The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-08-11
THE SILVER QUESTION.
a. n. Nelson Replies to the Criticism Of
#. II. Ray,

J o Lis lOOepauuenL 1
In the questions "Why accept . ratio Of
to onc?" "Why c~ompromisep"
your correspondent Mr.. +. II. Ray
asks, in ths course Of his criticism upon my
Endorsement OF the proposition to coin sill
YER at the ratio Of about twenty to one.
think ! see the difhculty Of convincing that
gentleman Of the fundamental error In his
statsmsnt that the United States can main
tain n coinage ratio OF f:om sixteen to one.
and Of enltghtsninR many Of the sends . OF
The ~IHDnrENDENT upon that phase OF tho
silver question. II / understand Mr.. Rays
queyics, they imply that the United states
Ia the matter Of internntiona! money az
1yon the throne OF a dsspot, and to tho
dictation Of cong ess upon any tnte'na-
tional financial question, oil Peoples will
submissivsly bow. We have but to indi-
cate our desire ~ to a coinage ratio and
the thing Il settled.
claimed to have existed for 1856 yshrs prior
to 1873. was not the result Of tho univer-
sally accepted diotum Of shs United states.
Il wns ths controlling consensus OF the COM
mo DIAL nations Of the world. but not long
since two Of the leading nations Withdrew
presents itself. can any one OF tho remain
Ing nations stand out alone ana compel the
scqnescsnos Of the secsdefs?
A new but seemingly very clear headed
writer on this subject has said. n
nation oAn aubveft tho immutablo laws that
govern the worlds trade" but in bis Data
loeus Of nations, upon whose support Of .
coinage ,ssto Of sixteen to one.
Mr.. Ray contends; W may conf
IDENTIFY count. he omits the two fore
most nations Of the commercial world.
Ensland and Germany. and no omiss to
state that oil tho statea in his eataloe1e,
belonging 10 the Latin union. In 1874
limited the coinage OF the five franc pieces
and In 1876 closed their mints absolutely TO
the coinage OF full leg, ii tender silver coins.
Ny otto seems to believe in the nat power
Of congress as to money; but 40 that power.
II u exists. must b. derived from the con-
stitution. where in that instrument 10 II to
be found? That clause OF section eight
which confers ulon congress the exclusive
power ITO coin MONEY and regulate the
value thereof" 10 srronsouslv read by msnv
a. comforting power to determine what
shall be money. That cannot be deter
mined by Legislation, the decision of the
supreme court of the United States as to
TIE constitutioualit Of the legal tender act
to the CONTRARY Notwithstanding. The con-
sent OF the nations. higher authority than
legislative enactment, and the foundation
Of all such enactment. can alone deter
mine that. and also az a necessary conse-
quence the relative value of the two metals
that, by such consent OF the nations run
ming back into the remote antiquity, have
been dscr Cd to be the only forms OF
money that shall pass current nmone them.
ITO coin money" means merely the me-
chanioal act of stamping upon those
metals, already determined by the worlds
consent to be the only money. certain de-
SIGNS, fixing tho nationality and relative
national value of the rices SO coined.
ITO ;egulato thu value thereof" does not
mean power power to determine the Ella
tive value Of the two metals in Us, az
money. hut power only to determine the
vnluo OF money coined from those metals;
what kind of n coin shall pass current as
100 cents. what as so cents. etc., etc.
Why under section 10 of tho constitution
are the stat 8 prohibited from making
anything but gold and silver coin u tender
in payment of debtss"
Certainly not because those metals had
anywhere in that constitution been decreed
TO be the only forms of money to be recoR.
mixed in the United e~tatts. for long before
that instrument was framed. the consent OF
the nations had dec eed it, end that exhibit
ton merely says to the states hands off"
Don't ATTEMPT 20 subvert the immutabls
laws that govern the worlds trade" But
says M. Ray. your contention ms to the
limitation Of the power Of congress destroys
the very proposition you endorse" to which
I reply ''you overlook tho fact that in the
word about qualifying the ratio to be
fixed in tho coinage for gold md silver, !
looked directly to international
agreement. the consent OF the
nations. as necessary rreiim,
inaty to my legislation. and as that OF
which such legislation would be merely the
expression. Two items in the proposition
I endorsed. viz. ITO repeal the Sherman
law" aud ITO repeal the tax on state
banks," are within the Jurisdiction of the
cong e,s Of the United States, to fix q ratio
in tho coinage OF gold and silver is only
within the jurisdiction of the congress OF
nations.
A:ohimides claimed to be able TO move
the world II he could but find the fulcrur
upon which to rtss his lever. Not beine
ablo to find that fulerum he left to thu
Almighty to regulate the rotation OF thu
world. eo with many other of the immut-
table laws under which we live-they mus
be submitted to; they cannot be regulated
by any human power. not even the congress-
Of the United States.
n NurcnN