Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1899-11-01
THE NATURAL RATIO.
Mr. BOies Mistaken When He Asserts
That the Coinage Ratio Il
Not Essential.

Horace Boies has been interviewed
he is ''bimetallist." He would have
to be that or quit being a democrat.
The principles of democracy declare as
positively for gold and silver as the
basis for the nations monetary system
as they declare against high protection
and it's products, which are Industrial
monopolies, and discriminating laws
in the interest of capital combinations.
But Mr.. Boies is mistaken when he
says the coinage ratio is not essential,
says the Harrison County co., Dem
ocrat. He seems to be under the i'm
preston that the ratio should conform
to the commercial value of the metals
in the arbitrary way. The history of
coinage does not justify Mr.. Boies' con-
clusion. If gold were demonetized and
silver made the only metal money of
final redemption, the present difference
between the coinage value of gold and
the commercial value of silver bullion
would be reversed. The arts and sci
ences and mechanics could not find use
for nearly all the gold production, and
the market price for it would certainly
be made by a surplus in its anxiety to
sell. But having fixed value for coin
age purposes, and it's coinage being free
and unlimited, naturally and necessar-
lily its bullion value would be it's coin.
age value. The same thing would be
true of silver, but of no other metals
because gold and silver are the only
metals that possess all the constitutions
al and other requisite qualities for
money metals. The experience Of com,
merce and money-changjng for thou
sands of years proves this to be true
But merely possessing the requisite
qualities does not make either one oil
the metals legal tender money. That
is done by the fiat of the government
coming it, and the fat fixes the quality
and the quantity-that is the fneness-
that shall constitute legal tender fol
a specified purchasing and debt-paying
power. Less than so cents worth Of
silver, bullion value, now has 100 cents
worth of debt-paying and purchasing
PO"SA OSCduSU~ TIC A0C VI lAC SOVCA IL
ment makes it a legal tender for that
many cents, and the government itself
receives it at that value. After all
therefore, it. is the fiat of the govern
ment and not the qualities themselve.
which the metals possess that make.
them money. Hundreds of years o.
experience shows that the difference il
the quality of the metals produced fuc
tuates from fraction below to frac
ton above is pounds of silver to !
pound of gold. The ratio of production
is 16 to l., Therefore that is the natura
commercial ratio. Thirty-two to ont
is the bankers ratio. The difference
between the bankers ratio and tn.
natural commercial ratio represents TIL,
amount subtracted from the purchas,
price Of wheat and other products o.
the farm, by an act Of government
4 l1873) hostile to the producing million,
and friendly t. dealers in money, bonds
and interest. Il !, II
The Covetous Bankers.
IL the bankers succeed in securing TIL
passage Of q bill to make gold the sol
monetary standard and to enable then
to organize their paper money trus
4 they will soon have all the other trusts
las we'll as the people Of the country, q
their mercy
4 - a. - Birda i{{ss5