The Coalville times. [volume] (Coalville, Utah) 1894-1923, 1896-04-10

that TOOK away the demand Tor money
from the other. IL - maniiestiy impos-
nble that the wonder is that any in-
,ellirent person should repeat 10 and
yet nothing il more often heard than
this absurd claim, aud that, too. from
Otherwise intelligent people.
II ought TO lc manifest Co any one,
aud is tn everyone Who understands the
mos, elementary principle. oi money,
that neither metal eau possibly have the
same value. when denied monetary use.
or the right Of mintage. that ,s, with
demand upon it Tor money purposes
taken away, ~ IL would have with the
right Of free minmge, Or the right 20 be
converted ~ the will Of the holder inio
money. 80 one denies that the chief
value Of gold arises from the demand for
it Tor money. That demand is uncens.
Ing, is from everybody Is "irom every
thing for this one thing" ''is the sum
Of the demand 81 ell things for this
thing" aud this demand has been
enormously increased by taking from
silver the Joint demand Tor money and
doubling Il up on gold. This demand,
until silver was demonetiled, vas the
chief source Of the value Of silver, ~ IL IL
aud alNays has been Of the value Of gold.
Then, after having taken monetary use
from silver and concentrated the whole
demand Tor standard money on gold,
how utterly unreasonable to require
that the ratio Of one metal TO the other.
under these conditions, should he taken
a. their true ratio - money! In other
words, that silver should have the value
Of money before II ismade money, which
is mahiiesily impossible.
The vandcrbilts have two lines Of
railroad between New York and Buffalo.
Suppose they should la.o Off from one oi
these lines all through trains, leaving
only a law local trains TO DO a little local
bu.ine-s, and double the trains on the
other. Presumably the earnings Of the
two lines aud the value Of the stock Of
the two roads would be In proportion to
the business ofeach. Would II not APP
pear on its iacAahsurd, under such con
ditions, for the Vanderbilts 10 SAY
when the earnings Of the line depleted
u tgain' and husinss, shall s,lual .ths
earnings Of the other line, and It's stocl
becomes a- valuable, then we will pu
the through trains back on II, but no
till then" hut would this be any NOR,
absurd than 10 ask that the value Of vi
ver, without monetary use or tho righ
OF minlasc, should he the same rs viii
Iite
What would be- the value OF gold u d
were generally dymone,izcd, O. IL nigh
be-, and a. silver has beeng AZ the pres
rul rate Of consumption in thc arts, III,
Stock of gold nov 20 the world devote,
IN monetary use would last about No.,
years. What would be- the value Of any
thing Of which there was iifiy years sup
py on hand 1t Is the restriction which
has been placed on the monetary u,c %
silver, and the consequent increase,
work laid upon gold, that has wrough
the change in the value Of ho,h
Again, there Is no such thingas "oom
mercial value" 10 either gold or silver
separate and apart from Ia value a.
money, Even with silver demoneiisc,
In Europe aud the United States, it IL
still the demand Tor II for money by . o.,
100000 OF people chat chiefly determine
its value, aud there never was tim,
sioce those metals camc into use ri
money when they possessed value a
commodities separable from their yalu
as money This idea Is relic OF tdD
intrinsic value hllacy
First, then, restore TO silver the RICH
Of free minlage, the same as is accordr,
to gold, and the same that it possesse,
for indefinite ages prior to 1879, and ther
Il the coins Of the two metals do not re
main at par on the ratio Of 10 TO 1, Their
might be some reason for considering
readiu'tment Of the mint ratio, bu, no
| Tin then.--A J. Warner
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