Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1896-08-13
culation il practically unlimited,
while the quantity of available sill

yer is restricted within narrow
bounds. So that under the opera
ton of the economic laws above
stated, the United States should be
able to maintain the value of silver
on the ratio of Is to l, ct par with
gold, not only at home. but in the
markets Of the world.
IL is well understood that Eng
land will be forced to restore full
coinage to India whenever our
minis are opened fer silver, and
there 10 every reason to believe that
Russia, France and perhaps Ger
many are ready to follow our lead.
This done, the question would be
settled beyond all peradventure.
The reason that the coinage ra-
ito, which has obtained for more
than century last past is 154 to l,
or 16 to l, is that the relative quaa-
titles of silver and gold existing to-
day in the world, the accumulation
of past ages, is approximately in
that proportion. The quantities
of tons or ounces of these precious
metals put into the bowels Of the
earth for mans use By the Creator,
so far as experience teaches, 10 in
that proportion. About 16 to 10.
therefore, the natural coinage ratio
the ration ordained by Nature it.
self.
When it is remembered that Eng
land attempted in 1916 to force the
rest Of the world to the gold stand
ard, and that France was able
nevertheless to maintain the parity
at 15t to /, as she did up to 1874,
it is not incredible that the United
States can do in 1896 what France
did, and continued to do for near
ly century.
Why can we not: An answer in
the negative must rest upon some
thing else than dogmatic assertion
or mere dire predictions of disaster
or chambers of Commerce Hor-
rors."
1t has been shown that our in
creasing population, productive
ness, business and wealth require
the balance of our currency to be
increased by at least 800, 900, 900
each year. We are now maintain
ing at par at ratio of 16 to I,
600, 900, 900 ofsilver while France,
with one-third of our population
and wealth, is so maintaining 7OO,-
600, 900 on q ratio of 154 to /.
Why can we not maintain next
year what France maintains today,
and thereafter in proportion to our
increase of wealth, business and
population ?
The difficulty apprehend is not
our want of ability to absorb the
surplus silver of the future output
of the mines, but whether the rest
of the world will permit us to have
what we need. Can we maintain
the par of exchange with free coin
age? The foregoing argument
tends to show that we can.
st. John, of New York, who has
given years of study to the subject
says we can. Men like Grenfell,
Frewen and Gibbs, from other parts
of the world, say we can. The
great Chicago Convention has an
swered by two-thirds vote in the
affirmative; and millions of COM
nonsense, conservative men
throughout the land say, Amen !!
The feeling is intense, growing,
spreading everywhere, that the
times are ripe for the change that
it is only needed to turn the wheel
to start the machinery. The new
French Prime Minister, NJ. Meline,
declares that what alone is now
wanted is the Electric Spark"
L. looks as if we are to have what
is wanted, if indeed the great Dem
ocratic Convention does not prove
to be that "spark."
w. b. FLEMING,
Elector-at-Large from Kentucky
and President of the College of
Electors at the time of Cleye.
lands first election in 1884.