The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-08-08
VOICE OF The PEOPLE.
A Correspondent Who Says Stand
by the Sixteen to One
Ratio.
He Saws the Government Can Havo
Free Coinage and not Bo
Deluged.
Another Citizen Tells OF tho Duty of tho
prrssnt Hour. pnseu m Hon
Another Citizen Tolls OF tho Duty Of tho
Present Hour. lnsed ON Hon
esty and Integrity.
THE WAY OUT.

THE WAY OUT.
To Tho Independent:
Chicago 4 ribune it is reported The rally seem
TO To around the proposition to repeal Tho Sher
man law. repeat tho state bank tax, and coin 81
yer al about twenty to one That proposition
in my opinion blaaes the way out of the wood
in which to-day We all seem irretrievably lost
Respectfully, A.. II. NEASoN.
10 the Independent.
ReferriSs TO that part of A. H. Nelson
card in your Issue of August 6 recommend.
ing free coinage Of silver at ratio of twentl
10 one "a ''ths way out of the woods" l re-
spectfu ly affirm that TO establish amy ratio
except the one Used before demonstration,
viz, sixteen TO one. 10 to crystal'ze and par
petuats e~xisting evils, give Roldhugs q per-
hars fatal advantage. and lead, not "ous OF
the woods" but into a most dismal swamp
These United States can open their mint'
10 the free coinage Of silver at ratio of six
teen TO one and not be delugel with ths
worlds silver, because, excepting two small
governments, all the other nations havt
coined their silver on a ratio of 1871 to one
or fifteen to one. They will not lose the
difference In ratio against them, beside
transportation and Insurance..
France. Belgium. Italy. switzerland
Greece. Spain, Netherlands, Russia, thu
Central American states. Nil South Americs
and Hayti coin their silver on q ratio Of 151.
silver TO one Of gold, and they had in sight
in 1890. 81, 0OO. 0S4. 600. On this ratio thaiz
fvs-franc piece. which Is worth SO cents in
gold as coined. contains 3474 grains of pure
silver: this at 81. 1929 per ounce, the value
on sixteen to one ratio. would be worth 81. %
cork. a-A n ~ Franc hav xynUlS lDse
2.47 cents and coat of transportation.
India has $500. 600, 0O0 silver that was
coined on ratio of fifteen to one. England
has made two previous attempts to make
gold the only legal money In India and
failed. China has no COMA Of her own, no
mint, no ratio. Foreign coins are all she
has and every one of them has cost her
from two to thirteen cents mors than the
silver in them 10 worth at sixteen to one
ratio. Does any sane man honestly believe
that either India or China will not protect
themselves against the enormou loss in
yolved in an exchange at an increased alto.
OF all the nations only Mexico and Japan
could send their silver coins to the United
States, have them reduced to bullion IN
Yecoined at a profit. and they are estimated
TO have only $50. 600, COO each. Thu addi-
tional profit On cotton for one year would
be more than 140 per cent, and on wheat
$50 per cent of all they both have. with q
ratio OF sixteen TO one e3taOllsned.
Can the United States maintain the ratio
of sixteen to one? Yes. The drawing
apart Of the relative value of gold and sill
yer the last twenty years is due. not to a
relative increased quantity of silver, but its
characterization. For 1856 years prior to
1873 there we're but three wears in the
worlA's ma kets when is required sixteen
ounces silver to buy m ounce OF gold.
During this pc iod there never was a time
when il took less than IA. IA ounces silver to
buy one ounce of gold. and but once when
that would do 1t. in 1860. In all those 1856
years the greatest f1uctuation in the rela-
tive value between gold and silver was l .98
ounces. while in a period Of twenty years
since 1873 the huctuasion has been over
seventeen ounces. Practically. the ratio
to-day is twenty-eight to one. despite the
fact that there Ii a prestsr relative guam
tity of gold to silver than in 176O. when ii
required IA. IA ounces sllves to bay one
ounce of gold. 10 what is this ruinous de-
preoiation due? Hostile legislation solely.
The remedy is obvious, these United states
can apply it. Why accept a ratio of twenty
to ons2 Why compromised? Better, far
better, a struggle prolonged until a major
ity comprehend that the issue Is not sec
tional. that the we'll being of everv Ame:i-
10 in peril, thas the struggle is one for
independence. and we ahall
q victory worthy the heroes of '76.
+. II. RAY.