, 1877-04-14
from E'fwarll'a Graph.: account ri his expert
cncc4, render his biography exceedingly at

,,,,,., ,,,,,- ~, r,,r
silver, QUESTION.
HOM1sMA; on. LRaAL.Trxnkn. by. HERR
CgnSrartsr. Aut!.or of s'pimetalt!c s1onoy.''
New York: Il. Appleton d To-.
ouc,tlon "a ~ moro imnortancc than t;rcat
t,.,,nf, aaa ~. tIr,,oa sta,o. I, i,o,,, cn,,n.
.', "'t"'" u''. ~ o'"tsu ,..t.'.... ~.
tf1ee' tne aab]eet, oc'n5 o"e ot tcs.a'a.'out naa
su1'0rr1tsy nesn taken rsps. tue
Thc parliamentary Comm,s,Iou wal yuted on
49,. ~ ~ Ht,r,,,, ta-1 nn1 m Intv 4 II h.,1
tac ~ OK .,a'tn, ,, 1n'' a.a "a 'a ~ ~ nae
frny 'or rontontng mu"' "a,tcr,r rsyew hy
tho Committee OF tho situation 1t, all
ia a.1,cct.. md the testimony I'm full
- ~ t ,-itnsssc, nx.mIroI amonr xv,,o.,,
werc sucl, authorities as tho lato Walter
nest acyd: Sir Hector Ilay, the leading silver
broker ot tic world; Mr. q. pie.sch, tho Lon
don financial agent Of the uer,nau t.ovcrnment;
and others almost rs goou. Tho United Staics
Silver Commission, after having bccn tn oxist-
ence nenr1v wear. pvc4 tin n.t!lic onlv TIM mr..
gumcnts of majority and minority rcports on
a.1ercnt SUES .! INC SILVER qHest'ont no En-"
RfEsh public. In the report of tho Par
liamentary Commission, tas tho matcrials
for forming its own optuIon; tho American pub
1tn - tnttn t{s, s>t,,trr rkn
~ y, N.uss 'aAo ~ up""on" 's""' nae' 's, ~
sho:tcoming OIL Congress 's partially Hadc
good by licnrt CcrnuschI, tho wclT-known 1tat.
ian banker of Paris, ~ we'll informed os any ot
I'm ,1tanutnnt. In t,r ,,atiIo ri ttw ston,lnr,..
,.. -. 1t. n.n ~ ut. -,
VINO came a. us own c1pe'se 10 tuls country 10
testify before tho Commission. lie lias gath
cred up In book.fortn t1ln evidence he gave.
,,,,cr rcaa lie n C.rn,s,.1i In f,rtohcr ,as, 1,c.
rAps. .,' ~. ~ -. ~ os. .t.. 's ~, ~
lore .He 1fn!e anu EeohonS sect'o,l ot tnc IN ~
tional Social sclcncc Association Of Great Brit
and thrcc fcttcra IN the silver nue,tton liz Sam
,, ~, a'.,, .o.,',o.,, | ~ sna sr".,,o, rno,,,"u
", ,',n1s' lFe''o'''' VI '"o i''e'p'o' e''a"'oe'
ol Co''mcrre' a.....
brings tu the front tic monetary theory w],tcl,
1tca n tilc hn4o or Crrn,,.rhls. b,mrtnli II
~ >. ~ x,,,.oa =. tan1.,h =, ,,a 1n., ,nt,,.a
is, ns he cxpIahed ~ lchgtn 10 tue Comntttce'
In his viow as true Of rold and oliver as It is OF
papcr uuncy tbat their yalue ia the crcnt,lrc of
law. Tbr foii IN the ,,r,cc nj et1ycr oftcr Tho
.:a.n,,,, I ..n,,n.s.o.o' .", ~ os to. e,pa.a., ~
sllat would follow II the colnnge OF guild and
silver were universally abandoned to mako
,Incc for sn,,,c other money. Tho suncriorIty
=. ,ronc,. nj tbe ,,rc4ou, n, c,n,a rrr nhr. s,l,,
ntahces, itke paper, teS'lnseti attraoates ~ ihe
iaet t1lat the tset5 cahhot ue e'htfp'lcu
" doVernmeat' Whet wc have paper
money We taM never bc sure OF tlfe
quantity to bu lss'lcd; but tlc Issue OF Eald anu
slisef ID sn anioh'at,r, hatural lssne, Which 70
elo eaM rnh!,o.. !ii W. eaniot aTtce Will ~.
CernasS!i ~ i''s siatenaent, y. tha1 AoneE u
Value treated W law;" nnl l.o ean hardly c.
pect t'lat VIZ sl.'i'' e, 90 90 40; Tor few pages
tnrti.sr 10 says. 10 ' tlo most cxp!rit MANNER
TINT nvcfnlllcnt gives no value TO tt'a money.
llln Uovcrs'tne,'t Mlopts monetary unit, ior
instance aoar Weighing ccrtal,, 'iniaber of
cr'i'l1e',t uses not Interfere ~ tletcrmtng tiia
purGl'as1!1I!g 11 powsr,: G.: eltc vnlus-ot ic dol
lar." Ihs saiue Of money. whether Eoid. silver,
or p9pcr, ho n,akes tle',eu1 on its Quantity IN
nfsotl'sr iassage there IL vi, explanation nf the
Inconsistency We 1inva pointed out above.
Tho legislator treaties the vaiuc ot money ~
cloosl.tG-"e elcrsln1,' ns JttstitlhIn says-tlla
material out u which money sla!i oe made;
but, TINT 'iunet tcru Is, IN tl.u sa.e Of metallic
money l!othll.g noru d lor thy doyernu'gnt to
az: lu atslcF wnrds. "ii,o warrA.ieg u thc
vnluc OF metallic 1nnncy Ia, that tiptody Inns
control Of tho quantity" TlEc confusion In
#. ccrnuschi's utterA',ses here is more upparcnt
hHt1 "