The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-09-19

at this time afford TO ally itself TO the
free and unlimited coinage of silver at
the ratio of sixteen to one?
We will pause long enough TO pay our
compliments TO the thoroughly mil
dewed chestnut" which. for the lack
of more demagogic name, is called the
CRIME OF 1873"
Sixteen to one advocates never tire
(themselves) i'm telling about the 'crime
Of 1879" and how IL sentenced the dol
lar of Our Daddies" into hopeless
exile.
IL requires vast amount of assurance
to peddlc such wormy trash, when the
fact Is well known that for nearly 40
years prior TO the so-called ''crime of
1873" not a single silver dollar was Wis
ible to the naked eye.
Crime indeed The infamous crime
OF killing a ghost.
We shall deny ourselves the opportun-
ity and save our readers the punishment
of reviewing at this time the financial
history OF the world since the morn
ing stars held their first jubilee.
We shall also refrain from pillaging
your time and patience by exhaustive
and eXhausting details Of the financial
legislation of the United States since
the dawn of its history.
We desire, however, TO call atteh-
tion to two propositions coming from
high authority, which have both stood
the test OF experience, and which have
never been successfully controverted.
First. In 1853, Thomas Gresham. one
of Queen Elizabeth's counselors, dem
onstrated that money OF lesser value
will always drive money OF greater
value from circulation. That they can
not, and will not, circulate side by side
under such circumstances.
In monetary science this is known as
"Gresham's Law"
IL won't do TO call this "Gresham's
Guess" 1t is Gresham's Law, and is ms
certain as the law OF gravitation.
Second. In 17l7, the man who discov-
cred the law of gravitation, Sir Isaac
Newton also discovered, certainly dem
onstrated that the only way to dodge
the evil consequences of "Gresham's
law" was by making the relative value
of gold and silver the same i'm all coun-
tries.
This idea is responsible for the In
ternational Monetary Congresses OF
more recent years.
While economic writer's may differ
as TO which metal is preferable as a
standard, yet the uniform voice of his
tory tells us that when single coup-
tries have attempted to establish and
maintain a fixed relation of value be-
tween gold and silver they have failed
and that, too, without exception.
There Is an endless variety OF misun-
derstanding concerning sixteen 10
one"
A deluded mortal came one day
slapped me Familiarity on the shoulder
expectorated eXtravagantly from his
nicotine factory, and remarked with
emphasis, and an oath:
These are tuff times, me boy"
We agreed with the assertion, and re-
Piled
"Terrible!"
Then he continued. this time assault
ing the table with his fists.
we must have sixteen TO one; thatll
fix us ALL"
We ventured TO ask:
"Why-what relief will that afford %
This time he pounded the table until
II quiyered as If il had been struck by
"A tornado. glared with cross between
contempt and pity in his watery eyes,
and broke loose, like a November storm
on Windy lake:
"Why, any blamed idiot ought ter
know that sixteen TO one means sixteen
dollars To every one. Wall, betwixt my
self, and the old woman, and seven kids,
Wen git over S140-eh?"
"Thatll keep the hull kit of us in
taters and terbacker until spring, with
n little corn juice on the side) and not
n dunn thing TO do.
CONTINUED ON PAGE Two1