The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-14

A Number OF Interesting and Import
ant Facts About silver.

n Number OF interesting and ImpoFfs
ant Facts About silver.
The Chicago Tsmes-Herzld prints tho
following. with the suggestion that It be
cut out and put IN the pocket for really
reference:
L Silver has always been measured by
gold.
. That by which something else IL meas
ared IL the standard OF value. The num-
Der OF ounces OF silver an ounce OF gold
would buy has always been the ratio.
q Like ali other values. the ratio OF sill
yer 10 gold has been controlled by supply
and demand.
L When this government was founded
the commercial or true ratio was believed
to be Is TO /
S AT that ratio silver was admitted free
and unlimited TO the mint. Geld dollar.
24x grains fine gold: Aa.xis equals s7IA
grains fine silver. the silver dollar Of the
daddses"
6. The intent and belief OF the "daddies''
was that 37iL grains OF pure silver would
buy as much OF anything as 34s. grains Of
gold would buy.
:. Or that Is ounces OF nne silver would
pay as much debt as one ounce Of gold
SECOND.
1. The ratio OF l5 TO /. fixed by law, re-
NAMED actually correct but a very short
time.
2 Owing TO admission OF foreign coins
which were inferior no American gold ~
silver coins circulated Coinage OF silver
dollars was suspended In lsA and was nos
resumed until 1s20. Then Loo were coined
s. In 1884 the dollar Of the daddiss"
ceased TO exist. The weight of the silv -
dollar was changed to 4l2ls grains. This
altered the ratio to Is TO L
H. L. a.
export than to coin.
5. Thus we went 10 the single gold STAN
dard. on which we have been down to the
present time.
8. Dropping the silver dollar legally from
coinage in 1878 was only making a mere
record of what had been actually true
from 1894 Silver declined to be coined
during that entire period except In small
quantities.
I. The whole amount OF silver coined
from the foundation OF the government to
1873 was about 100000. although its COIN
age was free and unlimited.
THIRD
!. From 1873 to July l. 1895. Under limited
silver coinage. we coined. in full legal ten
der silver dollars. $40, 81. sls at the ratio
OF IS 20 /.
q In the eishty-five years prior 10 1878
the whole amount Of silver coined by the
United States under free silver coinage
was $2s2 Sc. ss1
3 In the eighteen years from 1878 to 1896
the whole amount of silver coined under
limited coinage was SAT-. s27. 20.
4. More than SCI 000. 600 more of silver wis
coined in eighteen years OF limited coinage
than during the eighty-nvs years OF free
silver coinage.
s. All the silver dollars in our currency
are full legal tender at 10oscents each lex
cept for redemption of gold certificates.
which are not legal tender).
g. Subsidiary silver (half-dollars, quar-
ter-dollars and dimes are legal tender to
the amount of so in any one transaction.
Z. The total limited legal tender silver
coined IL SIN. $50. $3.50.
g. Total silver coined by the United
States down to July 1. 1895. t6s6. 464. $40.
FOURTH
l. The reason q new demand for free
coinage Of silver by the United States has
arisen Is. that owing to increased produe-
ton. caused chiefly by improved methods
OF mining and better facilities for trans
portation, the output of silver became so
large as to diminish Its value In relation
to gold.
O. Down TO 1873 silver was more profitable
to export than to coin. and that year only
Ses3 500 was offered for coinage In the Unit
cd States.
8. In 1856 the worlds production Of silvar
was 81 .4oo, 600 ounces; real ratio TO gold.
1888 to l.
4 In 1876 the worlds production Of silver
was 81, 75S, 900 ounces. or more than double.
Ratio 10 gold. i7.ss.
.. In 1sss the worlds production Of silver
was SO. s7s. 900 ounces. trebling that OF 1856.
Real ratio 10 gold, 20.7S.
g. In 1895 the worlds production OF silver
was i6s, 01o. 900 ounces, or more than nve
times what II was In 1856. Real ratio to
gold, 3i5s.
Z. That is TO say. an ounce OF gold 10
worth today nearly 80 ounces OF silver.
g. Yet owners OF uncoined silver want us
to accept 1t for free and unlimited coinage
at the proportion OF 1s ounces OF silver 10
1 ounce Of gold.
L The effect would be 10 food the coun-
try with silver dollars worth 50 TO 50 cents.
2 When the government was founded the
"daddies' believed and intended that fif-
teen ounces of silver would purchase as
much as one ounce of gold. or that fifteen
ounces of silver would discharge a debt
which one ounce of gold would discharge.
q Today one ounce OF gold will purchase
as much as thirty-two ounces OF silver. X
we coined silver at Is to I. therefore. we
would be forcing on ourselves a dollar OF
a purchasing power or debt-psying power
of only one-half the present dollar OF our
currency, all It's dollars being kept up to
value OF 100 cents each by the existing gold
standard.
4 Free coinage Of silver would put US on
the silver standard with China, Japan and
other countries in which labor IL In prac-
teal ssrfage. and civilization Is scarcely
begun.
8 There Is not IN the world today first
class nation that opens its minis 10 the