Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1896-08-16
VOLUME Xxx.


Mint Director Preston has made the
following simple and comprehe nsive
statement in regard to tho coinage
ratio between gold and silver in re-
sponse to frequent inquiries on that
point:
All standard silver dollars coined
by tho mints OF tho United States
since the passage Of the act OF Jan. Is
1897, have been coined in the ratio OF
l TO IL 1854. generally called the ratio
to lG-l5.9SSi being very nearly 1G.
Still. to reach accurate results. the
former and not the latter figure must
he used in calculation. Tho ratio is
obtained in this way:
Tho silver dollar contains 81 -
grnins of pure silver and the gold dol
lar 232 grains Of pure gold. IL you
divide 37l."5 10y 23.22 you will get the
ratio Of weight between IL gold dollar
and "a silver dollhr--that Is l59SSi. II
is true that to he on "a par with gold
silver would fat our ratio) be worth
sl,292g. Tie reason is this: 4 gold
dollar contains ~. ID grains Of pure
gold. In an ounce, or iS0 grains OF
gold, there are as many dollars M
1922 ia contained times in $50 or one
ounce. II you divide $50 by 2322 you
get go 81. the number OF dollars that
can be coined ont Of an ounce OF pure
gold. In other words, the money
equivalent of one ounce OF gold or Of
]5 9SSi ounces of silver mt the ratio Of
to l5,9S5i. Now. il lj,9SSi ounces
OF silver be worth s20.67, one ounce
will he worth sl.2929. rs you can
prove hy simple division. Tho same
result is obtained 10y dividing is0
grnins or ono ounce Of silver by 81 -
the number OF grains Of pure silver in
II standard silver dollar. mt the ratio OF
l to l5.9ssi, which gives l.2929.
Sixteen ounces Of pure silver will
coin little more than one ounce Of
gold; l5,933i ounces OF silver will
coin exactly tho same amount OF
money rs one ounce Of gold-that is
S20G1. You can prove this By divid-
ing l59SSi Ounccs by 37l. % grains.
The operation Ii ms follows: l5059i.
multiplied by 1870. divided by 37I -
equals 20. .G7i.
II is not true TINT sixteen ounces Of
silver will coin only sIG. so Mt the ra-
ito Of to 10.
IA will he seen above, one ounce Of
silver will com Sl.2929. Multiplying
sl.At9 by ~ gives s2OG3. You can
make the same result in anothar way:
Sixteen ounces Troy. or 1880 grains,
divided by 37l.2j, gives tho number
Of silver dollars thHt can he coined
ont OF sixteen ounces Of silver; T6sU,
divided 10y Hl.25. cquats 2OGs.
Mr.. Preston has also furnished nm.
sweta to the following important
questions:
First -Whnt il meant 10y the free
c'innge of s,lverY
Answer Tho right OF individuals
to deposit standard silver in any
amount mt tho mints md have it COIN
ed into full legal tender coins.
Second-Whnt is meant by tho rn-
tio Of lG to 1?
Answcr--The ratio in coinngc OF 1G
To mcnns thnt lG ounces OF pure sill
yer coined ahnll have the same value
ns ono ounce Of pure gold coined
namely, s2067.
Third What IL meant by bimetal.
isinY
Answer-1'he unlimited coinage OF
both gol,l and silver. ON privnto nc.
count. into full legal tender coins.
Fourtli--Whut ia meant by eingle
standard, gold or silvorH
Answer--Thnt only one metal shall
he coined on private account into full
lcgal tender coins. and that only the
favored metal shall bc coined with.
ont limit.