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Show MORE HARD MONEY A. P. Runistedt, president of the Wallace (Idaho' Board of Trade, recently drafted a resolution on silver which said in part: "The only practical and safe monetary policy is more hard money under our crumbling; credit structure, and silver is the only suitable suit-able metal available. Government purchse of domestic silver at 64 Vo cents will not suffice. We must have free silver coinage at definite ratio to gold to-provide stable currency and improve commercial com-mercial relations with foreign silver-using people." The price of silver or any other secondary monev metal-means metal-means nothing except when related to the price of gold. That's Why 6412-cent silver is actually cheaper, with gold at $33.00 an ounce, than 50-cent silver was when gold was stabilized at $22.00. A great many economists fear that silver stabilization will do little to solve the problems it is intended to solve unless its relationship rela-tionship with gold is firmly fixed. As a money, silver has unique advantages. Tt is second only to gold in esteem and it has been used as a token of value for centuries. It has a phychological appeal that comes from custom. And it is the sole money metal of half the world's population. Those wlio propose to fix a gold-silver ratio deserve a very attentive atten-tive hearing. |