The weekly tribune., 1893-08-18
THE QUESTION OF RATIO.

It is undoubtedly wise thing for MIR.
Bland to take the position that the silver
men are willing to make some conces-
sions on the point of ratio in case that 1t
should be necessary in order to bring
about legislation favorable to silver.
The just and proper ratio is the old
one of 16 grains OF silver to l OF gold;
this ratio is just and it has historical
precedents back of it which should have
some weight on silver leglslati on. But II
such legislation can be securedon ratio
of 90 to l and cannot be had by holding
out for a ratio OF 16 to- it needs no
argument to prove that the part OF wis
dom for the silver men is to increase the
ratio rather than lose all the advantage
which is now theirs.
1t is wholly senseless for Mr.. PETER OF
Kansas and other extremists to hold to
their rigid notion that nothing should be
accepted save all that they demand. The
principle for which the silver men are
doing battle is the principle OF bimetal-
lism which requires the concurrent coin
age of gold and silver on an equality be-
fore the law at fixed ratio. This prip-
ciple once established. it will be an easy
matter to agree on details, and the ques-
ton of ratio is one which will adjust it.
self very readily. If at the passage OF a
bi-metallic law the ratio shall be fixed at
20 to l, it is more likely within one year
after such law is passed that the ratio
will be changed to l51a or IL to l, than
that it will be increased. The simple
fact that France maintains her standard
in the teeth OF all this agitation will have
considerable influence in deciding the
final ratio when bimetallism becomes
universal, but there are other circum-
stances which will tend to lower ratio
of silver rather than higher one.
In the first place the production OF the
two metals continues to be almost equal
despite Misrepresentation to the con-
trary, and the education OF the people
with respect to the meaning OF money
which will be the result of the present
and future discussion Of the subject, will
strengthen the universal demand for
greater abundance Of money. 10 sup
ply this abundance economy will have to
be practiced in the use of the precious
metals.
We have pointed out from time to
time some of the reasons which make
Great Britain meddle with our financial
system, cause her to wish the demonetl-
zation of silver and to strive for an
increase in the amount of silver to be
put in the dollar, in case she finds that
the white metal is still to be used as
money.
1t is, of course to her interest to have
money dear in this country, because
that gives her the advantage of making
large interest on loans made in this
country, and enables her to buy our
products at practically her own prices;
in fact, by allowing her to dictate what
our ratio shall be, or what our money
system shall be, we are placing her in
the position to dictate what the prices
of our commodities shall be. This has
long been known to people who are we'll
informed, but the general public is just
beginning to find it out
1t is we'll that congress is taking time
to consider the silver question instead of
taking snap judgment and by hasty
action Jeopardizing the interests of the
country. Bimetallism we must insist
upon, but the question OF ratio
may properly be the subject Of COM
promise.