as the monetary affairs of
government. and it is so because we
have so few men who look
any deeper than the tops of
things. Knowledge on this subject
is superficial and our money
thinkers are tyros and vampires. We
must honestly get down to the bottom
facts before we begin to lay even
foundation to stable and permanent
financial structure.
God and silver are both the best
representatives of values and both are
capable of forming the standard by
which all other values are measured.
And whilst we confess we have not the
capacity to build this structure we
can see by common sense glasses the
difficulties surrounding Senator ALI
sons proposition. We are not of the
builders who reject this stone, for BIZ
metalism can be accomplished, but
silver must necessarily be considered
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