The morning times., 1896-07-21
The Intricacies of 16 to l.

to the popular mind or is so little understood by
the average citizen the known free coinage and
generally designated 16 to l. With some it means
that 16 silver dollars will be equivalent in value to OF
gold. Others think the government will circulate 10
times many silver gold dollars and nearly
magnes that free silver will make money plentiful
or there would not be many believers in that financial
heresy Truth that there less money in circulation
free silver countries than in those that have adopted
the gold Standard aid in that well every
other free silver is allacous, destructive and dap
pointing financial policy Russia, Mexico Central
America, British Honduras, Colombia Peru. Bolivia
Ecuador Paraguay, Morocco Tripoli, Maurtius India
China and most other countries in Asia, except Turkey
belong to the free silver tribe and not of the Russia
not excepted can be classed thrifty, progressive
commercial nation Strangely enough it has been the
cheap labor wheat and cotton products of part OF these
cheap money countries that have practically impoverished
American farms and inaugurated the free silver
among our Southern and Western agricultursts.
The population of these free silver countries is 924
800 O00 The amount of money they use including coin
and uncovered notes. is OIL 500 O0O about So per
capita Their money is divided follows: God-prin-
cipally the chest of Russia-s469 600 OOo silver
79 200 000 subsidiary silver S217 500 000 and
covered $5o1 OOO The population of the gold
standard countries is 194.4OO, 0OO and the of
effective money they circulate is S. 9S 600 000 about
SIS per capita With less than oneffth the
the gold standard countries transact ten times the bust
ness of their free silver neighbours and in point of civil
zaton progress, wealth. and commercial power they
much in advance of them modern development is
ahead of the feudal ages Were the United States
adopt the debased money system of these impoverished
countries its degenerating influences would destroy the
commercial that has given prominence
manufacturers and traders, and limit ability dis
pose of products to markets The fact that
we the monetary standard of the great commercial
nations gives standing with them in every other
try but let descend to the monetary level of
China, Mexico India and to become active
mpetitors the commercial world. The old aphorism
that money makes the is much suitable when
applied to nation. country without sound
tary system country without proper credit pro-
gressve ideas, will be by examining the history
of of the free silver nations and the United States
will take long step backward should adopt free
age. s2
One ounce of gold, American standard of fneness
coins in gold SIS co. Sixteen ounces of silver American
standard of fneness coins in silver dollars $780, there
fore 16 that act of Congress shall make 16
ounces of silver equivalent in value to of gold
The present market value of 6 of silver 1904
free coinage silver producers could take 6
of silver to the government mint and receive in
$780, thus realizing gain of 81 per and above
the profit they make. According to the declarations
of the svertes, charge for mlntage would be made
restrictions put either upon the of silver
coined the place where it from. The United
States would be made the dumping ground tor all the
silver of the world and their enthusiasm these tnse
Drained nancers claim that other would bring
their silver mnts and after having it coined use
the money to purchase products thus stimulating
foreign trade. 1t does not work this way in Mexico
where silver has been the standard money nearly oar
centuries There eleven minis in operation there
which coined s. 21 600 O0O and of that vast amount
only s45 OOO 900 have remained in the country while the
per capita circulation of money, including ten bank note
issues is at the present time only $3.50 The remainder
of the silver coined has been exported and sold at its
bullion value pay for imports brought into Mexico
That is precisely what would become of surplus sill
yer coin the event of free coinage 1t would be sent
the country and sold bullion at price fixed by
gold to pay for imported goods.
! Another class of silverites, including Mr.. Bryan
claims that free coinage would bring silver to parity
with gold In that event nothing would be gained Our
banks and financial centers already bursting with