Actually you've got that backwards. If you needed a 16:1 slope to clear it, it would mean climb 1 foot for every 16 feet across the ground. In other words, the first number is the distance you travel forward, and the second number is the distance you travel UP.
Most climb gradients that I've seen, though are not given in simple ratios like that. Most of the time they are given in feet per nautical mile. When they are given in feet per nautical mile it means you climb that many feet for every nautical mile forward that you travel. (So if you are keeping track, that means that when the climb gradient is expressed as ft/NM it is expressed in the opposite order as when it is expressed as a ratio).
For example: 152'/NM means 152 feet UP for every nautical mile forward, but 40:1 means 1 foot up for every forty feet foward. Incidently, these two climb gradients are exactly the same. Try the math yourself. 6080' (1NM)/152'= 40!
Going back to the example that started this whole conversation, 16:1 is the same as a 380'/NM climb gradient.