12
THE BATTALION.
our treasury and mints. But still worse we must coin it
at the ratio of 16 to 1, which means 16 parts of silver must
be coined to the same value of 1 part of gold. In plain
language, we must give $1.00 for 50 cents worth of silver
presented at our mints.
Of the mining products of the United States which is
only 1-20 part of all the other products, gold and silver
forms only a fractional part. Then a free and unlimited
coinage of silver at the ratio of 16 to 1 would not only
benefit a fractional part of 1-20 of our people, but at the
same time injure an equal number of gold men, as well as
endanger the money system of our country and the good of
all men.
Take even the silver state of Colorado for example.
We find that her silver production is only 1-19 part of all
her other production and could as easily do without free
and unlimited coinage at the ratio of 16 to 1, as Texas can
do without a premium of $10 on every long-horned steer.
But the coinage of silver under this act will not confine it
self to home silver production, but the silver bullion of the
world will be poured into our country to be sold at our
treasury and mints. Nor will the silver sellers take silver
coin as pay for their silver, but as has been the case in the
last 20 years, gold money will be demanded.
In Europe, there are stored in banks and vaults an
amount of silver bullion to the value of $438,000,000. Pass
the free coinage act and it will be poured into our country
to be sold at our mints at a double value, which would be
$876,000,000, $204,323,750 more than we have gold to pay
for it with. The result will be that Rothchilds,. Vander-