Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-10-05
Observation-Disclosures.
iS An este emed and &. able e 81 dite con
temp QrarYN sa Ys 80

SSS Ar este med B and able goldites con-
temp orary says b lS,sS b
We have over ana over a gain shown
that the. ra Ito of g16 to Il between silver
and gold was fixed upon in Sthisycoufi-
try not abecauseE there was that magl-;
the metal. but because at the %pnrtic,,-
!ar time OF the adoption OF the rntioi
10 TO 81 happencdSt o be the recognized
value ms other countries. II the sun
OF either metal for q generation be-
fore had been. Observation-Disclosures. sothnt
ne European ratio a century aEo had
neen 80 toll 5or..10 to i, then 80 10 1jor
~ 70 I would have been our ratio. There
10 Ino,thing sacred. nothing miraculous,
nothl1,ng2 binding In .'16 to l.. was.
between 81 he metals. S. JUST now 81 Is
nothing Of the kind. Forced leglsIa5
non .yto recognize II would be absurd
as 10 regulatestrgislativel the course
wafer should take In running. up hill"
THIS is said In considering tile Demo-
cratic! platform of Ohio which, our
contemporary agrees liz bout as good
as any other State Is likely to pass. ex.
cept in Its declaration for return TO
silver free and unlimited coinage at, 1e
70 l. This is worthy of some serious
consideration. for the \ Constitution
makes 1t the duty OF Congress ito coin
money and regulate the value there
Oh. When the Constitution was adopt
ed; money consisted Of gold and silver,
coin was money and that was the
money Congress was and is to coin for
the States and people. few Of the latter
Knowing gold coin at all, and most OF
them knowing only silver coin. whose
largest denomination. or coin, Is one
dollar. which was made the standard
of value.
The Constitution, moreover after
placing the power and duty Of coming
money In Congress. forbids the States
to make anything but gold and silver
COIN tender In payment of debts:
and this Is not a mere authorization.
but command. that the States shall
make gold and silver coin tender in
payment of debts: not gold coin only,
but both gold and silver coin: and un-
der these provisions the right of the
citizens OF the States and the people OF
the Union to both gold and silver coin
Is plain and indefcnsible by,.the act Of
Congress OF February ~. 1873, or any
other act of Congress. and can be law
fully denied or taken away by constitu-
tional amendment.
These. surely. are forcible reasons
why all men who respect the supreme
law of their country should favor the
restoration OF silver coinage and the
repeal Of the demonstration act of
1873. But it seems that it Is the ratio
Of is to 1 Which our contemporary
chiefly objects to; yet that was the
ratio when the constitution recognized
and adopted silver coin; and 1t is to-
day at least as low as the monetary
ratio of value maintained by any gov
eminent between the coin of the two
metals.
And how else are we to know the
monetary value of any coin, except by
experience. test, and the usage of the
world? Many millions of dollars of sill
yer exist all over Europe, in every ma
ton, and nowhere is the coin rated at
ratio of less than 16 to /; on the con-
trary, 1t is mostly greater than 16 to
/. Experience in this country, too.
demonstrates that whatever may be
said to the contrary. the ratio of 1G
to 1 Is not too high for silver, for at
the moment of silver decentralization in
1873, the silver dollar was at premium
over the gold dollar from 3 to per
cent. What has silver as a mere COM
modify got to do with it? What COM
parison can be made between demone-
tized silver metal and silver coin, free
and unlimited? None at all; and when
it is attempted it is futile and mislcad-
ing, If not fraudulent and false.
The moment the act of 1873 is repeal
ed and the free and unlimited coinage
Of silver is restored, all the power of
all the governments in the world can
not keep the metal anywhere, except
near the mines and in small quantities,
at less than 16 to /. Nor shall we be
overrun with silver at that rate for
the rest of the world will be glad to
hold their present silver and obtain
their large annual necessary supplies
of the metal at the same rate we do;
and nothing is more certain than that
no nation in Europe or the whole world
will dare to attempt to undersell us In
silver. and every probability is that
will go above 16 to in Europe and
Asia. If not elsewhere.
Let us entreat our esteemed con-
temporary to look into these things
with unjaundiced eyes, and see them in
their true light, before cntailing more
evil upon the people of the United
States and all the world by mistaken
policy that has enriched q few enor-
mously to the enormous loss Of man