The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1894-07-23
Mention The Constitution.

20 pounds of pure silver to offset / pound
of pure gold, instead of 1888 pounds Tor
16, as it is usually called of pure silver, Will
Immediately reduce the stock of full legal
tender silver in the United States one-f1fth,
and in the world between one-ffth and one
fourth cause the owners of silver collars,
representatives of silver dollars, to lose
one-fifth of their holdings, and will increase
the debts of the people, now payable IN Sill
yer dollars, one-fourth.
The present gold dollar contains 25.8 grams
of standard gold, Of which 23.& grains Is
pure gold. The silver dollar contains 4l250
grains of standard silver, of which 3n2
grains is pure silver. AS the ratio is be-
tween the pure metals it will be seen that
at Captain Turner's ratio, 20 to /, we shall
have silver dollar of 464.40 grains pure
and SIC grains standard, silver, requiring the
addition to every silver dollar outstanding
of 9315 grains of pure silver, increasing by
opa-fourth the pure silver in each silver
dollar.
AS good an estimate as any of the amount
of legal tender silver in the world express
ed in dollars, is 49, 100000. Recoinage at ~
to l would cause loss of $700, 100000, II 1t
were all in crcula ton at 16 to ]. hut, as the
European ratio is 1879 to l and the East
Indian IS to /, the total loss would be rather
over than under the enormous sum OF $Soo,-
600 coo, which is SO 1-3 per cent more legal
tender silver than we have in the United
States, and more than is held by any coun-
In this country we have, in round num-
bers 42O, 600 900 silver dollars in circulation
themselves, or by silver certificates, ana
bullion enough idle in the treasury 10
coin into 180000,000 more, making total
supply of full legal tender silver money OIL
5000 900 600. Let Captain Turner's PROPOSE
ton for ratio of 20 to ! be adopted and at
once one-fifth of this stock or $780, $1,000,
will be wiped out effectually ana be as
completely lost if, with no change of ra-
ito 12O 100000 of our present silver dollars
were dumped into the middle of the ATTAIN
tic ocean,
rhis loss would fall upon those who hold
the silver dollars ct the time the change Of
ratio goes into effect-so much upon the gov
eminent and so much upon the private indi-
vduals. Every man who holds 500 or shy
will find that the new law has taken from
hlm $40 or 500 of his money, as the case may
ne.
Moreover as debts are payable in dollars,
the debtor owing 500, which he may satisfy
now with 100 of our present silver dollars,
will have to pay, after the change, lOO Sill
yer dollars at the new ratio, containing as
much pure silver, and being equivalent to
125 of our present silver dollars.
On January l, 1894 the treasury depart
ment statement showed a circulation in the
United States of 81, 729, 01S266, upon an estl-
mated population of 81, SOS 900. The same
statement July l. 1894, gives a circulation of
$l664, 061, 232 upon an estimated population
of 6S 1891, 900.
With an increasing population and de-
creasng currency what reason can Con-
gresham Turner give for advocating a
change of legal ratio between gold ana Sill
yer, which will carry with it further con
traction in our circulation OF $lZo09V,oVo'
Why advocate a measure which VIII reduce
every mans holding of silver by one-hlth
and increase his indebtedness one-tourth'
Your report says that Captain Turner does
not believe that parity between Solo am
silver can be restored at the ratio OF 10 ~ l.
In the face of the distress all over liz
country and the world on account Oh inc
decentralization of silver, it ought not ~ oe
asking too much of the congressman ~
urge him to Law aside his doubts TOR aWhl!e
and advocate the restoration OF the law a9 II
existed from 1892 to 1873. ms Woulu 9oO
to be a better course than Votihs loi
change of ra ito sure to result as herein '0'
forth. ,o
For the last twenty years there mas peeh
1aes silver in the world in proportion ~
gold than ever before. In the last huIiuiSu
wears the gold product mas eAceeue" 49,
silver product by over $ozo,U0ooVo. Ia rNl'
oanturv the Weld has varied, being at ulllel
~ ti,,as "a of gold to 81 of silver, ana 81
Of ef' silvnr 10 81 Of gold. For seventy years
after 1903 the commerclal rdilo % f 3tlr tho
80 ala NOT vary over per cent from INC
SSol alto though the French mint III one
neriol of twenty years c0lneo iiie ~, oTioS
nn,nch silver as gold, ana III d iatei PG rnij
~ ron Years sixty-four times as much Solu
as silver. eors are n1rely imagin-
orv If mast experiences are 10 coui. 10
.nyy,thins Certainly they ought 70 wa t,nit
81 rnst0ration of the law OF elsnIy yG"i9
tiie .'jnr in order to see whether II Will not
,oris as we'll now as it did before 30. ~,
~ ont-and out monometallst deVotes MI I
+;n, n' ~ the attempted decentralization OIL al
LEGAL tender silver money 4.ueoa WITH +be
5tantaiu Turner will be satlslieu VIZ. VII ~ nc
7ot}1,ction of one-fifth of 1T, but only as
" boginnine'' to again quote your pdpei.
This seems the only pracllcal q q1l re
between them. f1H-t>i'h
Mr.. Garrard's Appointments.
1,ol1o,yine are the engagements Oh HON.
u Carrard this week.
At IaFevette, Walker county, on Monday,
July ed. + rroa
July oath. ,,r,, -
Al At Calhoun, Gordon county. Friday, July
At Gainesville, Barlow county, Saturday,
At Marietta Cobb county, Saturday night,
July 2Sth.