The Dakota chief. (Gann Valley, Buffalo County, S.D.) 18??-1913, 1896-08-27
BRYAN On THE RATIO.
He Sang a Different Song on the
Subject When He WaS in
CONGRESS-.

On the 16th Of August. 1893. on the
floor of the House of Representatives.
Mr.. Byran said:
In fixing the ratio we should select that
one which will secure the greatest adj
vantage to the public and cause the least
injustice. The present ratio. in my judg-
mcnt. should be adopted. \ change in
the ratio could he made (as in 1890 by
reducing the size of the gold dollar, or
by increasing the size of the silver dol
lar, or by making Il change in the weight
of both dollars. y larger silver dollar
would help the creditor. A smaller gold
dollar would help the debtor. 1t is not
Just to do either. but if a change must
be made, the benefit should be given to
the debtor rather than the creditor. Let
no one accuse me of defending the just
ness of n change: but | repeat it, if
we are given a choice between Il change
which will aid the debtor by reducing
the size of his debt and Il change which
will aid the creditor by increasing the
amount which he is to receive, either by
increasing the number of his dollars or
their size. the advantage must be given
to the debtor"
Legislation in favor of debtors or of
creditors. as a class. would be class leg
~iSlation and wholly unjustiiable. CUES
tons between debtors and creditors are
properly settled in the courts: and every
curt will hold that what is right for the
ne Is right for the other also. Mr.. Bry-
IN. therefore, did we'll to disclaim adj
Nocacy Of any change of the existing
rltlo. Should 4 change be made Mt any
time hereafter it cannot and ought not
to affect contracts antedating such
change.
But in advocating the unlimited coin
age of silver bullion. at the present ratio,
for the owner and without cost to him,
Mr. BRYAN docs nropncn II cbonrc of tho
entire basis upon which business is trans
acted. We are Informed by him that
there are three ways by which the ratio
between gold and silver coin can he al
tered. 1. The shrinkage in size of the
gold doll@-. ,. The enlargement of the
silver dollar. 3. Making q change in the
size and weight of both dollars. Either
of these three methods contcmplateS Il
nearer approximation of the coinage ra-
ito to the commercial ratio and is so far
forth honest. If this approximation of
the two ratios rrere carried to the point
of idcality, the change suggested by him
would he absolutely honest-provided
that it is not retroactive in its application
to outstanding debts.
This is not. however. the change which
would follow the adoption of free coin
age at 16 to l.. There is still another
possible change to which Mr.. Bryan
made no reference in his speech. namely,
the shrinkage of the silver dollar. \
silver dollar containing 311H grains Of
| pure silver. worth .3 cents in gold. which
nevertheless passes current for 100 cents
in gold. is IN anomaly in finance. unless
explained. The explanation is simple
Fifty-threc cents of the current value of
| this dollar is visible: "a cents of its value
is invisible. and consists in credit. Free
and unlimited coinage would destroy this
credit. In advocating free coinage NJ
lG to |. therefore. Mr.. i.ryan r"poScS t,
make tn" silver dollar smaIlcr-uot To- tn
eye. lit i'm fact.