Mexico weekly ledger., 1893-11-30
AYERS PILLS
Prepared by DR.. J. C. Aver Co., Lowell, Mass.
Every Dose Effective

cisely the same value and could be
so kept at all times, there would be,
In fact, but one standard, one unit
tor the measurement of values.
| Whatever that actual standard may
be as established by the laws of
| trade and finance, whether it be so
many grains of fine gold or so
many grains OF fine silver, ii is the
duty of the Government to conform
to 1t in the payment of its obliga
tions and in all its dealings with
the people.
1t does not follow from anything
[ have said that nothing shall cir
culate or be recognized as money
or currency except gold, or paper
issued against gold, nor that the
prices of commodities ought to be,or
will be, fixed upon the hypothesis
that gold is the only money in the
world; but it does follow that no
part of our currency, whether it be
silver or paper, should be permitted
to deRreciate below the established
and recognized standard. Any
financial policy which would en-
courage or permit such deprecia-
ton, or create reasonable appre-
hension of such depreciation, would
usettle values, paralyze business,
arrest the growth aud expansion of
our industries, aud ultimately bring
almost universal bankruptcy and
ruin upon the country.
Gentlemen, the question whether
the obligations of the United States
will be paid in coin current in all
the markets of the world has al
ready been settled, and it has, in
my opinion, been settled for all time
to come. 1t has been settled, not
by any specific act OF Congress pre-
scrlbing the exact mode of payment,
but by the spirit and obvious pur-
pose of the whole body of existing
legislation upon the subject and by
the deliberate judgment of the
American people and the declared
purpose of those who have been in
trusted with the execution of the
laws.
SILVER TO HAVE A PLACE.
This does not imply that silver
is to have no place in our monetary
system. What is to be the ulti
mate of that metal is one of the
problems which time and events
alone can solve. 1t is not possible,
under existing circumstances, for
any one Government to establish
and maintain stable relation be
tween the two metals, and for this
reason alone, if there were no others,
we are bound to place some reason
able limitations upon the coinage
and use of silver. How much OF
it can be safely coined, and upon
what conditions it can be safely
used, are questions upon which
there will be a wide difference of
opinion; but after all that can be
said on both sides they will be
finally determined by circumstances
which cannot now be foreseen and
by the natural increase yf our pop
ulation and the natural growth OF
our industries and trade.
1t is enough to say at present
that we have already on hand a
stock of silver, coined and lincoln
ed, sufficient to meet all the prob
able requirements Of the country
for many years to come. The mints
of the United States have coined
419, ,332 $50 standard silver dollars,
and we now have 140, 500, ,76O fine
ounces of silver bullion, which, at
the ratio of 16 to l, would make
S1S1,914, 4,S41, or S601 ,247 ,391 in
the aggregate. Besides this, we
have $40, ,977 ,O02 in subsidiary sill
yer coin, which is legal tender to
the amount of SO, and is by law
redeemable in full legal tender
money on presentation. Our legal
stock of gold coin and gold bullion
is 1868, 167, ,949.
| In five countries constituting the
Latin Monetary Union, with com
bined population of more than So
100000, exclusive OF their colonial
possessions, have 1915, 100000 il
gold, 1925, ,OOD, 600 of full legal ten
der silver and s95, ,000, 900 Of sub
sidiary silver coin; and yet they
found it necessary several years agt
to discontinue the coinage OF lega
tender silver and enter into an ar
rangement by which each country
agreed to redeem in gold all its owl
legal tender silver coins when pre-