New-York tribune., 1903-02-09
GOLD AND SILVER.
Plans for Establishing Fixed Ratio.
% the Editor Of The Tribune.

To the Editor OF The Tribune.
Sir: In oldeu times the worlds supply Of silver
furnished the best measure OF value for the worlds
commerce that then was To-day gold best serves
that purpose The leading nations have already
made it standard value. and all others are
seeking TO establish for their silver currency
hxed ratio to gold The great decline in the value
of silver in the last fifty years has brought but
little disturbance TO the internal trade or silver
countries. such India China. For them the
shoe pinches in the importation Of foreign goods.
which must be paid for in gold at cost in silver
twice or three times as great as formerly
In gold standard countries the strain comes be-
tween the gold and silver coinage. The silver IL
redeemabe In gold. and so Is current al three times
its commercial value. and she temptation 70 coun-
terfeit it is such that millions of false money
1oated. which be detected and must be-
come drain upon the treasury. For US in the
United States vast load Of overvalued silver coin
should give us the nightmare. Our buzzard dollar
is valued at Is to 1 OF gold and our subsidiary coins
at Is to l. The French coinage is valued at iSls
to 1 and 14lz to 1: SO they are worse off than we
are. The commercial value is below 20 to l. Why
may not each nation for itself reduce the nominal
value of its existing silver coins 20 one-thirty-
second Of the value Of the same weight and fine
ness in gold?
Every nation Issuing coin is responsible for its
redemption; it received full value when it made the
issue and it must stand the loss Of depreciation
Let take the bull by the horns call In all silver
pieces. on the face OF which shall be stamped
peso half peso, or 'one-quarter peso" etc.
Let amend our coinage laws so as to make our
silver dollar Of 4121. grains peso Then 100 cents
would make one peso and two pesos would make
dollar in gold. This plan would discourage
counterfeiters and unload millions OF now useless
silver in the Treasury vaults. for it would make a
demand for twice the silver coin now in circulation
Our silver coinage. now stagnant and useless. would
these terms flow into China and the Philip
pines. where it could perform It's function as the
iffeblood Of commerce
This plan has one drawback viz, should have
to lug about twice the weight of coin and our
pockets and p6ckethuoks would wear out faster
Let me suggest a paIliation OF this nuisance
First-Export our pesos to the Orient
Second-Caunot ali coinage be finer than 800
and yet be hard enough? Sterling silver is Sl6
base metal than is absolutely necessary
Thtrd-Give nickel penny of 20 grains oval
in shape
FGurth-Gfve US three silver coins. viz. cents
of Il grains. cents Of 30 grains. 10 cents Of 50
grains These. If 900 fine, would be vaiuins the
silver at n to /.
Fifth-Give us three gold coins encircled in rim
Quarter dollar 81 grains gold % grains nickeE2,
Half dollar. 12ia grains gold. > grains nic1el-3Lie
Dollar. 25 grains gold. 50 grains nickel-55
have less weight than two dollars Of our present
Silver coinage.
VIII not an enterprising Secretary OF the Treas
ury make specimens Of such coins? ,
Nev-York. Feb. 5. 1873.