The herald., 1893-08-20
srrcK By rHR OLD RArN.


STICK BY THE OLD RATED.
The proposition of changing the ratio
of silver In the standard dollar has
found great favor in some quarters
friendly to the white metal. This is
really the most impracticable solution
of the problem yet presented. The ratio,
based on so-called intrinsic value, which
prevails today may not be that which
will prevail three months from now. If
the gold bugs are permitted to win de-
cisive victory now, what is to prevent
their keeping up their onslaughts? ?
They ought to be met and routed horse,
foot and dragoous. Why concede any
point? The addition of fourth or more
to the bulk of the silver dollar would re-
lieve that coin of its present symmetry
and make it bulky and inconvenient to
handle. Besides, it would be necessary
to call in and recoin the dollars already
issued, which would be decided loss 10
the government.
Why should not the present quantity
of silver in the standard dollar be ample
in the future as it has been in the past
Senator Vest proposes to add ifty-two
grains OF silver to the dollar OF the
fathers. This is intended to propitiate
the eold-bugs-as sop to Cerberus.
1t is useless to try to conciliate the ele-
ments that are working for the estab-
lishment of the single gold standard all
over the world-for the practical con-
fiscation OF every thing that is not owned
by men OF fixed incomes, payable in
gold.
We are told that two hundred millions
of people have entered the monometallic
league, and that it is hopeless for the
United States, with her sixty.fve or
seventy millions, to enter into strug-
gle against such potential masses.
This proposition will bear little In
quiry. Who are these two hundred
millions OF people? For the life of us
we can only see, at the outside. one
hundred and twenty millions. Russia
financially may be said to be in chaotic
state. She boards gold for ulterior mill
tary purposes, but her currency is in a
most deplorable state. All the silver
she has she is obliged to hold on to. In
this summary Of nations that demand
the single gold standard the gold bugs
have had the unexsmpled impudence to
include France and Italy, both Of which
nations maintain the double standard
and would cooperate most cordially
with the United States in any move
ment for the appreciation of silver.
Thus, in a correct grouping of the posi-
tion of the great nations of the CONNER
cial world, we find that the bimetallic
quite equal the monometallic nations in
numbers, while to the former are to be
added Mexico, Central and South Amer
ics. the islands of the seas, India. China
and all Asia. These last are all either
in favor of the double standard or main
tain the single silver standard.
We hear great deal about the great
quantities of silver which the United
States would be obliged to buy if we
shall fully remonetize silver. Well.
where are these sums? England is an
enforced purchaser of silver, needing
immense amounts of the white metal in
her dealings with India. 1t is notice
able circumstance that che is obliged to
come to the United States and Mexico
to get her supplies. The telegraph sd-
vises US that already the scarcity of sill
yer is so great in Central and Southern
Europe that Italy has forbidden it's ex-
portation. In some portions of Italy
the people are using postage stamps and
other tokens as circulating medium.
The fact is that nothing in human
history is more demonstrable than
that the time is highly propitious for
the reconciliation OF silver. Already
the East India council is regretting the
closing of the East Indian mints to the
coinage OF silver, and powerful move
ment is on foot to reopen them. The
asserted unanimity OF the English peo.
Pile in favor of the single gold standard
is all bosh. The largest agricultural and
manufacturing bodies in the United
hlnguOm HhVc soHI up btIOuB u6mO-
rials in favor of the double standard.
The Right Honorable ArthurJ Balfour,
the leader of the Liberals in the house
of commons, is an incorporating BIZ
metallist. Many of the most enlightened
statesmen OF Great Britain are in the
same box, and to these may be added
several gentlemen who have filled the
position of governor of the Bank of Eng
land.
There never was more clearly defined
conspiracy than that which demone-
tized silver in the United States. To
help the movement along a great out
cry was raised against the tremendous
output OF the Comstock lode. The
world was to be deluged with silver.
Yet at the very time this hollow and
artificial clamor was being raised within
o trifiing fraction of half OF the output
ofthose mines was gold. Hall the friends
ofsilver will join heartily together. with a
strong pull, long pull and pull alto
gether. We can maintain the traditional
ratio between silver and gold in our
coinage, give the miner at least prom
ise OF free coinage and vitalize business