The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1920-05-13
Thursday May 10, 1920.
NATIONS SHOULD AGREE TO RE-
MONETIZE SILVER.

Way back in the '9Os when the free
and unlimited coinage of silver at the
ratio of l6 to j was the burning issue
the opponents of this advanced ster
in favor of the white metal contended
that this country alone could not
maintain the parity of silver and gold
on that basis for the reason that the
United States would become the
dumping ground for the silver Of the
world THAT the only way in which sill
yer could be restored as standard
money metal was by agreement among
the leading nations of the world. 1t
was on this issue that the presidential
campaign was fought in 1896, when
Bryan was nominated for president by
the democrats as the champion of the
free and unlimited coinage of silver
and Mckinley WAS the republican cam
didate running on a so-called gold
standard platform As recalled now.
the plank in the republican platform
declaring for dhe maintenance of the
gold standard had "a qualifying clause
which favored the double standard If
1T could be accomplished through in
ternational agreement under which
the leading nations of the world would
adopt silver as a basic money metal at
a fixed ratio with gold. Dhe great OBJ
stacle in the way of securing such an
agreement at that time was the posi-
ton of England. which controlled the
gold supply while her colonies or de
Tendencies. notably India was the
largest user of silver, position which
made it more profitable to England to
maintain the gold standard and retain
silver in it's degraded position as
money metal.
The situation is very much changed
today While England through her
vast possessions is stim the greatest
producer of gold, the United States is
the dominant financial nation of the
world England as well as every 9TH
er European nation is struggling un-
der a mountain of debt payable i'm
gold while the continent is flooded
with deprecated paper currency Tine
high costs of mining have to a great
extent made the mining of gold I'M
profitable at the present standard of
value. a condition which lit is hoped
to partially overcome by the payment
Of bonus on gold production But if F..
this plan is adopted it will accom- /
Dlish little toward relieving the world .
demand for metal money 1t would .
seem, therefore that this is the oppor-
tune time to take up the proposition
20 restore silver to it's place as a mon
~ metal through international agree
nent The world is clamoring for sill
,er. and it has been demonstrated by
he most reliable statistics that am
,velproduction of the metal. based
ipon present demands, is "a physical
This eliminates the for
ner argument THAT the Increased pro-
uction of silver due to its remoneh-
alton would make il impossible TO
Maintain tits parity with gold and that
he cheaper metal would drive the
carer. gold, out of circulation. As a [
natter Of fact. gold is out of circula-
on now 80 effectively that the APP
earance Of a yellow coin is "a curios-
IF the advocates of an international c
greement as a means of restoring 20
liver to tits place as a. money metal N
ere sincere. the time has now arrived d
hen they can prove their good faith. c,
ne supply Of gold is insignificant in
impaired with the vast obligations q.
yable in gold. The adoption Of sill p.
r as a standard money Of ultimate pl
at a fixed ratio with gold pi
,uld in a great measure restore con- In
ence and at once become a stabiliz- th
3 influence in the financial systems gr
the world. The commanding posi- Sc
n Of the United States among the ma
lions Of the earth insures that an pa
.ernationai agreement for the re- m,
MEDITATION Of silver could be accom- pr
shed if this country would take the tn
d in bringing it about. In all hui mp
IN probability the republican party he