The Washington times., 1894-04-29
MUST STICK TO IS TO 1. :

Suggest 4Ons on the English Proposition to
Make the Coinage Ratio 25 to II.
To the Editor of THE TINES:
The silver specter of 1893 scared the commune
ties Of the world, but the hobgoblin, as 1t then
appeared, did not disturb the executives OF
nations, who plodded on in the profundity OF
their wisdom on the science of money without
regard to the consequences that would follow.
Trade unions and combinations are now exer-
cising themselves in Grent Britain and the
United States of America, formulating another
outburSt OF international Indignation. caused Dy
the depreciation Of silver all over the world,
the appreciation Of gold all over the world, the
disturbance in values all over the world, and the
burden Of national and International indebted.
ness, where principal and interest is payable and
repayable in gold, consequently the crusaders on
monetary reform are knocking at the door OF
every community. The absorbing topic oil con-
versation at cabinet councils, legislative assem-
blies, universities, clubs, and with professors OF
political and financial economy III Great anu
Greater Britain, Germany, Italy, Spain, and
other countries, is the ratio that silver should be
to gold
No beneficial results can possibly arise from
any such discussion, and the subject vi the ratio
is simply put forward by monometallists IN
order to aggravate the situation, proiong the
day of settlement, and further intensity the
woes Of the great human family on earth Any
alteration in ratio betwixt gold and silver prior
to the enforcement of the two precious metals,
and any discussion concerning the ceremonies OF
reconing the silver of the world, is Hypothetical
i'll the extreme, and such theoretical problems
should be dismissed without a thought by the
people of the United States OF America and the
Republic of Mexico, who are the Two largest
silver-producing countries in the world, Tor
doubtless such expressions of opinion are put
forward to agtate and disturb the pubic mlnd,
by those whose interests are welded together In
the gold standard All arguments affecting a
change in the relative legal ratio OF silver to
gold is utterly untenable, and moral lmpossi-
bility. All palliatives have failed. there Is no
middle there 'hal1Way
between debased currency and honest bimetal-
lism on the old ratio.
The silver currency of the world belongs 10 the
people. Either silver has been lawfully divorced
from gold, by and with the knowledge ana con-
sent of the people, or il has not; if the former,
then silver must remain as divorced commod-
ity, and simply worth its market price. But II
the latter, then it is worthy of the government
stamps which restores silver TO its former stand
ard value: but there must be no change in the
reunion of the two precious metals as 10 the
ratio should the communities of the world de-
eide that silver shall lawfully be rehabilitated,
in which case 1t must be placed side by SIDE as
the helpmate of gold at the old ratio.
Silver as legal tender debt paying money IN
the hands of the people is right and proper, and
they cannot have too much of it, but silver Win
out the government stamps and standard is
nothing more than money tokens and the peo-
pie are justified in demanding OF their respective
governments the redemption OF silver IN gold
Silver must either be the lawful helpmate OF
gold remain its concubine, and if silver by
the sophistries of diplomacy has been wronged
by any legislative enactment IL must be legally
put right and reunited with the same lawful
ceremony that deprived it of its coniugal rights,
and legal debt paying virtues. Either silver as
the lawful money of the people was divorced
from gold in ignorance il was not: if the former
then il must be relegated from the stage OF un-
lawful concubinage we find II in 1884
The cost of recoining the silver Of the world
would be enormous as practically TO pre-
clude the possibilities of ever being consunl-
mated. Silver must go back TO where II was, at
the old ratio, or remain where il Is The mon
ster monetary reform demonstration To be held
at the official residence of the Lord Mayor OF
London on Wednesday, May . will be event
in the history of nations, provided the meeting
pledges itself TO support the old ratio OF silver
TO gold and calls upon the government of Great
Britain TO bring about an International arrange
ment for that purpose.
HERBERT NJ GADD, Jr.
MANCHESTER, England. -t