The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1896-08-21
WHAT SIXTEEN TO ONE MEANS.
Ana. B. c. Explanation of the Pro.
posed Free Coinage of Silver.

An ~ -. Y. ExpInnatlon OF tHe Fro'
posed Free Coinage of Silver.
A speseh Delivered IN ths Grand opers
Heuss, wheeling, w. Va, Juns21, 1890.
~ Charles Bardstt Hart, Editor OF
Wheeling Daily Inteilie,nosri
N. CAatraas, Ladi1 ard oen1fp,ea:
Thirty.dve years ago tho country
turned 20 the Republican party to saye
II from the disaster OF dtsunion. The
Republican party, new to the business
OF government. accepted the solemn
trust and discharged well that sacred
duty. Every sane person rcjoices to-
day that the conflict Of that day result
Cd an II did, Now the country turns
again 70 the Republican party TO save Il
from the disaster OF unsound money and
tinsound tariff The Republican party.
now experienced in the bueinees OF ad-
ministAring tho Affairs of the govern
rnent on business principles, accepts
this solemn trust and will discharge
with fidelity and succcss this sacred
duty; and even free silver Democrats
viii rejoice 10 know that they are to
keep on getting o hundred cents every
time q dollar u due them.
Political conditions have changed IN
this country. There II no longer solid
south; but there is solid, sound BUSH
uess sense that cannot longer be de-
ceived and will not be trfned with. The
men who would debase the currency
and disturb public and private credit
eoncede this business sense 10 tne
that It does not exist In the workshop.
in the mine, on tho farm by misstate-
ment OF facts, by twisting the philoso-
ply of history. by Juggling statistics. by
drawing false conclusions from an undl-
kested and indigestible mass OF gro
tesque absurditles. they seek to make
the people believe that at last they have
found great deal OF nothing out OF
which very much of something OF great
value may DO made. They profess to
know how to extract sunshine out OF
cucumhers without cost. and ms they &C
along lay up treasure out OF the by-pro-
duct. They offer a stone labelled bread.
but the American masses arc aroused
and will pelt them 10 death with their
bogus bread.
What Does IL Meant
What is this new peril that menaces
the country? There 10 loud clamor
for the free. unlimited and Independent
coinage of silver dollars at ratio OF is
10 /. What does this mean? MANY
fairly Informed persons do not know.
The thing has been rushed to the front
IN the hope OF catching the people nap
ping. The better It Is understood the
less favor II viii ind.
First. let US see what free coinage
docs not mean. It docs not mean. as
some think, that the government is ia
give away silver dollars. II does not
mean that the government Ii to be COM
PEELED to coin sixteen silver dollars as
often az Il coins one gold dollar. It
does not mean that for every gold dol
lar man has he can get sixteen silver
dollars. The other day n man went
- A1V. To
Bile sum OF silver and paper money and
asked to have II exchanged for gold.
The cashier give him the gold and then
asked what he wanted with II He re-
piled that we are going to have free
coinage of silver MT 16 to /. and then he
would get sixteen silver dollars for ev-
cry gold dollar he had. Meanwhile. to
lay them away In gold. Senator Teller
will grieve when he hears of this. There
are other views M erroneous, but these
will scrve to illustrate.
The free and unlimited coinage of
standard silver dollars means that who
ever has the amount of standard silver
that goes into silver dollar may send
II to the United Suites mint and have
It coined into dollar and handed over
to him free of charge. II the owner of
that dollar wishes to make a purchase
the seller must accept the silver dollar,
no matter whnt may be the market
value of the silver in It. II he owes a
debt the creditor must accept the num-
Der of these silver dollars represented
by the debt. II he tenders-offers-the
silver dollars the law is to compel their
acceptance. That In what Is meant by
the free coinage OF full legal tender
dollars.
The Ratio.
We come now to the ratio. There
are 4i21h grains OF standard silver In n
silver dollar. There are 25.S grains of
standard gold In u gold dollar. There
IL sixteen times th0.yeight OF silver In n
silver dollar that There is OF gold in n
gold dollar. This ratio was fixed by law
10 correspond with tho relative CONNER
cial value of the two metals. at n time
when sixteen ounces of silver would buy
anywhere an ounce of gold. The law
did not create the ratio; II merely recog-
niLed II. The present demand IL that
the government shall declare that six
teen ounces of silver are worth oneounce
OF gold. For sixteen ounces of silver to
be worth one ounce OF gold. silver
should bring in the market 1923 per
ounce. 1t brings a faction less than So
cents an ounce, which IL 10 cents an
ounce higher than 1t was year before
last. The true ratio to-day is about
81 10 ! instead OF 10 to /. That
50 W HaSs Sou WEI W puy
uncolned gold with uncoincd sill
yer you must give n ounces OF sill
yer for every ounce of gold Nowhere
on earth can you buy your ounce OF gold
with fewer ounces of silver You cam
not buy II in n silver country any more
than you can In a gold country.
CoininR Does Not Make Value.
Trade puts its relative estimate on
each metal, and no act OF Congress car
asH hot
as easily change the seasons or dam the
Atlantic from Sandy Hook To Queens.
town. And this suggests the funda.
mental MISREPRESENTATION that any gov.
ernment can add value 10 metal by
coming IT. The mint stamp merely
says that the coin Is OF u certain weight
and Is 20 many parts fine. II is q nert
contrivancc for the convenience. of ex.
change. Formerly the money metals
went by weiEht-so many grains. Ounces
or pounds were weighed OUT for 80 many
horses. cattle or sheep, FOR so many
yards. bushels or barrels. Nobody sup.
poses that anything Is added 10 m,
value OF the gold in a gold dollar by
passing through the mint the % S grain,
OF standard gold that coinposc IL. s
. Misunderstanding has arisen about IN,
silver dollar because 1t Is known that Il
does not contain a dollars worth q. Sii.
yer and yet passes current In this cuun.
try-not elSewhcre--for q dollar. TIL,
silver dollar does pass current for n dol.
lar because the law limits the extent o,
It's coinage; because II is coined ON gov,
ernmcnt account and Paid ont On goy
crnmcnt account as hundrcd-cont dol
lar: because the government under
takes TO keep 1t Up to the gold dollar a n,
does keep II up. although the task is no
an easy one.
What ti,hr 3Tine Owner. Want and Why
The free silver men are not fatisde,
with this way OF doing It. II there h,
any profit in coininP silver they wan
the DrOfif Tho, v,.,t a, -. :,