Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1878-01-19
THE SILVER QUESTION.

SIR,-This veXed question still
continues VeXed, and has been YeX-
ed so long that / am induced, bear-
ing In mind the gravity of its infiu-
ence on commerce, to address you
few lines, hoping that should l
fail to gain your concurrence in, or
make you a convert to, the princi-
pie of bi-metalism, | may at any
rate invoke your attentive consider
alton to my arguments faVOring the
bi-metallic system.
The views of some have gone so
far as to argue in favor of the de-
mOnetisation of silver in Europe,
and it is in reference mainly to this
latter position that would respect
fully ask the consideration of the
matter.
On the abstract question of a
standard of value, / presume that
by universal concurrence based on
financial experience, a single gold
standard would be chosen, were we
commencing the world, denOCO, but
considering that from earliest his
tory, both gold and silver have been
considered money, it would be diff
cult argue, impossible, in this
wear Of 1877 to dispense with one of
the metals on which values have
been based for so many centuries,
that one metal being by general con-
sent equal in valuing power, to
what we may call her superior sis
ter, gold.
But to return to the point to
which l would ask the favor of
YOUR consideration-the demOnetisa-
ton of silver in Europe; let me ask,
c,i 6O10-uncOnsciOusly the whole
of Europe has been on the bi-metal=
lie system for the greater, if not the
entire part of this century through
the instrumentality of France
which system still exists, though in
a state of suspension, one Of the re-
suits of the FrancO-German war.
This bi-metallic system of France
was able to withstand the shock of
the gold discoveries, when, If NJ.
CheValier had been listened to the
double system Of France would have
been changed to single siLUey stand
ard and / am one of those who
think, that if the bi-metallic system
of France could stand the effect of
the enormous gold discoveries of the
last q years, with no other result
than unabated prosperity to herself,
the same system can equally stand
the more moderate discoveries of
silver in America, and the increased
supply from Germany; for it cam
not be denied that France, who has
always stood ready to buy the one
metal and sell the other, of or to,
those less fortunate than herself,
possessing only a single standard of
value, has traded in this respect
very largely to the advantage and
the profit of her people.
| do not myself doubt but that
France could, unaided, restore sill
yer to its normal condition of IS
standard, or thereabouts, by again
consenting to receive it apf coin it
into money; but | can understand
that she should hesitate to do so, in
face of the generally received opin-
ion, that silver no longer has, and
never will have, any fixed value, a
truism, on the principle that it is
only necessary to give a dog a bad
name and you must hang him.
Silver, doubtless, as many must
know to their cost, has had no fixed
value since France suspended its
coinage into 5-fFane pieces about two
years back; but / believe it to be
quite within the bounds of the abil-
ity of France, by purchase from
Germany of her unsold stock of sill
yer, to restore it to its old position
as money but, naturally, France
hesitates, and, as a consequence, sill
yer still drifts about the world With-
out a helm,
While maintaining, as / do, that
a universal hi-metallic system is not
only possible, but would be hest, ]
do not fail to recognise the insuper-
able difficulties of attempting any
change in the English system of q
single gold standard; but l never.
theless think that the trading COM
munity of England are sufferers by
the non-adoption of the double sys-
tenn, for / view with some interest
and concern the possible closer con-
1ax ax.s1lxv n, II fr,