Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1896-09-24
M5nnesot, 1ursday Se1enb g1h 1896

! Hamilton, adopted, and this ratio was
] obtained by ascertaining the relative
market price Of gold and
silver throughout the world. In fix
ing the ratio, however, gold had be-
come undervalued, and hence was
worth more as bullion than as coin.
! It therefore did not enter the money
circulation. Silver became the meas
ure and standard Of value. In 1884.
Congress made an attempt to correct
the error and changed the ratio to Is
tol. This ratio, however, slightly
undervalued gold, and silver was
worth trit1e more as bullion than as
coin. AS result of this we lost our
silver, and gold returned to circula-
ton and became the standard and
measure Of value, which it has contin-
ued to be to this day, with the excep-
ton of a short period during and after
the war, when we were on paper
basis. Owing to this change in the
ratio, our silver money, including sub
sidiary silver coin, disappeared, and
people began to complain of the
scarcity of small change. In 1853
Congress therefore made fractional
coins, as half dollars, quarters and
dimes, light weight on purpose to pre-
vent their being exported or going in
to the melting pot. We have seen
therefore that a slight change of only
a few cents in the market value of
gold and silver from the ratio fixed by
law will drive one Of these metals out
OF the monetary service.
IS to Result No Gold.
IS to I-Resnlt No Silpvr.
This is history and not theory, fact
and not fiction. Now, then, when we
were unable to keep both metals in
circulation when the difference be-
tween the legal and market ratio was
but q few cents, how much more i'm
Ipassible will itsnot bet force q con-.
current circulation when the differ.
ence is many times greater. In the
face of our own experience and the
experience of other nations, shall we
make another attempt to accomplish
the impossible7 The effort to tie the
two metals together by Legislative en-
actment is unnatural, unscientific and
impractical, and the theory has been
discarded by all the leading CONNER
cial nations. The only way found
thus far by which both metals will
circulate together is to make one met
al the standard and measure the 9th
er with that. England adopted the
gold standard in 1916, Germany in
1871, followed shortly after by Nor
way, Sweden, Denmark, France and
othef countries. The fact that gold
was and had been the standard in
this country since 1884, except the
years when we were on paper basis,
was recognized by our coinage laws of
1873, which silver advocates refer to
as the "crime of 49," and no provi-
sion was made for the coinage of the
silver dollar for the reason that none
were being brought to the mint for
coinage. All gold standard countries
use large quantities of silver as mon
ey, but the silver is bought and coin
ed on government account. That is
the only way thus far discovered by
which the two metals will circulate in
the same currency. Under that sys-
tenn we have increased our silver coin
age manifold. It would be folly in
deed for the people Of this country to
seek to re-introduce that relic from a
barbaric age, the idea that legislation
can fix the relative value of silver and
gold, theory that our own expert,
ence and that Of other nations have
proven to be false and impractical,
and that has been discarded by all
the leading enlightened commercial
countries of the world.
In 1872 we had no silver III circu-
lation. July 1st, 1895 we had $685.
652,673 in silver and paper based on
silver in circulation. In 1872 we had
73S, 300 $40 dollars in circulation