The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1895-05-04
WESTMINSTER. MD.
SATURDAY, MAY 4, 1895.
Inquiries and Answers.

MEssRs. EDITORS What is meant, in
speaking of the coinage of gold and silver, by
ratio of Is to ? What do the silver advo-
Gates want?
The meaning of l6 to is the difference in
the value of silver and gold that prevailed
the world over for many years, and prevails
today 1t means that one ounce of gold is
worth as much as sixteen ounces of silver
that the silver dollar must contain l6 times as
many grains of silver as a gold dollar does of
gold This is not the exact ratio in all coun-
tries. for in Europe the ratio is about log TO
|. In this country it has varied from l5a TO
l6 10 l, but l6 to | has been the usual ratio.
England has but the single gold standard, and
so has Germany. but both use silver as subsid-
iarv coin,-coin less than a dollar. And
this subsidiary coin is only legal tender for
very limited amounts. France maintains
double standard Of gold and silver, and protects
her money supply by paying out gold or silver
in the discretion of the treasury officials
The United States had double standard,
gold and silver, until the silver dollar was
cut off bv the act of 1873. Prior to that act
anybody who had silver or gold bullion
could take it to a United States mint and
have it coined into money without mlntage
cost, Now holders of silver cannot do II, but
holders of gold can. When the people found
that the silver dollar had been dropped a
clamor arose for its restoration. The demand
vas so strong the Bland act Of 1873, provid
ing for the coinage of silver dollars, was pass
ed. but the number was limited 10 not less
than two million a month and not more than
four million. This was not altogether salts
factory. and the Sherman act of 1890 was
passed. And this was not satisfactory. either
and the law was repealed in 1898.
As to the second question, it may be said
the silver advocates are not all Of one mind,
except as to the ratio. Some. extremists,
want our minis opened to the silver Of the
world. Others would limit free coinage to
the American product. The sigle gold stand
ard people want only gold as the basis OF
circulation. The bimetallists contend that
there is not enough Of gold to base a sufficient
amount of money upon; that single standard
is too Anctuating to properly measure values
and debts: that It Is within the power OF
bankers to hoard gold and cause it to appreci-
ate in value. whereas with double standard.
gold and SILVER, people could pay in either
metal at their discretion. and thus prevent
boarding of either and the better preserve
stability. If an effort were made 70 hoard
gold debts could be paid in silver. With the
demand for gold being curtailed the price
would decline and the hoarders would lose.
If an effort we're made to hoard silver, debts
could be paid in gold, and with the demand
for silver eurtailed It's price would decline and
the hoarders would lose.
The single gold standard advocates claim
that with the restoration Of free coinage Of |
silver, and the large amount Of gold required
to pay debts in foreign countries where onls
gold is accepted, this country would soon be
depleted of its gold and We would be on q
silver basis only But with the expansion of
our export trade, now rapidly going on. say
the bimefallists, the balance Of trade in oar
favor viii soon even up balances, and oar
gold supply viii not be diminished
The platform Of 1892, upon which Mr..
Cleveland was elected. aud which Is the |
latest authoritative declaration Of the Demo
cratic party, declares
SECTION T. We denounee the Republican legisla- {
lion known as the sherman act Of ls, as eowartly
makeshft fnght with Possibilities Of danger IN the
future which should make all Of its supporters a.
well lis author, anxious for is speedy ~
peal We hold TO the use 81 both gold snd silver |
as the standard money uf the country. and 20 the
coinage Of both gold and silver without discriin !
Mating against either metal OF charge Tor miniage-
bat the dollar unit Of coinage Of both metals mus
he Of equal intrinsic and exchangeahle value or he
adjusted through International agreement o. py /
such Saiegaris Of legislation shall ins'lrc the
maintenance Of the parity Of the two metals and /
the equal power OF every dollar az 81 times IN the
markets and the payment II debts and demand 1
that all paper currency shall H. kept A. par vita
and reteenahle IN such coin