The Wadsworth dispatch. [volume] (Wadsworth, Nev.) 1892-1899, 1896-07-22
BOTH SIDES.
What Sixteen TO One Means.

The Silver Knight, favoring silver, !
says:
Sixteen to one means that there is |
sixteen times as much weight of silver
in silver dollar as there is gold in
gold dollar, or sixteen pounds, troy
weight, of silver is equal to one pound,
troy, of gold, for the purpose of coinage.
This is according to Benton's law OF 1887
which Jackson signed.
There are many reasons for adhering
to this ratio. There is in the world
about 151s to l6 times as much weight
of silver as there is of gold. This is the
result of mining in all ages, and it seems
to be natural ratio. But this is the
most important consideration in the
United States, BY the act OF June IA,
1870, under which the bonded debt OF
the United States was funded, that debt
was made payable in coin OF the then
standard value which consisted OF gold
dollars containing 25.S grains oil
standard gold or silver dollars contain
ing 4l21a grains of standard silver, and
this contract is printed on every bond
issued by the United States. If any
| variation was made in the ratio the
bondholders would complain of a breach
of contract, whatever they may say now,
and in the resumption of specie pay
ments the law authorized the redemp
tia, rf rraa, bo obs m aoi N q NJ; olao oIl
torized the use of the revenue OF the
Government for that purpose, and in
the case the revenue was insufficient it
authorized the sale of United States
bonds which were payable in either
standard silver or standard gold dollars.
1t will be seen that change OF the ratio
would be taken advantage of by our
gold friends to rise the cry of repudia-
ton. We do not want to discuss that
question. We are satisfied with the
standard ratio established by Jackson,
and according to which our contracts
are already made.
The Oakland Tribune, goidbug pa
per says:
1t simply means this, that if free
coinage of silver is adopted at the ratio
of 16 to l, that any person having silver
bullion can take it to the mint and have
it coined into silver dollars containing
4121a grams OF silver, worth now about
81 cents, and the stamp OF the Govern
ment makes it legal tender for 100 cents
that is, the ratio of silver in the silver
dollar. shall be l6 grains to each grain
of gold in the dollar. There are 480
grains to the ounce-412h grains there
fore lack 671h4 grains of being an ounce.
An ounce of silver-4I214 grains-is now
worth in the market about 6S cents
therefore, 480 grains would be worth 81
cents; the value OF the silver dollar ID
therefore of the value of only So cents.
This being the case, gold would immedi-
ately go out of circulation; for no per,
son having gold which has an intrinsic
value as bullion of 100 cents on the dol
lar, would exchange it for silver dollars
worth only 81 cents. The effect would
be that gold would go out of circulation
as money, and the country would come
down to silver basis, resulting in an
increase of prices for all the necessaries
and luxuries of life, nearly 100 per cent,
while labor as every one knows, would
not advance materially, and the wage
Garner would be paid off in silver money,
but be forced to pay nearly 100 per cent.
increase for everything he buys.
An American who had not made up
his mind ON the financial question visit
ed Mexico. He says
l have returned convinced Of one
thing, and that is that if free silver for
the United States will do for this country
what it has done for Mexico, then free
silver is what we need. Il found that
country enjoying the greatest CONNER
cial prosperity. Everybody is satisfied
with the financial status, business is
prosperous, the mills are all running on
full time, and the mark of good times
is manifest on all sides. 1t seems to me
that what is good for them would be
good for us.
81 was forcibly impressd with some
facts connected with the sitnation in
financial affairs of Mexico. Little things
show which way the wind is blowing,
and / want to show by practical illus
tration how matters stand. These prac-
teal facts count Tor more than theories.
Now, just ibefore leaving Atlanta