Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1893-07-31

vance in m srke. price w u!d not ex-
coed the amount which VIZ can bene.
ficiaily employ - money: the amount
to seek our mints being Always III.
excess Of the amount which tn.
worlds arts and British India q, d
other and subsidiary ooinages OF the
world would spare us.
| VALUE DETERMINED BY LAW.
The worlds yearly production OF
silver which compared by wei9ht) is
now about % times, and in 1856 was
about 4 times, was in 1903 and later
5o4 times the yearly production OF
gold. Yet, during these astounding
variations in tho relative production,
the minte Of France, vAIuing gold at
l5t times silver, continued open dur
ing the 70 years TO 1873 for the coin
ing OF both e,+tAls without limi'; will
the worlds market price OF gold and
silver lowering closely about her min,
prize, constantly, during all these ~
years.
Here, evidently, was value deter.
mined by law.
The calm unconcern with which
France, without endeavor. thus au-
tomatioally dictated the relative value
OF gold and silver for the com msrcia
world. during . period Of 70 years, is
historic. The circumstan noes and co"
di.ions which favored France were
altou ether inferior to the circum
stances and conditions which nov
combine to favor the like automatic
achievement by the min,s Of tn
United States. If made equally unre
str'cted in their operation.
The opportu 'v which France &C
successfully enjoyed was decreed b,
her great General, the renowned of al
soldiers 1T modern times. 1t will b.
pitiable If the represe natives of the
people in Congress cannot be per.
suaded on the facts to give the United
States q Il h'ing chance to do as y eli.
OUR RATIO SHOULD STAND.
| The absorption of silver by India
the arts, and our Treasury under tn.
so>called Sherman law, having, j..
spite OF an extraordinary production
depleted tho wo,lis available sup
plies, IS Losed, the Legitimate pre-
sumption is that we need net alte,
our coin valuation Of silver in provii.
ing unlimited access to the mints ol
tho United States for silver equal,
with gold. The 6xi.y Of price fo'
silver which. for the at least, our
minis would unques'ionahly provide
would enlarge this aho ption Of silve,
else where. Any alarm as to al in.
ordinate increase Of production,
which We have not dismissed already.
must take this increased foreign alb
sorption into the account.
Hence it would no a .enseless sacri
foe on the part OF the United States
to lower, at the outset, the value OF
me OF our own great products in the
markets Of the world and with u, as n
consequence, reduce the market value
Of our surplus cereals and cotton
while our press mt ratio Of about l6 to
is air ,a.y lower. ty ) CO. IS on the
.o!lar,'han Earope's valuation Of silver
o, which about ii $50 600 900 worth
Of Enrope's legal tender coin is anoa,,
$4S0,O00,00J OF it continuing n
share OF the reserves of six great
banks.
THE RATIO, IF ALTERED.
| Nevertheless. il ignorant prejudice,
pride Of official opinion, and un.
founded fears cannot DO overcome
without a compromise. then, without
the sacrifice of principle, i. may pos.
siblv be expedien,, at the outset. 't
reduce the gold ~ the gold dollar "a,
MAS done by the act of 1884 } snG
jointly Herewith 70 increase the
weight Of silver for the silver dollar
appointing say rs grains Of STANDARD
gold and 500 grains OF standard silver
"A ratio of 20 to /: ito which
Senator Vest is said to have proposed
This sacrifice o: our coinage val".
for silver for = time, might be com
mended as doubly to assure tn,