The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1900-08-24

IL the Ratio NJ which Even Our Goio
standard Administration 10
Coming silver.

States l6 ounces OF silver are the equiv
alent Of one ounce OF gold. The law I'M
der which our gold and silver is coined
was enacted in 1894 Prior to that time
the coinage laws OF 1892 were in force
making the equivalent in coins OF Is
ounces of silver and one ounce OF gold.
The silver coin Of the world outside
of the United States bears the ratio
to gold coin of 1874 10 /. Prior TO 1884
gold coin of the United States was
shipped abroad in payment of foreign
balances in preference 10 silver be-
cause gold. relatively to silver. would
go further in satisfying foreign de-
mands on account of one ounce OF gold
being equivalent to 1914 ounces OF sill
YER abroad while il was only equal 10
Is ounces at home.
In 1884 a law was passed reducing
the weight of our gold coins. Under
the new law one ounce OF gold was
the equivalent in coin of 1898 ounces
of silver, which being only 2.o1 OF an
ounce less than i6. has since that time
been referred 10 incorrectly as 16 TO
for the sake of speaking in round num-
bers.
After the passage of the coinage law
OF 1884 the American silver dollar was
at premium over American gold coin
in Europe until after the demonetiza-
tion act Of 1873.
What is therefore known as &c to 1
is the law of the hand. aud has been such
Cor &c years. The latest coinage law
enacted in this country was passed
by a republican congress and signed
by President Mckinley June 13. 1895.
Ii will be remembered that when the
war revenue bill was on its passage
Senator Wolcott. of Colorado. intro
duced an amendment. which became
q part of the bill. authorizing the coin
age of not less than 100000 silver
dollars each month. The silver dollars
coined under this law are coined at
the ratio of 16 TO / and contain the
same amount of pure silver Authorized
in the law of 1894 which is the only
silver dollar ever coined by the govern
ment.
Under the administration Of Presi-
dent Mckinley there have been coined
59.9ss, $50 silver dollars. During the
|
coined at the minis of the United
States 100000 silver dollars at the
ratio of Is TO !. and the minis are still
coming silver dollars at that ratio.
Why then this republican howl about
i6 TO 1? If Is is wrong. why did Presi-
dent Mckinley sign law authorizing
the coinage of not less than 1850 coo
of these dollars per month al that ratio
until all the silver bullion purchased
under the Sherman law. amounting TO
about $4,000, 900 worth. is made into
coin?
II there is anything wrong about 1G
TO why has not the president recon-
mended a change of ratio. which he
has not done? If l6 10 ! is wrong, why
has not some republican member OF
, the house of representatives or OF the
senate introduced a bill to change the
ratio which none of them have done
. but instead have passed bill TO coir
approximately s90.00o.t00 at thai
: ratio?
: Sixteen 10 one is McKinley's ratio
the conclusive proof of which is thai
he is coming silver at that ratio an,
has never mentioned any other. al
: though both houses of congress ar,
: republican and the administration ha
4 the power 10 change the ratio.
! II has been our experience. and W,
venture the assertion that il is III,
:. experience Of our readers generally
= that the men who are found pratint
9 about 10 TO throughout the countr,
Z are ignorant Of the facts herein stated
! MANY OF those whom we find decryin.
y Is to honestly think that these fig
: ures refer TO something new. the in
e vention Of Mr.. Bryan or something COP
e fed by him from the populists. The.
y do rot know that il Is the law OF tn
: land and that il has been such for 6
q years and that II has the indorsemen
: OF the present administration. Either
o is anything wrong about 10 TO tn
a Mckinley administration is culpabls
j. because under a law of its own enact
r nent il is coming and paying out sil
l. yer dollars at that ratio. and is no
l. ,onfining itself 10 the minimum AZ
e thorized by law but is uttering sue
n coin far in excess of such minimum
limit under the law.
: These facts will no doubt appear I
a. be startling information 10 such RI
h publicans and democrats as have bee
q the unsuspecting dupes of some ignc
Is rant editor who parrots through I'll
r columns Of his paper the twaddle ser
n out from some fake factory of the gol
s. combination. But the fact that the
d have been deceived and yictimize
l. ought TO serve to put them on the
} guard in the future and TO warn thcI
n against crediting what purports TO I
i information coming 70 them throur
n any such unreliable sourecs.--Nation,
Waterman.