Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-12-03

While I have cudeayorei TO m,ts
plain statement OF tho dlsordorsd eopsL
ton Of our currency aud the Brs,,
ont dangers meuAclng our pr,.
perily, aud TO suggest q way which
leads TO safor financial system
/. have constantly had In mind ths h.s
that many ai my counlrymsn. who's.
sincerity do not doubt, in,i.l that IN,
cure for tho Ills now threatening us NAV
DO found In tho single and simple rom.
ody Of tho free coinage Of silver They
contend that our minis shall DO a. ono,
thrown opon to the tree, unlimited and
independent coinage Of both gold and
silver dollars Of fill legal tender quality,
regardless OF, tho action Of any o.hs,
government, aud la fui. Wow Of The f,d
that tho ratio between tho metal. wbIsh
they suggest calls for one huuifgI cent?
worth OF gold In tho gold dollar al tht
present standard and only Hhv cents 10
Intrinsic wOFlh OF silver ln Tho oliver
dollar. We're ihero infinitely stronger
reasons than eau ho adiucoi Tor hoping
that such action would secure for usa
bimotallic currency moving On limos Of
party, an experiment no novel and
hazardous ~ that proposed might we'll
stAggor those who hOlieyo that stability
IL an imperative condition Of sound
money. No government no human con.
triyanco or act OF legislation has ever
boon abloto hold tho two metals together
IA free coinage ut "A ratio appfooiAbly df-
ioront from that which " established In
he markets Of tho world.
Those who believe that uu~ in dependent
iree coinage Of silver % an artificial
ratio OF 10 To /, would restore The rarity
between tho metals, and consequently
between the coins, oppose an unsuppOH.
cd aud Improbable theory 10 tho general
belief aud practices OF other nations and
TO tho teaching Of the wisost sia 0smsn
and economists OF tho world, both 10 tho
past and the present, aud what Is far
more conclusive, they run counter 10
our own actual experiences. Twice In
Dur earlier history our Lawmakers Ia
At ompting 10 establish bi.meiallic cur
roncy undertook FREQ coinage up1nA
alto which accidentally varied FROM tho
actual relative values Of The TWO metals
not more than three per cont To- both
asses, Notwithstanding greater dlilcu.'
los and cost OF transportation than nov
iNisl, the coins whose intrinsic worth
vas undsryalusd IN the ratio gradually
'ud surely disappeared rom Uur cir
'ulatlon aud went 10 other countries
where their roal value was better Iecog'
llzed. Acis Of Congress WeTo lmpo,eui
o create equality who're natural causes
iecresi even a slight inequality. IWlee
n our recent history We have slgnaly
allied to raise by logislai ion tho value
4 silver. Under an act Of Congress
assod iu lsIs the government was re-
uirud for more than Twelve years 20
4 end annually a. loast s-iOU,lIl IN
he purchase o. silver bullion for c0irage
ho 40. Of July li, 1890, IN a still bDidvf
bort, increased lAO amount OF silver Tue
government was compelled 10 pufchai'
nd forced II TO become tho buyer un'
ually OF 6i,0O0,OO0 ounces or practically
no entire product of our minos. Under
9th laws silver rapidly and steadily de-
lined In value. Tue prophecy and inc
( pressed hope aud expectation OF Ihoso
/ Congress who led IN the passage OF
10 last mentioned act, that II would re-
itablish and maintain tho former party
stwCen the two metals, are still ftbsh ~
lr memory. In the light OF these eAl'
N onces which accord with tho e1peH.
iCos OF other nations, there II certainty
, secure ground for the belief lhal IN
L Of Congress could now bridge an IN
Iualily OF 80 por cent between gold aud
Ivor ut our present ratio, nor Is lhere
o least possibility that our county
hich has less Than one-seveuth OF 700
Ivar money In the world, could ny W.
ton alone raise not only our own Dul
silver to It's lost ratio with gold our
Tempt TO accomplish this by mo lIeo
image OF silver at Tnu0 diueHui
doly from actual relative values woulu
the signal for the complete ue'
rture OF gold from our clfcu-
ion, tho Immediate aud ihiso
nlrnction OF our circulating medium,
d n shrinkago in tho real value ahI
efficiency OF all other forms
as they settled TO the level OIL
yor monometallsm, Every one VIM
,eiyos liked salary and every Wof92L
wages would lind the dollar ~ MS
nd ruthlessly scaled down to point on
I disapl ointment, II not to pinchlna
va In. r.
/ change in our standard TO s'l's