The Findlay Jeffersonian. [volume] (Findlay, Hancock County, Ohio) 1870-1881, 1877-09-21

lhR Ol taSJ NeSh- 1Ht heetlBS WIS
held in Opera Hall. and was large and
enthusiastic we give that portion of
his speech which was devoted TO the
OF silver, and invite
candid perusal:
RECONCILIATION.
Whether silver shall be remonetiZed
and on what terms have become ques-
tious OF paramount Importance to the
country. il view of the approaching
resumption of specie payments. | am
decidedly Ia favor of complete remOn
etization, and of the coinage of the
silver dollar. containing. rs it has done
since 1872. 374 grains of pure sill
We, This subject has ben discussed
by many learned writers. philosophers,
bauksrs,poIiticiaIs, and orators of this
and other cor 1triPs. Il is of National
and International importance. 1t AT
fects the convenience of exchange be
tween different countries, and the re-
iation between debtors ard creditors.
whether individual or National. H.
reading any author upon this subject
it is necessary to observe the stand
point of interest from which he writes,
and the interest Of the country to
which he belongs.
Mr. Ernest Seyd, in his recent work
on ''The Fall in tie Price of Silver.
makes &. distinction between nations
shat are internationally rich and those
that are internationally poor, by which
h-
which are indebted to other nations
or 20 the people OF other nations. how
ever rich in their possessions, are in-
ternationaliy poor, and, on the con
trarv. that those whose Indebtedness i
beIl at home, and the people of which
also hold the Indebtedness of the Gov
ernment and people of other nations,
are internationally rich. England.
Germany, France. Holland. Switzer
land, with, perhaps, Denmark and
Sweden, are creditors. Austria, Rus
sia, Italy. the United States, the Brit
ish Colonies, Spain, Portugal, Turkey,
with, perhaps, the South American
Republics, are debtors. England aud
Germany may, perhaps, be regarded
as the largest creditors. The United
States may, perhaps, be regarded as
the largest debto-. Her bonds and
the Indebtedness of her people are held
in vast amounts in England and Ger
manr. England holds more than five
thousand millions of foreign securities,
Germany more than twenty seven hun
dred millions, and France more than
twenty five hundred millions, making
an aggregate OF more than ten thous
and millions, of which England aid
Germany have more than eight thous
and millions. When we realize thai
the value taken from siIve' is added
to gold, we can comprehend the para
mount interest of the criditor nations.
at the present time, in regard to the
single and double standard.
Whatever enhances the value of
the medium in which these foreign Sc
curities are to be paid, increases the
value OF the bonds, or other forms OF
credit in the hands of the creditor, and
adds 10 the burden OF the obligation Oh
the part of the debtor. The same dis
tinction exists between the interest Of
tie individual creditor and debtor al
home. The differences and opposing
interests are never. 10 be lost sight OF
in the discussion OF the currency which
is to pay our debts at home, as well a.
our debts abroad.
| have said that the ideas OF the
value OF property depended upon the
quantity of the precious metals. Sill
yer has contributed as much TO the
standard of values as gold. 1t has con
trlbuted TO the worlds stock OF coin
nearly one half. For large part OF
the history of the world more than one
half and at the present time 1t does
not fan far below il. Although amucb
larger amout of silver is used in the
arts, vet when we take into considera
tion the vast populations OF Asia, VINO
use silver as their only currency, and
the several countries of Europe and
South America that use silver as their
only standard. or the double standard
of silver and gold, and the estimated
amounts of silver coin existing In those
countries, it is clear that in the aggre
gate silver contributes nearly one half
of the currency in circulation at the
present time The population of the
countries which have the silver stand
ard alone is much greater than those
that have the gold standard alone, and,
in fact, greater than both those that
have the gold standard alone, and
those that have the double standard !;