The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-08-13

heavier than a gold dollar and thai ,Sers .,
iUre SliN.C ~ less convenient TO carry fr
tiiicate. which is as easily carried NJ 81 nc
n,ooney. ' ' "''i' Oh paper
There arc some, who, while odm,,,,,,,
VI ne peheiits OF b.me,allism. object ie
colt; &c at the present ratio, If any nra
deceived by this objection they otlrh, IN
Ierlo mber that there are no, bimeinliis, ss
W, NJ m, ar" earnestly engaged to secure It
a. hh! other ratio than l6 to l. We arc
"ppeseu 10 any change in the ratio Tor
Two reasons; first, because a change Womb
produce great injustice. and second. he.
cause u change In the ratio Is not neoes-
s,ry. A change would produce in .
because If effected in the manner mana !.
suggested 1t would result IN an enormous
contraction In the volume of Standard
~ for instance, IT was decided by inter.
national agreement to raise the ratio
throughout the world to 80 TO l. m.
change m ght he effected In <of thr, @
ways. The silver dollar could he doubled
an size, so that new silver dollar would
weigh S2 times as much as tho. uresent
Gcid dollar. or the present gold dollar
could be reduced .one-half In weight so
that the present silver dollar wouli weigh
W times as much as the new gold. dollar.
or the change could he made incrcas r /:
me size of the silver dollar and decreasing
sne size S Of the geld dollar until the new
much as the new gold dollar Those who
have advised a change in tho rat o have
uHuhliy suggested that the silver dollar
ne counted. IT this change were made l.
would necesSitatA the rccoinage of four
billions of silver dollars into two billiors
of dollars. There would
BE AN IMMEDIATE LOSS
OF two billions OF dollars either to In
d.Viduals or to the government. but this
would be the least of the injury. A
shrinkage of one-half In the silver money
Of the world would mean a shrinkage of
one-fourth the total volume of metallic
money. This contraction by increasing thu
value of the gold dollar would virtually
Increase the debts of the world billions OF
dollars and do stu more. decrease the
measured BY dollars. Be Besides M9''' his as
immediate result such a change in
the ratio would permanently decrease the
annual addition to the worlds supply OF
money because the amount a { silver pro-
duced when coined into dollars twice az
large, would make only one-half as many
dollars. The people of the United States
would he injured by change in the ratio
not because they produce silver. but he
cause tho amount of silver produce
when coined into dollars twice AS large,
lars. The people of the United states
would he injured by change In the ratio
mt because they produce silver. hut he
cause they own property an1 oWc debts
aHh tl'N can not dUoTt 10 mus 'rr| 'a.e
the value of tncir properly or increase tho
burden of Their debts.
IN ls'S MY. Carlisle said: "Ma1kind Will
be fortunate indeed IT the annual produc-
non OF gold ana SILVER CON shall keep
race With the annual Increase If popula-
ton and industry | repeat this asscr-
tion # all Of the gold ana silver annually
available for coinage were coin"d at the
present ratio 1t would not more than sup
ply our monetary need Is.
In supporting the at of 1880 known as
Under the. law of February 1915, the
purchase OF 100000 worth of ; liver bull
ION month and its coiuase. produced an
Iuallay an average of nearly $1,000, zoo per
month for a period of twelve years. but
ms amount. in Wow of The retirement OF
bank notes, will not increase our ctrcula-
,ion in promotion TO our increased popula,
ton II our present currency, estimated
ut 81. WNOm.WN among our population Is
rcroas ng al the rate of 3 per cent per
lnnum. 1t would require s'20n.oN Increase
'tch year to keep pace with the increase
IF popu, alton but rs the iurreas" of popu-
alton Is accompanied hy still greater
alto of increase of wealth and because Vt
Mas thought an mmcd al" increase Of CIR
'ulg' ION might he obtained by 'he larger
purchases of silver bullion to AN amount
sufficient to make good the retirement oi
1ank notes and keep pace win the 2rnWlh
# population. Assuming that Si,WNV" Il
year Of additional currrncy : needed upon
p : basis. IN At amohnt is provided for n
Exchange fer bullion at tho market price
If the United states then needed more
han N2 cocoon annually TO keep race win
population and business, Z now, with
arg.r uopu.ation.. needs Stlli better an
lusl add items; md the United States Is
,nly one ration among many. our "ppo.
lents make no provisions for ;he Increased
monetary needs of the world. In he csc |
md place, u change in the ratio = not
necessary. Hostile lcgislato has de-
'rea>cd the demand for silver -nd lowered
is price
WHEN MEASURED BY GOLD,
while this same hostile legislation by in-
the demand for gold has raised
he value of god when measured by other |
We are iold that the restoration Of hi |
netallsn wouli be hardship on those |
n gold coin but thia is Il ms'alie II I
sill he easier to Obtain me gold WITH |
shioh to meet 4 gold contract wnen most |
II the people can use silver thnn II is |
.old The Chicago platform expressly de-
'lares in favor OF such legislation rs may !
sc necessary TO prevent for the fntnre
he characterization Of any kind OF lesa!
cnder money by private contract. such |
ontracts are objected to ON the ground |
hat they are against puhlic policy No
lx the rate Of interest which can be col,
ccted ny law. There is far more reason
o prevent private individuals from set
ing aside a legal tender law. The money
, hich is by law made legal tender must,
+ the course of ordinary business. be ac-
opted by ninety-nine out OF every nun
nan l., permitted TO exe,npt himself from
lie general rule. Special contracts have
tendency to increase the demand for
ariicular kind OF money ana mus I9rce
to a premium. Have not the people a
light TO say that comparatively few indi-
idueis shall not be permitted to
)ERANGE THE FINANCIAL SYSTEM
+ the Nation in order to collect pre-