, 1881-03-21
BInIETALISA1 AT 15a.
Henri cernuschi's Argument in
Favor OF That Ratio.
Its Alleged Necessity for All Europe
and tho United States.
" The Only Ratlo That Is Practicable, Just, md
Universally sdsanlageoas.7


Universally Advantageous"
When Established, Silver al London win i'm.
mcd1ateIy Recover rs Old Par,
POSITION TO WHICH SILVER IL NOW He
DECEt3.
PARIS, Feb, Z, 1sAl.-Thc tnonotnrtaltsts wcro
bosln1 Ia fall. thoy 'trc failct. They succeeded.
Indeed. In getting NIL tho rO.l.eolnlng statrs IL
CEASE coinnE silver. but thoy struck HEntnst MI
tnln,sslbitlty when. persisttnH In tlplr cntrr.
prise. they wanted Europe 10 cal'-in nntt lie.
,nunctzc It's old silver eDtn. That roiN still cir
calntrs, nnsi by mll,fnrtis. How conlIl IL hnvc
l,cru cae.l-tn and rrpnih With goii7 Whn wpull
hnvc hought NIL thosc crow,ls tnultcd down Into
lnEotA7 Who co,.h havu st,pngtctl tho RnEt 10
pny fur those lnGnta? What could have hccn
dono with those iMgots7
Germany, who had embraced with nrtlor tho
gold monotnctnIlIst doctrines; Grrmnhy, WIN
hnl set herself to chlltng.kn the nrins nnt! thn-
lcrs, aud selling them 1T my price In inEuts be-
yOtnl tho frontier; Germany hrrsrlr, rtllpctfny
on tho c1assal !osaEs sEe wns iIb0llt to fncNr by
continuing tho Ingcn,iDtls O,orntlun tahs hnd nj
rcady lost huiltlrnl million ntNrks), R,!0pted III
JUNG, lssb, manly resolution. She proclaimed
Tint shr rctiOtiiItHti carrying further tho work
ut characterization. NJ more cnlLings-tn, III
morc snts of silver, Tho Old thnstr. thercforc'
sl' crc''tafcs: 1t crtttlttes rs forced c1lrre'i-
cy, and cs cry German II bDund to receive II for
three god Murks.' Thus tho position OF FrAncc
and the position Of Gcrn'lly, Though brought
about by unlike cMttsea, are now identical, 1}ah
her0 md there gold alnno Ia coined; int 10th
here and therc " ii glut Of old silver crowns. At
tho lIuperint 13nnk.of Germany, ns ut tho llnnk
of Francc, Tho stock Of metal Is composed of
~ xtr.1. + ,lsx3c ,iI
f,,,t thoro IS metal md u,ctaI, accurdhR M tho
Inv ndtn',s gold ulonc, Or silver alone, or both
tuae.''or' !" I!c" al'u uElithl"u m4t't"Bc. MhGli
tcc nhtAl Is hot cotllNb!t ut pleasure. NIL or II
that exists NJ coin BECOMES tcbusrd. 1t clrcu-
=. ~ .,. ...e', '..... =. ~ ..,.s,
:. ~ ~ .ne'u 1u'csu currency. wv Gun nc ihe'teA
ported FOR tho 1n,yp,so II l,c!nx transformer
i,,r ,m,nov r., ro,rhimIn,, stntos rn ~, nm nv,
az e ".u' ~ ..,.,. ,s sss.ts nv ,,D.''.'
" "..tn,. ,. iNnees WHEEL wa.ns '1o n'n un,on;
value Of four blI,nTas of fruncs. hayt, M rcul
value. 1t Is inst as IL they were nickel.
a.! tno eo''e" s'.ee VI nel'hn.!y'ot iio!lano'
OF nil Europe. md Of tho United stntos, II In tho
.,urn .io ns. fcw xoars % ts.ns IN ~, ts, ,mon @
,n",n,e,s.s ,v,,l ~ t,t,'n =. !, ,.nr, ,",,t. t-
prisons the national silver coiungc. Half tho
Europcui c.,sh ls thus shut ,,p IN compartments
mot communicating will, cncl, o,her Let 1t pncc
brcomo necessary to export gold III payment nf
wheat trun, beyond tho scas, nlL tho gold
fr,ucs tho uoII marks. tho uotd 1,orlns viii nIl
m ~ !, ,rsI,,.n ns nn,nmnr vi,h ~, afwn
frn1cs tm,rts n,,,i iinr,s Thn 1nnne,nrv sU nSnss
ts,n.ni .' In % annrtnt. ' 49," '''t'eN'' 1''""s
VIII" Trs th6 M f:mvt.rmnep.s now ,oJnlnt, ,,o1d, or
only i tar number OF those OovcriIuunis, hegin
s ~ of , n unm th M ~ ogS s.
h',o ~ " arntio,t o f,r ,ntiT,nr. iii T., sr,,, ~
,,in.m. ~ nrnsc,,t r,,;.trn,i ~ thn r',ni;tn ~
@ vrr,no nurfs 'sp ~ y sow xG"mS ,I"'.i
Syer md rI imiirerst,eiy' viii i,l; snIt nt:rnss
SH t1v srs 10 W. upt ~" pf'Hsoa ~ 1,Gt s IL ny
f.frnm nrco"s Erncn mn INV ~ nsm WY t,o y" rn1, ~
thnlnrs nr Srnnn ,ntv uy ,na ~ ,"n -" p' ~, ~ ~
sSGs s,ara Tn uEs ~ I nneg oMt @ q
a a,.o =" ~ ,rt t,T % muy VIII VIII
sH,, fn .,vnr ce''"'' "on""hcc 1na
r,hnsn III tsIrns I,mv ,oned o,o,ul o,d 4, aov<