Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-05-24

| and the teachings OF the great students
| OF monetary science from the time
| when John Locke wrote TO the discus,
sion OF the recent day, we accept tho
/ truth Of the principle now universally
I recognized and applied In the CONNER
| oial world, that the bi-metallic stand
| ard connot be maintained where the
| ratio fixed by law for the free coinage
] OF gold and silver does not correspond
/ with the market ratio OF the two met.
] ais; and that wherever and whenever
[ the legal or coinage ratio varies from
: the market or commercial ratio 10 any
/ improbable extent, the dollar whether
/ OF gold or Of silver which thereby be-
Z comes more valuable as bullion than ms
I money will go to a premium and re-
tire from circulation We saw this
nrinciple applied In cur own govern
I ment in our own national experience
[ when under the act OF liSy, which fixed
/ the free colnnge ratio az 10 to gold re-
tired from circulation because of n
slight decline in the price OF silver in
the omen market whereby the bullion
/ I'm n gold dollar became worth a few
/ cents more than the bullion In n silver
! dollar and was therefore sold as a COM
/ modify because II was worth more oB
i bullion than as money, and again un-
/ der the act of 1884 which fixed the ratio
/ at 10 to I, when the silver coin retired
| for n lite reason. We are therefore
/ onposed to the free, unlimited and in
I dependent coinage Of silver at the ratio
! Of 16 to ! when the market or CONNER
/ cinl Is more than 30 90 | and the diff
| ference between the bullion value of
! gold and silver Is about 90 cents on the
/ ground that such action instead of re-
storing the bl-mesilllc standard would
Inevitably result in silver mo1R-metal-
] ism.
the world which maintains the bl-ue-
/ talllc standard and neither is there any
country where free coinage of silver
obtains which Is not ON silver basis.
Each country On account OF it5 ina
bility to adopt Independently any pl-
metllic standard must elect for itself
which II prefers. the gold or the ailv ir
standard. We therefore favor, in the
absence Of intcrnnu nal cooperation,
the retention and maintenance OF the
existing gold standard, because II
change from the gold to the silver
standard would have the effect to re-
pudiatc all public and private obllsa-
lions to the extent OF the difference
between the bulls 81 value Of the gold
and silver dollari because whenever
ouch change should be seriously threat
eued 1t would cause an immediate col
lection and liquidation of all debts ,in
anticipation of the result 1t would
produce; because such change from the
gold to the silver basis would destroy
public and private confidence. an1
would Involve the country in such
manic. confusion mud dlstress that the
products Of agriculture and the wages
OF labor would be unremuneratlve; the
business OF commerce would become
Improbable and our people engaged In
Industrial occupations would be thrown
out of employment: because there IL
not a progressive. an enlightened
country in the world which has NOT
elected gold ns The preferable standard,
because gold standard countries retain
silver in their circulation an a narItv
with gold, whereas there is no silver
standard country which does or can
utilize gold az money; because there Ia
not silver country on the globe where
the wages of labor are sufficient to
sustain the working classes In COM
fort and Independence; and finally, be-
cause the high destiny OF the United
States demand for the use of the
American people that money which ex-
perlence has taught mankind to be
the best suited for the promotion of
commerce, the development OF manu-
factories, the encouragement of labor
and the advancement Of civilization.
4. We would rejoice over the adop-
tion OF bi-metalllsm, but In view
of the continued fluctuations in the
price OF sllNtT III tue open marker, We
realize that It Is impossible for the
United States Independently to adopt n
bl-metallic standard, and we deem 1t
unwise and hazardous to the best in
terests of It's people for their country
TO attempt Its establishment. We favor
the policy Of this country standing in
the attitude OF readiness at all times
TO cooperate with the other powers in
any EFFORT they may inaugurate look
ing to the adopting Of true bl-metal-
lslni put IN the meantime untll sue
cesslui cooperation Is insured TO main
IAN ihVlolate It's existing standard
Nalue;
D. we tavor the retention as part Of
money OF the SILVER now coined and in
order to give a wider ileld for the use
Oh SILVER ana SILVER certificates we IA
yor the coinage OF al gold below the
denomination OF SlU INTO higher de-
NOMINATIONS, 50 az 10 make our entire
stneuiatIuh peIoW the denomination OF
Wv either SILVER or silver certificates.
treasury should be authorized by law
10 com from time TO time as people
may require them silver dollars until
,he demand OF co.lmerce for money
pvlVW tue denomination OF $40 Is at
We wv , sutisn ~
~, y. we realize mat our national bank
l ~. sgs|elh was ADOPTED during time
VI WI, anu mat IL Is not adapted TO