Mexico weekly ledger., 1893-08-17
Senator Vest Sound.
HE FAYORS BOTH GOLD AND Sill.
YER On A PARITY.
He Thinks the Ratio viii be 20 10 L,
Because the President VIII Not
Agree TO Anything Less.
ToR NJ White Mexico, Mo.

To r. NJ White Mexico, Mo.
UNITED STATES SENATE, WASH
INGToN, D. c., Aug. ll.-Mf DEAR
SIR: Yours of August 9th has
Just been received. The great issue
now pending is between bimetallism
and the single gold standard. 1t
seems to me that no Democrat
should hesitate on this question.
The single gold standard is antag-
onistic to what | consider the fund
amental doctrines OF the Democratic
party. This government was estab-
lished byJefferson and his colleagues
upon the idea of government for
the people and not for classes. We
separated from the Continental sys-
tenn of Europe, which was one of
imperialism, and the single gold
standard is an annex to the doctrine
of imperial Capitalization. OF course
the capitalists and bankers want the
single gold standard because it in
creases incomes and facilitates bank
ing and money operations. The
people want more money and every
measure which will make life easier
for the middle and poor classes. If
we should go to the gold standard it
would put up the value of gold enor-
mously and put down the value of
everything else. 1t would double
the Indebtedness of every debtor in
the country and would also double
the incomes of the privileged and
wealthy classes. This is the great
issue and all the balance is compare
lively insignificant.
AS to the question of ratio, there is
necessarily great difference in opin-
ion. have always voted for the
free coinage of silver at the ratio of
sixteen to one, but it is evident that
Mr.. Cleveland would not sign such
a bill, and the friends of bimetallism
must be satisfied with the free coin
age of silver at such ratio as can be
obtained. The commercial ratio is
now about twenty-eight ounces of
silver to one of gold, but | believe
that ratio of twenty to one with
free coinage for silver would bring
US very near to commercial parity.
Personally, | would be satisfied with
the present ratio, but the President
would never agree to it, and we have
not enough votes to pass such a bill
over his veto.
The Populist leaders here are
clamoring against an increase OF
ratio because they say that such in
crease would enrich the silver min
ers. Of course the silver producers
want the largest price for their pro-
duct, but to show how absurdly ig-
norant the Populists are on this
question, | simply call your atten-
ton to the following facts: If silver
is selling at 711a cents an ounce its
bullion value at sixteen to one would
be 55.34 cents, at which price the
smaller silver mines could not be
operated at all. At twenty to one
the bullion value of dollar in sill
yer would be 69.17 cents, which
would be a fair price for the pro-
duct. We must try to find such a
ratio as will tend to bring the two
metals together. The platforms of
both the Republican and Democratic
parties declare for bimetallism with
a parity between both gold and sill
yer, and | believe that an immense
majority throughout the country
stand upon this platform.
In my opinion we will be able to
effect some adjustment in very
short time which will relieve the
present situation, but no legislation
is possible, in my opinion, which
does not recognize the use of both
gold and silver as money.
Very Truly, &c,
G, G. VEST.