, 1876-07-10
THE SILVER QUESTION,

It Is apparent Tint Tho controversy over
tho valua Of silver md Its future condition rs
a medium Of exchange ia becoming more
complicated evory day. Tho price Of bullion
continues to fall, and 1t wss quoted The other
day In London at II pence, which Is II pence
less than tho average prics for over twenty
ono years preriously. Germany goes on with
the. work Of decentralization, getting rid Of
Its old silver coina as rapidly as possible.
England only buys for uso in its Indian and
Chiuesa trade, but the quotations for this
trado aro SO uncertain TINT tho London 1in,es
recently said there wore really no quotations
Of silver at nil. France, Belgium, switzer-
land, 1taly, md Greece ARC bound, by con
tract known as the Latin Union, to maintain
tho same money, mud this contract lasts till
1880. Il 1t wero not for this, Switzorland
certainly, and France probably, would have
ndoptod tho single gold standard.
Aa 1t Is, Switzerland last year did
not coin its full quota OF silver, aud the
Fronch Soaato has just adopted bill, pre-
pared by tho distinguished political ocono-
1nist LEON sA1, authorizing tho Government
to limit or suspend tie coinage Of silver
5-frano pieces This is really holding tho
demonotization Of silver in abeyancc. Mean
while tho amount of silver coin put out by
tho United States Government in exchange
for fractionals il so small as to havo had no
effect on the downward tendency Of the Bill
vor bullion, while tho ulinou turn 1t out rs
rapidIy as ever; and tho result is tho price
continues to decline.
low long thus depreciation Will continue,
and whore it will stop, are questions which
nuzz1o alika tbosn who fnvor tfo domonetf1o.
a., - .:,.,o...,,a .l,.,. 81, =. ls :.
W., y, sa''t ao 'No1u "Ao aos'te " nH'e ~
uaao le8n teaue1' IAoso nuctu1tlons IN
silver arc not exceptional. The Pal 1E0U
nointa ont that mn ouncn Of s|vcr Mt tha ar.
...,,., ~ -, ,..,.,.- ..,...,a L. .,...
eceeioH " 441AAAnA4u "ooAo poS "Iuob' u
much os TWO ouncos IN tho tlmo OF EDWARD
ILL.,; yet at tho accession Of CuAnLEs I. the
nurchnsn1 mower of silver waa only nhout
a,o .th;r3 ,vlnt I, ,v,. In. F,,,,,,,,,,;, .in,o
~. s..'., "A1"s w. 49, '@"'o'
1Ao 61'ne JOURNAL coAt1uueS
In the SIitlalo Ages ono ounce OF gold exchanged
for ten Of et.yor In 100, when tho unttcd Statcs
adopted the dollar coinagc, they axcd tho propor-
tiou ut ono to ftftccn In othcr words the silver
dollar wa to wc'gh much ~ 6ftccn gold dollars
ny thta act, aIlyer was oycsynlucd, and, Accord
ten, tho Minister, GAuptN, axed the proportion ut
one to afteon and hast: oAup,x undo'saluea a.
Aa..oS osetsa'ae sos' ann 'ae @ consequences
ycr I in tbe open market and a. bullion would h not no,
buy ono aollar's weight Of gold. but when coined
itwopld- Consequently 1t was profitable to every
pessoa VINO haa n!ves 70 &C.. II coined. Further
INV ,an.~ tn nav !. n ,Iycr }of ,ss .,ye,
for moro ilan II was inttinstcaiy worth, silver.
therefore, waa alone rent to the mint, and silver
only passed from hand 70 hand. What became Of
tns Go.q a xas as 'snaas ust syet "as,
lem, Either rold or silver. thsscfora. would js.
chargc drbts to any amount. mt to pay gold
would ps to incur los'. Consequently It
a.saPpss.ea 'fom ...aS .no =. american s' e,.eu!a.
slso sdonsed b.meta1ssm. bnt a, sho
undcrvalued silver It would haye been q 1oss to
send II 10 tho mint. Accordingly. silver was CT.
p0ttGA from FRANCO 10 lilo Qhltcd 6sAte4 IN return