The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-08-17
LEGISLATION CAN FIX THE RATIO.
Because the Production of the Precious
Metals Is Limited.

Because the Production of the Precious
Metals Is Limited.
Gold and silver are different from other
commodities in that they are limited in
quantity. Corn, wheat, manufactured
products, etc, can be produced almost
without limit, provided they can be sold
mt price sufficient to stimulate produc-
ton, but gold and silver are called prec-
ious metals because they are found, not
produced. These metals have been the
objects of anxious search as far back as
history runs, yet according to Mr.. Har-
vey's calculation all the gold coin of the
world can be melted into - foot cube and
all the silver in the world into a G6-foot
cube. Because gold and silver are linn
tied, both in the quantity now in hand
and in actual production, il follows that
legislation can fix the ratio between them.
Any purchaser who stands ready to take
the entire supply of any given article at a
certain price can prevent that article
from falling below that price. So the
government can fix price for gold and
silver by creating a demand greater than
the supply.
International bimetallists believe that
several nations by entering into an agree
ment to coin at fixed ratio all the gold
and silver presented, can maintain the
bullion value of the metals at the mint
ratio When u mint price is thus estab-
lished it regulates the bullion price, be-
cause any person desiring coin may have
the bullion converted into coin at that
price, and any person desiring bullion can
hn pnin ha
question upon which international bimet.
allists and independent bimetallists differ
is: Can the United States, by the free and
unlimited coinage of silver at the present
legal ratio, create "A demand for silver
which, taken in connection with the de-
mand already in existence, will be suifi-
Gent to utilize all the silver that will be
presented at the mintsg They agree in
their defense of the bimetallc principle
and they agree in unalterable opposition
to the gold standard
International bimetallists cannot com.
plain that free coinage gives benefit to
the mine owner, because international BIZ
metallism gives to the owner of silver all
the advantages offered by Independent BIZ
metallism at the same ratio. Information.
al bimetaIlists cannot accuse the advo.
ers who desire to raise the value of their
bullion;" or debtors who desire to paw
their debts in cheap dollars;" or "dema.
gogues who desire to curry favor with the
people," They must rest their opposition
upon one ground only, namely: That the
supply of silver available for coinage is
too large to be utilized by the United
States.
In discussing this question we must con.
slider the capacity of our people to use sill
yer and the quantity of silver which can
come to our minis. 1t must be remem.
bered that we live in n country only mar.
TALLY developed, and that our people far
surpass any equal number Of people in the
world In their power to consume and nro.
duce. Our extensive railrond develon.
ment and enormous internal commerce
must also be taken into considcrotion
Now, how much silver can come boros
Not the coined silver of the world bcca,s,,
almost all Of IL is more valuable M nj
time In other lands than il will he M ,,,.
minis under free coinage If our Mn.
are opened To free and unllm toI ,oina,.e
at the present ratio, merchandise s;I,,au
cannot come here because the I,bora,
piled TO IL has made IL worth morn 4, ,ti.
FORM OF merchandise than il viii bc I'LL
at our minis. We cannot even cxnec, an
OIL ,he annual product OF silver. beconso
Inuia, China, Japan, Mexico and mn ,h'.
o.her siiver-using countries must sntisr.
.heir annual needs from the annual MI
uct; the arts will require a large nmonn,
anu ,he gold standard countries will ncoJ
coinage. 'o' SUBSIDIARY
We VIII be required 10 coin only that |
mnlcn Is not needed elsewhere. bur IL ,ye
r.anu ready to take and utilize nil ~ =,
olher nations will be compcIlad 10 r..
(c0htnued on Third Page '"' "'