The New York herald., 1877-09-14

IOtai.. ........ VuoVo,Vuo
have placed Egypt and Japan among the countries
using gold; some OF the statements place them among
those using silver 1t Will be noticed that the Unitcd
States IS omitted from the table sne Is now consd,
erlng the question. Let US suppose she taxes her od
position among tho nations under gold and silver
The table would be-
Population under gold 1S0, 400 QUO
reputation under sllver ...... $40, .oO0v0 @
Population under gold and silver. 49, 500 600
Tho inquiry is Would such position be sale for the
United Siates9 II we look only TO population, the
decision can be made ut once. Uniting those upon
silver and those upon both metals, they are more
than five times as numerous as those upon gold
alone II We look only 10 territory the decision
can DO made with equal promptness. Moro than
threeiourths Of the earth IS occupied by those
using silver alone, anu silver and gold equally.
lf Russia, Austria ana Italy were now upon
coin basis or about TO take that position, we might
close this particular inquiry but expensive wars have
driven them to inconvertble paper currency, and
so, not using silver the demand for 1t they would oh
erwse mSo AK Is largely diminished shUusr ao, ~
this problem which wise and fars ghtcd statesman
ship will carefully estimate as being important now
and significant Of the iuture But let US for moment
put thcm aside and look ut the IN It's present com
mcrcial aspects Omittng the smaller and less I'm
portant States from both sides, VIC have England
ana Germany on one side AMI France, Belgium. In
din, China and the United States, supposng her TO
return to her former position, on he other side. Thc
inquiry Is, would the stability OF silver bc assured
under this arrangement There IS good reason 70
doubt IT, In population ana territory the last named
nations sroay superior to the former, and in com
mercal importance quito equal 10 them now and sure
to continue so. 1t only remains then, to inquire
Franco mas recently limited the coinage OF silver,
and this has been referred 10 as an Indication hat she
will finally abandon il. such policy 10 not TO
be apprehended: all the conditions are against It. The
certain loss and OF change the extrcme
difficulty OF It's successful accomplishment, the long
experience OF France the equal use Of both
metals her pride OF position her rivalry OF Germany,
the exploded panic OF excessive production, tie re-
stored demand from India and China, and the re-
covery of silver from its recent extreme depression
these influences enough to withhold her from FOL
lowing the example. OF Germany. Why should she
GEaMANy's sxrEREScE.
Germany began decentralization in 1871 and pro-
under which 1t may at last bo completed. This law
docs not dcmonctize; IL stops short Oh that IL
arrangcs tho prelimnarics ana empowers the bun
desratn" when all Is ready, to declare dcmonctzaon,
not yet been made, and about 5000, 600 IN silver
thalcrs are to-day full legal tender In Germany and
occupy the ncld OF circulation, while her gold
is under lock and key in tue fear that u
tho boasted dcmonetlzation OF silver by Germany.
Begun in 1871 II is not more than half consunmated
in 1871 and silver is still uppermost among her peo
isfactoriiy explained. have not yet met with the
faintcst commcndation OF II, and to an outside OBJ
most unnecessary blunder. viii France repeat itY
Germany trcd ~ under tho most favorable conditions
Her debt was less than 500 600 ooo and she ~ had 10
her hands tho French Indemnity Of Ooo, cOo, goo
Her preparations were ample, the undor.
taking seemed easy, but Is not yet YET
than three thousand millions, she has no fund for cx
perimonts corresponding to the indemnify, and her
stock OF silver IL larger than that oil Germany. Tho
trial by her coming After that OF Germany would be
still more dino .ostly Sho may continue 10
cmuarrass hcr rival by limiting the coinage Of silver,
but wo may DO certain sue Will not dcmonetzo It, Nor
should the United States Her debt Is also large and
sno Is in state OF suspension ON seven hundred mill
ions OF paper currency and the financial embarrass-
mcns OF hcr people almost TOO heavy to be borne
The case OF Germany, instead Of being an example 10
be followed, is. rather an admonition and warning
SILVER IN
The third objection to silver Is Tho alleged decreased
domana Tor II In ASIA In tho table have already
given, furnished by Sir Hector Hay 10 the British
Commiss,on tho worlds production OF silver, from
1852 10 1875 inclusive, Is put down at f24 $50 900,
und the shipments o silver to India and CHINA during
the same period fl9y, 450, ,0O0 rnis would be In
dollars ut fve the oundsterIIng worlds produc-
ton OF silver from 1852 TO 1875, 450 0O0 ship
mcnts OF silvcr 70 India and China, 1852
TO 1876 $9y9, ,075 00o On page lst OF the
same report may be found another table, giving
the exports Of silver to the East from Great
Britain aud the Mediterranean ports for tho same
period at GOO, 500, ,3lS. This would DO In dollars
81 ,003, ,4sl, 800 1t worthy OF notice how
much Of the worlds silver taken 10 the East. The
period referred to rich in It's production and yet
according to these figures, only 2lo,o00.oo0 oil the
yield Of twcnty-four years remained In Europe ana
America This added 10 their stock, not more than
quo, 900 year, enough for the arls alone As
have said hnd these figures In the appendix 10 tho