Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1896-08-28

should be made. If one ounce of
gold was worth the same as Is
ounces ofsilyer, then certainlya coin
made Of one ounc. Of gold would
be W orth the same as a coin made
of Is ounces Of silver. This plan
was all right, if the supply Of aud
demand for both metals would he
such that their comparative value
would continue so that one ounce
of gold would b. worth the same as
|15 ounces of silver. Many nations
tried this for years, but the in
variable experience ofevery nation
and of all mankind has been that
gold and silver has not long re.
rIImained at any : fixed ratio. A
slight variation would make. one
|coin worth more than the other.
The coin that was worth the most
would not be paid out as money,
as it was worth more as metal than
the minis called 1t worth-com.
pared with the other coin. "
5 The number Of grains Of silver
it took to buy grain. of gold varied
from time to time, as did the
number of grains of gold or silver
that it took to buy any other
commodity or labor. The law of
supply and demand affected the
relative value between gold and
silver, as it did between other
commodities.
= When the difference between
the coinage ratio and bullion ratio
continued in one direction for
some time the nation would change
the coinage ratio to conform to
the bullion ratio, as was done by
the United States in 1884. Such
efforts to adjust the ratio served
only temporarily, as another differ
ence in the bullion ratio would
soon take place. The efforts to
maintain a coinage ratio that
would continue practical thus
failed. and the nations one after
the other discontinued it. The
nations that preferred the gold
standard made gold the standard
of value, continued to s.have free
coinage of gold, and limited coin
age of silver, using silver as sub.
sidiary money, and coming only
such as the business of the country
demanded and not more than
could be maintained at parity with
gdd. -.
The countries that preferred the
silver standard continued the free
coinage of both metals on the old
ratio Of Is or Is to /, and silver
continued to be coined free and
circulate, and was the standard
money.
The United States preferred the
gold standard, and used large
amounts Of silver as money, but
coined it in limited amount. on
government account, and on the
old ratio of Is to 1.
At this time the bullion value
of silver and gold is about 81 to 1,
and changing hourly, daily and
monthly. Yet the free silverites
now ask that this nation have free
coinage of silver and gold at the
coin value Of Is to 1.
It is the most preposterous and
unreasonable proposition ever SUBJ
mitted to nation. It cannot
meet the approval of the calm
thought and mature Judgment of
the American people.
It's effect. in brief terms, is to
pass from the gold to the silver
standard.
It's effect in general will be the
decentralization of all lines Of bust.
ness, a disturbance of all values as
measured by the money standard,
withdrawal of credit, a shatter1ng
of all bus mess confidence, and an
impairment Of the values Of all
contracts.
The demand fol it's adoption
comes
FIRST, from the owners Of the
great silver mines of the West,