Show COIN AND commercial VALUES I 1 A correspondent having asked the times II herald arald if there la jis any evidence that when fold and silver have been coined at a specific ratio say IS to 1 that they havo have both boon been kept la in circulation cu that paper replies at length its points aro are in the I 1 he follow inar tho the concurrent circulation of raid cold end and silver liver coins at a ratio never i af maintained and nr existed baia aavo temporarily tempora rHy and accidentally in any commercial country if tho the dis disparity purity in the commercial value of the metals was wa a an amal 1 cpr or cent the iha cheaper ba r metal ren naMed hi circulation circular Is lit 0 ahe t dearer lin ion vlas as upu chud as bull ion on wherever tire tho standard etan dard has haa been double tho the circulation wati was no not t concurs concurrent nl but alternate being first arat ono und and then atu n tile tho other in accord anco with aitla the value commerce placed upon the metals our brur first coinage laws awa were adopted by Congre corrrea Conr rea qa in ayi upon thi the report of alexander Il hamilton amilton then secrete secretary of tho the treasury Tr Laury to took ok lliel utmost ulmont pains an am tho the report aboda to a certain ascertain a the iho commercial ratio between silver anti and kold gold and ho he arrived at the iho conclusion that it was 13 15 to 1 in ili this conclusion jefferson concurred anti and it became tho law hut but it proved erroneous because it undervalued d sold irold to a small extent and iho result lias sm that gold was exported as ail buitron it may be said alo in ili pa paring panning ring that our silver coins did not C fiber either for tho the reason leason that congress tied had road mado melcan tieI deRn and spanish american oil or cr coins leal izal ten lenjer jer and these being inferior to lo our own in value drove thern out of circulation thus thua aror i rom it when our nent wan waa first established to 10 wa whan our coin aco ace laws lawa were re e toed there was very little of american anit kricun gold cold or stiver silver coins coin in circulation duranl this period wo we were on the silver baan in as aiza and in ivd congress Con cress altered tile ratio from I 1 afi in to I 1 to 10 lii lb to I 1 and this resulted in the iho of allver hat la Is am borican silver front from tho the chiev aaion it was more valuable as bullion than as money anil and of colima wkho P 0 it used it lit in lla its most moat valuable ablo shape t I 1 0 ased gold camo came into circulation and from that time lime lias hils been tho the money of a 0 u tho the history of at 1 er nations in 1 hect this h arit respect la is tire tho same an aa our own and wo challenge any or ali to show thol that gold cold and coins ever in any country at a axed ratio for any ten loncia ang of I 1 elmo at or when there was he ti en ilia legal ratio slid and tire commercial ratio the abone so far as it goes chey Is 19 true but it Is li only holt half the truth lla dUic times herald desired to be perfectly as fair r it gouid d have stated these facts first prom early in the century to 1873 1673 the commercial value of silver was fixed by the coin value established by law among the notion nations of continental europe IN here gold and silver circus circulated at without friction together second through years up ill to VIGO the united states produced no silver all it obtained was by trade and our country was wa too poor to affect ilia r european standard ali lid the ne reason that between 1792 1752 an aal 1 1831 silver at 13 23 to I 1 was more valuable than gold way was because continental eutoko had fixed we ali 0 ratio for coinage at to I 1 and tho coinage value mado made the tha comm commercial erdal value for the une same B reason after silver va as worth more than gold in this lulu country had tho law of 0 ISM isil fixed the ilia ratio at wy to 1 there v mould have been perfect harmony our own oun money slid and that of europe and the two metals would havo hava circulated side by everywhere I 1 it A mill ill be seen by this that what the times gierald decks to convey that regardless of coinage laws thero there was a 0 commercial value which A bloh all the time established tile real worth of 0 silver oliver la Is a shameful Bhame ful fallacy the col coinage ilage value of europa having lined fixed ilia coin value As aa to the final challenge of 0 the timen it la Is to tay guy that the two metals circulated side aldo by aldu aldo ia Iuro ifo without friction except that the iho exchange rose and felt fell put AJ the wco haKe of 0 gold now bislis or tolls falls at the iho dictation of 0 inome power like the bank 0 of england Engl aiKI cna and it is i absolutely true that the only com cam value which silver had for years prior to 1873 was waa ilia hie coinage value established for it II ity by lio oglala ilan alon ot of the nations of and alch supplied tor for it an unlimited demand it at a certain price |