The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-04-19

Union OF LATIN NATIONS
very interesting hut strictly partisan
letter has been received ~ the Post-in-
teIIigencer from T.. n. Godshsf. - Ever
ett. IN which he erisicaxes an editorial on
the output Of gold and silver. he n one
q those advocates. apparently. Who. ny
their sbic insis,znce upon every co1y CON-
ing az once 20 their conclusion. antagon-
the others at the outset The advocates
OF free and unlimited coinage Of silver do
not need 20 he converted. There Is
large class. however. even In The state
OF Washington which is interested IN tAe
facts and figures relating 20 the subject
and VINO day by day viii read occasiohal
articles. but have not arrived al fhae
stage yet when they can, like our cor
respondent, find the conclusions them
selves IN every move on the chess board.
We are very glad. however. 10 present the
conclusions arrived at by Mr.. Godshail.
with the gentle rehuke that. Ike most ar
dent advocates CO any cause. he Is too
ready 10 accuse. The article In question
did not state that the depreciation In
the price OF silver is not due 10 adverse
legislation" and the Post-InteIiigencec
has consistently urged that legislation Is
absolutely necessary 10 restore IL 70 It's
place IN the monetary system. Ii did not
say there had been "overproduction," but
that the ratio Of production of the two
metals in the United States had greatly
changed In the last four hundred years.
which IL fact that cannot be disputed
Our correspondent admits this himself.
''It is difficult." says Mr.. Godshaii. Ito
comprehend the enormous differences In
production OF the two metals. as shown
by the figures given, and TO more thor
oughly Impress Ii on the mind OF the read
or the figures are tabulated thus:
''iis5 to 1880 percentage was: Gold 6si.
silver ss.s. or 20 ].
''Issl 10 1850 percentage was: Gold ST..
silver Is. or 10 3
'1S5f 10 1850 percentage was: Gold Isl.
silver 2a. or . IS TO /.
ISL percentage was: Gold 100. silver
loo. or TO /.
Now, as 10 the question of the COM
mercial ratio. In 1857 II was 1894 to !.
From that time the ratio varied from II. 20
upward until 1865, when IL was 1905. In
1916 &c reached 1875. remaining below is
until 1874 when IL again passed into the
sixteens at i6fT' The later years are
then given showing how the ratio grad
uaiiy changed from Il to ] In 1873 to 3 Il
10 In isa7. and, IL might he added, TO
| 30 to 1 I'm 1893 or in the short space OF
| twenty years. from 1873 TO 1885. the ratio
| changed from i6 10 l TO % TO ]. or "A
| difference Of II points. With the produc-
tion. as shown. for the same period above
| 10 vary less than l per cent. while from
| 1851 to isss, or for almost 300 years, with
| the production at times varying accord
| Ing TO the editorial more than 80 per
| cent. the commercial ratio during this
| same period varied from 1874 TO / in 1857
| 10 1911 TO In 1874. one year after de-
| monetization, or a difference of IL units"
These figures" says MIR. Goodshall.
| taken altogether, are OF inestimaole
| value as showing that the commercial
| value OF silver has never materially
| changed no matter what the production,
| until 1874 when silver was demonetized
| and thereby the principal market and de-
| mand for Il destroyed
| With the conclusion we cordially agree;
| but even that does not destroy the value
| OF the knowledge that not until 1913 had
| silver been produced In anything like the
| ratio OF goblin that year they were neck
| and neck in the United States. Through
| out the world since 1888. on the contrary,
| the production OF silver had always been
| greater until about 1850. when gold and
| silver We're each about 81 oao.ooa In cKe
/ year gold jumped up from s3s GO TO
| siss 90 GO. hut silver did not lag behind.
| and from 81. 600 in $50 rushed forward
| 30 SiiS.0oa.0Co In 1855. beating gold by 49,
| eco Ia "a year. and IL has ever since
been ahead or gold. In lS92 tho yield being
Gold siSo. sf7 coo; silver. SlsS Cos. 600 or sG6
eoooo in one year. Since and including
ISS6 the following shows the annual out
| put 90 the world. as estimated hy the
| bureau of the mint: