New-York tribune., 1885-01-09
PRESIDENT BARNARD ON BIMEyALLISM.

In response to inquiries on the part of MEM
hers of the International Bmesllic Association, DR..
T. p Barnard president OF Columbia College, recently
addressed the following letter to Mr. W. ID Boucher the
secretary Of that organization
COLUMBIA COLLEGE, NETWORK, PRESIDENTS Room,
Nov. g. 1854.
DEARs II my opinion he of any use TO you
IN regard 10 the silver question quite willing to re-
peat writing what have already said In our recent
saw therefore that it to be of serious i'm
pogtace that the place which silver Is TO occupy In
monetary systems national or international should De
definitely settled. The International Conference OF lss
believed that If every nation should be left free to adopt
such system should II to be most advantage
itself vz tue gold standard, the silver sta dar
the double standard, the question would settle ltse
Such has been my own opinion but ibr process OF
ment in this way, am Obliged to admit IL
likely 10 be a long one, as is evidenced in the
has been lighting against fate IN this matter for the past
six years. without making an inch of progress
those with whom yOu act believe that an ex-
pcdtOus settlement be brought about by securing
the concurrence OF all nations IN some aetermlnate
policy consumation To- be arrived at through an inter-
Dational conference This expedlcnt has been tried
already on several occasions, and has been always
successful II II should be ttled once more with nap
pier result am that the consequent removal from
this field OF comnercal activity ana OF pOcai aglta-
uon Of constant subject 0i anxiety ani 1istur3ance
would be cordially welcomed by men OF ali shades OF
ticOretic opinion in regard TO It, On the other hand
failure OF the experiment, should IL once more be
tried and fail, would be attended with one advantage,
IN the fact that IL would finally demonstrate
the fuy of the hope TO which ouititndes si fondly
cling. that this perpexing problem can be solved by
diplomatic tDstrumentdes.
il is for these that prepared to go with
you in the demand for International monetary
congress. IL by this means the troublesome silver
question he settled let II be settled without delay
But II the ia inadequate to the end then let that
be made manifest to discourage all attempts of the
same kind In the future
The misfortune II me. which has attended
the discussion OF this question hitherto is that the
VINO call themselves bimetallsts that is. the who
desire 10 make both silver aud gold available FOR the
ment OF debts. have also invariably iDcnlcated the
doctiine OF a double standard thing which Is in It's
own nature absurd. and which Is historically proved to
be Impossible.
Bimetaisn In coinage-by which mean the manufact-
ure of coins OF both metals to he made legal TO
all amonntsis, in my Judgment only practicable this
condition, that there shall be but standard metal,
and that the egatender value OF the other shall be de-
termncd by the market price or the other In terms OF this
standard metal. This Ia the plan which l proposed 10
the International Association for the Reform aud Cod
cation OF the Law OF Nations, at their meeting In Guild
hail. London In 1879 II a new international monetary
conference should be found sensible enough 10 adopt
We should speedily realize what the baetasts profess
to desire vz the utilization OF both metals legal
der money without limitation otamOunt and at the same
time what the monoDetallists Insist VIZ, single
standard. am, sir, very respectfully yours,
T.. A. 4. BARNARD