Savannah morning news. [volume] (Savannah) 1868-1887, 1886-01-08
ANINTERNATI0NALRATI0
THE FRUITS OF MANTON MAR
BLE'S MISSION.

|
President Cleveland submits to the sen
atcthe Documents Relating to the In-
vestigatiOn I'm Europe of the silver
Question-The Reports OF Ministers
Phelps, Mclean and PendietOn.
WAsHIHGToN, Jan. THE President
to-day IN answer to a resolution adopted
| by the Senate Dec 8, transmitted copies
of documents showing the action taken
| by him to ascertain the sentiments OF tor
eign governments in regard to the estab-
lishment of an international ratio between
gold and silver, The correspondence is
accompanied by letter from Secretary
Bayard to the President Of which the fol-
lowing is a copy:
| To the President:
| In compliance with the Senate resolution OF
| Dec. o, 1855, transmit with this letter sundry
4 documents relating 10 the action taken by
| you. through this department, to Obtain in
| formation at the financial centres of Europe
! IN respect TO the practlcabllity OF establish
| ing such an international ratio between gold
| and silver as would permit, aad induce free
coinage Of both Of these metals az the mints
| or the United States and Of the leading COM
| mercial powers of Europe.
SUCCESSFUL INQUIRIEs,
As condition precedent to Congressional
| action upon this profoundly important sub
! lect attainment of knowledge and intention
| in relation thereto OF those charged with the
| financial conduct and safety OF the leading
| commercial nations of Europe has been
| sought and believe obtained. Whilst the
| policy or this government and the eX-
| preston OF Legislative opinion has been
| fully recognized and amply eN-
| pressed IN recital of the acts and
| resolutions OF Congress, as Will be perceived
! IN the copy of the Instructions which accom-
pany this letter, and constant and candid
| avOwal has at all times been made OF the
! earnest desire OF this government TO obtain
| and maintain unlimited and free coinage Of
| such ofthe precious metals at such aratio and
I equtvaency of their valuations rs shall lead
| TO the Withholding OF neither from the mint,
but to secure metallic currency whose vol
ume can be supplied from the worlds produc-
/ ton of both silver and gold, and TO that end
to Cooperate internationally with foreign
| governments.
/ SEEKING DILIGENTLY,
Yet il has been the object OF this depart
| ment and its agents, whilst aVOWing our
! readiness to cooperate, not so much TO i'm
| press our own opinions and wishes upon
| others as to obtain weli-cOnsidercd and lnde-
pendentviews from most influential. responsi-
bic, and competent sources in order to lay
| before Congress, first, the actual status of
| metallic currencies in the respective Euro
pean countries and secondly, the intentions
| and policies of these governments IN relation
| to the subject. with the details of their action
| upto the present time. : II Is believed that the
| accompanying letters from the Ministers OF
bnc L ulGtu States 10 GreaJ bFlbAins rFhubts
and Germany, respectively, summarize ana
| convey the true condition, opinion, ana inten-
! tiOns Of the governments aud people TO whom
! they have been severGly accredited.
MANTbN MARBLES WORK.
More efectualiy to attain this a gentleman
| specially eOnversant with the question, a
| thorough ana accomplished student OF finance,
! was selected TO act in conjunction with the
| resident ENJOYS, and by personal conference
and confidential urgency TO ascertain the
| present opinions and purposes of those gov
| ernments in respect to the subject in view.
! Mr.. M arbe has thoroughly availed hmaelf of
the unusual opportunities thus Afforded, and
! the information so gathered by him in quar-
! ters most authoritative and reliable, and from
sources deemed entirely trustworthy, has
| been canvassed with diligence and care. The
! results are plainly and succinetlV set forth In
| the letteTs. now transmitted, of the Ministers
in conjunction with whom he was instructed
20 act and who were fully possessed OF the
| inform atl0n 50 acquired,
THE WRITERS or THE LETTERS.
No separate 'eport by Mr.. Marble has been
made, because the results OF his investiga-
tons appear fniy in the letters OF Me,srs.
| Phelps, McLane and PendletOn. The convOca-
| tiOn at Paris in June last OF tho Monetary
Congress Of the delegates "a q C5xg2ean
States composing tho
/ deemed an opportune oe,s~-, ----ked datyx
sion of interest by this government
/ question there considered.
| George Waller, Consul General of the
| United States at Paris, a gentleman well
versed IN fiscal science, who has on other oc-
casiOns been selected by this government 10
estigate the question of silver coinage In
Europe, was requested by me to attend the
! proceedings OF the Latin Congress and make
| a report thereupOn to this department. Mr..
! Walker has inteligenily performed the duty
assigned TO him, aud his communication To
the department containing the history OF the
| proceedings Of the late congress and his views
| IN relation thereto Is annexed.
MR.. RLANE's COMMUNICATION.
IFroro Mr. MaTaua otfr RTiniafnv al Baria I
| have received, In its full text, a copy OF the
| late monetary convention settled between the
states of France, Italy, Switzerland, aud
/ Greece. and also a copy Of the supplementary
/ article ny which the adhesion OF Belgium WAS
/ gwen TO the alliance. Accurate translatlons
| Of both these documents accompany tins
| letter. Respectfully submitted,
r. f. BAYARD.
DEPARTMENT OF STATE, Jan, 7, 1886.
ENGLAND SOLID FOR GOLD.
A letter was received from Minister
Phelps under date OF London. Oct. 20,
/ 1885 in which he gives the result Of con-
ferenees by himself and Mr. Marble with
leading members OF her Majesty's govern
ment, and saws:
From these A. we'll as other sources am
| satisfied that the British Government will in
| neMbly adhere To their past and present policy
/ In respect IN coinage: that they VIII not de-
/ part from the gold standard now and 80 long
/ established; that they will not become a party
i 10 amy international arrangement or union
/ for the creation OF a bmeJalic standard aa
/ common ratio between gold and silver for the
/ purpose Of making both an unlimited legal
lender nor adopt such double standard In
/ Great Britain. On this pOint both political
! parties quito concur. and ] believe N either
! we're 10 attempt TO introduce such "a Depart re
] from the existing money standard 70 would be
/ driven out of power by force OF public opinion.
FRANCE OPPOSED TO ANY CHANGE.
The reply from Minister McLans, at
Paris, dated oct. !, 1885, expresses his
| OpiDi0n that
While France would gladly receive intelh.
| gcnoe that The United state8 would adopt the
/ French ratio Of ib1S 90 silver 30 4 Of gold, no
| consideration ~ future consequences could
induce her % adopt the American ratio OF 10
/ to i. btii less would she adopt any higher
| ratio to assmlRte the present commercial or
/ market value of silver with the value Of gold,
I nor would she consent 90 any rntio now 10
permit an unrestIicted or even lmltld COM
| age OF silver o. her mints The present pur.
| pose of her government and peOpk ie 10 main
enf ratio Of l5k 70 in domestic circulation
/ and International exchange.
/ GERMANY GUIDED ny ENGLAND.
/ Minister Pendetou in his reply dated
/ Berlin, oct, ~. 1875, gives his conclusions
/ briefly az follows:
The adhcs'on Of Gormany 10 an interra-
| tiona himriallic union such as was proposed
/ by the unitel States aud France Boa 1881 can
/ scarcely b8 expected, 10 seems to me. within
/ aus limit of tiipo now 10 boz predicted. the
! corporation " Germany in such q union nay
} HfnHIfH with fair I.lraa nf HunfnHN rtrrnuar