Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-01-08

aGn8el0n OIL 0efmany t3o0 fnooxnotfou0@
binetallic union such.x2,was proposed
by the United States and France in
1881, can scarcely DO expected, IL
seems to me, within any Limit Of tine
now to be predicted. The coop
GRAFTON Of Germany IN such .
union may be sought wkh
fair hopes Of success whenever
it becomes possible to include in such
union England and Russia, the former
Of which seems to cleave tsnaciously
to her gold mononetallisn, while the
latter stagyers undsr the evils Of de-
preciated and largely. Auctaating paper
money. The adhesion Of England, at
least, is certainly now, and would
probably for an indefinite period be,
regarded by Germany as sine qua
non.
Conssl- General Walker, in q letter
to the Secretary Of State under date OF
Paris, August 90, 1885, reviews in de-
tail the changes Of the sentiment OF
foreig, countries in relation to the mon.
etary matters rs shown in the proceed
ings Of the monetary conference. Mr..
Walker says his information shows
that an intelligent majority Of the
principal commercial centres Of Great
Britain has reached the sonclu-
sion tina. the silver question is
largely responsible for the existing
distress, and believes that bimetallism
to be established by the interna-
tional treaty is the only sufficient none
tary remedy. But the ultimate solu-
ton of the monetary question:" he
says, sin all countries rests with the
legislative bodies. because money is
the creation Of law, and it must always
beborne in mind that the Parliament Of
Great Britain is q very conservative
body, and that is now strongly preju-
diced in favor of the gold standard. The
Liberal party, under the recent extern
sion Of suffrage, is likely to have an in
creased majority in the new House OF
Commons, and it unfortunately happens
that in England free trade and gold
currency are popularity believed to be
indissolubly linked together. With
the adhesion Of Great Britain the
adoption Of international bimetal-
lism would be very simple.
Without that adhesion il would be
equally practicable, safe, and effective
if the system were adopted by Germa-
ny. OF this there is much reason to
hope, inasmuch as the prevailing senti-
ment of that country is unmistakably in
favor of the restoration Of silver to the
full monetary functions. In Germany the
learned body has taken the lead in this
direction, and it has been followed by
all the industrial classes, by leading
commercial houses, and it is also as
serted that q majority Of the national
Parliament has reached similar con-
yiction. and may at an early date be
persuaded to act. ! beg to reIterate
the opinion which have expressed
in former dispatches-that nothing
will so much hasten the adop-
ton in Europe Of the monetary
policy which we desire to have adopted
as the suspension of silver coinage in
the United States. Deprived Of this
artificial support silver would find the
level to which the recent monetary legls-
lation and action of this continent has
doomed il: and those who have
promoted that legislation and ac-
ton, as well as those who suf-
fer from it. would thus be brought
face to face with its Legitimate conse-
quences. need only to refer in sup
port Of this opinion to the declaration Of
Goschen recently made to the Chamber
of Commerce Of Manchester, that there
was no hope Of improvement in
the commercial situation until 1t was
known what the United States will do
with the Bland bill. Continued coinage
under that law. as well as any other
monetary use of silver in the United
States which tends to uphold its price in
the markets Of the world, will have the
effect to postpone the final and satisfac-
tory settlement Of the monetary ques-
ton. and thus to deepen the gangrene
which in all countries is entering into
the yitals Of productions industry, and
trade