The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1876-08-11
The Silver Question i'm Germany
Important Official Statement.
From the London Times money article, July Is !

IRON the London Times money article. July Is
The subjoin ed letter from the manager
of the London agency OF the Deutsche
Bank, which has been written, AS stated,
at the special request and by authority
of the German government. says the
New \ ork Bulletin, contradicts certain
statements which have appeared Of late
with reference to the silver question.
IL ought To do good deal towards
lallaying the panic now prevailing in the
silver market:
No. 80 OLD BROAD STREET, L. G.
LONDON, July Is. Sir: Various Lond-
on lapers having in recent articles on
the silver question intimated that large
quantities OF The metal would or might
De put on the market by Germany, |
herewith take the liberty of addressing
YOU few lines on the subject:
In one paper the stock OF German
silver has been alluded 10 rs consisting
of many millions sterling: in another ii
has been stated that ihe German govern
ment intended 10 put ever SO many
hundred tons on the market every month,
while the English correspondent OF some
Frankfort paper has asserted that the
German government had attempted.
without success, to force sales in London
at the recent reduced prices.
AS representative OF the institution
Through whose medium the German
sales in London and The East have been
effected UP 10 the present time. aud at
the special request and by the authority
i0f the German government, ] hereby
beg to contradict la tile most formal
manner the foregoing statement ~ be-
ling altogether erroneous, imaginary and
contrary TO the facts Of the case.
"lhe sales which have taken place
represent, on an average. two or three
millions sterling per annum only. which
Is the best proof Of the moderation with
which they have been accomplished.
No exaggerated amounts have ever been
forced on the market: on the contrary .
/ The government has proceeded with so
much discretion in the matter that much
iess has been realized than might have
been done II The sales hat been pressed
with more persistence.
Far from attempting sales at the
ircccni very low quotations, large offers
at these RACES from wuuld-bc buyers
lhave been refused. the government see
ling no necessity Tor submitting 10 panic
lrricce.
"Now nuca silver Germany may
have a. scll cvrntn.i.y "a not be known
lbci0re tho Withdrawal of the ihalcr
lcurrency is terminated. The estimates
wary from 70 20 millions sterling, or
.lmore. according TO the report OF the
lselec, committee Of the house Of com.
,imcns, appointed 10 investigate the sub
{, ject, before whom, when giving my
evidence, stated the reason why | am
! convinced that the lowest amount i.
likely TO prove nearest tie mark tc
| which l may now add that the mos
competent heads of departments nj tn,
: imperial chancellery in Berlin esiima,,
. the eventual surplus as ~ million,
1 sterling, or even less, ii, as is quite pos
Q sible, the new silver coinage should b,
: Issued TO larger extent than los pei
J head Of the population, the amount
. originally fixed.
Q "The present available stock of Ger
!. man silver does not exceed 100000 {,
1 100000, and is not likely at any tim,
to accumulate excessively, as the ole
e silver coinage is being retired but yer,
: slowly.
|, liam. sir, yeur obedient servant.
l (for the Dcutschc Bank UBerlin, Londo,
2 agency,) C. PIETSCHE, Manager.