Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1897-12-02

a. Statistics show it to be approxi-
mately as ] to 16.
Q. Why then will one ounce of gold
now measure about 80 ounces of silver?
"A. Because of supply and demand.
q. For what purpose has been the
greatest demand in the past for gold and
silver?
"A. For the purpose of coinage.
Q. Has there been any diminuton
in the demand for silver in this respect in
recent years?
A. Yes.
G. Why is 23.2 grains of pure gold
worth dollar?
A. Because the government will freely
coin this amount into dollar.
Q. Why is not sixteen times this
amount of silver worth a dollar, it's labor
cost being approximately the same?
A. Because the government refuses to
take silver from the producer and coin it
into dollar upon any basis.
C. Has this refusal, which largely re-
duces the demand, anything to do with
the exchange value OF silver?
A. In talking for political effect say
no.
Q. But has it not?
A. OF course.
Z. If the government were to open its
minis and freely coin 20 grains Of gold
into dollar, would the 20 grains be
! worth dollar?
A. Certainly.
q. Why?
A. Because it is gold.
q. If it were to as freely coin an ounce
of silver into dollar would the ounce be
worth dollar?
A. No, sir
q. Why?
A. Because it is silver.
Q. Are you not quite contradictory,
Mr.. Pattison?
A. have to be to support my posi-
ton.
@. Referring back to the yard stick,
why, if that measure is invariable. does
it not always measure the same number
Of yards between the earth and the sun
A. Because the relations OF the earth
and the sun vary at different times.
@. Which varies the yard stick or the
earth and sun?
y. The earth and sun.
@. Why will 1872 grains Of gold or a
dollar measure the value OF one bushel of
wheat at one time and two bushels at
another?
A. Because the relations between the
two varies.
@. Which varies the wheat or the dol
lar?
a. The wheat, OF course.
@. Will our silver dollar always ex-
change for as much wheat for instance as
our gold dollar?
A. Yes.
@. Is it redeemable in gold?
A. No.
@. Why will it then exchange for as
much as gold dollar!
A. Because the government has said
it shall be accepted as dollar in pay
ment of all debts public and private.
Possibly Mr.. Pattison would answer
this question by saying that the govern
ment had promised to maintain the
parity, but how this promise differs from
the other is not clear.
q. When the silver in dollar was
worth more in the markets OF the world
than the gold in gold dollar, would a
silver dollar purchase more wheat than
gold dollar?
A. No.
@. Which then was the measure Of
value, the metal in the dollar or the dol
lar?
A. The dollar, Of course.
@. Were you not then mistaken in
your direct examination in regard to
which was the measure, the dollar or the
metal?
A. Appearances are against me
must confess.
@. Now, then, Mr.. Pattison, having a
number OF times contradicted yourself in
answering these interrogatories, do you
now think you that have studied into the
currency question very much deeper than
those who differ with you, as would be
inferred from the reading of the third
paragraph from the bottom Of column
three Of your direct examination?
A. Well, thought had, but guess
1 can learn few things yet on the snb-
ject.
The greater portion of Mr.. Pattison's
direct examination was a mere thresling
over Of old straw, we have tn erefore con-
fined the cross-examination to impeach'
ing his testimony regarding the poi mt al
to whether the dollar or the metal II the
dollar was the measure OF value.