Crawford avalanche. (Grayling, Mich.) 1879-19??, 1886-01-14
SILVER.
Sentiments of Foreign Governments Upon
the Question-Manton Marbles
Mission.

President Cleveland, IN answer to a resolution
adopted by the Senate Dec. 9, last week trans
mitted copies Of documents showing the action
taken by him to ascertain the sentiments Of
foreign Governments in regard to the establish
ment OF an international ratio between gold and
silver. The correspondence is accompanied by
a letter from Secretary Bayard 20 the President
in which he says in part:
@It has been the object Of this department and
it's agents, while avowing our readiness to CO.
operate, not so much to impress our own opin-
ions and wishes upon others as to obtain we'll
considered and independent views from the most
influential responsible; and competent sources,
in order to lay before Congress First the actual
status OF the metallic currencies in the re-
spective European countries !; and, secondly. the
intentions and policies Of those Governments in
relation to the subject, with details OF their
action up to the present time. 1t Is believed
that the accompanying letters from the Minis
| ters Of the United States to Great Britain,
France, and Germany, respectively, summarize
and convey the true condition of opinion and in
| tentions of the Governments and people to whom
| they have been severally accredited.
The latter then mentions the designation OF
| Mf Marble as n confidential agent to obtain in
| formation upon the subject, and says no sep
| arate report by Mr.. Marble has been made be-
| cause the results of his investigations appear
| fully in tho replies Of Messrs Phelps, McLane,
and Pendleton. The correspondence opens with
| n letter from Secretary Bayard to Manton Mar
! BILE notifying him Of his designation to visit
Europe upon the mission above indicated. Let.
| ters were also addressed to our Ministers az
London, Paris, and Berlin notifying them OF
Mr.. Marbles visit and asking their cooperation.
A reply was received from Minister Phelps, un-
| der date Of London, Oct. 20, 1885, in which he
gives the result of conferences by himself and
| Mr.. Marble with the leading members OF her
Majestys Government, and says;
| "From these, as we'll as other sources, am
| satisfied that the British Government Will in
| fexibly adhere TO their past and present policy
| in respect to coinage; that they will not depart
| from the gold standard now and so long estao-
lished thai they will not become party to any
Of
| alton OF bimetallic standard at common
| ratio between gold aud silver for the purpose OF
| making both an unlimited legal tender nor
adopt such double standard in Great Britain.
On this point both political parties quite concur,
and believe IL either were to attempt to intro
duce such a departure from the existing money
| standard it would be driven out of power by the
/ force Of public opinion.
| Oct. l. 1885, expresses his opinion that:
~While France would gladly receive the intel
| ligence that the United States would adopt the
French ratio Of fifteen and onehalf OF silver to
/ one Of gold no consideration Of future conse-
ouences could induce her to adopt the American
| ratio of sixteen to one still less would she
| adopt any higher ratio to assimilate the present
commercial or market value Of silver with the
value Of gold, nor would she consent at any rate
| now to permit an unrestricted or even a limited
| coinage Of silver at her mints. The present
| maintain, IL possible, tlfsetwo metals at their
/ present ratio of fifteen and one-hah to one, in
/ domestic circulation and international ex-
Il CnhnBe.
| Mr.. McIane says the facts obtained naturally
/ suggest the United States the greatest gold and
/ silver country in the world, should suspend its
silver coinagein order to utilize IL, not only for
/ circulation but part Of its Treasury reserve
| Minister Pendleton in his reply, dated Berlin,
October 10, 1886, gives his conclusions briefly as
| follows:
aThe adhesion Of Germany to an international
bimetallo 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 now to be predicted. The cooperation Of
Germany in such a union may be sought with
| fair hopes OF success whenever 1t becomes pos
| sible to include In such n union England and
Russia, the former Of which seems to cleave
| tenaciously to her gold monometallism, while
the latter staggers under the evils Of depre-
| ciated and largely 6uctuating paper money.
The adhesion OF England at least, Is certainly
| now and would probably for an indefinite period
| be regarded by Germany as n sine qua non.
| Consul General Walker, in a letter to the Sec
| retary of State, under date Of Paris, Aug. ~,
1885, reviews in detail the changes Of sentiment
| Of foreign countries in relation to monetary
| matters as shown in the proceedings Of the con-
ference and expresses the opinion that nothing
| will so much hasten the adoption in Europe OF
| the monetary polity which we desire 70 nave
| adopted as the suspension of silver coinage in
the United States. Tho correspondence also In
cludes q copy Of agreement entered into at
| the Paris Monetary Convention. the essential
| parta of which have been published.