LXII ADMINISTEATIVE REPORT [eth. ax.n. 20 



The unit for the nieasureiiient ot" vahies is of gold or silver, 

 one or botli; in the case of both, the ratio is estabhshed. 

 These units of value are eoined in pieces as forms, and the 

 g-overnnieut stamp gives warrant to the correctness of the 

 amount of metal which they contain. If the Go\ernment 

 guarantee also their relative ^•alue, questions of great impor- 

 tance arise, and these create political policies. If the Govern- 

 ment coins only for itself, and purchases the metal which it 

 coins, it matters not what the ratio may be. If it coins at a 

 ratio which is not the market value of the metals, the more 

 valual)le metal at the ratio adopted will give value to the coins 

 of the less valuable metal, and both classes of coins vdW cir- 

 culate at the value established by law. If the mints of the 

 Go^■ernment are free to coin both metals for the ])ublic, and 

 the legal ratio differs from the market ratio, the metal of lesser 

 ratio Aalue onlv will be offered for coinage, and the coins of 

 the metal of greater ratio A'alue will be driven out of circula- 

 tion. Thus, in considering measurement of values many ques- 

 tions arise which are supposed to bear on the prosperity of 

 mankind and especially on the people of a nation. 



But why are statistics collected? • The statistics of popula- 

 tion in the United States are collected as a government func- 

 tion either by the nation or by the state for the ])urpose of 

 fixing the basis of representation. Membership in the national 

 and state councils is apportioned on the basis of population. 

 The statistics of population, therefore, under our form of 

 government, are necessarv, for they are used as a basis for 

 national and state legislation. Scliool districts mu.st have an 

 enumeration of the children of school age who are to be pro- 

 videil wirli sehooling facilities. The counrv must have an 

 enumeration of the persons who require charity that it may 

 provide for their assistance. If the state builds an asylum for 

 the blind, it must have the number of the persons to be enter- 

 tained therein. Statistics are required by all sorts of busi- 

 ness enterprises in order that men may act with intelligence. 

 Thus a life-insurance comj)anv bases its rates of insurance 

 on tal)les of statistics which show the probable a\-erage dura- 

 tion of life from the age at wliicli the insured jjersons sev- 



