The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1894-04-26

ton. for century at least. This is surely
. sufficient basis to start from.
Tie production OF both metals in the
future can be calculated from that Of the
past, in the light Of our present knowl-
edge Of the gold and silver fields Of the
world. and the quantities produced when
production was stimulated by the highest
prices, and depressed by the lowest. That
such calculation should be exact 10, OF
course, idle to expect; nor is il necessary
that il should be so. When the immense
stock Of the worlds already accumulated
money is considered, it seems clear that
the calculation can approximate to the
truth sufficiently to render any serious
disturbance out Of the question--provided
that the nations Of the world, having
ascertained the probable cumulative ratio,
agree on and establish the ratio Of value,
and so give TO that ratio the power TO de-
fend and maintain itself. And even II
some change in the estimated relative pro-
duction should occur-a change so enor-
nous as to necessitste = readjustment Of
the ratio OF value, the evils arising from
such a readjustment would be insignlfi-
cant, indeed, compared with those that
the. gold monometsllic standard is con-
tinuously inflicting.
The appreciation OF gold, consequent
upon its economically false and tyran-
nous position, has correspondingly low
cred the values Of everything else--of all
the productions of the earth, and OF the
mind and labor OF man. Il is not over
stating the case to say that il Ia the most
disastrous and widespread folly that the
world has known.
a depreciating standard would be far
less hurtful than an sppreciating one.
But neither is necessary, as neither would
be fair. The use OF both gold and silver
as money, with an approximately correct
ratio OF value between them established
by international consent, would make q
standard which would be steady, and I'M
speakably fairer than the gold standard,
and would go long way towards remedy.
ing the evils arising from the existing
inadequate supply of money. To this, or
something more, the world must come as
surely as that an immense preponderance
of interest must, sooner or later, rule. II
every man in America were convinced Of
the paramount importance Of this matter,
and lost no opportunity Of doing what in
him lay to assert and insist on his convic-
ton, the day Of deliveranco would be has
tened-because The truth is great, and
will prevail"
Americas attitude at present is one oil
dignity and common sense, and II is en-
dorsed by the moderate and thinking men
Of both parties. Every effort and great
sacrifice are justified in the bringing about
Of an International agreement. But II
within reasonable time land in deciding
what constitutes u reasonable time the
magnitude OF the question must be con-
.idered3 England does not experience q
change OF heart, then America must act
independently OF England.
1t is neither necessary nor advisable at
this time to 90 into what would then be
the inevitable policy Of this country. 1t
must be evident to every intelligent and
unbiased mind; and events, meantime,
are only making that policy more certain,
and its successful carrying out more easy.