Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1895-05-03

:. silver at tne European ratio OF ID. o.,
G to | Of gold, but to even establish a
e English ratio of II of silver to |
| gold, that is to value an ounce of 81
} yer at $l37Sl. Indeed, if the Go
: trnment Of the United States shoul
resume the unlimited coinage of 81
yer at the ratio of IL to |, every ns
ton would at once have to lose il
commerce with the S00,000,000 c
more people whose medium of G,
change is silver money, or to becom
a bidder in silver against our countr
for their trade. No nation could ge
any silver at a lower valuation thai
$l.29 even to supply its own needs TO
coinage purposes.
THE QUESTION OF RATIO.
Suppose that the people of til,
United States should resume the un.
restricted coinage of silver at til,
ratio of 15.9SSS to l of gold. Europe
an nations would be compelled, as ha
been seen, in order to have thei
share of the trade of the silver-usins
world, to reopen their mints to the
white precious metal. The ratio be
tween silver and gold in the coinage
systems of Europe is 1855 to l
There would, therefore, be great dan.
ger that unless the Government OF the
United States changes its ratio by
putting less silver than it now puts
into its silver dollars, or which would
amount to the same thing, and, per-
haps, be much better, putting little
more gold into the gold dollar, that
silver would flee from the United
States to foreign lands-iust as it did
for years prior to 1873. Under the
bimetallic coinage system it would
matter comparatively little if the sill
yer of the United States went to Eu.
rope as it would, by so doing, liberate
gold in foreign lands which would take
its place, to a very great extent, in
our country-as the monetary history
OF our country has we'll proved.
While the ratio between the precious
in Europe is 154 to |, the ration which
shrewd Great Britain may be said to
have established for her own benefit
is l42S to l. In Canada the ratio is
l4.95 to l. 1t is 10 to l in Great
Britain's possession known as the
Straits Settlement. In British India,
where there are some 2S0,0OO,000 oil
people, it is Is to l. In the Chinese
Empire, whose area is vaster than il
the area of the United States, it is Is
to l. On the coast of China Great
Britain has already powerful foot
hold. As far as England dares, she
may try to make of China second
India. English merchants would nat
urally at times recognize the Chinese
ratio OF IL to l. In other words Great
Britain would have the inducement OF
saving to En- glishmen, against Amer
ican encroschment, vast trade, TO
coin very large amount of silver at q
valuation OF something more than
eight and one-half cents higher than
the mints OF the United States could
give for silver unless they gave more
for it than at the rate OF 10 to / OF
gold.
American statesmanship should
guard the Government of the United
States against forming any entangling
alliance with European nations re-
specting ratio between the precious
metals. Should it do so, and
should Great Britain not join in the
arrangement, or should any govern
ment decline to become a party to
such an alliance, the hands of the
people of the United States would be,
to a certain extent, tied by such an in.
ternatiOnal arrangement, while ma
tions not joining it would be free to
underbid the people Of the United
States for the trade OF silver-using
countries. If our government re-
mains independent OF European poll
cies it can protect the interests OF the
people OF our country in their efforts
to trade with silver-using nations at
least on equal terms with British
merchants.
Twice in past years has the govern
ment of the United States changed the
ratio between its silver and gold money
by changing the amount of gold in
the gold dollar. 1t has never changed
the amount of silver in the standard
silver dollar.
WHY SILVER WAS DEMONETIZED..
A glance at the policy pursued by
great English financiers in respect
to coin metals of the world will help
Americans to understand the real rea-
son why certain class of people are
opposed to the Government OF the
United States treating silver as it does
gold. If a momentous game is being
carried on by the Bank OF England
and by q certain class of financiers
against American interests, every
citizen OF the United States who is
true to his own country should wish
to know it and should wish our Gov
ernment to protect the interests Of our
country.
There is very wealthy class OF peo-
pie in Great Britain whose recent pol.
icy respecting silver deserves far more
attention by the United States gov
ernment than it has received. To
this class it is estimated, on high au-
thority, there is due from various ma.
tions an amount equivalent to some
ten or twelve thousand millions ol
dollars. These debts were contracted
in large part when silver and gold
were alike money. The principal OF
and the interest on most of these
debts were payable in silver or in gold
or in both metals, at the option o.
debtors. The great and cunning
financiers of ENGLAND have beer