Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1903-11-24

OF late much has appeared in the
press concerning the plan proposed by
President ROosevelt's Monetary Com
mission for the regulation of exchange
between the gold Standard nations
and those still on silver basis, and
almost every article that has coma
under my observation has been well
calculated to mislead the public with
reference to the scope, purpose and
probable effect Of the proposed plan.
l find, in conversing with many, a
prevalent belief that the scheme IN
contemplation is intended to fix the |
ratio between gold and silver, as met
ais, at 80 to 1, which. would make sill |
yer bullion worth a tritie less than
sixtl-five cents an ounce. This idea OF
the Commissions recommendation is
altogether erroneous. The ratio of 80
to 1. as proposed, has reference only
to the coined money not the bullion
at all.-The proposition Is simply shat
the coinage of the present silver stand
ard counties shall be SO regulated as
permanently to maintain their silver
coins at . ratio of % to with the
coins of the gold standard nations
This would give the Mexican dollar
a value q fifty cents in gold, but the
value of silver bullion would not be
affected save in an incidental way.
and this effect would necessarily be
unfavorable !
1t must be borne in mind that the
change proposed means the placing of
the silver using countries on gold
basis. This end is to be reached first
by limiting the coinage of silver
there and secondly, by providing
gold reserves with which to
redeem the silver coin when
it shows a tendency to fall
below the value fixed. Those coun-
tries now have what is essentially free
coinage. That is to say the Mexican
dollars can be coined without restric-
ton in Mexico, while they can be used
freely in China after they are coined.
So, the eject is the same as il the
dollars could be freely coined in both
countries.
Any intelligent person bestowing a
moments reflection upon the matt ;:
must be able to see that to place Mex
leo and China on a gold basis canno!
be to the advantage Of silver: It might
as well be urged that the. adoptio.
of the gold standard in Europe an5
America gave the white metal bet
ter status and a higher value In fact
every extension of the gold .standat
means an increased demand for gOss
and a lessened demand for silver. Tit
inevitable result is to increase tn,
value Of gold and lower the value ;,
silver-andz everything else which il
priced in gold.
The GuggenAeims, the head of tn
American Smelling and Refining con-
pany, have given this scheme a some
what dubious endorsement. They rrg
that it's adoption, by preventing tn
rise of silver, win check its produetio
and thus help maintain the price Til
Guggenheims, being chiefly interests
In treating the ore after it has bee
produced by the miners, may loo
with comparative unconcern upon ii
checking Of productions but it is har
to imagine anything that would hav
a worse effect upon the silver mimi
States. It is safe to say that very fe'
residents of Nevada will look wit
favor upon any scheme, the effect
which would be to check the, prodn
ton of silver. What almost every N
vadan is praying for, is an increas
at least within the borders OF his sow
4 State, and it goes without sayingEthi
anything which checks the prOductif
of silver generally will check it's spr
duction here.
This plan recommended by the M
notary Commission. aid its orig
with those who have at all times be<
uncompromisipg foes Of silver coina2
and whose aim 1t has been to make Il
white metal complete monetary Q,
cast. except in small way as "toks
money" The idea of any plan form
lated by these men being designed
help silver is too preposterous for se
Gus consideration. Under the poll
which they are now urging, SHY
could never rise above sixty-five cen
an ounce because the coined mel
could always be obtained at that pr
or : little less, while the hmitati
q the coinage would inevitably for
the price Of the bullion below the g
value, unless there should be &C
siderable falling OF In production
either Of which means serious inju
70 the silver mining States.
Il i tue that The report q {
A.-~esaarm nneoks yague1y about t