Greenbrier independent. [volume] (Lewisburg, Va. [W. Va.]) 1859-1980, 1896-08-06
A Few Definitions.

| tiOu VI tne meaDlnR Oh tne teTibS
used. No further apology is neces-
sary for the definitions here given:
Standdrd-In all trading there
must be a standard or unit by which
to measure things. We measure
cloth by the yardstick, liquids by the
gallon, grain by the hali-bushel, etc.
In effecting exchange of commodi-
ties we measure the price i'm money
so much gold or so much silver or
their equivalents-the two metals
the world has recognized as money
from time immemorial or until sill
yer was struck down by England in
1916 and by the United States and
other governments in 1873. In the
United States the money unit or
standard, fixed in the early history
of the government, and remaining
so fixed until 1873, was the standard
silver dollar, consisting of 81 grains
troy Of pure silver, or 4l24 grains of
alleged or standard silver, that is sill
yer mixed with copper. The gold
dollar was fixed at 24.7 grains Of
pure gold, which was reduced to 23.2
grains when the ratio was changed
from ; to 16 to in 1887.
RatiO-This has reference to the
proportion in which the two metals
have been discovered and dug from
the earth ; and it is one Of the most
remarkable things in nature that,
taking the world over, from time
immemorial. the two metals have
been discovered in the proportion of
| ounce, l pound or ton of gold to
Is, 153 or 16 ounces, pounds or tons
of silver. That is to say that by di.
viding the whole product of silver
in ounces, pounds or tons, rs you
please, by the whole product of gold,
we get the quotient or ratio Of 10.
153 or 16, and this is what is meant
by the terms 10 to as in the early
history of the Government, l5j to |
as now in France, and Is to /, the
present legal ratio in the United
States. 1t is much disputed ques-
ton whether this natural ratio has
been seriously interfered with by
modern discoveries of silver. The
advocates Of free coinage claim that
it has not been. 1t is admitted by
all, we think, and the mint tables
show it, that the entire mass of gold
and silver coin in the world to-day is,
in round numbers, about four thou
sand million dollars of each at the
natural ratio of from Is, 10! or l6 to
/. Taking this as true, it seems clear
that the depreciation in the price of
silver bullion is due simply to the
fact that so many governments have
demonetized the white metal and
thus put it at discount as compared
with gold. Ratio has reference to
weight. IF you divide the grains in
a silver dollar by the grains in a gold
dollar you get as the ratio or quo.
tient, 16; hence the term 16 to1.
ACKNOWLEDGEMENTS term comes
from the Greek, and means one
metal. A monOmetalist is, there
fore, one who believes in the use OF
one metal as standard money. I'm
til quite recently the monometalists,
In this country, even in the Repub-
lican party, were very few and very
far between but now that the Re-
publican National Convention has
declared in favor Of maintaining the
existing monometalic or single gold
standard, so mysteriously fixed upon
this country, they are more numer-
Gus, but still, as we believe, in a woe
full minority.
BimetdtiSm--Thi word comes
from the Latin, and means two met
ais. A bimetalist is, therefore, one
who believes in the use of the two
metals, gold and silver, as standard
money. In other words, bimetal
list Is one who believes that both gold
and silver should be coined at the
mints, on equal terms, into money
of ultimate redemption or final pay
ment, and that the standard coins of
each should be full legal tender in
the payment of all debts, public and
private. 1t will hardly be ques-
toned by any one that an over
whelming majority of the people of
this country (nine-tenths of them
said Mr.. Blaine) are bimetalists, IA
voring the use of both metals as prI-
mary money as recognized in the
constitution, and in the whole world
until England struck down silver i'm
1916 and other governments i'm 1873.
DenaOnetize--To demonetize a
metal Is to close the minis to its coin
age as standard money of final re-
demption and full legal tender in the
payment of debts. Our government
still coins silver into subsidiary
pieces, such as quarters and half dol.
lars, which are legal tender to the
extent of five dollars, but the stan
dard silver dollar Of 412A grains of
standard silver was struck down by
the act Of 1873, and this, we say, de-
monetized silver. There is no law
now under which the standard silver