The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-05-28

AT lhe ratio or 1Jl2 parS OF SILVER ~
one OF gold or equal fineness; In some u
was IL 10 !; while In our country II was
10 10 until 1884 and then III 20 i. ms
constituted the legal ratio or mint
price and IL r. remarkable that Tor TWO
hundred years after the establishment
OF This legal ratio or mint price the
market ratio or price remained SUP
sianllally the same as the legal
ratio the difference being chieny
the cost OF exchange and the
market ratio or prlc. was IN
influenced by the Increase or DE-
crease In the production Of either metai
from time 10 time The statistical IA
hes giving what IS called the marker
price Of gold and silver for two hun
bred years prior to 1913 show that
there was practically no variance OF
the market ratio Of fifteen and nait
70 one during all that time. Sometimes
one metal would be little more plen-
tiful than the other in particular
country. but this did not matter; the ra-
no or price Of each remained the Same
and the sum OF the two metals taken To-
gether and treated practically as one
constituted the measure OF value OF
things throughout the world. During
All that time commerce never hfteu
It's finger in favor OF the demonetiza-
ton Of either metal and the contention
that the business of the world discrini-
mated against silver Is not true.
Commerce Obeys statutory Law.
The history Of these two hundred
years show that instead OF commerce
dicating. II always adapts itself 10 the
: In in, "a ut
tariffs and of protection rests entirely
upon the idea tina, the business of the
world adjusts itself TO positive statu-
tory cnactments. Ar present gold Is pro-
tccted: 1t Is given n monopoly through
the act Of government.
What American ana European Statesmen
Have >nid on the subject Of .
single STANDARD.
Attempts have been made 20 bolster
this dishonest single standard move
ment up with ,he names of distinguish
/ Cd statesmen and to make 1t appear
that they favored that which in re.
atty they denounced In 1892 Alex
ander Hamilton wrore upon this sub
ject;
Upon the whole II seems 10 be most
ed, not to attach the unit exclusively
to either OF the metals. because this
can not be done effectually without
destroying the office and character OF
one Of them as money and reducing
II to the situation of mere merchandise
To annul the Use of either of the met
ais as money Is to abridge the guam
THY OF circulating medium and is labl,
70 all the objections which arise from
comparison Of the benefits Of full
with the evils Of scanty circulation.
Jefferson wrote 10 Mr. Hamilton il
February. 1902. these words: IL concu
with you that the unit must stand OF
both metals"
In 1872 William II. Crawford. secre
tary of the treasury. reported TO cor
, gress as follows. "All intelligent wr
ers or the currency agree that whe
! il Is decreasing in amount poverty an
E misery must prevail" In 1852 Mr.. X.
T. Hunter. in a report 10 the Unite
, States senate. said:
o "Of all the great effects produce
: upon human society hy the discover
: Of America there Were probably nor
e so marked as those brought about h
( the great influx of the precious meta
4 from the new world into the old. FL
q ropean industry had been declinin
: upon the decreasing stock or ii
I precious metals and m appreciatin
! standard Of values. Human ingenuii
0 grew dull under the paralyzing ii
L iiucnces Of declining profits. and CAP
Q tai absorbed nearly all that shoul
: have been divided between IL an
I labor. The mischi,
I would be great indeed II all the worl
( were TO adopt but one Of the preciot
J. metals n the standard Of value 7
/ ADOPT gold would diminish the spec
e currency more than one-half ar
b should silver he taken as the only sta
e dard. the reduction would he lars
Q enough to prove highly disastrous
u the human race
In February. 1878. Mr.. James I
$ blaine said: "On the much vex,
). and long mooted question as 10 /
+ metallic or monometalllc standard n
r views are sufficiently indicated in Il
e remarks I have made. believe Il
e struggle now going on in this COUNT
4 and In other countries for n single GO
II standard would If successful. produ
" widespread disaster in and througho
l. tho commercial world. The destructi,
~ Of silver and esta hlshing gold as
le sole unit Of value must have ruino
"a effect upon NIL forms of property Q
ie cent those improvements which vie
n n fixed return In money. IL is impt
y sihle to strike silver out of existen
IL rs money without results which W
y nrove distressing to millions and dis;
ne irons 10 tens of thousands. / belle
II gold and silver coin 10 he the mon
:. ~ the constitution: indeed. the mon
~ Of the American people anterior 10 I
~ constitution. which the great organ
law recognized as quite Independent
'F Its own existence No power was e,
~ forred on congress to declare eitl
~ metal should not be money Congr,
~ has in my judgment no power 10
~ monetlze silver any more than to
4, monetize gold
=. Tnited states Senator Roger
III ,,Iils IN discussing this question. 81
- ,put the crime that is now sought
.ld no nerpetratcd on more than fifty n
"a lions Of people, comes neither from
Nv comn Of the conqueror. the hand
"a M foreigner nor the altar Of an idc
w ,nr il comes from the 4
nhlermatic. marble heart Of avar
,at NM seeks to paralyzc labor. incrc
m M hrrdcn Of debt and ill the Il
,cn Win restitution and suffering to or