The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-09-18

TWO metals was hrtytwo ounces of silver TO one ounce
OF gold. From 1850 1873 this condition more
than reversed During the period-1SJ0 TO 1s73-folow
ihg the discoveries of gold in California and Australia
there was SO of gold produced in the world 81 Of "a
yer. And yet Notwithstanding these violent fluctuations
III the worlds production of the metals 1t did not
seem TO nave any perceptibe effect the commercial
value OF the two metals their relative weights coin
ed into money The option of the debtor controlled The
demand and thus regulated their commercial value The
option of the debtor automatically shifted the demand
ana regulated their values III acted automatically Ike
the regulator a engine This. with the minis
open to coin all that would come, scientific bmetal
sm.
LAWS OF 1873.
In 1873 the law changed and gold only was made
primary money. The minis left open to the free
coinage of gold but closed the coinage of silver
An unlimited demand for gold for use as money was
left in operation The unlimited coinage of silver was
stopped One of the main arteries feeding blood 10 civ
ilization The debtor was TO have no opon
TO pay in money made from either of these two metals
He was 10 be limited to gold alone.
WORLDS PRODUCTION SINCE 1873
From 1873 to the present time. the worlds prod- ion
of the two metals has been about equal 81 gold 70 81
of sver-1G of silver ounce of gold from
1873 to 1885, there produced in the worll eighty
cents in silver 81 in gold At period of twenty
three years prior to 1873. the worlds proluc ion
Of gold and silver anywhere equal dollar for dollar
worlds equal production dollar for dollar of the two
metals since 1873. they have separated in commercial
parity 30 per cent.
While prior TO 1873 tie fuctuation in the worlds pro-
duction Of the metals violent md had no eject
beyond three per In their commercial parity from
the legal ratio since 1873 with fuctuaon practi-
cay in the worlds production the two metals hey
have separated 80 per cent.
THE MEAT OF THE QUESTION
now approach the question been the least IN
derstood 1t is the idea that the dollar is xty That
wheat may fall but that the dollar never rises or falls
Our people understand that supply demand Affects
the value of wheat but they do to have uer-
stood the effect Of this law money. There was time
in the world when believed that the earth stood
still and the went round every tweny-four hours
And 1t who live to-day that this is the ase
But have learned that such is II Is the
world that moves. though seemingly not TO do So We
are now to learn that the dollar may rise and fall IN
value.
Let illustrate this so there can be no misconcepion
Suppose the law was to declare wheat our primary
money and bushel OF wheat the unit dollar When
we would refer dollar, would mean bushel of
wheat its equivalent now mean 2322 grains of
gold. its equivalent. III wheat became less the
demand for II grew for it's money, 1t would buy
In exchange for other property lf, under such
law Won went into the market TO purchase horse and
agreed with the seller on 500 MS the price OF the horse
you would have TO the exchangeabe value of
the horse and bushels of wheat-whea dollars. II the
law were suddenly changed and tons OF wheat
made dollars you into the market TO buy the
same horse IL would you about S130 expressed
in the new heat dollars-ton dollars In each instance
the price OF regulated by its exchangeabc
value with the substance out OF which the primary dol
lar was constructed.
Under such system. with wheat as primary money,
all other forms OF money would be redeemabe in wheat,
and therefore, would be called the equivalent of wheat
Under our present system Of money 322 grains u pure
gold or grains Of standard gold pure gold and hoy
constitute the dollar. So when You into the mar
ket buy horse other property, any price agreed
upon reference to the exchangeahIc valrn of te
property and gold-with gobua OF standard gold \
weighing 2s grains the dollar in which you VIII *.
press the value OF horse other property Aad all
our other forms money rcdeemable in these gold
dollars.
| am proceeding thus far conceded facts: and that
there may be misunderstanding to the redemption
Df all our OF money, In gold, quote from Sem
ator Foraker In his Columbus o., speech. Aug 10
wherein he says "Slver is made good gold by rea
son Of the that silver coins redeemaue In
gold" Since the commercial value Of gold has been
enhanced as the result ~ the act Of 1873 any at
emp 10 make each dollar good other dollar
requ redemption In gold.
IN each money. whether paper or silver redeenable
IN gold they are the representatives OF gold Hence, an
exchange Of dollars for horse or other properly neans
the rea We exchangeabe value OF gold for the w perty