The Butler weekly times., 1896-08-06
VIEWS ON TIE SILVER QU ESTION
The Fallacy of the Mexico Argument
EXPOSED BY Bay State Man.

The Fallacy of the Mexico Argument
Exposed BY Bay State Man.
Leavenworth, Kan, July pa
letter received in this city by John
II. Atwood from 1. z. Morse of
Marlboro, Mass, indicates that the
people of the Bay state are students
of the silver question as the follow,
ing letter will prove:
Mexico is free coinage nation,
and am asked to explain why her
silver dollar is worth but So cents in
gold and If the United States is able
to accomplish what Mexico fans to
do, to wit: establish parity of the
metals through free coinage.
10 the latter, why not! May not
an elephant bear with ease burden
that would crush an OK or an ass?
Mexico is a poor country. Her land
is almost untaxed and owned by the
Jew. She has less than 100000
inhabitants, four.fifths Of whom are
Indians and half breeds. We have
100000 of progressive people.
Mexico has circulation of 81 per
capita (all she requires, probably,
under present conditions). The
United States requires a total circu-
lation many times greater than that
of Mexico. In the task of res toring
the ratio between gold and silver we
are many times as strong as she. It
is idle to compare the two countries.
Should Mexico close her mints in
the white metal, it is quite likely
that the gold value of the Mexican
dollar would drop a few points. Vice
versa, to restore coinage would raise
it's former ualue-55 cents.
Closing the Indian mints reduced
the gold price of silver "a points.
Vice versa, opening the same ought
to restore it.
Opening the United States mints
ought to raise the price of silver as
much at least, as the closing OF
Indias depressed it. By free coin
age We add to the present demand
for free silver; we diminish the pres
ent demand for gold. At the ratio
of 16 to /. the value of the metals
should meet. Where they will meet
is speculative. Whether we shall
pull silver up to the present gold
level or pull gold down to the pres
ent silver level, can only be deter
mined bv the purchasing power Of
the new standard whar ador'ed.
Manifestly, if silver's purchasing
power goes up to the present golo
level, prices will remain unchanged
and the WESTERN farmer will search
in vain for his S1.25 wheat. In tina
event the gain would be that while
prices would remain as low as now
their further decline inevitable un
der standard based upon gold
would be arrested and more stabilit,
assured, since under an alternating
standard the cheaper metal meas
ures values.
do not believe we shall pull sill
yer up to the present gold level
nor pull gold down to the presen
silver level. The two meta
will meet, somewhere between thei
present positions, and prices vii
rise in just such proportion as tn
value of gold is lowered
1t greatly undertakes our ow
power, and magnifes that of cthe
nations to assume That the Unite
States is powerless to substitute tn
natural ratio of the two metals 10
the artificial one now existing
Should we fail, silver monometalisl
is much to be preferred to gol
monometallism It is strong al
gument against cold standard TO
this country that to day our currer
cy is poised upon SO insufficient
basis that the very suggestion OF
change disturbs the equilibrium
the business from Maine to Caiifo
MIA, and starts su outward flow {
the yellow metal to return only III
der bonds. \ system that canne
stand even the suggestion of