The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1877-02-02
TIE SILVER PERPLEXITY

EIlO0ys x0O4 uaI -, AOsd'
THE SILVER PERPLExITY.
Just now there is great deal Of dis
cussion over tbs troublesome question
Of the silver depreciation; but while
the public men in both commercial and
political quarters are debating, the
people are being plucked- II IL as
serted that half the money OF the
world is silver. This has heretofore
been current Is money on parity With
gold. Il is difficult all .. once TO dis
card il from this use. The loss OF
seven dollars on each hundred is . tan
gible hardship to all holders OF silver
THIS on each 800. 0Oo. 900 in the world
amounts TO tbs snug sum Of $1,000, 900.
and renders the country poorer by so
much than it accounted itself. How
ever. the Auctuation of mercantile val
mes cannot lie avoided. A stable, un-
dsvisting parity OF values Of a BIZ
metallic currency can only be main
tsined by mutual consent and fiat Of
law ON the part OF the chief CONNER
cial nations Of the world, that is France.
Englsnd. Germany and the United
States.
To this end Congress is considering q
Joint resolution which has already
passed the Senate-for the appointment
OF commission of three fnanciers to
meet in an International Congress
With similar representatives from Eu-
ropeau governments. for the purpose
Of fixing the relative valuation OF gold
and silver ~ nearly IS it can be calcu
lated 10 which the coins of all shall
oopeW,i. Daabtless this proposition
one provided the other No
HUNBOl- concur. for without the &C
..nee of tina great money power
Europe, no adjustment that coul'
b made in this country wenld be like
~ to be final or Of any lasting avail
One immediate cause of ths trouble
in this matter is that car siiVe
coins contain lees amount o
Silver to the dollar than the STANDARD
,squires for equality with the gold dol
ar. Hence the necessity for a chang
IA the intrinsic value of the coin. Mean
while, the sooner cur government cal
{solve the difficulty. tho better will it b
|. far tho oouutrv In the recent debat
On the subject. in the midst OF grea
hit the nail on tn
head in tho following cogent argu
usents:
III silver is again to be made lega
tender in the United States it is indis
pcnsable that there should be an agree
men. among the leading commercial
nations Of the world as to the relstiv,
value OF the gold and silver, in crde
that the latter may maintain its posi-
ton - . legal tender. The reason i
obvious. II we alone undertake I.
give definite value to 4l2.8 grains o
silver and call It equal to q dollar i,
gold, when 1t is not worth that, w mus
buy oil the silver Of all the rest Of th
world. and sell all tho gold which VI
now have or are likely to have in cir
culation. Under these circumstances
because we are . silver-producing La
tion. and because we want il to bring
good price. because we want to pay oul
debts In silver. it is indispensable,
that there should Do an agresmen,
among tho commercial nations IS to tn,
ratio Of oonvertibility between gole
and sil-T."
6Yt8r rsoiting the recent Auctuationl
in the value Of silver. he adverted e
the fact that Mr.. Cernuschi (whom b.
characterixcs - 1.-The most eminent
and probably the most learned advo
csts now living Of the remonetizatio,
Of silver is now in this city for tn,
svowsd purpose of bringing about th'
proposed International Conference
and IN conclusion, Mr.. Hewitt said:
In no other way can the object.
aimed at by the advocates Of the Blanc
silver bill be reached. The passage Of
this bill Is essential TO the success Q,
their plans. if success te possible, and !
am. as l said before. quite at loss to
comprehend the grounds Of their orpo-
sition to measure which looks to plac-
ing discontinued use OF silver a. money
upon . stable basis. by agreement
Among the leading Commercial nations.
Whether with ouch agreement tho
maintenance OF . double standard Of
value u possible. may we'll he doubted
but without such agrscment it 10 surely
impossible; and if the Bland bill should
b enacted into law. We shall simply
pat the United States in the same cat.
egory with India and China. and step
back two centuries in the march Of pro-
~ssn