Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-10-15

YER was the unit, the unlimited demand
for gold to coin into money, made tht
demand equal to the supply, and thi!
held uD the value Of geld bullion
There is no truth whatever in the state
ment that silver has become so plenti'
full that IL has ceased to be precious
metal. Statistics show the quantity OF
silver and gold in the world, both coin
ed and uncOined, as follows: In 1000
there were 27 tons of silver to one OF
| gold. In 100, "a tons of silver to one
gold. In 1900, 80 tons Of silver to one
of gold In 1s4s, 81 tons Of silver to one
| OF gold In 1850, IS tons OF silver to
one of gold, and in 1890, is tons OF sill
YER TO one Of gold The United States
| has been producing more silver than
ever, or was until quite recently,
but the balance Of the world
is producing less. Ihey
are taking our silver away from us at
! their own price. Instead Of silver be-
Gaming more plentiful 10 Is becoming
less plentiful, as compared with gold.
/ In 1873, the time silver was demonl-
tizsd, silver as compared with gold was
worth S1.O2. The argument OF depre-
ciated silver could not then be truthful
" made. None Of the arguments now
made against silver was then possible.
Silver was recently demonetiZed, and
since then a cOllOsal and powerful
money combination has used every de-
ceDtion and manipulation in order TO
deceive and deude the people as TO the
truth in regard 20 this question. This
combination has been successful in
leading tens OF thousands Of honest
minds astray. Up TO 1884, the gold In
a gold dollar was lis the weight OF sill
yer in silver dollar. Then the ratio
was changed, the quantity Of gold in
gold dollar was changed 10 lilo the
weight Of silver in silver dollar
The quantity Of silver In the silver dol
lar was not disturbed, being the unit,
was respected, and remained the same,
so that the ratio prior to 1873 was fixed
at 16 to 1, aud for the purpose OF coin
ing token silver dollars is still the ratio.
liz seems a puzzle 10 many that we can
have az fixed ratio the same CONNER
cial value on two separate metals, that
vary from time 10 time in the quantity
OF each produced. The commercial |
value Of any com modidy depends on |
supply and demand. II the demand for |
a commodity continues TO rise and the |
supply does not Increase, the CONNER |
cial value OF the commodity will con-
tlnue 10 rise. When the governments |
coin all the gold and silver offered, an
demand is established. The |
supply is limited. With an unlimited
demand and a limited supply there is
nothing TO prevent the CONNER
cial value OF the two metals
from increasing in the market
except the governments step in and
say, The office Of legal tender money
has been conferred upon these metals
and We fix the value at which they cir
culate. We furnish an unlimited de-
maud, the price Of 37I4 grains Of silver
is fixed al Sl.OO, and the price Of % 2-10
grains Of gold is fixed at S1.O0 We
stamp them into dollars respectively
and 10 those quantities. While an I'M
limited demand has been established,
the point az which the supply can take
advantage Of that demand is fixed. The
demand pulls them both equally plumb
10 to that point. AT 10 70 l aud 37l4 |
grains Of silver as the unit, the com
mercial value of 37114 grains OF pure
silver is a dollar, and an ounce OF silver
is worth Sl.29 29-lOO and % 2-10 grains
Of pure gold is worth dollar and an
ounce OF gold would be worth
SCOT 64-1OO. IL the mOn'7 de-
mand for either one o. the
metals is relaxed and the money
demand for the other continued the
commercial value Of the two metals,
under the inimitsble law Of supply ana
demand, will Of course separate. The
sole cause Of this whole trouble Tor
difference in the parity OF the metals)
is the taking away the money demand
from silver England demonetized sill
YER in 1916. but as Germany, France |
and the Latin Union aud the United |
States had free coinage Of silver and |
gold, the demand thus created contin- |
ued the two metals on an equality In |
value, consequently the commercial
value Of silver as measured in gold was
prior to 1873 substantially equal in
England aud the world over. The
limited States demOnetiZed silver In
February. 1878; Germany did the same
I n July, 1873, and France and the Latin
tTnion closed their minis TO silver In
kanuarv, 1874, and in consequence at
be end of that year silver measured oy
bid had dropped per cent. Then
IlOwed the gradual breaking down OF
a commercial value Of silver
compared with gold. The act
Used i'm 1876 stopping the
mage of she trade dollar, and the law
1S70. authorizing notes, bonds and
rtgages TO be taken, payable in gold,
listed To further discredit silver.
ese laws have been followed up by the
ressed policy OF the government TO
eem all the other money, Including
Ter. in gold. The same class Of legiS-
on was simultaneously in progress
Europe. Then came the close OF
Indian minis to silver, which In
sed the decline as compared to gold
bout 50 per cent Mr.. Sauer6eck,
Eogiish statistician, has compiled
"a showing the commercial value OF
as compared with gold in the Lon
market-in gold standard, Eng
for 70 years prior and 10 years
euuent to 1873, the time silver was
bnetized. Notwithstanding the
ing Quantities OF the two metals, the
ars prior 10 decentralization under
coinage Of both metals, silver at no
varied more than ? per cent-S-lO
Ter cent. was the least and 2 per
even was the greatest. The aver
II the nineteen years prior shows
MUM in silver over gold, which is
nted for by the differences in the
in France and the United States.