The New York herald., 1877-01-19
OUR SILVER ABROAD.
Proposition from Belgium to the
United States Government.
A REMEDY FOR PRESENT EVILS
A Mint in Brussels for the Coinage o1
American Silver.
ADVANTAGES OF THE PLAN.

ADVANTAGES OF THE PLAN.
The following communication, forwarded TO the
Secretary Of the Treasury, In Washington, by n.
Aliard, the director Of the Belgian Royal Mint, will
be found special interest TO American readers As
will be by perusal OF tho document, II pro
posa ON the part OF the Belgian authorities that tho
United States government should establish mint tor
the coinage Of silver at Brussels as remedy for the
evils arising nom the unsteady and Guctuatng con-
dition OF the silver market
ROYAL MINT, BRussELs Dec 81 1876
To THE DIRECTOR oy TIN TREASURY or THE UNITED
STATES, Washington, d. c.:
SIR-In view OF the measures taken by tho United
States to develop the coinage Of silver, and OF tho
serious questions to which the deporabc state OF the
European market Tin consequence Of tho closing OF all
the mints OF the Continent TO this metal) has given
rise, have taken tho liberty to place before you
what | consider to be measures TO DO taken
by the United States to assure a greater
stability In tho European market II would
bc necessary, as you will see, sir, by the
attached that tho United States. with all tho authority
that belongs TO that great country, should open in
Europe at least one OF tho mnts whose closing has
caused the trouble the silver Market have taken
upon myself point out how this is to be done. do
do not doubt but that my proposal will be found by
you In every way agreeable to tho interests OF the
American government, and IL is accepted prnci.
pie II will DO easy find Immediately practical means
for putting II into execution
have tho honor bc sir, your most obedient scr
want. J. ALLARD.
PROPOSITION TO GOVERNMENT OF THE UNITED
ROYAL MINT, BRUSSELS, Dec. 81, 1876.
According to the last report OF the director, Mr. H.
r. Lindernnann, the silver coinage Of the United
States for August and September far exceeded pre-
vious limits Silver has been turned during these
two months ut the rate OF s32, 2s2 46O year. whilo
the highest reached to that date land
spending to the year 1898, at the moment OF the
change the sandsrdl only 50, SILL In order
to meet this heavy coinage the United States have
been forced 10 buy silver In Europe or at least to pay
for 1t al the miut in America such prco that II
profitable to buy in Europe Here Is the sacrince:-
These silver orders coming on a market already very
unsteady, and as consequence OF its unstcadiness,
rregulary and poorly supplied, these sudden orders
rise in prices Of unreasonable character
and they have also this other serious inconvenience
that this momenary rise has the effect of attracting
silver to tho market just at tho time whom the orders
Tho consequence is . violent drop In tho prco
OF the metal At ono timo there orders, but no
metal on tho market; some days after there Is metal.
actually takon place only few days since. and 1t is
only necessary glance the quotations for silver in
London TO tho unreasonable fluctuations which
took place in December.
EXPECT FLUCTUATIONS
This state o things touches the interests OF the gov
ernment OF the United States In two ways. First,
buyer and consumer OF silver Il pays always dearly
for II; second, as producer OF silver Il nor mines
great disorder is into all tranac-
tons payable In that metal and money finds less cm-
ployment these transactions diminish.
There is, nevertheless, very simple remedy to bo
employed, which, II It does not stop completely this
state OF shings hurfu to American interests would
be certain at least to paa.o It's perncious effects
is this remedy that desire to clearly point out II
have occupied myself with this question important
the United States II Is that being Tor thirty years
tho Director OF the Belgian Mint, tho only coiner
| Of money who through the bullion houses have
established in Brussels Paris ana London, solely
consecratod himself during this time TO the study OF
the questi ons concerning the buying and selling of
gold and silver in Europe, and ! am able, In consc-
qucncs to judgo exactly Of tho position Of the Euro
| pcan market
CAUSE THE EVIL.
In the notes drawn up by me, and which tho Belgian
government transmitted to HIS Exccllency the United
States Minister at tho beginning of this month, in
rcp to the questions of the American Silver Commits
sion have clearly laid down the principle which has
been tho truc cause that in Europe, for moro than
thrccquartcrs OF century, gold and silver have
mained Of the relative value the toward tho
other have shown In those notes and In detail tho
proof hat the cause be attributed to the law In
France, and later on in Italy, In Belgium and In
Switzerland, which created, without limit the coin.
| age, tho possibility TO coin these two metals, in
giving them tho relative value of one to
/
Of nuc silver contained In the coins OF i've
lrancs and 34l4 francs the kogramme OF hnc gold
contained in tho twenty franc gold cons remarked
In those that gold and silver launched thus
into circulation constituted and tree reservoir
regulating value OF the metals In the world
maintaining their equilibrium SO exactly that neither
the great discoveries Of silver In Mexico In 1874 46
nor tho immense discoveries OF gold in California and
Australia, were able to disturb IT, Thus arrived al
this proof:That TO break up this equilibrium and tc
cause the fluctuations which VIC have since seen
nothi ng more needed than the law limiting The
coinage OF silver 1879 The modification OF this Law
would succ TO restore calmness to the silver markc
and Of the summcrsaults to which II is sub
jected.
| THE REMEDY PROPOSED.
Until the moment arrives when by the force o
things reasonable ideas on this question will b,
entertained In Europe, the American government can
by simple action 10 bc taken by IT, and which, with
out doubt, will cost II nothing approach very
the end desired. The government OF the United States
who have to coin between resumption OF specie pay
mcnts on the LIST OF January. 1872 should address II
self to tho mint Brussels, and authorize IT, undc
tho inspection Of the Belgian government to 70
the OF the American government, at price Il
be determined by II, dollars fractions of dollars,
silver OF the weight and 0ncncss laid down by tn
American laws. The moment this resolution is ar
rived at the fall IN the price in silver would b.
paraIyzed and could not again In Europe pass th
limit determined on by tho United States In poln, o
fact, on every tall in tho price Of silver, were !
only Tor twcnty.to hours even below the limit ycd
the American government would have the spot