Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1896-09-17
Mr.. ADAMS ANSWERED.
Views of . Southern Farmer on the FL
nanctal Problem.


Views OF q Southern Farmer on the FL
nancta1 Problem.
Doubt leads to inquiry. Inquiry leads
to knowledge. knowledge shows the
truth. Truth makes "silverites."
Mr. Francis Adams rccently wrote:
It Is proposed by them that the minis OF
the United States be OF eEe6 to the free and
unlimited coinage Of silver at ratio of,
sixteen to enc sixteen grains of silver to
cI-e of gold. This, they claim. Will estab-s
Hsh & parity between the two metals-thei
only object the silverites claim they have
In view.
'.Silver;tes" claim more than this!
They claim that the restoration to sill
yer of it's original money function will
lift from the world a burden Of over
81, ooO, 0OO, 900 of debt placed solely there
through its demonetization; that the
vital force thus released can be much
more benefcently employed, while at
the same time an everlasting stop will
be put to the perversion of the term
'sound money" Mr.. Adams continues:
Let us see If this one pin to which they
hang their claim Will hold. To establish
ratio between any two commodities be
they gold and silver, potatoes and peat. silk
and calico. it is necessary. in order to as
certain their relationship. that these points
be settled: How do the two articles COM
pare as regards production? Is there as
much of the one as of the other? What
is the demand for the two, equal or I'M
equal? Upon these points will depend the
mercantile value. for no man is so ignorant.
no party so perfidious as to gainsay that
| the law of product and demand regulates
price.
In answer to the questions, let me
say: The report of the director of the
mint for 1894 shows, on pages 304-3o5.
| that the ratio of production of the tive
metals varies greatly, sometimes coin
ing value 81 per cent. gold, SO per cent.
| silver, sometimes IS per cent. gold and
| % per cent. silver; sometimes these
ratios are reversed, but during the fotu
| and a quarter centuries since the dis.
covery of America the total production
has been 46 per cent. gold and 81 peg
| cent. silver, showing that sixteen to one
| is pretty near Gods ratio. For the yeaI
| 1893 the production was 43 per cen5
gold to 81 per cent. silver. The aboIs
answers the first and second inter
rogatory. Now for the third: So fan
, as the records show, up to 1873. the de
mand for both metals was absolutely
unlinited-at an approximately fNeS
price since 1904, viz, that set by tho
French ratio of fifteen and one-half Ic
one. AS a result, as shown on page 2SS
same report, the ratio fuctuated from
1857 to 1906, between IA 14-100 to and
Is 79-1O0 to 1. The fluctuations from
1906 to 1878 being between 10 111OO t.
1 and Is 35-100 to 1, or less than oul
sometime fluctuations in gold exchange
Since 1873 this unlimited demand ha.
been taken from silver, by law, and LEI
, on gold, with the result of a tremen
dous fall in the value of silver as cx
pressed in gold. Mr.. Adams writes:
Silver. on the other hand. is subject t.
| violent, sudden and frequent fluctuations
nations cannot establish a price for silve
hullion and be certain that it will remain
| at that price. or practically So And TO
this reason debts. national and private
| bonds and all future payments are mad
! | to read payable in gold"
Here are two mistaken impression
entertained by him. The Royal commits
sion of Great Britain iE 1878 unanimous
ly signed a report agreeing that it wa
the French ratio which gave the stabil
: ity to both metals held by tbem durin:
the fabulous production of gold in tn
SOS and the immense silver demand O
India in the COS. Further, not a singh
national bond of the United States wa
; ever made payable in gold" Privat
debts payable in gold" were never az
: thorized by law until 1879. The outrag
of allowing an individual to avoid tn,
, legal tender laws of this nation will b
forbidden in 1897.
l Realizing how erroneous his premise
{ are, I trust Mr.. Adams will doubt tn
: accuracy of his predictions. He says b.
5 is wage-earner. 1 congratulate him
/ I belong to a class who have ceased L
+ earn wages. I am a farmer. Whel
sound co money men" tell US we ar
| getting poor because we work hard w
I doubt it. When they tell US that coin
/ ing silver at Gods ratio will wreck tn
country we take leave to doubt that
Habersham King, in N. Y. Journal.
A Lesson to the Veterans.