Show MB SILVER C gives up all hope for the free coinage of silver at i the ratio of to 1 says it must be 22 to 1 or nothing c the no sliver silver record of the ogdon ogden standard editor endorsed by maraton frewen the father of bimetallism of or tho the world students of the money question all agree with the standard editor and say that tuo the only hope for the next ten years Is with the republican united states senate the following letter we clip from the salt lake tribune it Is written by the right lion ilon INfo moreton reton frewen the 1 englishman who has given years of his life to promote bimetallism and specially ally IG to 1 but now he comes to the front and takes exactly the stand the standard has taken for a year past and also the stand taken by the editor in the campaign last tall fill everybody should read this letter it la is good reading coming from so eminent an authority tho rity and what Is more remarkable the salt lake tribune endorses mr freiens Pr Fr ewens statement and hence the SUn standard dard MR FREWEN ON RATIOS AND EXPANSION 25 chesham place london dee dec 11 is 68 I 1 bd ed tribune As to present developments 1 connected with that question which possesses for you and for me so absorbing an interest I 1 have I 1 tear fear little to write which will be b agreeable reading to any friend of silver your recent elections are regarded here and I 1 I 1 think properly regarded as showing that the tide flowing to so high a water mark in ISK 1896 has ebbed and that the th restoration of stiver silver Is not at present a i question of extreme interest and urgency with your people that is certainly the impression within lord Salis burys cabinet and its effect in influencing the indian currency commission is considerable and unfortunate I 1 think the t influence of those strong commercial witnesses who favor the reopening ot of the indian mints has waned and it Is now the only alternative to tree free coinage in india namely tho the patching up by blow slow process ot of a gold standard and currency which will be recommended to parliament by the commission I 1 do not think we shall get got the deport report itself before may but that unless the report Is influenced by tho the un forseen and unexpected its whole tone and temper will be yellow of that I 1 have now little doubt 1 by the un forseen I 1 refer to some pronouncement from your side what the government of india wants is assistance si stance to maintain a sixteen penny rupee in n other words it wants your country to adopt free coinage cot not at I 1 to 16 but at I 1 to 22 you i remember er that the object objection loa in la calcutta to the 1 wolcott proposals was that I 1 to 1512 15 or i I 1 to ag would raise the exchange value of the indian rupee to 23 pence gold k and that any such high rate of ex change would cripple indias andias ability to export her produce to europe and thus throw the balance of trade against india a debtor nation this view I 1 admit Is sound unless as you and I 1 hold the advance in gold prices here would be fully commensurate with the rise in the rate of exchange 1 I bring myself most reluctantly to consider free coinage at I 1 to 22 but the situation la Is so critical and tho the gold experiment peri ment ot of the government ot of india otherwise inevitable would be so disastrous to us and to you that I 1 think it may be worth while to give it an unprejudiced consideration 1 I imagine that I 1 to 22 is a solution that would attract the support of a great number of so called sound money men who today vote with the administration indeed I 1 do not eee see why a majority in both parties might not accept it as a compromise and thu thus s remove this dangerous question entire ly from the arena of politics then also there Is this to be bald said there would be no need to interfere in anyway with your existing grain silver dollar nor with the coutin continental five franc silver currency these could continue current while all new silver in tho the form of bullion bars could be de posited in the treasury and would be air marked by the notes is issued sued against them any exporter of silver would of course draw the bars with his notes and would export bars instead of dollars these latter not being and und exportable except at a loss 1 I think if free coi connare coln aee nare at I 1 to 22 gave vast relief at a I 1 hold bold it would it prices rose and industry revived then public opinion might fairly be left to declare a few years hence whether I 1 to 22 being so successful the world cot not advance tha ratio to I 1 to 16 1 11 I send you these views for what i hev arc worth the question of an altered ratio la is likely to he presently in nil all mens mouths and while I 1 person nerson aliv should bring to it iwa loss enthusiasm and conviction than to the more honest r ratio of I 1 to wh ar yet I 1 think if it placate those great brethren ignorance and avarice whom we have to fight and it if it Is a better vanta vantage ge ground on which to fight figh t then we had better accept it before worse things befall should this compromise be acceptable at washington and an official witness bring this fact before our commission the 1 to 23 22 compromise solution would no doubt decide the report and the indian mints would reopen if on the other hand the administration refuses free silver even at I 1 to 22 plus the free coinage of silver in india then the friends of silver in america will know the worst and will occupy in 1900 much better fighting ground MORETON MORE TON FREWEN 11 judge goodwin Goodw ln editor ot of the salt lake tribune after endorsing the above says be he does not even see any j hope for 22 to 1 here Is what he said on the above letter regarding ratios supposing that there are 1 million ounces of silver in the world the difference between 16 to I 1 and 22 to I 1 would represent a cutting down of million ounces as compared with the values of 1873 dut but could sliver silver be making grains of sliver silver the unit of values the same as 2322 grains of gold it would not matter so much about the ratio for the worlds standard money would be increased 70 per cent values would increase at once there would be no more money to borrow at 2 per cent property would take on such values valnes that men with money would be glad to invest in it and to improve it there would be a transformation from sea to sea it would bc possible poa sible tor for the united states to establish a common coinage and mintage with all spanish america and all the orient and with that done the trade of those countries would quickly gravitate this way and new york would be the worlds commercial center within twenty years that would not be all silver would be worth 1 per kunoe everywhere and the metals at that ratio being on the same plane under tinder tho the law it the ratios were unequal one or the other would go to a premium and the edicts of trade and commerce would establish what the true ratio should be but B ut we see no present nope hope for this unless the controlling financiers of our eastern cities can be made to bee see it and po so press it upon secretary gage and the president for we take it that the present intention of the administration Is to do nothing but the earning power of money east has along most lines ceased and the steady fall in prices has begun to alarm the interest gatherers as 14 1 een seen by the action of we banks in reducing their interest this might impress the controlling financiers who have had their way with every administration for six and twenty years |