Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-06-27
Tor IIire!"
THE FIXED VALUE OF Sill YER

Inc Cleveland correspondent Of the
Cincinnati Enquirer attributes what
ever Improvement has occurred in
business affairs of all kinds since the
great depression of 1S93-97 to the in
crease in currency, and claims that the
Improvement would be much greater If
more silver money were added to our
circulating medium.
The Georgia Bankers Association re-
Gently adopted resolution favoring
the establishment of a Federal sub
Treasury at Savannah. and the Presi-
dent explained this, as follows:
THE resolution came from the inte-
rior bankers. who are the ones who are
most affected by the present lack of
Treasury facilities in this section Their
trouble is simply this During the cot
ton harvesting season they require sill
yer in large quantities. which can only
be obtained from the Treasury at
Washington, or the b-Treasury at
New Orleans at n cost for transporta-
ton of s2.15 per 81 .000."
Commenting on what the Cleveland
CORRESPONDENT of the Cincinnati En-
quirer says. as to the Improvement OF
business being due to increased cur
rcncy, and that this Improvement would
be the greater with more silver money,
the Richmond Times says:
but who knows that? TO omen the
mlnts %. the country TO the free coin
age of silver We're at best an expert
mcnl-and so dangerous an experiment
that If the people next year should de-
che TO make ii, every sensible man
knows that there would follow a iinan-
cial panic. Money is easy in this coun-
try not simply because there has been
an increase in the gold output, bu,
more than all. because confidence has
been restored and money has come out
of its hiding places to seek invest
ment"
Yes: when the act of 1873. demonetiz-
ing silver and stopping its free and I'M
limited coinage, was enacted, this Eek
pertinent" had been in successful opera
tior for Just 81 years: and at the mo-
nheht OF stopoaSe 1t was Il grand sue
cess, with silver bullion at a premium
over -o!d AT the ratio of 16 to 1. How
sedulously it is sought to suppress the
fact. or ignore 1t. that our u S. MINIS
Tor 81 years were open successfully and
prosperously to the free and unlimited
coinage Of silver at the ratio of l6 TO
/ of gold TO open our minis to silver.
as demanded by Democrats. is to re-
open them. not to an experiment, but to
an old custom. right and privilege.
founded in our Federal constitution,
and cocval with the institution of our
Mint ana coinage.
The Times calls it not only an expert
ment bit a dangerous experiment"
Why? How?
Perhaps the Times objects to the
ratio Of 1G to /? VIII 1t mention
juster and more satisfactory ratio than
that? VIII it dare propose and advo-
cate the Commercial ratio" as 1t calls
lt,-that is, the commodity value of sill
yer. say, - to !, the money-value of
gold? VIII 4; dare? MOI never. Eng
land has hundreds of millions of dol
lars in silver coin at higher coin
value than IL to !: France has twice
the amount at still higher value; and
all Europe has millions on millions in
silver, at n greater ratio than 16 to !,
and every nation in It's own coin.
The Times knows very we'll that 1t
dare not seriously suggest any other
monetary ratio between silver and gold
coin than 16 to ]. Such a proposition
could be received only with mingled
cries of indignation and derision. 1t is
preposterous to alter the existing ratio.
Nor would the restoration OF silver in
the u. s. at all affect this ratio-unless