, 1876-12-18
THE DOUBLE STANDARD.


TIE DOUBLE STANDARD.
Opinions of an Eminent Frencl, Authority.
lIta rlnn Of m International Convention
for Making tho Two Metals q Universal
LeGal-TCndcr,
Stlo lork Tribune, Dfe. Is.
NJ Henri Ccrnuscht, who arrived in thin coun.
try OH Saturday In the steamship Britannia, Is
al uutl1or anil politician well known in France,
md l,ls been slnsc 1870 the chief advocate Of q
1oublc-mol,rtary standard In Europe. lie is a
nan Of commanding figure, wears long, full
beard, and LIS fago ID expressive OF culture and
Intelligence. lie has come to this country prf-
narIiy to advance his economical views Oil tho
silvor question, hut flc has also received an in-
vitatto from Senator Jones, Of Nevada, to ap-
pear before the Sllvor Commission and give Ills
Testimony in regard to tho rclattyc values Ut
Goltt anil ef'vcr rs monetary standard.
"in rcpls to this tMvitatso.l," sad NJ. Ger
1,u.chi To rcrorter Of tho Tribune last evening,
~ aent worl tint would come over myself ut
my own c1pcnsc and give testimony before the
Commission. Owing IN tho Presidential CONF
plleatio's, OF course, the Commission Is not
actively ct WORK Ut present; but | Intend to 60
to Washington III "a few days a,ii mako the 1lcc
cssary arrai,geuaens to piace my vfows before
the Commission. The question, interests mo
greatly, as have given time and lalor to tho
subject for several years The great event Of
In 1870 against silver. That Law really means,
more tinsl dcmonetizing silver; 1t atnls to s,,l,-
stitutc gold exclusively for silver. This Inv Inns
stopped thc old demand for silver, and at the
coined In Germany. This Inv is tho sole cause
OF the fall in tho value Of silver bullion. Before
tho passage Of this important law England whsa d
mono-t,cinlsc gold country, France bE-mctallic
nctallic silver country. It will be seen at o,lcc
that France with It's lawa allowing the coinaEcot
both gold mud silver Of legal tondcr held, a. 1t
we're the ! Dalance q f. power as to the valao Of
factured was Of silver, aud against ler owtl il,
tcrcst nnd out OF spite against France perhaps,
she enacted law dcmonettzfng silver. Shu
6ces her error today, though her statesmen do
declare that SLY has made an irreparablc mis-
take. 1t WIS, In fact, q prosecution on the part
Of Germany against oil silver IN order to force
France md other European States not to coin
no silver coin Is being made anywhere IN Europe.
In England they had q long Investigation 10
find out the cause Of this depreciation Of
silyer, which was attributed to tic oYcr-prUt1uc-
'iu lud!a. It would have l,een better for them
had they studied tho effects produced by thu
German Law, as tho depreciation was only the
result Of TINT Inv. When people, nll Of whose
elect is suicidal; aud other European nations,
In order to Baye themselves scclng their own
silver lcprccating In consequence II that law
IN German markctS, could DO no less than fol-
low her example und thus savo their own val
ues."
To, tho reporters inquiry as to what he pur-
posed submitting to tho Monetary COM
mission ot the United States. N. Cernu-
seht enid: II intend to press this idea:
specie payments, ntlst give tho silver dollar tho
same yulilc the guild dollar then accept silver
at the csistotn'Lous.s, aud Big able 70 pay tl!cir
European bondoldcra IN silver dollars. For
the adoption Of tl!1s plum, however, first Of
become bl-metalEic. Without this European,
creditors receiving silver dollars iuconvertiblu
into Europcn,i money would undergo serious
is an obstacle to thu resumption Of specIe pay
1nents In the United States, and they laVe
stu such difficulties to overcome in
or'cr to cmaMrlpnto themselves from
metallic direction Of tic financial world As
regards tile South American States, 1t is evident
TINT they will am unallo either to pay their
disc u the silver yielded by their 1nucs is not
legal tender IN tic Old World. Pcrnicious III
Europe. in Asia, in America, tho monu-1nctalllc
sclicinn Inns produced and catl produce nothing
thu nstgation Of the United statcs Of
America I'LL international convention be
held, that everywhere gold and silver
ho coined rs legal-tender under condition
that sllo ratio bctwecn tho weight q gold and
there will be no moro trading In gold and silver
between the various Countries. For you Amcri-
cans" continued Mr.. Ccrlusehi, Hto got out of
YOUR papor-moneY System there is only one way
1873 you have coined trade lolfarn to compete In
Asia with tho Mexican dollar. You havc aiso
coined half.lolars, worth exactly the l.alf OF u
flyc-frauc piece I'll order to increase the eircula-
tim n{ TINT Ft}tn in