The daily gazette., 1877-09-07
. THE DOUBLE STANDARD =
From the Philadelphia Press. ig4

At the meeting of the Social Scienc q
Association, held at Saratoga We ;terday. a
pauer on the silver question was read bv
Professor w. Stanley Jevous, Of Eugland,
which strongly fayors an exclusive gold
standard. Englishmen are more strongly
welded to that system thau the financlers
aud statesman OF any olher na.ionality. and
Great Britain is tue ooly powerful country
that has ever snccseded in establishing an
exclusive gold standard. Her partiaiity for
lt may perhaps be explained partly by he
fact that ste holds enormous Obligations
against nearly all other PORTIONS OF the civ
iliged void, which would be enhanced ia
value by the general acceptance of her doc.
trlnes, and partly by the fact that the vast
Possessions Include several great gold-bear>
ing districts, and few or no regions that
abound IN silver mines. The political con-
mlsts OF England have SO often displayed
marvellous Ingenuity in iuventing general
doctrines that nave a special Adaptation to
B'ltlsl interests that they would not be
u ue to heir antscedents if they failed now
to devise theories on one OF the leading
financial topics of the day that facilitate the
'avorlte national task OF increasing the
wealth OF their rich little island and impov-
eiishing other countries. ,j5..tf {.
conceal, in his ADDRESS yesterday, the fact
that tue handspring of his deshe that tile
United States should establish gold stand
ard was the belief that such action would
be advantageous to Great Britain. He al,
legged, for Instance, tnat ''gold Is really only
needed for international transactions !" he
fivored coi0age that would make our five-
dollar piece "the exact equivalent OF the
pound sterling" and he kindly warned as
that if we used silver dollars to pay our
debts "such q measure would verge closely
upon breach of faith, for the charge would
be made on the ground that silver is depre-
ciated. Add il, as is probable, the bi-meta'-
lie system would not restore silver to It's
original value, then creditors will plainly
lose, to the advantage OF debors." Cons
elusive answers have repeatedly been given
to these transparent sophistries. The fact
OF greatest impoi tance to the United States
iu connection with this discussion is that il
both silver aud gold can be rendered freely
available for the gigantic task of resump-
tion, the depression aud depreciation of
values which has been progressing for some
time past 10 this country will be checked or
materially lessened. II will be certainly be
easier to pay debts in coins of Two metals
existing aud produced here in about equal
quantities than in single one of tuese
metals and this single consideration will
induce our statesmen to adopt some sys-
TEN for utilizing silver in conjunction with
gold as the basis of the specie payment con-
templatsd bv the resumption act. Tue
pas age of resolution 10y the Republican
State Convention of Pennsylvania yesterday
IN favor of the remon etization of silver Is
only one of Numerous evidences of the
overwhelming tide of public sentiment that
now f4vors the restoration of the double
standard as measure imperatigely demand
ed by many of the industries OF this country,
and by regard for the financial welfare Of
the American people.