Step 1: Understand the question.
Two gases have densities in the ratio $1:16$ and exert equal pressures. We find the ratio of their root mean square (rms) speeds.
Step 2: Recall the pressure-density relation.
From kinetic theory, the pressure of a gas is \[ P = \frac{1}{3}\rho\,v_{rms}^2, \] where $\rho$ is density and $v_{rms}$ is the rms speed.
Step 3: Solve for the rms speed.
Rearranging, \[ v_{rms} = \sqrt{\frac{3P}{\rho}}. \] So at equal pressure, $v_{rms}$ is inversely proportional to the square root of density.
Step 4: Write the ratio.
\[ \frac{v_1}{v_2} = \sqrt{\frac{\rho_2}{\rho_1}}. \]
Step 5: Put in the density ratio.
Here $\frac{\rho_1}{\rho_2} = \frac{1}{16}$, so $\frac{\rho_2}{\rho_1} = 16$. Then \[ \frac{v_1}{v_2} = \sqrt{16} = 4. \]
Step 6: State the answer.
The ratio of rms speeds is $4:1$. \[ \boxed{v_1 : v_2 = 4 : 1} \]