New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-02-06
THE MEMORIAL OF THE BANKS.

A CAREFUL REVIEW OF THE FINANCIAL LEGIsLA-
TioN OF OTHER COUNTMEs-TliE REASONS WHY
THE UNITED STATES SHOULD NOT BE FLOODED
WITH SILVER FULLY PRESENTED.
The committee of the banks of New-York,
Philadelphia Boston ana Baltimore, who have pre-
pared memorial 10 Congress against silver, say
at the outset that they do rot recognize that
sthere can in the matter now presented TO Con.
gress be any antagOnism III principle between the
different sections classes, interests Of the country
on the contrary they assume that that which Is WISE
lust and expeGent tor one must he equally wise, Just
and expedcnt for all. Vie first condition of commerce
and Of all material prosperity, Is standard or measure
OF value accurate and uniform the world in order
that the value of the industry products Of every ind
ydua wherever placed may be determined each day at
his own door"
In referring 10 the experience of othernaons the me
mortal saws % England:
The mOuetizatiOn Of gold AID the demonetzation 81
silver in England effected no change whatever IL thc
monetary condition operations OF the people, except
that reduced the value oits SILVER CONS TO ch an cA
tent that they could no longer De exported without loss
Gold continued 10 be- II had been iora long ume the
money chiefly IN That country anticipated Dy more
than fifty years the action of other countries IN
making gold the sole standard Tor the reason
, ,nSt G Sne4 44 nad1 those f ana ]
contrYanccs and Improvements b means o. winch iie
acquired tAat colossal strength ana wealth We carried
her rumphantly through tue bloody ware ~ @iich sie
was 50 loug involved With the increase oil such wealth.
Silver gave place TO gold a. standard p"c.soN anu o.
naturally saith such increase the ola highways EdNt
the canal, ana fic canal 10 Gc>i
Incnt Of modern ciyDZauOn the railway. For that
country return to currency Of silver ia place o. goa
wOull I'm cnect, be the abandonment Of the
railway and the canal for Tie cd highway.
THE EXPERIENCE or FRANCE
An illustration still striking than the preceding,
OF the revolution the OF gold and SILVER money
due 10 the requirements Of enlarged commerce. and
in accordance with spirit OF the age is that afforded
by France country has been regarded as especially
the champion Of the silver interest, and her cX-
ample constantly appealed argument III favor
of the reconciliation o! silver in our own 80 lar nom
acrdng any argument OF the kind, action Tor the last
years presents the strongest possible reason
against IT, Upto 1880 the coinage of France had been
almost wholly OF silver From 1875 TO $780, tie total
coinage OF gold in that country cquacd 172,IJ2OOO
Francs Of silver 2O4 $4,000 francs. From 1870 TO
1876 inclusive the coinage or gold equaed S,O1,9UO
600 francs OF silver LOG, 900 francs. For the
period first named 0ifty-Ye years. the excess OF the
coinage of silver over gold eQuaed 4O3l 1000 francs
for the latter period twenty years me excess O
coinage OF gold over silver equalled 1'OZo|sS'Ooo
francs. 1870
The imports Of gold into France from 1880 to 1919
200 900 francs The of gold in the same period
squacd 47SiOOOOO. and OF silver lO4J9OOOOO francs
From 1850 10 1876, the imports of gOlG INTO France
e0uaeG 1894 100000 francs; OF silver 1903, 700 900
The imports of gold IN the perOd equaled 4ssO
800 600 francs and Of silver 53ll 100000 francs The
excess Of imports over exports OF gold during the
same period were 5,ll35O0,0U0 francs, while the
excess OF exports Of silver imports 000
II ASSUME amount OF silver that ha- into the