The broad ax. [volume] (Salt Lake City, Utah) 1895-19??, 1898-01-15

Der ", 1899.
IA. That from the discovery of
America the output of the two
metals was 81 per cent of gold to
90 per cent of silver.
That from 1901 to 1910 the out
put of silver to gold was more lhan
81 in silver to $28 in gold, and
yet during all the time above re-
ferred to the principles of bimetal-
ism kept them upon the average
commercial ratio of less than 10
to one.
That at present the comparative
output is about $40 in silver to SIS
in gold; so that it is perfectly evil
dent that the widening in the diff
ference of the commercial ratio
between them has not been due to
any increase in the output of silver.
Is. That the old stock-in-trade
argument that the movement In
favor Of the free coinage of silver is
Gin the interest of western mine
owners" is the same as if men in
terested in the unduly high price
of bread were to denounce a move
ment to open the mills to corn as
simply Gin the interest of corn
growers"
l6.That from the earliest periods
of history gold and silver have
been money metals, just as wheat
and corn are now food products,
and closing the minis against the
free coinage of silver deprecated
Its value and enhanced the value of
gold just as naturally as 1T would
decrease the price of corn and in
crease the price of wheat to close
the mills against corn.
IL. That with the mills open to
both, and corn selling at 40 cents
and wheat at 80 cents bushel, if
the mills were closed against corn
its functions aud value as bread
material would be largely devolved
on wheat, thereby lowering corn to
about 20 cents and raising wheat
to 81.
Such was the effect upon silver
of the Sherman act of 1873. 1t sent
gold up and silver down.
Is. That closing the mills
against corn would not only injure
every corn grower but every being
that had been using cornmeal for
food, and every such person would
have to give more of his labor and
more of his products in exchange
for wheat, -four, or any form of
bread. Closing the mints against
silver has injured every man who
exchanges his products or labor for
gold or any form of money based
upon gold.
Is. Suppose it was proposed tC
repeal a wicked law that closed the
mills against corn and made wheat
the single standard or staple for
food, what would be said of the
men interested in keeping up the
unnatural price of wheat who
would fight the proposition for re.
peal and denopnce it as simply a
measure in favor of corn grow
ers?" They would simply be
laughed to scorn or branded as ex-
tortioners and enemies of the peo-
pie!
20. That with the mills open to |
both, the commercial ratio of corn
and wheat would be 2 to l. With |
the mills closed against corn, that
ratio would be 5 to 4. Would it
be just to say that before a law
should be passed to open the mills
to corn tie government should de-
clare. that so far as it was con-
cerned and Its influence could reach
it should take FIVE bushels of corn
to equal one of wheat.
81. That if opening the mills to
corn would naturally lift it back to
40 cents and lower wheat to 80.
and thereby restore the old ratio
of 2 to /, there is stronger reason
for saying that reopening the minis
TO silver would restore it to the old
ratio of l6 to !, for no man in his
sober senses would take 80 to GO
cents for silver which he could take
to the minis and get 100 cents for
by simply having it coined into a
dollar.
%. That the argument so otter
advanced By the goldiies that free
coinage of Is to : ould make this /
simply dumping ground
For silver" and that We would have
, perfect "deluge Of silver" is ut
;erly preposterous. The greatest