Southern standard. (McMinnville, Tenn.) 1879-current, 1885-12-12

our silver Is cOmpulSOrlly coined, 1T
provides that the President shall
invite the Governments of the coun-
tries composing the Latin union, So
called, and Of such other European
nations, as he may deem advisable,
to join the United States in a confer
ence to adopt a common ratio between
gold and silver, for the purpose of
establishing internationally the use
Of bi-metallic money securities fixity !
of relative value between these met
ais.
This conference absolutely failed |
and similar fate has awaited all
subsequent efforts in the same direc-
ton, and still we continue our coinage
of silver at ratio different from that
of any other nation. The most vital
part of the silver coinage act remains
imperative and unexecuted and
without an ally or friend. We battle
upon the silver field in an illogical
and losing contest. Togive full effect
to the design of Congress on this sub
ject l have made careful and earn
est endeavor since the adjournment
of the last Congress. To this end
delegated gentleman well instructed
in fiscal science to proceed to the
financial centers of Europe and in
conjunction with our Ministers to
England, France and Germany, to
obtain full knowledge of the atti-
tude and intent Of these governments
in respect to the establishment of
such an international ratio as wauld
procure the free coinage of both met
ais at the minis of those countries and
our own. BY my direction, our Con-
sui General at Paris has given close
attention to the proceedings of the
congress Of the Latin Union, in order
to indicate our interest in its objects
and report its action.
1t may be said as the result of these
efforts, that the attitude of the lead
ing Powers remains substantially
unchanged since the monetary con-
ference of 1881; nor is it to be ques-
toned that the views of these govern
ments are in each instance supported
by the weight ofpublic opinion. The
steps thus taken have, therefore, only
more fully demonstrated the useless
ness Of further attempts at present to
arrive at any agreement on the sub
ject with other nations. In the mean
time we are accommodating silver coin
based on our own peculiar ratio to
7 such an extent and assuming so heavy
: a burden to be provided for in any
international negotiation, as will rem
, der us an undesirable party to any
9 future monetary conference of ma
tons. .4yf
= 1t is a significant fact that four OF
e five countries composing the Latin
f union mentioned in our coinage act
r embarrassed with their silver, have
Q just completed an agreement among
Y themselves that no more silver shall
/ be coined by their respective govern
n ments, and that such as has been al
ready coined and in circulation shall
d be redeemed in gold by the country
d of its coinage. The resort to this ex
e pedient by these countries may wei
). arrest the attention of those who sup
e pose that we can succeed without risl
n or injury in the attempt to circulate
1t on its merits all the silver we ma.
e coin under the provisions of our silve
e coinage act. The condition in whicl
h our treasury may be placed by a per
d sistence in our present course, is 4
n matter of concern to every patriot
IS citizen who does not desire his gov
e, eminent to pay in silver such Of il
" obligations as should be paid in gold
h nor should our condition be such a
lg to oblige us in a prudent manage
at ment of our affairs to discontinue tn
lie calling in and paying of interest bear
to ing obligations which we have tn
in right now to discharge, and thu
&c avoid further payment Of interes
us The so-called debtor class for who's
ne benefit the continued compulsor
IS, coinage of silver is insisted on, al
10 not dishonest because they are in deb
d, and they should not be suspected of
IN desiretojeopardize the financial safet
&C. of the country in order that they ma
elk cancel their present debts by payir
h the same in deprecated dollars. NJ
is should it be forgotten it is not Il
in rich nor the money lender alone TIL
nd must submit to such a readjustmel
on enforced by the government and the
ed debtors. The pittance of the wido
N, and the orphan and the incomes
lat HELPLESS beneficiaries of all kim