Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1893-07-06
2o4 70 1.
That Is the Ratio Established BIZ the
Indian GoverImant-An Inserna ,iousl
AJresynsn emit Indispensable.

Tn. stoppsg- Of the free coinage q
silver by in1ia. announced On Jun.
20, is the heaviest blow the white
metal has ever received, aud Ironp,.
brought its market price down &c
III cents pr ounce, at which rate
silver il our dollar i. worth only 40 s
cents The Indian Government ms
"stnh'i-hrd "provisioRa'Iy," we should
SAY momentar'ly, q value Of 1G pence
for the silver rupee. which rate is
equivalent to about 2O4 silver to one
gold. making it therefore extremely
probable tina, any ratio between the
metals to be established hereafter b,
intern a,ie"al agreemest will not be
shove 20 to l..
The actio" OF tho Indian Govern.
ment will have a very d~c.ded, If not
conclusive, influence upon some ques.
tons in the silver problem.
First-lt renders absolutely Ger
tain the repeal of the Sherman act,
and will thus stop the purchases Of
silver in this county, aud this will
undoubtedly he followed At an earl,
day BY tho s,oppaus Of flee coinsee
~ the remaining silver basis countri+s.
Second-It will probably stop vi
once and forever the wild sdvocac,
in this country of freq silver coinage,
which. always senseless aud in6"iteI,
harmful, will now be such Transparent,
folly that no rational man will BE-
found to propose it. To this foolish
agitation aud the forced purchases o.
un"etded silver have been due tn,
loss Of foreign conti l. nee in our ahil-
i,y to maintain gold payments and th*
withdrawal OF foreign capital which
we So much need. No one will pre-
tend for u moment that this countr,
eau. alone carry the silver Of the
world and maintain its price.
While India has thus settled the
question Of free silver coinsge aud has
decided the fate Of the Sherman act,
it has no, solved the silver problem OF
In hat
the METALS. 1t has forced not alone
5000 900 ounces q year, which
India took last year, on the a!reHd,
greatly overs:orked market, but i,
will start the sales OF Ini,a's boarded
hundreds Of m;li;ons, and it has thus
given increasing velocity TO the down.
war' course of silver prices. Where
will these now stop: Al so cents ~
70 cents an ounce? Who can tell
The price is no longer based on cost
If production, but only on the neces-
sites or sentiments of sellers on All
overstocked market. II the price OF
silver should decline to SO cents an
ounce, or to the ratio Of Alb to l ot
gold, how long could or wouli th-
Indian Government accept rupees a.
lG ponce, or ia the ratio OF 2Ua to !?
THIS &C. has made still more appar.
-nt the neccssit, tor an international
agreement ny which the value of the
worlds money will be render. d
stable, or its changes made 70 gradu
ally as not 70 interfere with the pros>
p-rity, Industry or commerce Of
nations. Let every in,-Iigen, man
consider this vital question and use all
his influence to induce our Govern
m mt to propose the appointment, Of
All International Monetary Clearing
HOUSE, composed OF one or more rep
rssentatives of each country, to act
through the mints Of the several
countries as repositories, and with
po*ef:
!. To ascertain periodically the
amu"nt of money, that is. Of gold.
silver and uncovered notes, held hy
each country; these amounts to form
the ba.i, for the proportions N which
the several nations will join in the
purchase OF all the gold and silver
Offered in excess Of that specifically
called for by those wanting the
metals.
2. To determine at what ratio the
purchases Of gold and silver are to b.
made, and. fsom time to time, what
it any. change in this vslu->.ato !.
called for by the changed condition.
Of production.
| 3. To purchase, for common &C
count. auch ar amount If silver frosu