New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-24

feet first, the value OF silver to make it equal
to gold at the ratio Of is to !. second the value
OF gold: TO make 1t equal TO silver at l6 10 l. when
per cent is It not preposterous TO claim that free
and unlimited coinage now will 80 increase the
value of silver. when the discrepancy is 30 per cent
1t cannot he claimed that the, legislation by the
ned S,a'es IN & rsS sGrrouSy S, & rne a
furnished market for 100000 of silver, very
Sa IN SroS to our our ns tn.
days Of free and unlimited coinage of silver
The fall in the price OF silver can easily be ac-
counted for. In 1873 the worlds product OF silver
a. coinage ,gal value , WAS in ls S it EVA %as - s @
This enormous increase in the production of silver
took place. despite the fact that silver had fallen
BY legislation passed in 1917. Norway and swe-
s in ss ' GERMANY demonetacd "s Silver ye and put % s
% OF Su9n np9n he Tsrke,s 9r ur2pS
each suspended the coinage of demonctized sill
Switzerland. Italy and Greece was forced to sus-
pend The coinage Of silver because IT was found
Impossible. by free coinage. 10 sustain the value
Of silver bullion. This was done by suspension for
the suspension made without limitation to
the time OF continuance. Since then India Brazil.
Argentine Republic and Chilli have suspended free
The value of silver bullion has fallen since 1873.
account OF the enormous Increase in production
and on account of the decreased demand All Of
the reduction OF the value Of silver
To n restore the price Of b silver to rs rsre in 1873
duced its value Concede for the sake or argument
that the action OF the United States Of
those causes: IL is Illogical to claim that the re-
moval Of this one is TO remove the effect OF all
the others.
THESE WERE PRACTICAL TESTS.
We were unable 20 keep the value Of silver up to
gold under the Free Coinage act OF 1872 We were
unable to keep gold up silver under the Free
Coinage act OF 1854. France and her associates In
the Latin Union found themselves unable keep
silver up 10 gold IN 1874 The failure Of these
practica! tests. under far more favorable circum-
how ridiculous is the claim OF the silver advocates
The immediate effect OF the election Of Prcs-
sspi Of to eo qeh and % dollar TSd the be
dollar going tC premium Of about two for one
The currency consisting OF checks and bills of
change amounting to 95 per cent OF our entire cur
rency. would out OF use In consequence OF loss
OF confidence and credit, and tho result would he
the withdrawal of 97i. per cent OF our entire
rency and the paralysis OF business would imme-
dia,ey follow.
NO PRESIDENT WOULD APPROVE 1T.
I do believe that a Prcsiden, would ar
prove such legislation. If elected upon platform
with n Congress pledged to pass it The calam-
itous effects following such election would bring
TO them the prayers OF the very men who elected
them appealing for the defeat of such egts'a ton
Instead OF free silver Is 10 !. which means sill
yer monomet allism. a contraction OF the currency
and a temporary and permanent injury 20 business
which had been described. the Secretary urged the
necessity for sound money currency. consisting
of gold silver and paper but every dollar Kept
as good any other dollar. This would allow
the coinage of all silver which could he held nt an
exchangeabe value with gold. This would aEo"
the Improvement OF the banking system even 10
The extent OF repealling the tax upon State banks
under well prepared provisions regulat ting the issue
Of notes and giving safety TO the blholders.