The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-01-17

Chicago. January 1A--fStaff Special.)-
There has been good deal said lately
about the ratio OF 1s to 1. Judge Nc.
ccnneli's speech in this city before the
Monticello club and utterances OF other
democrats, reported In the press dis
patches, for the moment made II look as
II the democratic leaders were waverins
on this subject. However. Mr.. Bryans
! speech In this city on the 7th inst and
the declaration OF Altgeld. Harrison and
others show that nothing like compromis-
ing on the ratio is to be thought of. But
while this question is up the reasons for
the ratio of 16 to i are pertinent.
| The argument for this ratio given BY
| Mr.. Bryan In his speech here is that no
! practical action can be obtained on the
election of democratic president and
congress, unless the president and con-
| gressmen elected are all committed to q
given ratio. He very correctly says that
II the ratio is left open in the platform
we will have some In favor OF le to /.
I others 20 to l, others 90 TO 1, and others
possibly 30 to l.. That all this would result
| in indecision, inaction and Anal defeat.
| Had Mr.. Bryan given more OF his speech
to this subject he would no doubt have
| given other and more trenchant reasons
| for the party standing frm for the ratio
| OF 16 To 1. Believing that what the readers
! of the Post want is further reasons and
| justification for the ratio at 16 ito i. l
called today on Mr.. w. II. Harvey, author
OF Coins Financial School" and asked
him to tell me what the reasons are.
| ~
| "one reason" said MIR. Harvey. lis that
as you increase the ratio beyond 16. you
must either enlarge the size Of the silver
| coins or lessen the size of the gold coins
All our present silver dollars are sixteen
times the weight of the gold dollar. The
| exact ratio Is 1898, but we say 16 to for
convenience. What is meant by ratio Is
that our silver dollars are 16 times the
weight of our gold dollars All our me-
tallic money now in existence bears that
| relative weight, silver to gold To change
| the ratio means the recoining of ali the
| coins made by one OF the metals. II the
change is made In the gold coins it would
be by recoining all OF tho. gold coins and
making them proportionately lighter
| one twentieth or one -thirtieth the weight
of the present silver dollars, according 10
what ratio was agreed on
| and the other way" asked
| is" he continued, ito increase the size
| of the silver coins. It means the calling
in of the silver coins and reconing them
all, making them bigger aud heavier
/ ~ tl.fr
three times as heavy as the gold dollar.
| II you increase the size OF the silver coins
/ the expense OF recolning them will be
! very great as compared with recoining the
! gold coins, as the silver coins outnumber
| the gold coins about 100 to II
/ do you mean l asked. that there is
/ $500 Of silver in circulation to 81 OF gold?"
No. he replied; there are not as
many dollars in silver coin as gold. but
the dimes, quarters. halves and dollars in
| existence make about 100 pieces to one
piece of gold that has been issued. The
| gold coins are fves. tens and twenties.
There are no dollar gold pieces, though It
| Is made by law the unit Of value. BY act
| of congress they arc no longer coined. for
! the reason that they are too small to be
| popular or admit of use. The law provides
| for twenty three and two-tenths grains of
| gold as the unit of value, and yet 1t is Inn
practicable to make the unit. So, when
| you consider that the gold coins are all
| fiyes and over and the silver coins are one
| dollars and less, you can see how there
| are something like 100 OF the latter to one
piece OF the former. And the cost of re-
coming the silver would bS 100 times as
great as recolning the gold coins"
| ~
| 'aThcre Is in the world, !" continued Mr..
Harvey, ''about the same quantity of sill
yer as gold. This is an admitted fact by
both sides. What / mean Is, that dollar
| for dollar, with the silver dollar Weighing
sixteen times as much as the gold dollar
there is in the world about $4.000.000,000 of
each--gold and silver. To state 1t another
way: There is by weight sixteen times as
much silver in the world as there Is gold
Not twenty times nor twenty-five times,
nor thirty times as much. but sixteen times
as much, by weight, of silver to that OF
gold. And when coined into money at
the ratio OF weight OF 16 to 1 1t makes sub
stantially the same number Of dollars OF
each metal. When the same privilege is
given to silver, by a powerful Nation like
the United States, that gold enjoys, ut the
ratio of JIG to !, the commercial values OF
the two metals will resume their former
relation, with the silver In silver dollar,
practically, OF the same commercial value
as the metal In the little mythical gold
unit. or dollar"
But is the United States big enough to
exert this innuence?'' asked.
'The Standard OIL company Axes the
price OF oil the world over. The American
Sugar Refinery axes the price Of sugar.
Surely the United States is bigger than
either Of these concerns. and can hx the
price OF silver tho world over. It is a
simple problem when one understands II.
But" he concluded. u have not yet given
you the principal reason for the ratio Of
Is to H."
.A.s 49, !. ost Z = ~ i.5l