The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

had been discovered. the production of gold
would have made good the loss?
Eighty-three per cent. OF the loss has
been made good. and now the production OF
gold fully equals the production of gold and
o.1But was all the silver destroyed as
A.-Every dollar of silver then existing is
to-day, If existing. legal tender for It's
Q.-Has an addition been made to the sill
yer money of the world since 1870.
$4,000 600 to the silver money since 1878.
Q..You have seen Coins Illustration Oh
cube placed in the Chicago wheat pit. Is 1t
accurate?
Q.-Had the illustration been used in 1873
what proportien, S would the cube of 1873 bear
A.WThe cube of 1873 would have been less
than half the size of the cube of 1885
Q.-How is this conclusion reached?
in 1895 to be So 800, OOO. 0OO OF this sum 81.
3S2, 600 has been produced since 1873 AL
lowing for the losses by attrition and other
see that in that period the worlds stock
of gold has doubled, and that the cube Of
gold alone in 1895 would be as potential as
the two cubes of gold and silver in 1873
Q:.-Has the disproportion between the
any bearing on the question of coinage?
Alt has none at ALL for the debts of the
world world and not in gold, it being used to set
tie balances and for ultimate redemption OF
notes s tine d b fbs eatle yey u
born, by iron and steel and other minerals
still in the earth.
property it agrees to pay the principal and
interest in gold does it not?
Alt does, but in gold as a measure OF
value. AS a matter of fact, the principal
and interest will be paid in coal and will be
dug out Of the ground o,u,t -. Tho
comparative value which should fix the
ratio between gold and silver?
AZ fiy q raf
wool and cotton by weight or between coal
and wood, or between wheat and corn by
weight, so no intelligent man would attempt
to discover the proper ratio between gold
and silver by weight.
Q-But Coin undertakes to show by a
comparison between the weight of gold and
of silver that because the silver in the
world .'weighs' fifteen and ons-h hal times
and natural ratio is fifteen and one-half
What is the error in this reasoning?
A.-There are several errors. Formerly
it was contended that the weight of a
mans brain was the measure of his intel
lectual power; now it is admitted that It. is
and not it's quantity which determines a
mans a Se IS wisn
relation between gold and silver; no UNI.
bilical cord connects them. Silver is not
It is different metal. found under different
circumstances, produced by different meth
1t is the labor expended, plus the demand
which fixes the ratio of each metal in the
market, and that value Is the only nat
ural ratio, as jefferson asserted hundred
years ago.
Q-Is it true that at the present time the
silver of the world weighs fifteen and one
half times as much the gold?
A-Coin states it fact in his appen-
dix. But the ratio of weight is not fixed
by any law, and it varies constantly. There
is no means of knowing the relative weight
of the two metals in the arts and orna-
ments. 1t is found by experience that the
men of civilized nations refuse to carry
about with them more than 81 So per
capita. because it is some twenty-five times
as bulky and sixteen times less valuable
per weight than gold, while in free-silver-
coinage countries it takes thirty-two ounces
of silver to equal one ounce of gold.
Q.-What evidence is there that the ratio
of weight varies or has varied?
A.-Munhall, the great statistician, SO
often quoted by Coin, gives an estimate of
the production of gold and silver for 1863
years, or from 1880 to 1889. The product of
gold in tons is 215. 293 of silver, II .436. This
is ratio of 10 to l. AS it covers a long
period it is more trustworthy than an esti-
mate made at any given time, for statistics
to have any value must be comprehensive.