The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1899-01-19
Some Very Interesting Special Corr
respondence.
NATIONAL ISSUES REVIEWED
Interview with ''Coin' Harvey on the Great
and ALL Important Money Question.
Copyrighted by the Mcclure News Bureau.j

copyrighted by the Mcclure News Bureau.}
Chicago, Jan. 16, 1899.
There has been good deal said
lately about the ratio of 16 to l.
Judge McConnell's speech in this city
before the Monticello Club and utter
ances Of other democrats, reported id
the press dispatches, for moment
made it look as If the democratic
leaders were wavering on this SUBJ
ject. However, Mr. Dryan's speech
in this city on the 7th inst, and the
declaration of Altgeld, Harrison and
Others, show that nothing like COM
promising on the ratio is 10 be thought
Of But while this question is up the
reasons for the ratio OF 16 to | are
pertinent
The argument for this ratio given
by Mr.. Bryan in his speech here is
thatno practical action cen be obtained
in the election of democratic presi-
dent and congress, unless the presi-
dent and congressman elected are all
committed to a given ratio He very
correctly says that if the ratio is left
open in the platform we will have
some in favor of 16 to l. others 20
to | and possibly others 32 to /.
That all this would result in inde-
cision, inacLion and final defeat
Had Mr.. Bryan given more Of his
speech to this subject he would, NO
doubt, have given other and more
trenchent reasons for the party stand
ing firm on the ratio Of 16 to l. Be-
leving that what the readers of our
paper want is further reasons and
justification for the ratio of l6 to I,
called today on Mr., W H. Harvev,
author of Coins Financial School,,
and asked him to tell me what the
reasons are.
Zone reason" said Mr.. Harvey;
lis that as you increase the ratio be-
yond 16, you must either enlarge the
size of the silver CONS or lessen the
size of the gold coins. All our pres
ent silver dollars are 16 times the
weight of our gold dollars. All our
metallic money now in existance bears
that relative weight, silver to gold.
To change the ratio means the recoin-,
ing of all the coins made OF one of
the metals. If the change is made
in the gold coins it would be by re.
coming all the gold coins and making
them proportionately lighter-one,.
twentieth, or one thirlieth the weight
of the present silver dollar, accord
ing to what ratio was agreed on.
''And the other way?"1 asked.
nIs," he continued, ssto increase
the size of the silver coins 1t means
the calling in of all the silver coins
and recoining them, making them
e bigger and twenty or twenty
e five, or thirty or thirty-lhree times
rs heavy as the gold dollar. If yotf
increase the size of the silver coins
= the expense of recoining them will be
n very great as compared with recoin-
ing the gold coins, as the silver coins
= outnumber the gold Coins about 100
- to l."
"Do you mean,;" / asked, ''that
s there is 500 Of silver in circulation
IS to 81 of gold?"
n "No," he replied, there are not
as many dollars in silver coins as in
gold, but the dimes, quarters, halves
l. and dollars in existence make about
e 100 pieces to one piece Of gold that
/. has been issued The gold coins are
fives, tens and twenJies. There are no
}. dollar gold pieces, though it is made
by law the unit of value BY act
of congress they are no longer coined,
e for the reason that they are too small
to be popular or admit Of use. The
law provides for twenty three and
n two -tenths grains of gold as the unit
st of value, and yet it is impracticable
II to make the unit So, when you con-
slider that the gold coins are all fives
pr and over, and the silver coins are all
at one dollar and less, you can see how
there are one hundred of the latter 10
one piece of the former. And the
TX cost of recoining the silver would be
ST one hundred times as great as recoin-
ss ing the gold coins"
'.There is in the world, continued
Mr.. Harvey, "QG to y about the
at same quantity Of silver as gold. This
is an admitted fact on both sides.
. What | mean is, that dollar for dol
er lar, with the silver dollar weighing
~ sixteen times as much as the golt
"a; az dollar, there is in the world "a, 900,
600, 900 of each-gold and silver
: To state in another way. There i
by weight sixteen times as much sill
70, yer in the world as there is gold
en- Not twenty times, nor twenty-five
ID, times, nor thirty times, but sixtee
av s times as much, by weight, of silve
Be to that of gold. And when coint
into money al the ratio OF welQht