The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-28

before IN 0ther nations
h is true that there ere some who maintain that
gold ahould be made the standard These persons
led by accessory and minor considerations 70 which
icy sacrifice the chief principal reason Tho reason
they assign IA this, vx-:-tha& sum Of money Of .
large amount 10 more portable in gold than It b IN
silver. That is quite true. But making silver the
STANDARD does not prevent awaiting ourselves Of
shis convenient quality Of gold. The essential re-
quisite in q standard IL that 1t ought 70 DO that
metal the value OF which is best fixed and settled
zach 10 silver N1e
his the fxity Of value which makes gold and sill
ver the preferable metals for money. This fxity is
mot absolute it ID only relative. From time to time
4 happens that the production Of the precious me-
tails undergoes variations which Attest their value in
relation 70 other objects Of merchandise But such
~ Is, their hty Of value is greater than that OF
any other product OF human industry. IL IS because
q this greater 6xity OF value that men spulate TO
be pnd in gold or silver; for then they know
pretty near how much power or wealth they VIII
Doeaes at any distance OF time, at least within their
awn probable existence. When, fftythree years ago,
France established her present monetary system,
and forty years az, England settled hers, 1t is
probable that gold and silver were ct par compared
with each other The subject, however, was in dis
quite, and thirteen years after the two countries
Axed upon different standards of value. But fresh
facs have arisen since those times. California and
I'd fall in the value Of gold, which may continue
70 be the case for fifteen twenty years TO come.
In these circumstances, gold 10 deprived OF its supe
s,oI advantage !, - 2 standard, viz: Of its
for himself an annual rent of kiogrsmme
Of gold tabout 444 fraDcs) he could not tell how
many hsctoisres of wheat he would be able 70 pro-
cure with this sum at the end OF ten years. One
thing is certainly would be less than he could buy
to-day But, on the other hand, if o man had an
income of 6t'een and half kilogrammes of silver
(Which for the last fifty years has been equal to
kiogramme Of gold), we have every reason to BE-
heve that in ten years TO come he will be able to
bay with his silver the same quantity Of wheat
which he can nov. From these considerations it
would be well, perhaps, for England and those other
countries which have taken gold for the standard.
70 reflect whether it would not be better to change
their system and adopt silver instead of gold.
In this summary review OF the action OF the Mo
notary Convention Of Vienna, we have passed over
10 silence various measures of MINOR detaii What
we have considered affords sufficient ground FOR the
following CONCLUSION, viz: that the new system of
coinage now inauguraset In Germany 10 remark.
xble progress In comparison with the past, but as
far IS We can Judge FROM the report published in
the Montteur, Il is not alto3 ether quite great
progress we bad reas IN 70 hope for from such
bgbteDed people, in the matter Of facilitating in
rercourse between nations, and Of simplifying com
merciA accounts and bookkeeping.
Ths French Government and ats All to Rail-
ways.
lrrom tue Lond'n Goat. Dec.
n. Ronher, the French Minister for Public Works,
Commerce and Agriculture, has addressed 10 toe
Emperor areport on what has been ooDe in always
up to the present time, and on what is needed for
Me current year. 1t closes by recommen ling the
Tor 1887. This is DO less SUN than fS $50 900. IL
may sound small when compared with the giganti,
capitals Of cur great railway companies, but "
great sign OF health and activity that consider.-
bic an amount should he considered dsposaple in
works OF this nature under the existing circum-
stances of France.
There il wide difference between the effect and
the power OF our insular railways and the great
tineBtal lines OF Fran se-nes which ooen the routes
20 the Mediterranean and the Adriatic on the one
slde, and TO he Baltic on the other. man may
go now by railway five hundred and fourteen miles
bom Paris 10 harseilles; or he may reach Lucerne
and 60 thence across the most beauti ul country in
the world 10 Venice he may pass entirely by rail
through Frankfort, Berlin, and Pomerania 10 Dant-
&c. or he may visit Warsaw or Cracov. With all
these places, and by her grea. line 10 Bordeaux with
abe Pyrenees, Paris Is now in dire:t railway com.
munication There can be no doubt thar this vast
mass OF money laid down ia iren and expended in
steam is one of the great signs of the prosperity Of
country. The progress Of rail wav works OF real
utility is az one the symptom Of health and tie
source Of yigor. The rapid communication be-
tween towns that few years since scarcely knew Of
one anotbers existence-the quick interchange of
ideas between men, foreigners BY natural position
are the great civilZefs OF the world. Tnose who
can command The lines where the quick pulse Of the
steam engine coins gold on the iron rail do most in
the advancement OF their age. In England we have
business, commerce, important manufactures. vast
expectations, all packed closely within the limits OF
cur island. Rapidty OF transit is everything TO
We are uslpg our utmost energy aud strength 10 be
ops available before al others, by the speed with
which we turn them out. Our lines. Il is true, COM
mand great routes Of continental travel, bit they
are The chan nes by which We reach every corner OF
The globe. Ii is wonder ther efore that for years
past the face OF our country has been covered liz
every available quarter with network Of iron
that the scream OF tine railway whistle Is heard in
places which would have been pronounced i'm practi-
cable Of old-that the sea Is bridged over by the
wonderful tube which the genius Of ephenson in
vented for its purpoec.
eVgty a.
knows what IL will do, and sces how II is TO be done
very little was Effected In commanding the great
hoes which II possesses In February, lS4S, the
extent Of line worked was $50 Kilometres or abou,
,l55 miles. IL remained stationary during the time
Of trouble daring the three years OF doubt of mis-
giving, Of agitation which succeeded that date
Enterprise slept, and money was grasped tightly by
all who could command 1t, when no one knew Tor q
day what Il government Of France would be on
the next. Commerce was parnlysed. From 1852
III 1864 very different state OF things arose. At
TIE end Of 1854 the line worked had increased TO
1905 miles. In the course Of 1855 the great trunk
line from Paris 10 Marseiles was completed. thus
opening 20 the capital rapid road for the commerce
OF the Mediterranean. We lea. n further from the
fefort tina he extent Of line remaining to be
npisbed at the opening OF the coming year viii be
only 1850 Kilometres out Of ii $50, about 2,9G5
miles out OF 1000 in progress.
IL is curious 20 observe how nstan ~ and how Ger
tany the Improvement in the govern nent OF France
acted the investment Of money in railway works.
From ls46 t. 1856 the annual ouslays Of the conpa
mes were two millions sterling-the contributions
Of the state 70 their aid we're three millions. From
1852 the annual expenditure by companies rose 10
eghs millions SIX hundred ana forty thousand
pour ds--the government aid fell 10 the yearly
rate Of six hundred and eighty Thousand. Sucn
has been the effect on the private enterprise Of
France Of the empire Of Napoleon Ill., II il an ef
feet AT which England may well rejoice, not merely
In the spirit of generous friendship at the prosoe-
rty OF noble ally bat also In mere seIdsu salts
faction a. state OF things 20 important 70 her
interests. TO zee France confirmed In her sue cess
trusting In her g0vernment-beudng her energies
and taxing her resources - the deveopement OF her
internal works-occupied with makag herself a
firm and stable Power, should be the first wish OF
every Englishnan Itls Of the greatest consequence
70 our commerce, - our comfort, to our peace
and security that France should have hand 70 rule
and 70 guide her in whose movements sne ca1
thoroughly trust. How strongly this lie nov tho
case cannot be better shown than in the immense
spring which the energies Of France have gwen
In the last fey years New life has been