Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1896-07-17

cold is coined withodt charge, sill
yer shall be- If gold is coined
without limit as to the amount, the
coinage Of SILVER shall be unlimited.
The free siIverites claim chat
both silver and gold are recognized
by the constitution as money met
ais. and that Congress has no right
to discriminate for Or against either
metal. Their parity should be |
maintained, which can only be |
by treating them alike.
What is meant by the ratio of Is
to [?
reliable statistics show that with |
slight variations, or oscillations,
the relative product of silver and
gold mines from year to year has
been Is pounds Of silver to lpopnd
of gold. This being the fact, cur
Constitution haying provided that
both should be money metals, Con-
gress fixed the ratio Of their coin
ace to correspond as near as posi-
he to the ratio Of their production.
Hence it is that the silver dollar
contains 37l4 grains Of pure silver,
and the gold dollar contains 23.2
grains of pure gold. The quantity
Of either silver or gold in a dollar is
purely arbitrary. Congress has
never undertaken to decide the in
herent value Of either a'silver or
gold dollar, but their representa-
tive or coinage value is 16 to l;
kThat is, 1G grains Of silver is equal
to 1 grain Of gold, or 16 pounds OF
silver is equal to l pound Of gold.
In the first coinage act the coinage
ratio was Is Of silver to 1 Of gold.
The French Or European ratio was
los to /. When our coinage law
was revised in 1884 Congress estab-
.FIshea Is to l as the ratio 1t is an
interesting and very significant
fact that the amount of silver in a
i, silver dollar was not changed, but
. 1.-The gold in the gold dollar was de-
Il creased until the ratio was 16 to l..
The amount of silver in silver
, dollar was scrupulously preserved,
e as that was the unit or measure OF
all other values, including gold it
self.
The reader will understand that
: the demand Of the silverites simply
f means that the coinage ratio Of the
|. metals, which has been long estab-
i, lished, shall be restored and main
tanned. They also demand that all
Il the gold and silver available shall
e be converted into money. The de-
4 mand for money is unlimited, anc
{, there is no danger Of. too mucf
y money. If the coinage is unllmlt
ed the bullion and coinage price
8 would always be the same: Ther'
= would be no quotations of marke
l. value. To restore free coinage it i
= only necessary to confer upon j
the same functions that gold en-
joys, Of which silver was deprlve(
n by the act of 1873. Make it lie
} Gal tender in the payment OF al
/ debts the same that gold now en-
q lows: make the standard silver dol
lar the INIT Of value, as it existeI
= prior to 1913, and repeal the law o
IL 1878 that made the gold dollar tn
le unit of value. The wisdom show
re by our fathers in making the rati
,e of coinage Is to l has been WOE
80 derfully demonstrated. The pre-
10 duction Of gold aud silver in ia
eS United States from 1872 to l0V
is inclusive has been:
s. Gold 81 500, 692,97t
~ Silver. -. =. 1,158,83l ,86'
- The ratio OF silver to gold as fixe
- by law in using them as measure
at Of values has never been more tina
at IS to !. The parity Of the tw
NJ metals Was easily H'teiA se'l'sOU
Of that ratio until silver was denied q,
cess to the mints. 1t is perfect
' fair to conclude that the part
would be restored by the repeal
ad the villanous act of 1873, and tt
n re-enactment Of the old law. .The'
facts ought to satisfy the clam'
IT, Of those who say that they want
nd dollar that is worth adollar:
,,e There is not to exceed Is times
No much silver as gold, and at th
IN ratio Of coinage viz, sixteen ounc
IS. Of silver to / ounce of gold there
as near as can be computed an equ
Ter quantity in value of the two meta
at. in the world.-Cincinnoth E
~ 9Njrer.
Id Exceedingly Thankful.