The state herald. (Holyoke, Logan County, Colo.) 1887-1921, 1895-07-19

the silver money In circulation in sill.
ver-standard countries. This will
doubtless re-establish the ratio Of 10
70 or l6h to 1, which Is practically
the establishment of the bimetallic
standard throughout the world, thus
making them one metal for monetary
purposes. Previous to 1873, when the
ratio between silver and gold, was con-
stant at about the legal ratio, fuctua-
ton was half point each side of 15h
to /.
IL necessary the United States can
Withdraw from its circulation the ma
tional bank notes and let silver certifi-
G. cafes take their place. anu can. In fact,
60 further y; w. Withdrawing vi. the
United States notes until such time as
they may be faissued and the ratio Of
IL to be undisturbed.
This additional use Of silver. conf
bined With the amount which takes
the place Of gold, would make the total
additional use of silver by the United
States about 81 900, 100000 or one-half
Of all the silver money outside the
goldstandard countries. The silver
In the gold-standard countries is mint
ed at 10 1-2 to 1, or 10 to l, and 10 will
not come to the United States with its
10 to law, unless gold-standard
country enactt law to give up its
silver, and this is not iike'y In the face
Of the bimetallic sentiment In all sold-
standard countries. besides, our law
can prohibit the importation direct or
ihssreco of silver from goldstandard
couhtI%SSs
1t is believed that when tho United
States makes the start 1t will not he
obliged to exert its full strength, for
1t will not be alone in securing re-
turn to blmetallism, for there are
several American countries which can
assist by enactlng bimetallic laws,
thereby throwing their gold into Euro
pean countries and SO helping to secure
the establishment of the 16 to l ratio.
Furthermore. before the United
States, II acting alone, should have
drawn to herself anywhere near the
amount OF silver above stated, the low,
cred prices for articles now exported
from silyer-standard countries would
result, as to many of them, In their
production being Improbable as COM
pared with their other productions; and
with n lesscned supply from the silver
using countries the price in gold-using
countries would rise above them as
compared with other commodities In
such countries. This applies to cotton.
wheat, corn, oats and other grains.
During the past years these products
have been unduly lowered In gold
standard countries through the fall in
the ratio between gold and silver; n
reversal of policy would for time give
them an advantage. As soon as the
prices OF articles of trade between gold
standard countries and silver-standard
countries become such that sixteen and
one-half ounces of silver will purchase
as much MS one ounce of gold then the
blmetallic standard is assured
Another important factor in the re-
establishment Of the ratio of lG to ! Is
the fact that in the countries wherein
the money power has not yet secured
the establishment of the gold standard
changes in price take place slowly
owing to the habits of the people and
the absence OF Information. This Will
result In silver coming out Of those
countries very slowly, ard thus the
a..
States not being quickly met will re-
suit in silver soon reaching an ex-
chapo,, value OF lG to 1.