The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1893-04-18
RATIO OF COINAGE. .
as 1t to BE Sixteen to One, Honest Money of
Twenty-Five to One, Dishonest Money

From The New York Herald. ..fr;no
To me 1t is, and it must be very gra'.s, ns
to the other principals Of the triangular i'i@n
cial discussion which has been cond"cteu ~"
the past several weeks through the coiuhin'
Of The Herald, to observe that we hnvo I'LL
ed q point Of mutual agreement, from VIZ"
if we cannot ourselves draw sa'Nl'G'oiy
conclusion, the impartial reader cat 1T ieaa'
ascertain that the basic principle Oh my 1"
ment has been sustained By the others.
in this discussion / started out with 'he
following PREMISE
l. That the democratic platform declared
broadly for bimetallisnl-the coinage 81 ,o'h
metals without the slightest dlscfliil'i'''loh
against either.
2 That its declaration for "an honest dol
lar'--eyery dollar being of equal ana inter-
changeuble value with every other d"li'st-
could only be met by removing the lcglShl,iNc
discrimination which justly renters me SILVER
dollar liable to attack rs being Il dishohest
dollar" in that its bullion or hafkel value
Is only eighty-four cents
g. That as soou as legislative prescription
was lifted and lis natural and unencunner'd
market value was restored. SILVER Wouiu ~
once seek parity with gold ut the present
coinage ratio Of 1G to ].
A. That il under such conditions parity was
not established, the basis for the adjustment
demanded by the democratic platform couia
be fixed at exactly just ratio, ana that Tue
future coinage Of both metals, at Il pafiS
and without discrimination against elmer
therefore unlimited and frec-could be gov
erned in accordance with the pledge OF the
democratic party
g. That soon IS such course was ADOPT
ed or assurance given that it would he, as
demanded by The party. the sherman silver
law should be promptly repealed, as dehahd
ed subject to this condition.
In arguing this policy my position has Deen
4l,u4
it here SO that the gratuitous construction OF
Mr. Halstcad and others may OF go uhch&l-
lenged, Again, ] give it thus succinct III
response to request from "Democrat that
| evolve my proposition of the course 10 ne
adopted by congress when it meets. nave
been the more ready 10 catch the glarIng
Inconsistencies of Mr.. Ualstcad in volunteer
ing to conStruc Mr.. Cleyelands words ana
the democratic platform because OF his
sweeping contortion Of my own position III
denying that the democratic victory meant
the continued triumph OF republican prlnci-
pies
Now what has been advanced in the way of
corroboratiye testimony that the position of
the party as outlined above, is the proper
solution?
Let us introduce Mr.. IIalstead. who Opposes
that he is a bimetalIist, and Solemnly pro-
poses this rs his plan Of settlement:
Change the ratio from 16 to / to - to /,
and legal tender and coinage free. The gold
dollar should remain exactly where 1t Is
This would be the free coinage OF both metals
at the market ratio"
Observe here that Mr.. IIaIstead squarely
commits himself to the principle of the free
coinage Of silver, the only question being the
ratio it should bear to gold. He proposes -
TO T. instead of rs to I, rs now, the former
being the standard Of parity ut the present
deprecated condition Of silver caused by de-
monetization measures
AS has already been 50 well shown by
''Democrat." the absuriity Of this proposition
is manifest in the certainty thai as soon rs
the muts are opened to silver coinage alike
az to gold. silver will rise iii value. seeking
the level of parity with gold AT the coinage
ratio of 16 to / it should he worth SID an
ounce. 1t is worth but 81 cents. why lhe
lack uf parity? discrimination, of course,
which depriyes silver OF It's natural value
Now since Mr.. Halstead has declared thar
be Is !; bmctallst and admitted the principle
of free coinage, is it not clear 10 any unprcj-
udiccd observer that instead OF asking Tor
free cottage on 4 ratio of - TO l he shoul1
first c0ncede the elimination OF the discrlHl-
mating conditions which suggest such an al
normally divergng standard 0f parity!
In 1873 silver was worth 100 to gods lU9.
Then came decentralization, and now IL Is
silver ct to gold 100. Undo the fraud OF 1875
and the work OF adjustment OF real parity
II.
done carry out the demands OF the democrat
ic platform to the letter and the silver gues-
ton will be settled.
In seeking further Information as to my
construction of the party platform Demo
crat" wants to know If | favor the degrade
ton of our present gold standard, or does ne
intend by his plan to uplift the price of sill
yer from 81 to 100 cents an ounce, WHICH on
our present coinage ratio Of to H. VIII put
silver and gold Il 'parity|
The shyiock. comments Democrat,
SHOULD not object TO that"
Here we arrive at another point. IL fnls
suits the "shylocks' it suits the democratic
narty fol-. that is Just what its platform would
would have it doc. 1t is just what l. nave been
rndeavoring to make plain all along rs pelhg
my construction of the financial plank OF the
democratic platform.
Just mere let me say that. as Tor myself
have no plans but the party's plans Dem
ocrat' asks for my plans in that he adds
che assumes, like Mr.. Halstead, to pe pil-
losopher. guide, teacher, friend.
TO I'LL but the latter I protest! l am neith-
cr philosopher, guide nor teacher, nor 90 |
assume to be. ] am a follower democratic
follower. a platform follower. l am friend,
YES, and II good one too, and that very TREND
shin for nv party and its principles is to"
earnest for me to look with calm indifference
on the effort to turn the entire direction OF
the currency of the country into the hahds
of the money changers.
/ do not speak an expert, Tor am not
Inf as Il layman-as one who knows some
thing of the sentiment of the people ana
who is Acquainted with the distress aud needs
of the great mass here who make the demo
cratic party and are looking to it for relief.
| am frank 10 say that if l were speaking
alone for the money changers my views would
be different, because it would be my part TO
1lrge that the value of every dollar owed
should be made worth as much more as posi-
ble nv advocating legislation contracting the
currency and impairing the normal ana just
purchasing power of a dollar for the beneht
Of the creditor and at the expense oil the
debtor.
Aud now In concluding this, let US nave - a
v.nrd from a distinguished Tcpubhcan Goldoi-
atnr nv woy of evidence that even John Sher+
man can accept the democratic plan as Il solu-
zion of the problem, and IL ne can take H.
In n letter to the republican club or can
! ton on the occasion Of its recent protective
tariff banquet he wrote: ,,. g.;
.''rhe real remedy OF the silver proniein IS
to nut into our silver dollars enough SILVER OF
market value to be equal to gold dollar ana
| 10 maintain all forms of money, whether com
| mr. notes OF equal or Interchangeable value
There is not Il word in this that IS lnconslst,
ont with the democratic position as outlined
! ghove and here we reach another common
| the only issue with Senator sherman $
| rroncsition as n basis is whether in ADJUST
| m mr.