Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1897-08-05
ALUMINIUM and Silver.

day might still demand the free and
unlimited coinage of aluminium at the
ratio of one-sixth of an ounce to the
dollar. In case the question of COM
mercial ratio should be raised, the
aluminium owners could denounce all
opponents as goldbugs and enemies of
the ''plain people," and proceed to
argue that aluminium really had not
deprecated. but that gold had appre-
ciated. The 16-to-1 silver craze has
foundation.-PopIar Bluff Republican.
There's logic for you OF the genuine
Goldbug brand, warranted to neither
rip, tear nor ravel in the service of its
friends-and, providing the wear be
not too rough nor the strain too great,
a garment fit to clothe the silver luna
tic in everlasting discontinue. But
let US examine its warp and wool. Alu-
minum is to-day applied to a hundred
uses to where it was employed for one
forty years ago; yet, by reason of
cheapened methods of extraction, its
cost is so greatly reduced, and the
basis OF its supply so illimitable, that
it is no ''irridescent dream" to believe
that in time it will to a great extent
replace the now cheaper and baser
metals. Aluminium is, practically
speaking, the discovery and product
of the last half-century, yet within
that short period, with its use con-
stantly increasing, it has declined in
value, according to our contemporary,
as l is to 500. Silver and its uses are
coexistent with civilization - indeed,
they belonged to civilizations which
died thousands of years before the
Christian era-and for more than the
twenty centuries particularly known to
and Interesting US this metal retained
its relative value to its yellow brother.
What, then, has caused its deprecia-
ton in value, as measured by gold,
during the past twenty years? 1t is,
relatively to the costlier metal, pro-
duced in no greater quantities than
anterior to 1873; in fact, at certain pc
RODS prior to that time, Its production
stood at the ratio of one ounce to forty
of gold, while to-day the relative guam
titles of the metals are about eighteen
an ounce of silver as it did in 1873.
No use in the arts and manufactures
to which it was then applied has been
abandoned, but on the contrary these
uses have been increased. On the day
that the unit was changed and the
measurer of values for the United
States for over eighty years was de-
monetized, the silver dollar at the
ratio of 16 to l was worth three cents
more than the relative coin of gold.
What, then, has caused the apparent
decline in the value of the white met
al? We say apparent, for, measured
by all things, save one, to which its
purchasing power is applied, it is as
valuable as eyer it was. In its rela.
ton to gold alone has it changed. OF
all commodities mot trust protected)
necessary to the sustenance and COM
forts of life, an ounce of silver will
purchase as much as it ever did.
o, no! we have not forgotten the
squirt in wheat! And herein we can
not give our contemporary credit for
honest though imperfect logic. No
economic question is determined by
the conditions of a day, but by its
working through long term of years
applied to the mean level of trade and
commerce through those years. An
extended famine in breadstuffs such as
was experienced in India and else
where last year will for the time being
force up the price despite the lowering
tendency of an approaching measurer
of value. Again, the great crops of
extremely fruitful years, beat down
the prices below the normal. So, to
determine the effect of an approaching
or depreciating standard of money up
on commodities, the results of years
must be computed and the average
determined. Referring to Calderwood
and Heffron's Non-Partisan Manual of
1896 we find that wheat declined from
$1.25 in 1873 to 50 cents in 1898, and
that though there were fluctuations in
that period, at no time after 1873 did
the price attain the figures first given.
The nearest approach to them was in
1S79-S1, after the passage of the
Bland-Allison act, which partly reha-
bilitated silver. But the decline has
been constant and sure; even in these
days of Mckinley Prosperity - with
unusual demands for cereals from the
famine-stricken plains of India and
elsewhere-the price of wheat is fifty
cents bushel less than on the day the
white metal unit was deposed.
Then what has caused the deprecia-
ton of silver in its relation to gold?
1t is not because of cheaper produc-
ton, as is the case with aluminum; it
is not because of increased production.
as IL the case with aInminum Then