Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1896-09-03

1.-THE argument that silver dollar
is heavier than q gold dollar and that
therefore silver is less convenient to
carry in large quantities ia complste-
ly answered by the silver certificate
which is as easily carried as the gold
certificate or any other kind Of paper
money. "''
ANY CHANGE OF RATES OPPOSED.
"There are some who, while admit
ting the benefits Of bimetsllism, OBJ
iect to coinage at the present ratio.
II any are deceived by this objection
they ought to remember that there
are no blmetallists who are earnest in
endeavoring to secure any other ratio
than 16 to /. We are opposed TO any
changes of the ratio for two reasons.
First, because q change would pro.
duce great injustice, and, second be-
cause a change in the ratio is not
necessary. as e
"A change would produce injustice
because, if effected in the manner No.
ually suggested, it would result in an
enormous contraction Of the volume
Of standard money. II, for instance,
it was decided by international agree
ment TO raise the ratio throughout the
world 10 80 to l the change might DO
effected in any one Of three ways:
The silver dollar could be doubled in
SIZE 80 that the new silver dollar
would weigh thirty.two times %
much as the present gold dollar, or
the present gold dollar could be re.
duced one-halt in weight 10 chat the
present silver dollar would weigh
thlrty.two times as much as the new
gold dollar, or the change could be
made by increasing the SIZE Of Che
silver dollar and decreasing the slge
of the gold dollar until the new silver
dollar would weigh thirty-two times
as much as the new gold dollar. II
WHAT A CHANGE WOULD MEAN.
"Those who have advised Q change
, in the ratio have usually suggested
that the silver dollar be doubled. II
I this change were made il would neC-
essitate the recoinsge Of 4 billions Of
: silver into 2 billions Of dollars. There
. would be an immediate loss Of 2 bill
l lions Of dollars either 10 individuals
> or to the government.
. "But this would be the least Of thI
4 injury. A shrinkage of one-half II
: the silver money OF the world wOul(
mean shrinksge Of One.fourth in thu
8 total volume of metallic money. Thil
n contraction, by increasing the vsluI
9 of the dollar, would virtually increas'
( the debts Of the world billions Of dol
: lars, and decrease still more the valul
r Of the property of the world as meas
r ured by dollars. Besides this i1nnie
'- diate result, such a change in chi
Q ratio would permantly decrease tn
9 annual addition to the worlds supply
b of money, because the annual silve
IS product, when coined into dollar
# twice as large would make only hal
l. as many dollars.
b "The people Of the United State
o would be injured by a change in th
y ratio, not because they produce silver
70 but because they own property an,
l. owe debts and they cannot afford I
q thus decrease the value of thei
n property or increase the burden @
their debts.
CARLISLE AND SHERMAN AGAIN.
Ia "In 1878 Mr.. Carlisle said: Mar
!. kind will be fortunate indeed il th
10 annual production Of gold and silve
ID coin shall keep pace with the annul
ia increase of population and industry
\. / repeat this assertion. All OF th
10 gold and silver annually available 70
ia coinsge when converted into coin 1
10 the present ratio will not in my jud(
o. ment more than supply our monetaT
" needs, In supporting the act {
10 1890, known as the Sherman act, Sci
10 atoT Sherman, on June s, Of .thl
h year, said: Under the law of FebrI
b. airy, 1878, the purchase Of 2 mlllio
dollars worth Of silver bullion
30 month has by coinage produced 81
u nually an average Of nearly 8 millit
at dollars per month for period
" twelve years, but this amount, in vie
a. of the retirement OF the bank mote
fit will not increase our currency in pr
he portion to our increasing pOpulatiO
of II our present currency 10 estimate
az 1 billion A0O million dnllara ar