Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1896-09-30
a7e @ aeoy S IN Va0eas

two metals thirtytwo ounces of silver to
OF gold. From 1850 1873 this condition
than reversed. During the perod1S50 TO 1S73-6olow
ing the discoveries OF gold in California and Australia
tnere was So of gold produced in the world to 81 OF sill
YER And yet Notwithstanding these violent fluctuations
In the worlds production of the metals it did
seem to have perceptlble effect the commercial
value OF the two metals at their relative weights coin
ed into money The option of the debtor controlled the
demand and thus regulated their commercial value The
opon or the debtor automatically shifted the demand
and regulated their values 1t acted automatically
the regulator steam engine. This. with the minis
open to coin all that would scientific bimetal
sm.
LAWS OF 1873
In 1873 the law was changed and gold only made
primary money. The minis were left open to the free
coinage Of gOd but closed the coinage OF silver
An unlimited demand for gold for use as money was
left in operation The unlimited coinage silver was
stopped. One OF the feeding blood to civ
ilzaton Off. The debtor to have no option
TO in money made from either these two metals
lie to be limited gold alone.
WORLDS PRODUCTION SINCE 1873.
From 1873 the present time, the worlds production
OF the two metals has been about equal 81 gold to 81
Of silver1G ounces of silver of gold From
1873 to 1885, there produced the worll eighty
cents in silver to 81 in gold At period of twenty
three years prior 1873. the worlds production
Of gold and silver equal dollar for dollar
it has been since 1873 And yet Notwithstanding the
worlds equal production dollar for dollar of the two
metals since 1919: they have separated in commercial
parity 80 per
While prior 1873 the huctuaton In the worlds nro
duction OF the two metals violent had 10 erect
beyond three their commercial Darity from
the legal ratio; since 1879; with fuctuaton practi-
cally in the worlds production Of the metals they
have separated 80 per cent.
THE MEAT OF THE QUESTION
now approach the question that has been the
dersood 1t is the idea that the dollar is fxity That
wheat may fall but that the dollar rises or falls
Our people understand that supply and demand affects
the value Of wheat but they do have under
stood the effect OF this law money. There was time
in the world when it believed that earth stood
still and the round every twenty four hours
And 1t who live to-day this is the case
But have learned that such is the is the
world that moves, though seemingly to do so We
to learn that the dollar may rise and fall IN
value.
Let illustrate this there be misconcepton
Suppose the law declare wheat our prjn,urx
money. and bushel Of wheat unit or dollar When
we would refer TO dear. would mean bllshcl OF
wheat its equivalent % DO grains of
gold. its equivalent If wheat became less or the
demand for it grew for its money, it would buy
more in exchange for other property. If, under such
law you went into the market TO purchase n horse and
agreed with the seller $50 the the horse
you would have reference the value of
the horse and bushels of wheat-wheat dollars the
law were suddenly changed and tons of wheat were
made dollars, and went into the market buy the
same horse would you about 81 30 expressed
the price of the horse regulated by its
value with the substance out Of which the primary dol
lar constructed
Under such system. with wheat primary money
all other forms of money would redeemable In wheat
and therefore, would be called the equivalent wheat
Under system Of money 3D. grains OF pure
gold 2S grains of standard gold pure gold and anoy,
constitute the dollar So. when go the mar
ket TO buy horse other property, price agreed
has reference to the exchangeable of the
property and gold-with globula OF standard gold
weighing 25S grains the dollar in which you will ex
press value OF horse other property And ALI
other forms of money redeemabl these gold
dollars
proceeding thus far conceded facts; and thar
there may be misunderstood ing redemption
of all forms OF money, in gold, quote from SEN
sator Foraker in his Columbus. o.. speech, Aug Is
wherein he says: Sver is made good gold by rea
OF the fact that silver coins redeemabe in
gold" Since the commercial value of gold has been
enhanced the result of the OF 1873 any at
tempt to make each dollar good every other dollar
requires redemption In gold.
With each money, whether paper silver redeemable
In gold they the representatives gold Hence an
exchange Of dollars for horse other property means
the relative exchangeabIe value Of gold Tor property