Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-07-23
srpELIcHrs or HISTORY.
How silver Was Treated by the An
clients Proof That II IL the Law
That Makes the Mare Go.
Austin, Tex, July 81.

r Austin, Tex, July 81.
In rccent issue speaking Of silver
"Onr Eastern friends who have such
| contempt for silver should tell Us why Ii
y Tint foreign exchanges pay no attention
but Gaude il 6s WEIGHT il Tho sy sStti pgt
| OF balances, II miniage makes no diner
ence In International trade. why shnud
| we not have a cnrrency FOR ourselves
suited to our own Necessities. and not based
on foreaign prcIudlces OF intercstr
Here The Gazette seems TO score u
point,
OF course the government Is not COM
PEELED, IA the Dallas News asserts, to
pay out 100 cents In gold for Is cents
worth of silver But what the govern
ment " compelled to do through sheer
force Of maintaining It's credit, is TO pay
ont 100 cents in gold for 100 cents worth
OF silver NJ iis market value. For just
80 long rs the silver certificate Is rcdeenl-
able In coin aud gold is demanded for
H. the government will be compelled
TO pay ont gold 10 save It's credit and
nnintain the price of silver already pur-
chased. Should silver take u tumble in
the interim. then the government has
lost the extent OF the tumble In the
operation. This Is tlie situation M we
find IT,
But whether the government will be
able to maintain It's credit and stlll
keep on purchasing silver for storage
Is, In the llglil Of history. another que.
ton. For Max Muller, the Oxford schol-
ar, says tina, while he Is not awum that
amy learned treatisc dealing with the
difficulties arising from the depreciation
of silver has been discovered az yet anong
the papyri of Egypt, there is better evil
dcnc of how the aneionts dealt with the
difficulty, namely, their gold aud silver
coins which exist IN our day. Though
silver he says, twas nothing accounted
of in the days of Solomon, and Solomon
made silver To he as stones In Jcrusa-
lem. yet the ratio betwccu silver aud
gold when coined was strictly maintain.
el. aud the commercial transactions be.
tween Palestine. Ploenicih, Egypt, Per-
MA and Greece seem never 10 have been
disturbed by the depreciation Of one Of
tie two mctals." Again, aud further on.
tho same authority assorts that after
eoins Professor Brl1gsch has shown
that the ratio between gold aud silver
IN the Egyptian coins was always main.
tained at to n ~. while Dr. Brandes
has shown that IN Bpbylonia, aud all
the countries which adopted tie Babylo-
nlnn standard. II was l 10 ~ 10.
"'lhcre have boon shRh1 fluctuations"
continues tho gentleman, 'snd there are
instances of dubused collage IN ancient
times, but for International trade and
tribute the old Habylunian standard was
maintained for very long tlns. How In
aud gold Ia the markets OF
the ancient world, IN spite II
the varying cost of production aud Of
the 1uctunt.2ig demand for either Hll-
yer or gold az different times and In
different countries, this standard was
We suppose the right OF eOining money
WIS reserved for the King, aud In an
Client times his WARRANTY was CONSIDERED
Of grcnler value than ~ II IN our days OF
free coinage and slight selgniOrage.
"Whatryer It wAg the fact reinalns,
as ny authority asserts, hllat from the
sixteenth oantnry. u. O., 10 our own
time, the appreciation Of gold has not
been more than | - from ~ ~ TO 10.
We know that AZ various periods OF the
MOrll'H history Tor inhtAncif, Ut luf illlb
OF the Persian wslrs, Of the discovery
of the East Indies aud The. conquest "
America, there was sudden intiux nf
one or the oihrr If tho precious metals.
Yet the cOmmon-sensa. the News aud
George Clntk 10 The contrary nptwith
tons Of antiquity, IN their anxiety TO
saf eguard the interests of trade, seems
TO have been able 10 maintain the respect
for the relative value OF silver ind gold
coin, II safeguar'Ld by 1ie warranty VI
tho slate. While coming strictly down
10 our own time, the ratio was mnde
10 to /, and maintained nj that for sew
sral years"
Surely. IN view Of these facts. we
need have no fear 'but Tint SILVER Ia due
course Of time Will adjust itself aud
mount 10 It's fornrr level with gold as
money Of the country that the nation
may safely 20 on colning The peoples
lolars for the people. but let the peo-
pie beware Of the gold-biigs. who Ut
he present jnnciure, u QUE l. 10 judge
iothiug shorl, aud viii be- snro to yet
I II fhe statesmen Of the Cleveland
Mills type are TO rlle oil this ISSUE;
ltEMEDiEN Itlt COMMENDED.
4 me customs dnues shoni1 hereafter
2 me silver bullion 10 the government
vaults should be sold for cnsh w gold 1u1
The proceeds converted to The treasury.
g. Three unt rriit gold uuide 10 tie
luiOunt ~ S'ab1.OuHl,iQ0 should be- SOLD nnn
The proceeds transferred 10 he treasury,
4. A dFy should be nxe not later ihan
January ]. ISIS for the relwnpiion ana
psS uient IL gold ~ M circulating notes
4 every kind heretofore issnsd b. The Eov-
arnnlenf.
3, Al least hnlf Of ihy. silver dollars ".
,n.d nnder The nt.is ~ tSTs did ~. should
b. sold ~ bullion and The remainder iulnird
mo snbsldinry silver cidn anu made legal
lender only M payneuI " so Or less
II Provision Should b. innde for The issue
u EaDUnul0 Ia gold lnnda a. basis
y banking making he conditions very I'D.
I. Tht basis u national banNlng should
ns 70 .'nlafg,qi us 10 iafiillt The lsnnc ~
notes on the deposit n nthcr
ham uniiYd stats bnni,r, he -or,ncy u
inch bonds 10 be passrd on BY Responsible
IiiiflAla.
y ~ bank ls.ues 10 bc redeemed ia
.od coin an demand.
D. preslura 70 The ist Of January, 1913,
he surplus fUuda Of fhn tiruttfy either
nauH AMI cullecllu1a ~ hf llncr4i WITH lnt
'snkA J4Aii1s ll1NihifAIio.