The Delta independent., 1894-06-20
THE MONEY METALS.
Why Gold and Silver Wero Originally
Adopted.

Why Gold and Silver Wero Originally
Adopted.
In lengthy article upon the subject
of the esta blishment of the money sys-
TEN and the medium Of exchange, Chi
cago Coin tells why it was decided to
adopt gold and silver. The reasons
were:
l. The quantity Of these two metals
was limited. There is now in the world
at the ratio of 10 to 1, outside OF what
is used in the arts and sciences about
an equal quantity of these two metals,
or about 81. so Of each or IS. 90 of both,
per capita, and free coinage could be
given to both, that is an unlimited de-
mand could thus be made for them,
and where an unlimited demand is
thus made to exist, it brings its value
up firmly to the price fixed upon it by
the government. In other words, the
government could coin it all and still
not have too much money. ~g.,ss.
.. For their adaptability us money,
both possessed substantially the same
qualities. Neither would rust, corrode
or stain, and both were odorless. Of
the two silver was the most durable,
and this fact was considered when it
was selected as the one to be most
handled.
3. Their intrinsic value was regarded
as greater than any other metals This
was on account of their qualities as
above described, fitting them for uses
in the arts and sciences where nothing
but the purest metal could be used.
This use, together with their limited
quantities and the cost of finding and
y,
value, when measured in other property
by barter and exchange, without refer
ence to their use as money, SO that
when money was made of it, he who
owned it, owned something of value,
whether the existence of the govern
ment that had placed its stamp upon it
continued or not
4. Because they were precious met
ais. Neither of them are found in even,
regular or continuous veins. Geologi-
cal formation discloses the popularity
of the form and condition in which
they are found, with rs much certainty
that they will continue to be found in
uncertain and uneven veins as that
coal and iron will always be found In
even and regular veins.
Mining for either gold or silver has
always been an uncertain and prcca-
rious business and always will be,
What appears to be fortune sin
sight" to-day, turns out to be 4 ''poclt-
ct" and is gone tomorrow. True, .'ils-
sure veins vary every few feet in both
quantity and quality and n majority Of
them are of too low grade to be worked
oroftably. 1t has been estimated that
from the beginning OF mining until the
present day there have been two dol
lars invested in gold and silver mining
to every dollar taken out But the
fact that n few strike it rich has
caused, and will continue TO cause.
many to engage in it.
The condition that surrounds these
metals is n guarantee that they will
never be found in sufficient quantities
to make too much money, and expert
ence has proven that not enough Of
both has been produced and it has been
necessary to add paper Tor credit
money to the supply
The report of the director of the
mint shows that there was in 1890
little over IS per capita of both gold
and silver in the world, available rs
money. and about an equal qua nifty of
each ut the ratio of 1 to 10, while s24
per capita in the United States and $50
per capita in France of all kinds OF
money is regarded as n normal amount
and to work their circulation up to
these amounts it has been necessary to
issue credit money"
There came time when money
changers decided to demonetiZe one of
these metals. These money changers
deal in money. To them money is
crop 1t occurred to them that il they
could limit the supply Of money to one
half the quantity then in existence
what they had would be twice us val
liable. All notes due them would In
like manner be more valuable, rs they
would be payable in dear money
In accomplishing the purpose they
adroitly enlisted the influence of near
ly every / ody who had n little money in
savings banks or life insurance compa-
nies. through the fear that their invest
ments would be paid to them in cheap
money; and who were perfectly willing
that it should be paid to them in dear
money. They did not stop to think,
nor did they expect the effect would be
to cut off their source of making money.
The plan of the large money holders
was to make money more valuable and
enhance it's value when measured in
everything else.
Now is the time to prepare for next
years great silver campaign.
The Denver News believes that n new