Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1896-08-13

iing the benefits u bimetallism, olJecl
10 coiub &c Of the rfefent ratio. n ans
are deceived by tuis objection, they
ought 90 remember that there Hfu no
blmetnl.isis who are tatnost IN
enlotvliinE % secure o. 10 auy uthpt
ratio tuHb l6 TO 4. Wrnfe opposed tu
any change Of tue ratio for Two fni.
f1nt. Fift, because chuurn wuuI Id
produce great injusiict; ODD fcc1uI,
bcchuso n change 10 TIE ratio b. not
necessary. a change wcul produce
Injustice lCCauHU, N tiitC,td In TIE
manner usually suggested. 1t would
ietult w an enormous contraction Ia
the volume d stsndatd money. H.
TOT instance, 70 was decided by iattr.
national ngfuumuut to raise tn rltiI
throughout the world % 70 I, tho
change MT ht be- tiieciei ~ any one Uf
Three ways The silver dollar g uiI De
dUuuiCi IN Fl2o % that tho new oliver
dollar would weigh tbifiy-two times o.
much h8 the Present g0lu Goiiuii Or tho
Irttunt q 10 dollar could b. reduced
unu'hali in weight, 20 that the
rrsseut silver dollar would woign
lhiuy'tw1 times a. much DO
tho new roiI dollar or the
c1argu could be- made by Increasing
the Hite Oi Tue silver dollar ana 30.
cruuaing the ~ " the gold dollar uu.
81 tho new Hugur dollar vCuiu wtigh
thifiy'two t,mtH as much on tho ucW
gold JOilir. Thoar who have advised
change il the ratio nave utualiy sug.
gostCi that the silver dollar be- doubled.
10 tbs change were mado 10 would
ncCUisltatu tuu reclinngo u four OH.
Hons " silver u0llnfH into two billions
Of dollars either 10 individuals or 10
the g0vufnmuot, but this would bu tue
least VI the Injury. a ehfiuksgo Of
Iuu.hGii In tho silver money Uf the
world would mUaD n shfinkngu OF QUE.
fourth in The total volume OF metallic
money. THis contraction, by iugreta.
ing tue value Of the dollar, w0uiI viz.
tuniiy incfruto tho debts Oi the world
billions % dollars qua decrease htl.
mote thu value OF the property Of the
world ~ measured Ny dOilsfp. Brsidus
THE immediate result, such change
Ia tho ratio would permanently uO.
cfcnso tho annual addition % tho
woTld'a tuppiy Of money, because the
annual silver product when Clinud iu.
10 dollars ~ Zoe ne large would make
only halt an many dollars.
"lhu people Of the United States
would to Injured bya change ia tue
ratio, not because they produce silver,
bui borause they Ogn properly ln1
AMI eve dubis, nud they cannot nlsFi
10 thus Gecteato tho value " tntIf
pToptGty or iuciohae tno burden Of their
dVbtf.
CAHLisLE ~ 1875.
"in 1873 Nj. Carlisle said. 'Man.
Einu Will DO fortunate Indeed n tho nu.
uuni production Of gold anu silver cIin
shnli ECop plce with tue annual IA.
create 10 population and iniuttfy.'
"i toptht this assertion. Al Of thr
gold anu sl,yof annually available TOT
coinage, wucn convert Il Into com M
the present ratio Will not, iu my luIg.
meat, more thpn supply cur MONETARY
nUclt. supporting Tue nc. o. 1900
known rs tho Sherman oct, Senator
sherman on June on ui that year fnlu!
Under tue law NJ February, 1875, thu
Purchase Uf s. 900, 100 worth VI silver
bullion n month has ~ c0inagO ut8.
ducUd aunuslly VA average Of nearly
s2,OJn,UOJ month fUr period VI
twelve yuaru, bat tlls amount, IA Wow
VI the io.lfomuut Oi the bank Uoios
vii! not ingTtnta cur currency
ia proportion 10 our ingfcai-
ing population. ~ cur pftsi.
ont currency Ia cat mated ~ 400.
100000, ana our population n incTuas.
Ing ~ the ratio Of peiCBnt per Anuum,
u would require si2,UuU,uOU increased
circulation oacu ysar 10 keep pace
with the itotease VI population; bul
~ the incressu VI p3puiallon 1, aucon'
panied by q eth creator ratio u ~.
crease OF wealth anu business, Il was
Inougut tbpt immediate increase Oi
circulation might DO obtained by large
plTchRses OF silver bullion 10 M
amount sufficient 10 make good the
roiitemunt Oi bank notes aud keep gAcs
vita tho gtOwth Uf population. A..
iuming that $4,000, 900 a year u add.
lioual currency IL needed upon this
bAsir, that amount IL provided Tor in
this Dill by tho iHIue ~ treasury notes
Ia exchange Tor bulil0u Ut tho market
price,
"li the Uniioi Slatrs then needed
mere than $4,000, 900 annually 10 keep
pace with population anu buslntsH, II
now, with larger population, needs
still greater annual addition; ami the
United States IL Uuly one nation
among many, Our OrplnuntH mukp nU
adequate provision Tor tho inCfuEEiug
money needs Of the world.
ain tEs -eCond place, a change 10
the ratio n not necessary. Hostile
legislation has decreased the demand
Tor silver ana loworoi It, price when
meftursd Wy guld, while this came