The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-08-06
The silver Qncstion--.Moro Oh WIZ
bismarck said to Hon. w. ". aAell i. !.
Ietter or Mr. Kel1ey,s In Fhi.adGlpnia Times "

rhe ss7Yer QuestIon--.Moro OF Mha
bismarck said to Hon. w. u .. ieiaey I
Letter OF Mr.. Kelley,s In rhiisd &, mes -
BISMARCK on THE PROPOSED CONVENTION.
at this point I suggested that our ooI
crument was about to invite 1eI hian9
France, England, aud other nations 70 nsr
In Joint convention for the purpose. Oh us
the relative value OF golu afH
silver, and providing for the general fecof-
milton Of silver rs money metal. nh p
expression OF mingled surprise and grf-
ification he quickly asked els the me-
sure definitely determined ~ | repliS'
affirmatively, saying that had my y.
formation from President Hayes afd
our Minister OF Foreign Affairs, N;
Evarts, and that Congress had appropriate
100, 900 marks with which to defray the e.
penses OF our commissioners. Iurnlngao
Minister White with an earnestness OF mp
ner which caused me to think be Wouia pc
pleased il the remark should be transmltfo
to Washington, he said: "That proposltPn
will not need protracted consideration. l,s
acceptance viii. be Immediate" Inc pto-
LEGATION OF these facts may impair the m.s'
terlous value OF future formal ,dlplomaE'
but is justified by the freedom OF the ln4s-
view, which imposed no restraint upon py
pen.
Moving toward the door by which we nd
entered the garden, my steps were mIesS IN
by the question from Bismarck, !" naI Wpl
YOU probably do il the Governments SS'
address do not respond favorabiy fri,
missing that could give bat my peTsons
views on that question, said tnat wy
confident that our people wouid III ,eff
than two years imperativrly delnanu lilf
full and unqualified RECOMMENDATION y
silver, which measure L ardentiy SUP
ported. "But," said he, "can you u.
that Will not all debtors then pay IN tne
least valuable metal!" :" Will, salu l
"let American and German history answer
your questions" aud proceeded TO eN'
plain that from the Inauguration OF oul
Government by Washington until 1919 Solo
and silver had, as provided by the Constltu.
ton, both been legal tender; that the mrs.
CONGRESS, upon Hamilton's recommends,
tion. had fixed the relation at 10 to l. ano
for time gold and silver coins had clrcu,
lated freely: that after France established
for Europe the relation OF 15s to l, wbicf
She did in 1893. our gold CONS We're
all exported, and our trade had oeel
conducted and our debts paid eXclu,
siveIv with silver down to 1884; thal
in that wear Congress so far reduced
The weight OF the gold dollar as to flS
The relation at Is to l, which made it proht
,hIe 10 EXPORT silver when not only our doi
lars. hut all other silver coins, were export
ed eve, TO the half-dime, worth but ter
kreutzcrs: that this had compelled us t1
revis, our subsidiary coinage and reduce the
weight OF every coin for the fractional part
NJ dollar, and that hope OF these change;
had brought upon the nation the charge OF
dishonesty or invoked the suggestion that
American debtors were defrauIng thell
creditors by paying them with constitution
al dollars of other metals.
AN APPEAL TO HISTORY.
After brief pause J. added: But the
recent monetary history OF Prussia fully ii.
Illustrates the point in question. Before the
establishment OF the empire Pru>sian law
the coinage Of 20-gulden pieces
OF gold and made them Ie"al tender.
in common with silver, but no German paid
his debts in gold. In the then state OF
trade you found it impossible to keep GOLD
pieces in circulation and ceased to coin
them, though YOU did Eot repeal the lazy
which made them legal tenders "All
that" responded Bismarck. "iS true ana
pertinent: but what effect upon your trade
will it have il YOU alone make the eNperl-
ment 2" Sucakiug for myself, | said: 81
hone that England and other manufacturing
and commercial nations will reject our pro-
nosaI. II is a mistake to suppose that we
alone would IN that event Use silver as the
standard of payment. We would have most
NJ the peoplc OF the world with Us. China,
Japau, British India, Mexico, and Central
and South America all use silver, and in Il
few wears we would monopolize their trade.
They could not sell their raw materials to,
Dr. purchase their manufactured goods from,
,coplc who used 4 much more costly metal
IS standard of payment. We would have
1ine tenths OF the people OF the world
IS our customers, rs the gold-using ma
ions include but about one tenth, and l
prefer that my country should be
It the head OF the vast body OF non.manu-
acturing people rather than at the tail OF
he small group Of gold-using nations, with
whose cheaper labors we would have to
'ompete even in our own market. That
radc between countries who respectively
lse gold or silver as the standard Of pay
nent will be impossible is proven by the
act that even now, when the work OF de-
nonetization has but been commenced,
Neither England DOR Holland can safely
rade with their own Indian dependencies.
This the failure OF great trading companies
n each country during the past year has
hown."
"Your country" said Bismarck, " has
reat geographical advantages. Your oc-
upation Of the Pacific coast makes the
ordcs of Asia your neighbors and opens
heir trade to your enterprise, and the
outh American States are open to you on
9th oceans. But in this matter you must
ot act alone. Others must cooperate with
on. have told you that no more Of our
liver will be sold, and you may also know
hat the people want the coins for business,
nd that they will 60 into circulation again.
t is already ordered"
A few minutes were then passed in gene
al conversation, when after pleasant part
ne salutatons, the organizer aud ruler OF
ne German Empire returned to his desk.
W. D. Il.
Tho RodIeal Idea.