The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1899-04-07
THE FINANCIAL RATIO.
,s... or silver N "A Money
u,tnI IL the sole Cause OF It's
s.pnration from Gold.


!. 800 NJ Cernuschi said Chicago
r..-,rd for september ;. 1900:
.1,he free coinage of silver al SIX
NJ one. recstablishcd by the United
..,.- without the concurrence Of Eu-
, would be step in the direction
m International bmetallism, Tor un-
f-thr regime of the new standard the
.tee,i,e power Of the United States
,,a,,.l receive 50 enormous an impulse
sr5 ,his Development would have such
DISASTROUS eject upon the economic
M financial interests 81 England and
.tsr European nations now governed
~ the gold standard that il may be
.gd,ntly predicted in advance that
~. course OF events would force the
,5,nt;on Of international bimetallism
+. thc only true solution, even upon
.ho>c who to.sss deny the possibility
and efficacy Of it,"
II S sad that the present wide sepa-
~saon Of the metals precudes the pos
.ib.itv OF our considering so narrow a
-e.o as sixteen to one. What has
.at-.l this separation % the metals?
rte.riainly cannot be attributed toany
.ha.rc that has taken place in their
--.. production. At the begin
-iar 81 the present century their reia-
N production was little more than
-aa ~ silver 10 one OF gold. AZ the
.a.Ne Of the century II was nearly
a,f ana in The ffiics their relative
tr.1rction was reailN four Of gold TO
.re M Silver. But these changes did
N duce any practical effect upon
authoritative value. They ~ere linked
+acetl n "a the inflow Of gold increased.
An increase or decrease in the output
N either metal simply had the effect
il Increasing or decreasing the volume
primary money, without disturbing
a.e practical degree their relative
alne. since 1873. the period Of their
eeara. n. the production u siiverlas
,trv slightly, IL at an. exceeded that II
rod. Their separation from each other
ommen,ed in 1873. when silver was
xc.udea from the money stock and
reduced 10 the situat ion Of merchan-
fse-Wher il was transferred from
me scale OF the balance occupied by
money 10 the scale occupied by prop
er-y, and as n necessary consequence
god The sole occupant of the money
SCALE has risen in value. and silver.
Nl other property. has fallen. In
1fhfr words, prices have been and are
Ier,siently falling. The disuse OF sill
yer as a money metal is the sole cause
II It's separation from gold. and the
only possible way Of restoring it TO
parity with gold is TO replace it in
he money scale Of the balance by en-
owing it with the money function
equally with gold. This certainly VIII
ave the effect of arresiing the fail Of
rriccs and causing them TO gradually
move in the opposite direction, thereby
nergizing all our industries and Civ
ng ample employment TO labor Ger
rainly we ought not to forego these adj
santagcs in order that we may try 10
BIS our debts. public municipal and
private. in money Of the highest value
~ purchasing power. especially when
Ne are under no legal or moral obliga-
ton 10 do 30. We must ever remem-
btr that money Of the highest value or
aarchasing power means the lowe
angc Of prices. continual lessening
production. and a cutting down Of
ages paid for labor. To pay our debts
money of the highest value or pur-
'sasing power is a sentiment that may
happlauded in great city. alta sump-
'uous feast of its bcneficiaries but il
can find no entertainment in the hum
e'e homes OF its victims. the toilng
masses