Mexico weekly ledger. (Mexico, Mo.) 1855-1956, 1896-07-16
Highest of all in Leasenng pOwerLaes s Gov. Report
RH!a!a!!! g! Rs&dssF RRakiRs
ABSOLUTELY PURE
I6 to l.

We had supposed that the meaning
of ''i6 to i,n as the term Is used In
discussing the coinage question, was
understood by all readers of the daily
newspapers, but it appears that this
assumption was unwarranted. An in
telligent correspondent of the Post as
sures us that there are great differ
ences of opinion among the people as
to the meaning of the phrase, and asks
for clear statement of it. Since our
correspondents request was received
we have seen mentions of similar
lack of information in various parts OF
the country.
The Springfield Republican has pub
lished letter from a correspondent
who has made it his business to coll
lect opinions on this subject In man
ufacturing city in New England. He
says he found one man of large busi-
ness interests who said that the term
le to 1 meant that it took le silver
dollars to equal the value of l gold
dollar. The correspondent reports
having found n number of bank off,
cials who were all at sea on the sub
ject. The Republican, finds a man OF
good business standing in the excep-
tionally intelligent city of Springfield
who thinks 1t means that the gold dol
lar is worth as much as 10 silver dol
lars. The New York Evening Post
learns that in North Carolina the opin.
ion prevails among the eolored mon
that it means that white men ought to
have 16 dollars where the coiored men
have dollar. For this reason they
are naturally and strenuously opposed
to it. The advertiser, of Tuscaloosa,
Ala, knows of man who is in favor
OF free coinage because IL would give
per capita circulation of $50, and an
his family consists of six members that
would give them $500 in cash.
These are fair average samples OF
numerous list of opinions which would
be amusing If there we're anything
funny in ignorance upon a very grave
question.
To comply with our correspondents
request it is simply necessary to state
that 16 to 1 means that the pure silver
in the standard dollar weighs about
sixteen times as much as the pure gold
in gold dollar. The exact weights
are 1922 grains of gold and 37l.25
grains of silver. When the United
States Mint was established the ratio
of ID to was agreed upon, because n
pound of gold was found to be worth
| about fifteen pounds OF silver. There
was then free and unlimited coinage
of both metals. 1t was subsequently
found that this ratio was wrong In that
1T gave too high a value to silver.
Then Congress changed the ratio from
10 to to t6 to /, and in doing SO made
mistake in the other direction. The
European nations of the Latin Union
had fixed their coming ratio at 1876 to
l. Consequently the owners of silver
in the United States would not ex-
change sixteen ounces OF il for one
ounce of gold. They could do better
in Europe. They ceased TO send sill
yer to the mints and the dollars that
had been coined at 16 TO were hoard
ed. Prior to 1873, when the coinage
laws were revised and the provision
for the free coinage of silver was
dropped, only eight millions Of them
had been coined from the formation
of the Union under the Constitution.
We have now, under the Bland-A,li-
son act, about 10000, 900 silver dol
lars, to which add the notes issued un-
der the Sherman act, and we have
more than $500, ,00o, 600 in silver, all on
the ratio of f6 to /.