The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-07-28
A CHANGE OF RATIO.

It is stated on good authority, and re-
peated by papers favorable to the gold
single standard theory, that leading
financiers in London are changing their
views on silver and are urging an inter
national agreement for free coinage at the
ratio of 20 to 1. If that is correct should
not this country be willing to meet them
on these terms?
We are aware that there is very strong
sentiment throughout the silver region
that Is to is the proper ratio, taking
history and experience as q guide and in
view of establishing something likely to
remain as fixed standard. But it is a
fact which everybody should take into
consideration that. in consequence OF the
bearing OF silver in the markets of the
world, the disparity OF its value with
that of gold has become SO marked that in
che popular mind silver has become
cheap, and the idea of placing the present
dollar on an equal footing With a gold
dollar is rejected as dishonest. A change
of ratio therefore is the only probable
chance for the restoration of silver.
The opponents of silver coinage find in
this disparity one of their most striking
arguments. 1t reaches the common
mind with a force that is hard to over
come. 'sWhy should sixty or seventh
| cents worth of silver be forced upon the
country as dollar for the benefit of the
rich silver miners?n That is the form in
which the question is put. The answer
| that it is gold that has gone up, in the
drawing apart in value OF the two metals.
that this is due to the characterization OF
the white metal, and that they would
come together again on the former plane
as consequence of the restoration of sill
yer, does not at once remove the impress
sion in favor OF gold. That remains on
the public mind and is honestly enter
tanned by hosts of intelligent people.
Why, then, would it not be.wise. in
deed the best, if not the only thing that
we can hope to accomplish in the ap-
preaching struggle for silver, to adopt
the 20 to ratio, whether England moves
toward that point or not? The reply will
come from many local enthusiasts: saThe
ratio of 16 to / is right; we only want
what is right, and we ought to ask fol-
nothing more and bewilling to take moth
| log less.'' That also catches the popular
ear in the silver regions.
Looking at the matter from all points
studying the probabilities and consider.
ing the certainties, we take the ground
that any setting of stakes in this matter
will be suicidal. Silver can be produced
at a fair profit for dollar an ounce. The
ratio of 16 to would make it LOB. The
right figure is 1929. no doubt, but under
present conditions it cannot be had. Is i
not poor policy to reject something that
would be of immense benefit because we
cannot get all we want and perhaps ought
to have?
There are many conservative men in
and out of Congress, and in England AS
well as America, who are of the opinion
that bimetallism is impracticable at tht
ratio OF 16 OF silver to of gold, but who
agree that at change to not less than q
to free coinage would be beneficial. i
it not better to gain their support anc
win the fight, than to stand stubbornly
for the unattainable and lose everything.
| We submit this to the radical silver
men OF the west, and strongly advise
them not to antrgonize the cause they
sincerely desire to maintain. by tenacious
adherence to an idea and logged deter.
mination to have all or nothing. Let US