The daily gazette., 1879-06-19
The silver 0uestlOn

The revival ofthe interesting questions
with the att mpt to restore
silver to its ancient place in the worlds
currency has been stimulated by the re-
cent advance of that metal in price. The
New York Tribune, which has paid
great attention to the subject of the
true relations that ought 10 be main
tained between the two precious metals,
published last Saturday long letter.
from the veteran and inveterate Thurlow
Weed, together with brefer one from
Mr.. Stephen Williamson, the well-known
English advocate of bi-metalism. Mr..
Weed contends that there has been a
great change in public sentiment in re-
gard to silver. The arguments and
prophesies of evil made by the press, by
capi alists and statesmen, Mr.. Weed
thinks, have turned out to be uDfounded
and failacious, and the public has come
to think the fact suggestive. Mr.. Will
hanson, who writes from San Francisco
to a friend in London, says that he has
found in this country an almost universal
opinion amongst bus ness men in favor
of bi-meta!ism and the reconciliation
Of silver on a fixed ratio to gold. He
adds, very justly, that 'the apparent un-
willingness Of the press and OF many pub
lie men to declare themselves in favor of
our views has resulted from an oversen-
sitiveness lest they should be subjected to
the Stigma (fosteled by the English press)
OF desiring to pay their debts in depre-
ciated metal-Uf virtually favoring repu-
diaton, and Of playing into the hands of
the owners of silver Mines"
Mr.. Williamson thinks that the rise
in silver will be as embarrassing as its
fall was. 1t is the fluctuations in the
metals value which are so disastrous to
commerce, and these fluctuations, it is
contended, can only be controlled by the
governments of the world establishing
and maintaining an arbitrary ratio on the
plan of the Latin Union. 1t is claimed
that it is great necessity of commerce
to keep both the precious metals in con-
slant international use, and that nothing
has broken up the old ratio of 49, to one
for silver and gold "except the unwise
acts OF Legislators and the stolId indifItr-
ence Of English financiers, bankers and
statisticlans." Mr.. Thurlow Weed plants
himself upon the views of MIR. William
son and of Mr.. Hugh McCulloch, aud
wishes to lead the republ can party back
|
to see Secretary Sherman converted as
Mr.. McCulloch has been, and claims that
resumption would have been impossible
without reconciliation. Mr.. William
sons views are so well expressed and Sc
solid that they are entitled to great con
sideration, and should induce the finan
ciers and bankers to carefully reconsider
the silver question. He had strong ar
tcle on the subject in the April numbe
of the Contemporary Review, in wLicl
he combated, and with apparent success
the chief objections TO the remuneration
of silver. He denies that the deprecia
ton of silver is due to any dis urbanc
in the natural relations of demand an
supply, but that the sole source of th
trouble has been the artificial inter fei
ence of law. Unmake prohibitory law,
enact aud maintain a fixed, unvaryin
ratio, and all the disturbance in the va
ue of silver, he SAYS, will cease ON tn
instant.-Battimore Sun.