Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-01-08
COED AND SILVER.
AN INTERNATIONAL RATIO.

an INTERNATIONAL RATIO.
issrertsns sufsrmssisn ossainsd frsa the
Ffnaneiai Censrss - Esrsse IN Relation 20
Metallic eurressisA
tBy Telegraph TO shs Dispatchl
WASHINGTON, January 7.--The
President, to-day, IN answer to reso-
luton adopted by the Senate December
9th, transmitted copies Of documents
showing. the action taken by him to as
certain the sentiments Of foreign Gov
ernmeats in ssgard to the establish
ment Of an International ratio. between
gold end silva. The correspondence Is
accompanied by letter from Secretary
Bsysrd to the President, Of which the
following is copy:
To the President:
IN compliance with the Senate rssolu-
ticn Of December 9, 1885, transmit
with this latter sundry documents re-
lating to the action taken by you
through the Department 10. OBJ
tain information at the financial cen
tres OF Europe in respect to the practi-
cability Of establishing such IN inserna-
tional ratio between gold and silver as
would permit and induce the free coin
age Of both Of these metals at the minis
Of the United States, and Of ths leading
commercial Powers of Europe.
As q condition precedent to congress
sional action upon this profoundly i'm
portant subject the attainment Of know
ledge, and the intention in relation
thereto Of those charged with the finsn-
cial conduct and safety Of the leading
commercial nations of Europe, has been
sought, and, believe, obtained.
Whilst the policy Of this Govern
ment and the expression of legislative
opinion has been fully recognized and
amply expressed in the recital of the
acts and resolutions Of Congress, as
will be perceived in the copy of the in
structions which accompany this letter,
and constant and candid avowal has at
all times been made Of the earnest de-
sire of this Government to obtain and
maintain limited and free coinage Of
both Of the precious metals at such q
ratio and the equivslency Of their vslu-
atoms as shall lead to the Withholding
Of neither from the mint, but to secure
metallic currency whose volume
can be supplied from the worlds
production of both silver and gold,
and to that end to cooperate interns-
tionally with q foreign Government
yet it has been the object of this De-
partment andits agents, whilst avowing
our readiness to cooperate, not so much
to impress our own opinions and wishes
upon others as to obtain well-con-
sidered and Independent views from the
most influential, responsible, and CON-
petent sources in order to lay before
Congress-frst, the actual status of
metallic currencies in the respective
European countries and secondly, the
intentions and policies Of those Gov
ernments in relation to the subject,
with details Of their action up to the
present time.
1t is believed that the accompanying
letters from the Ministers Of the United
States to Great Britain, France, and
Germany. respectively, summarize and
convey the true condition Of opinion
and intentions Of the Governments and
people to whom they have been severally
accredited. More etiectually to at
tain this end gentleman es-
pecially converssnt with the ques-
tion-a thorough and accomplished
student OF fnance-was selected to act
in conjunction with the resident En-
voys, and by personal conference and
confidential urgency TO ascertain the
present opinions and purposes Of those
Governments In resfec! 20 the subject
in view.
Mr.. Marble has thoroughly availed
himself Of unusual opportunities thus
afforded and the information so gather
ed by him in quarters most authorize
tive and reliable, and from sources
deemed entirely trustworthy, has been
canyassed with diligence and care, and
the results are plainly and succinctly
set forth in the letters now transmitted
Of the Ministers, No separate report
by Mr.. Marble has been made. because
the results Of his investigations appear
fully in the letters of Messrs. Phelps,
McLane, and Pendleton.
The conyocation at Paris in June last
OF the monetary congress of delegates
of European States composing the
" Latin Union - was deemed an oppor-
tune occasion for an expression of the
interest by this Government in the
question there considered. George
Walker, Consul-General Of the United
States at Paris, gentleman well versed
in fiscal science, who has on other o.
casiOns been selected by this Govern
ment to investigate the question Of |
silver coinage in Europe, was requested |
by ne to attend the proceedings Of the !
Latin Congress and make report there !
upon to this Department.
Mr.. Walker has intelligently per-
formed the duty assigned to him. and |
his communication to the Department
containing the history of the proceed
ings Of the late congress, and his views
IN relation thereto, is annexed.
From Mr.. McLane, our Minister at |
Paris, | have received in its full text
copy Of the late monetary convention
settled between the States of France.
Italy. Switzerland, and Greece, and
also copy Of the supplementary arti-
Gle by which the adhesion of Belgium
was given to the alliance. Accurate
translations Of both Of these documents
this letter.
Respectfully submitted.
T. +. BAYARD.
Department Of State, January I,
1886.
A letter was received from Minister
Phelps under date of London. October
70, 1885, in which he gives the result
# the conferences by himself and Mr.