The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1896-07-16
RATIOS OF PRODUCTION AND
COINAGE.

The advocates of free coinage
of silver at 16 to I, attribute the
fall in the value of silver to the
act of congress passed in 1873,
which discontinued the coinage
of the silver dollar. They fail
to put the decline upon the true
grounds of demand and supply
where it properly belongs.
The ratio OF the worlds pro-
duction of silver to gold in 1851,
was $50 of silver to I of gold.
Ir 1873 the ratio was 1861 of
silver to I of gold. The ratio
continued to increase each year,
until in 1890 the ratio was 2I.o3
of silver to I of gold. From
1890 to 1895 the production of
silver slightly decreased and gold
increased, until in 1895 the ratio
was 1877 to I.
All of the legal tender silver dol
lars which have been coined in
the Uuited States from 1898 to
1S77-a period of IS yoars-was
S,os1,23s, and of the subsidiary
silver coins S2,855, 223, and Of
the gold coin during that period
was coined 81, ,o1o, 600, 334. Dur
ing all the time from 1894 to 1873
the silver dollar above named had
not formed part of the circula-
ting medium of the country, from
the fact it was worth $1.oa and
therefore was worth more In bull
lion and being the more valuable
coin was secretly withdrawn from
circulation as is always the case
with the coin of the greater rela-
tive value. This fact refutes the
idea that the act of 1873 was
secretly passed with the design
of injuring or benehtting any
particular class of people or any
particular person. Up to that
time the silver dollar had been
| worth more than 100 cents, and
had been hidden away and there
fore was useless as a circulating
medium. For this reason alone
it was considered wise to discon-
tinue its coinage.
From 1873 to 1896, a period
of Is years, there was coined
$42o, 28o, 916 of silver dollars,
land these dollars are full legal
tender for any amount, and of
subsidiary silver coins, $38,371,-
34o, and of gold $8o1, $40, III.
In the IS years above named
there was 126 times as many dol
lars in gold coined as there was
in silver legal tender dollars,
while in the last Is years, there
were not twice as many dollars in
gold coined as there were of the
legal tender silver dollars.
Figures will not lie, but they
will show the utter fallacy of the
wilder advocates of free and un.
limited coinage of silver. Every
laboring and business man in this
broad country should make a
personal examination before cast
ing his lot with the financial
scheme of 16 to I. The popu-
lists proposition as endorsed by
the recent so-called democratic
convention will not bear careful
examination and comparison for
fifteen minutes, without showing
the utter error in the statements
made by the advocates of the
populist's financial theory. The
Injury the operation of this sys.
tenn would entail upon the indus
trial classes of society will be
readily comprehended by the rea.
soning, unbiased student of these
matters.
| This would be an excellent
scheme for the mine owner, fol
the average politician-many oi
whom are paid by the silver mine
owners-and for the speculate,
who lives off of the industrial
people. We should be careful o.
gaudy propositions that promise
to secure for us the benefits oi
the New Jerusalem as we'll as o.
the earth, through the simple
l1neans of legislation.
] Carl Albrecht, the wife murder
ier, was hanged at Marshfield, Ore