The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-08-11
THE OUTLOOK FOR SILVER.

1t ought to be clear to the extremists on
the silver question that unlimited coin
age OF silver at the ratio of 16 to l has no
present chance of success. When THE
HERALD intimated some months ago that
this ratio could not be reasonably ex-
pected, taking all sides of the question
into consideration, an attempt was made
by self-contradicting contemporary to
cast ridicule upon THE HERALD and to
class it with gold-bug papers because of
this position. Now, however, it seems
on that point.
There are two extremes on this CUES
ton, to which certain factions among the
silver people have run. Both are no
doubt equally sincere, but they each look
at it from a different standpoint.
One class claim that 16 to l is the
rational ratio. They point to history
and produce many reasons to support
their theory, and perhaps as a theory
their views are correct. The other class
come down 80 present facts and show that
not less than Is to is the practical ratio,
citing the values OF the two metals in the
markets CT the world, and contending
that parity cannot be maintained on
any other basis.
Our opinion is that the mean between
these two extremes is practical and may
probably prevail. The ratio OF 16 to 1
cannot be established in the present con-
dition of the market and OF public
opinion. The ratio of % 10 ] is toe
high, both for the profitable production
of the metal and the maintenance of its
parity with gold. The ratio of 20 to !
seems to be the right thing and likely tc
to gain greater support from conflicting
classes than any other.
1t cannot be denied that in spite of the
rise which silver has taken-to the sur
prise of people who fancy President's
message is omnipotent-the two money
metals have drawn apart in commercial
value to such an extent that silver is de.
preciated in the eyes of the world, and tc
the popular mind a silver dollar repre-
sents no more than two thirds of its fla
value.
= OF course il is claimed that when re-
established as money its market valu.
Will aDp& CSidbC sAhN tElC DnO ulCb1lS VIII
come closely together again on the forme
ratio. On the other hand it la argued
that the commercial value of silver ha
dropped through other causes than legis
lation and that if coined, every dolla
should represent full dollars worth o
silver in the market, if not it would b.
ssa dishonest dollar.''
We believe that the ratio of 20 TO 1
coming between these two extremes
would be acceptable to the REASONABLE
men OF both classes and also to those who
believing that the Sherman law is tn
root of all present financial evil and tina
it should be Immediately swept out O
sight, are yet believers in bimetallism a
some fair and consistent ratio.
; The gold men too, would be less vehe
ment in their opposition TO silver if tn
IS to scheme which they regard as tn
, extreme of folly and financial heresy wa
r not insisted upon. and great deal OF th
, wind would be taken out Of their sail
: by that much of concession.
Taking into consideration the apparen
+ disposition Of many Congressman to com
to an understanding on that basis, tn
} probabilities Of some Republican mem
t bers combining with the Democrats upo
tiff only for the purpose of putin