New-York tribune., 1886-01-08
INTERNATIONAL MONEY.
THE GOLD AND SILVER QUESTION IN FOREIGN
COUNTRIES.

The GOLD AND SllN tK Qi ESlION IN fOhEibsN
COUNTRIES.
WAsnINGTON Jan. THE President to-day,
IN answer to resolution adopted BY the Senate on
December O. sent to that body copies OF documents
showing taken by him TO ascertain the sent-
mcut. OF foreign governments In regard to the e,tab
lishment OF an International ratio between gold aud
silver Tho CORE -pondence Is accompanied by letter
from Secretary Bayari to tho President In which the
writer says:
II a. been the object the Department and s
agcns whilst ayowug readiness To coopctatc not
A. nuca to u press opinions and wishes upon
Others as to obtain weI-conSldcred and independent
views from most infue1l. responsible and eonpe'
tent IN order To lay before Congress; ffst TIE
actual Of tho metallic curronoies Ia the respective
European countries. ana. second, inc intentions au
policies OF these governments IN rotation 10 tue suy't
vita details OF thrir action up TO the present TIME
Tho cnectually TO attain I'M. end "a gentleman
specially with the question. thorough ana
.hrd student OF finance. was selected To act m
conjunction with the resident envoIS ana oy psr'ona
conference and conhhenlla utknn'y 10 hsCcIlhih 'o
present opinions Hnd purposes OF these governments IN
onrhIy availed hlm-clf Of the unusual opportunities
thus afforded. No separate report ny MN mas Dcrn
made. because tho results o. his investi9atons apner
fully IN the letters OF Messrs Phelps Mohne and Fen
deton. .
congress OF the dcegars Df the EuropcHn states com
posing the "Iatn union" was deemed an oppottnne
cc.ninn for an preston OF interest by this Govern
In the question there considered ME walker inc
of the Tn ted states at Paris. gentle
man well versed In fiscal science. who has on other oc-
caslon- selected by TINS Government 10 investigate
h OF silver c0nage In Europe, requested
bv me- To- attend the PROCEEDINGS the Lain Congress
aud make report thricupon TO TINS department. Mr
WALKER ma, ntelgenly performed the duty assigned to
him From Mr.. McIenc Minister at Paris, have
received r full text copy OF the late monetary oon
vrnton settled between the States Of France, italy.
switzerland and Greece and also copy OF The sup
plrmcutary article by which the adhesion OF Belgium
was gwen TO the alliance. Accurate TRANSACTIONS OF
both OF these documents accompany this letter
The correspondence includes n letter from Minister
Phelps under date OF London Oct 90 1889 IN which he
says: IL satisfied that the British Government VIII
innexbly adhere to their past and present policy in
h..f fhavVy
gold standard now aud long established that they will
not become party any international arrangement or
union for the creation OF "a hmetalic STANDARD at
ratio between gold and silver for the purpose OF
making both unlimited legal tender; nor adopt such
double standard in Great Britain
Minister McLane, at Paris Expresses tho opinion That
while France would gladly receive the intelligence that
United states would adopt the French ratio OF l3 ot
silver to OF gold, consideration o: future cOnse-
aences could induce her To adopt thu American ratio OF
to l. st less would she adopt any higher ratio to as
slmate the present commercial market value OF sil
yer The value OF gold would sue consent at any
ratio nor to permit unrestricted or even limited
coinage Of silver at her mints.
Minister PendetOn In his reply says: The adhesion
OF Germany to international bimetaic union such
as was proposed by the United states and France In
1881 can scarcely be expected It seems to me, within
any limit of time TO be predicted Tho cooperation
OF Germany In such union may bo sought with fair
hopes OF success whenever it becomes possible to in
clude In such unon England and Russia the former OF
winch to cleaye tcnacously to her gold mono
metasm while the latter staggrrs under the evils OF
n deprecated and largely nuctuating paper money"
ConsuGeher Walker, In letter to the Secretary OF
State under OF Paris August 20. 1883 reviews in
detail the changes OF sentiment Of foreign cOun-
tries In relation to monetary matters as shown
I'm the proceedings OF the monetary conference.
and says beg leave tO reitcrao the opinion whioh
have expressed IN former dspIcbe that nothing will
the adoption In Europe OF the monetary
policy which desire to have adopted MS the suspen-
sion OF silver COINAGE IN tho United States"
The also includes copy OF the agree
ment entered into at the Paris Monetary Convention.