The evening bulletin. [volume] (Maysville, Ky.) 1887-1905, 1896-08-15
FACTS ABOUT SILVER.
The Public Ledger OF as Usual, and Badly
Mixed in Its Figures.
Clip This Ont as a Ready Reference -InfOr
nation For Voters.

When paper gives the people "facts" for their
Instruction and future reference and advises its
readers and disciples to cut them out and carry
them for ready reference, it should be careful to
give facts that may be verified, else the people
will lose confidence in the paper as teacher OF
the truth, and also faith in its cause
The Ledger was badly mixed in its Facts
About Silver" found in its issue OF August 9th
Under heading second - OF article, August 9th,
and paragraph three, the Ledger says that in
1884 the dollar of our daddies ceased to exist
and that the weight of the silver dollar was
changed to 4l21 grains, and then adds. This
altered the ratio to lG to l." it previously having
been Is to l.
In the first place, the change of the weight of
the silver dollar from 4l6 grains to 4l21$ grains
was not in 1884 as the Ledger states, but in 1887
For proof on this point refer you to Circular
No. 1913, L. S, Treasury Department Revised
Edition, p. 49,
In the second place this change did not make
the change in the ratio as the Ledger says. The
change in the ratio was made by the act of 1884,
by reducing the amount of gold in the gold dol
lar from 2i34 grains to % 22l0O grains / give as
proof OF this p. 10 and p. SO of the same circular
mentioned above. The amount of silver in the
standard silver dollar has never been changed
it was the amount of copper alloy that was
changed, less being put in. That did not change
its value. 1t was the same "daddie" dollar with
little less copper. 1t still had 37114 grains of
fine silver, the amount it always had and still
has, and never had any other amount. 1t was
the unit OF value the gold dollar being changed
to correspond to it.
In paragraph No. the Ledger says, Silver
then became more profitable to export than to
COIN" and in paragraph ii says, " Thus we went
to the single gold standard on which we have
been to the present time" Yet on pages As and
A. of referred circular you will find an average
of over two million (S2 100000 dollars of silver
year coined for the next twenty years, or over
$4,000 900 worth from 1884 to 1851 and its coinage
continued at about this rate up to 1878. This is
a very singular single gold standard, isn't it
In paragraph the Ledger says that the
whole amount of silver coined from the founda
ton of the Government to 1873 was about $780,
900. The Ledger means, l suppose, the whole
number OF sHier dollars coined was 100000, not
the whole amount OF silver, for the whole
amount OF silver was over SliS,000,00O worth
Under "fourth" i'll paragraph l, the Ledger says
the cause of diminution in the value of silver is
increased production owing chiefly to the i'm
proved methods of mining and better facilities OF
transportation. The Monetary Commission OF
the L. s says in its report to Congress that the
then recent fall in the price of silver was not
caused by any large production, but mainly by
the concurrent decentralization of silver in Germany,
the United States and the Scandinavian States,
and the closure of the minis of Europe to its
coinage, and the temporary diminuton of the
Asiatic demand. The same causes are still in
operation.
Under Fourth" in paragraph ., the Ledger
says only S295OOO of silver was offered for coinage
in 1873. Ii this is true, want to ask the Ledger
how the L. S. managed to coin according to re-
port (pI0 over 81 100000 worth of silver, not in
Guiding 81 ,225 900 of trade dollars in 1873.
In paragraphs 8, 4, s. and : the Ledger tries to
show that the commercial ratio and the quanti- |
tative or real ratio OF gold and silver has been
getting farther and farther from the coinage |
ratio, and that the real ratio and the commercial |
ratio about correspond. 1t is not correct to sin |
gle out few years and compare their produc
tions OF gold and silver to prove the true ratio.
You must consider the whole mass of bullion |
and coin available for money and if you will |
examine the total stock of gold money and total |
stock OF silver money p. 26 and % OF Treasury Re-
port and make the calculation you will find that
anime the per cent OF the worlds production of
gold and silver by weight since 1892 (p 80 and 3l)
you will see the cumulative or real ratio for the
world to be 10 to l and not 81 $1,000 to / as the
Ledger would have us believe. The real ratio of
the worlds production in 1895 was about II $40
tOl.
In paragraphs l, q 8, 4 and under fifth" the
Ledger tells what the effects of free coinage of
silver would be, but as we have seen that the
facts" previously referred to were off, you may
rest assured that the conclusions and predictions
resting on those "facts" will be farther off.
In paragraph l under fourth" the Ledger
says the reason a new demand for the free coin
age of silver by the T. s. has arisen is owing to its
value in relation to gold. Now l
would say that there is no new demand. There
have always been many who have worked for
the free coinage of silver since it was demonet-
lied in 1873. 1t is an old demand intensified, be-
cause the people have studied the question and
now realize the great wrong that was done in
1873 by the demonstration OF silver, thus de-
stroying one-haf Of our coin as redemption
money. SUBSCRIBER 1893.
Cut this ont and put in your pocket for future
reference.
MAN may dress as well as his own good judg-
mont and the of an tailor may |