The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-02-14

s~''eV'vv"."". so that the ratio OF IL Il
very nearly agrees with the agrre
d gates OF the two metals in the form o
. coin
, Lastly. comes the annual product o
the mines The relative production O.
the TWO metals has ALWAYS iiuctnated
greatly In the early part OF ,he cen.
tnry y was BY value rsore than 3 OF ill
Yer 70 OF gold. BcfNeen lS5a ana 1855
the proportions were roap,ately re-
NeFsed and the gold product Was more
IMAM three times A. great rs the silver.
sui the fluctuations in relative value
~ffe very slight. During tie whole 20
years that The French mint remained
open ne ratio OF The bn'lica never fell
= q" - Is and never rose a. high as
~. NA.le the coins rialr' mel parity
~ 'heir purchasing and Gr5t-paying
power ar an times.
Prom this Il will b. seen that while
Diinttaiiic coinage Il IN operation
throughout large and important coan-
IT'S variations in the annual production
are comparatively trivial in their ef-
ieeis upon the value Of the two metals.
This Is because the annual product is
~ small by comparison with the arcum-
uiated stock Of coin Al tho present rate
o. production II would tase TWENTY-FIVE
or thirty years for the output o. the
mines TO equal the mass ~ rolne.- silver
ana me same Is TRUE vi gold. Three
hundred millions Of dollars coming
rom the mines in year seems like a
lsr se sum and standing ly ITSELF II Is
But when one-fourth or one ,hird is
used IN The arts. the remainder thrown
mo an aggregar+ mas Of eight thous-
ind millions has but little effect upon
ne general level II Is like throwing
'Gp OF wafer into a bucket nearly fill.
Therefore IL Is this enormous BODY OF
DIN. the accumulation OF yes. 10 which
'e should look in determining the
alto 10 be adopted upon The resanD- :
lon OF bimetal.ic coinage in the United :
ta1es. This. as shoNn. represents very
early the proportions OF H. tol. s.
IL We should adopt the ratio OF say
70 |. IT would be- giving to silver =
aiue OF about $2-5s an ounce at our "a
INIT Gold would be worth twice as 70
ucn In European as in American coin n
&c Consequently none or ID would be ~
'ined IN this country and that already bt
the form OF coin would De exported. q
: a result there would be nothing bur 70
lyer used here and this vouls no NJ;
med az rate entirely out OF har 10
ony With the coinage OF any other cG
untry. an
Besides the ratio OF ! TO | would 10 a de
ave wrong 10 the creditor class. The Oh
netallist has no desire TO cut the dol I'll.
OF 1873 in two ANA make the cred ;hs
r take half OF il a dollar. He
rely wishes 10 restore the dollar as az
actually vas, thus iepriving the The
ditor class OF an unrighteous adj va.
1tase. and giving the debtor an eoual r.
ince
IN the other hand. it would be both
wise and unjust TO raise the ratio
~. "a or 80. In the first place. 10
rease the weight OF the dollar would -
uce the number of dollars. and thus
e the value of each one that Was f.av
he'd. increasing the burden OF isav
tors. he
ext. IL would throw our coinage On, mi
.ccord with the money OF other ma
Is Just as completely az would the IA
o OF 10 l. or any other low ratio ,l;y
u TO put %. 80. Is. or 100 Der han
more silver into our coin than "
any other nation. would BE abou, fsety
sensible as the Chinaman's exna.
= OF hanging stone at one end +
is pole 10 balance the load al the ID
r.
II the fatal objection 10 IL is that -
market price OF silver bullion as n 4
ere commodity. is not a fair meas
OF its value for coinage purposes ska1
Most bigotef monometallist win
u that pound OF steel in the bar
I worth anywhere near a. much az. VI
same steel wrought into screws
he will insist sfrenuously tina.
OF crude silver bullion which
OF be coined. i worth Just as much
would be after being fashionea
money and endowed with new and
rtant functions.
should be plain to anyone who has
ounce Of gray matter in his s.
that throwing open our mint to M
T will very greatly enhance its -
!. Therefore. to adopt a coinage -
in accordance with the present
et price. would be absurd. The
! of 20 and "a have no basis upon
TO rest-neither market price nor
lg rate anywhere. -
ken all in all. the ratio OF rs to /
; about as near meeting the re-
ments OF the situation in all its III
$ as any that can be suggested. -
or that reason bimetallists in this
ry have planted themselves sol 81
D it's favor. -