Taking the figures used by COIN in the Fifth Chap- ter, we find that the actual ratio between the two metals is i to 15^4.
The following is the calculation :
��THE RATIO.
��No. cubic feet gold in the world,
9796
No. ounces in a cubic foot gold, 19258
78368 48980 19592 88164 9796
��188651368
��No. cubic feet silver in the world,
282085
No. ounces in a cubic foot silver, 10474
��1128340
1974595 1128340 282085
��2954558290 188651368
1068044610
943256840 124787770 188651368
��= 2 A
��The ratio of the two metals as they exist in the world available for money is i to 15%.
By making gold the only primary money, the natural result is to depress the commercial value of silver ; this depression now marks a commercial ratio between the two metals of i to 33 ; sooner or later, on account of the large gold interest-bearing debt in this country, money will be concentrated in the money centers ; values of all property will be further depressed, until the commer- cial ratio between gold and silver can be expected to go to I to 40 or more.
�� �
