The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-06-29

of 16 to L, and one writes: 'Wlll you please
explain in 100 words, for the benefit of young
voters the silver question:? To this corre-
spondent the answer is, ait cannot be done"
| The eminent men of the age have grown gray
| haired in their endeavors to solve this ques-
ton and explain it in many thousands OF
words SO that the general mass of people could
| understand it, but they have not as yet been
| successful. The question whether it is the
| wiser policy of the United States Government
to admit the free coinage of silver in unlimited
| quantities on the established ratio with gold,
| or to restrict the minting of the cheaper metal,
| has for many years constituted an important
! factor in party politics. Bimetallism is the
doctrine that two metals can and ought, at the
same time, in the same country, be adopted as
standards of value, and to bear to each other
a fixed ratio, established ana recognized
| by the Government. Bimetallic money is
money constituted by admitting both
gold and silver 10 Tree colhage ana
certain relation in value to the other. Mono
metallism is the use of only one metal as the
standard OF value. Free silver or lree coinage rag,
of silver is to have the minis coin silver oul,
| lion for individuals the same as ~ aoes golo
bullion. The Government coins gold for 1ndi-
cost ~ the soys NO S desire Of those who de-
! mand free silver coinage is 10 nave silver
| coined, as gold row is, for any one who brings
| ii TO the mint at merely nominal cnarge, al
| lowing the owners OF the silver bullion to Sc
| cure the profits which go to the government
when 1t COINS silver dollars. An advocate OF
| free silver coinage says: Measured by COM
modities gold has risen so per cent since the
demonstration of silver in 1873; silver, as
compared with gold, has fallen not more than
30 per cent. Silver, therefore, as measured by
commod tiles, has not fallen, but, on the con-
trary, the weight OF testimony shows that
there has been slight appreciation of silver
in spite of its decentralization. The free use of
silver will lessen the demand for gold and in
crease the demand for silver, thus causing gold
to fall and silver to rise, and in this way the
par of the two metals can be brought about
without injustice to creditor debtor" On
the other hand, the opponents of silver say
. \ 10 nnTn 0rn ~ rulNfNA N4nfa
cannot be demanded as a matter of justice, as
all contracts since 1873 have been on
gold basis; that the Government cannot main.
tain the price of silver; that free coinage could
not restore its value; that 1t would result in
overproduction, an unloading by other nations
and further decline in price; that it would
not establish bimetsllism, but would drive
gold out, bring the United States 70 the sill.
yer basis and result in the initiating of prices,
and increase the cost of living. The meaning
of the expression 16 to is that silver dollar
shall, by weight, contain six teen times as
much bullion as does gold dollar, and that
both coins shall be legal tender at equal value.
BY the law of 1892 any person could have gold
or silver coined at the mint into lawful money,
receiving therefor coins OF the same specie OF
bullion, weight for weight, of the pure metal
contained therein. The gold standard was IL
parts pure to one of alloy, the silver was 14S5
pure to 179 alloy The ratio was 10 TO 1. In
1895 "a cents per ounce was retained for sill
yer below the standard, and cents Tor gold.
In 1923 q sum was retained from silver bullion
requiring the test for materials and wastage. In
from all standard gold and silver deposited for
coinage, if paid for in coin, within five days
from deposit. In 1897 the standard gold and
silver coin was made niue-tenths pure and
Ito alloy, and legal tender for any sum. In
1858 the weight of half dollars was reduced
from 2061z to 1872 grains, and lesser coins In
the same ratio, and made legal tender to the
amount of S.. No private deposits for coinage
in these coins were received. and charges OF "A
per cent were made for refining. By the law
of February II, 1873, the weight of the trade
dollar was to be 400 grains, OF the half dollar
1913 grains, and legal tender to the extent OF
S. Silver bullion could be deposited for
coinage into trade dollars only; gold for coin
age for the benefit of the depositor. One-ffth
Of / per cent was charged for converting
standard gold bullion into COIN and silver into
trade dollars. Silver coins, except trade
collars, were to be exchanged for gold coins at
par in sums not exceeding 500. Seigniorage
Is the difference between the cost of a mass of
bullion and the face value Of the pieces OF coin
from IL. 1t is q percentage upon bullion
brought to the mintto be coined or exchanged
for coin.