Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1895-08-08

w oAu gnu pdCA 80 years IuLOu&u Tue
above period for the purpose of show
ing that the two metals were main.
tanned practically at the same point
without difficulty SO long as the
civilized world chose to adopt the BIZ
metallic standard. We give the ratios
in a form of a table:
Year. Ratio. Year. Ratio.
ros5..",.. ....1+.s4 169s...........rs,o7
l72o... II
1oo3.....-. .....I5. ~
S5I.....-......Is 40
Ie72..............IS.o3 oo@.............32 ga. So
GOLD H REAL MEASURE OF VALUE
Mr.. Horr-An these inquiries about
the valuation in the ratio of the past
are of little account in this debate.
This one fact is admitted by Coin and
disputed by no one. All the civilized
nations of the world have ceased the
free coinage of silver upon any any. ra-
ito. Silver today has no free coinage
in any country where gold is the
standard, and only such countries as
are using silver as the unit and meas
ure of value. 1t is admitted by all, SO
far as l know, that the real measure
Of value in the commerce between ma
tons is a grain of gold. All gold coins
of all nations pass, and for that matter
gold in all forms passes current and
the value of such coin or piece is de-
termined by the number of grains of
pure gold contained in the same with
out regard to the shape in which it
may lie found. That, understand me,
is to the international balances of the
world in commercial transactions.
"The balances between nation then
are all calculated on a gold basis. Sill
yer is used rs money in all nations Of
the world, but in the civilized coun-
tries only as q medium of exchange
and not as a measure of value. It
matters little how such a state of at
fairs has been established since it is
the existing fact, hence all this talk
about what has been done in the past
about ratios, and even as to what has
caused the low price of silver today is
of little consequence. Silver is cheap.
We both agree to that. The great
commercial nations of the world all
refuse to use it as the measure of
value. We don't dispute about that,
and hence they are ali today refusing
free coinage. No coins which are of
less value than the market values of
the metals in them would indicate
dlc CNct ClCdCCu dS tuC ulGdSuIc Ol
ultimate redemption nor ever passed
current at their face value, except
they are redeemablein money which is
worth a S much coined as uncoined.
Hence it is impossible to make silver
the money OF redemption in a nation
doing business OF a gold basis except
at it's commercial value in gold, and it
is useless to attempt to make gold
the money of redemption in a country
on a silver basis except as it's CONNER
cial value.
"The objection to independent
himetallism is that the parity between
the two metals cannot be maintained
at our ratio of 16 to l; that is, the
gold 22.3 grains in the gold dollar will
be worth more than the silver 371L
grains in the silver dollar. We have
twice changed the quantity in the gold
dollar each time making it less. If the
commercial of 22.3 grains of gold is
more than the commercial value of
3714 grains of pure silver, then re-
duced to % grains, 81. 20 grains or less
if necessary, to put the two ut a ratio
where the practical effect of free coin
age, when once set to working again,
would demonstrate that the ratio is at
it's natural point, and parity easily OBJ
tanned, reducing the gold in the gold
dollar would leave gold for more dol
lars, and this would assist in establish
ing rising prices, as it would multiply
the number of dollars. And then
again on page lab he says:
With silver remonetized and & just
and equitable standard of values, we
can, il necessary, by act of congress,
reduce the numer Of grains in a gold
dollar till it is the anne value as the
silver dollar. (Applause.) We can
legislate the premium Of our gold,
(Applause) You see Mr.. Harvey ap-
plauds himself when there isn't any
body around, just a. you. Who will
say that this is not an effective rem
edy? ] pause for reply. That don't
say applause. 1 wish you would cheer
that. daughter and applause.) Now
then, what becomes of his ratio of 1e
to one? Here is what he virtually
says: The gold dollar may be cut
down if need be so that the ratio shall
be Is y. If silver remains as cheap as
it is today he will then retain the l6
The boys mathematics, however, are
as defective as his veracity. Mathe
matically 16 to kis the same as 30 to l
so it is not iteration he cares about
MI. Harvey-Mr Horr's divertine
this argument by going to the last
no purpose, for when we have ascer
reached the place that he has las
spoken Of it will betime enough for nj
to answer Mr.. Horr as to the last pro
l-~-s>~~ 10 -~1> 49, NJ