Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1895-12-13
ON THE FREE COINAGE OF SILVER
Large Share of Our Financial Perplexi
ties Charged TO That Notion.

Large Share of Our Financial Perplext.
ties Charged TO That Notion.
While I have endeavored to make
plain statement of the disordered condi-
ton of our currency and the present dan
gers menacing our prosperity and to sug-
gest a way which leads to q safer IMAM
cial system. 1 have constantly held In
mind the fact that many of my country
men, whose sincerity do not doubt, In
sist that the cure for the Ills now threat
ening US may be found in the single and
simple remedy of the free coinage OF sill
yer. They contend that our mints shall
be at once thrown open to the free. un-
limited and independent coinage OF both
gold and silver dollars of full legal tender
quality, regardless of the action Of any
other government and In full view Of the
fact that the metals which they suggest
calls for 100 cents worth OF gold in the
gold dollar OF the present standard and
only 80 cents in intrinsic worth of silver
In the silver dollar.
Were there infinitely stronger reasons
than can be adduced for hoping that such
action would secure for US bimetallic
currency moving on lines OF parity, an
experiment SO novel and hazardous as
that proposed might well stagger those
who believe that stability is an imperative
condition of sound money. No govern
ment, no human continuance act of
legislation. has ever been able to hold the
two metals together In free coinage at a
ratio appreciably different from that which
Is established in the markets Of the world.
Those who believe that our Independent
free coinage Of silver at an artificial ratio
with gold of 16 to 1 would restore the
parity between the metals, and conse-
Quently by such coinage oppose an un-
supported and improbable theory to the
general belief and practice Of other ma
tons. and to the teachings OF the wisest
statesmen and economists Of the world,
both In the past and present. and what is
far more conclusive. they run counter to
our own actual experience.
HE QUOTES HISTORY.
Twice In our earlier history our law
makers, In attempting to establish a BIZ
metallic currency, undertook free coinage
upon a ratio which accidentally varied
from the actual relative values Of the
two metals not more than per cent In
both cases, Notwithstanding greater difd-
culties and cost of transportation than
worth were undervalued in the ratio
gradually and surely disappeared from
our circulation and went to other coun-
tries where their real value was better
recognized. Acts of congress were i'm
potent to create equality where natural
causes decreed even q slight inequality.
Twice in our recent history we have
signally failed to raise by legislation the
value of silver. Under an act Of congress
| ed for more than II years to expend an
nually at least "a. 900 in the purchase
Of silver bullion for coinage.
The act of July IA. 1880. In a still holder
effort, increased the amount of silver
The government was compelled to pur.
/ chase and forced to become the buyer
annually of 81. 000.000 ounces, or practically
the entire product Of our mines. Under
both laws. silver rapidly and steadily de.