OCR Text |
Show i hi: uiiious it 1 1 ids in twin 1,01 II AMI MI.WII. A Ojuhmpuniilmt nika the follon. lu l question, I irst W Imt ratio ov Mwl l Iw ii n gol 1 anlsllter culn prior lo liu hw United h lltiaS hi oul What Is tbo resent riillo lo iwuiitliu colli In a Unlle.1 Htalea, ,j Una! llruln, c lieruiany, id lun , e ln.il third bal la tbo aluo cr ouiicj of troll mnl silver u the above name I I counlricv The coinage, law of 110 J rovljed for Ibe silver dollar, 371) grains nf pure silver, and fur the gold dollar 118.10 grains of i mo gol.1. Thla ratde a rallo of u.iptotliieen In ISH7 the coinage law a weru amende I, lut Hie sliver djl-lat djl-lat remained unchanged, while the gol I eagle was made to contain 22 b.0 grains aa couiprcl with f.7 1 1 II of lure guld In the original act This rnado the rallo one to sixteen, or to be accurate, one to I 08. lu 1MI another amended colnaie latr waa ptased. The ratio Ulween the gold and silver dol. lar was retained, but the metal In sub-al sub-al ly silver colas waa reducud to it ratio of about one to HO). This waa done lu order to irevent lb small silver coins from being ex ported. While the legal rallo of silver to golJ waiiuto 1, gold waa at a premium, anJ disappeared from circulation to ay foreign debts. Alter tbe ratio of 10 to I, tho silver dollar waa at a premium, and was actually worth, In tbe lndon market, 101 centa In gold. The law of 1871 lutir-fared lutir-fared In no way wlih tbe ratio aa far as coinage was concerned, but It demoralized de-moralized silver by omitting to men-Hon men-Hon the silver dollar as one nf the coins to bo made at tl e mini. Tho coinage rallo In the United Mates Is can cf g .1 1 to 1 S.M of sliver, lu tho United Kingdom of Ureal llrltalu And Ireland one to MM, France one lo 18 51 Oerrutny one to H, and India one to IS. Tbo Unite I Htatea, Germany an J flreat IlrlUIn ur gold atandanl countries, Franco Is gold an I silver, an I lu Jin silver alone. The coinage taaa of Ureal Hrllaln makeallvrr a legal lender for sums less than lOslilllluti Tho market prlceof an our ceo! gold In that countr) Is X1.17, 0, butaa all coinage Is now ef. footed Ihrojgh the Hank ofl.nglat,d, the gold bullion Is luicliascd I y thai institution at a rate fixed by hw of 3. 17s and Od per ounce. Of course, Hank of Hnglaud notes are aid for Ibe bullion, and the colnago transactions aroltweeulhe Hank and the mint. A system somewhat similar revalli luUermany, Cloll being the etenjarl the value ierouncu la tho same aa lu England. Hllver being a commodity In tho United Hlalee, Fngleiid and Oerniany, Its prlco per ounce In bullion le about thosauielu all these countries. The lilcolu New Vorkon IhaOth lust, waa S$i cents per ounce. In Prntifi the llmetalllc atanlard prevails, aud jntll 1673 or IH7t free coinage In both metals prevailed. Hut In February, 1S73, theallm domocetl-zallHiUur domocetl-zallHiUur waa pasted 111 the Unite J ritates, aud lu July of tbe samo year a similar law wo i aeanl In (lermany. The vait quant Ilea of alive r thus ue monetized an I thrown on the ruarket compiled Fiance ani Ibe Latin Union of which she Is a member ti revise her coinage laws. Ttjl ahe lid by limiting tha Mines;., of all-ver, all-ver, tut In noway deniorellzlnglt. In 1877 tbe coluageof silver flvr-franc li as In (he Latin Unluii mluta waa entirely suspeuded. In India Hie itamlarl la solely silver, and If there Is nuy gold lu circulation cir-culation there It la at a premium. Owing to Ibe ohutpneia of bullion I u Ho Hiatthe relative value or silver and gold tu lhat couutry gruws wide apart. The trice or sliver bullion there does not vary very much from tbat In New York. The gold standard countries of the world ore tho United Htatea, the United KlngJom, Uenuany, Portugal, the Hcandlnavlau Union, Tutkaj, Australia, Kgypiand Canala. The silver standard countries are Autlro-Huogary, Ituiala, , Mexico, Central American Htatea, and H uth America. Tho tl-raetalllo standard countries am France, Helgliim, Italy, Hw Itzerlaud.tlrci ce, Hpaln.tho Netherlands, Nether-lands, Ja an, Chlni, Cuba aud llaytl. Financiers of national nputu aay that the prlco of silver bullion all uver tbu world nt I resent hovers about 00 cente an ounce, and that He ratio value to gold la about iltol. Where allver passes current at higher prices It la lu tbe form of coin, which asset not for lla Intrinsic value bully virtue or It government stamp. Our dollar la really worth about 70 ctnti; and twenty ehllllnge In Kugllah coin la not worth more that! about fifteen or elxteen. |