New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-12-22
THE SILVER PROBLEM IN ENGL An

THE SILVER PROBLEM IN ENGL And
The report Of the British Gold and Silver
Commission. which was formed to investigate
the causes of divergence between the two
metals and to recommend a remedy, does not
appear satisfactory to either OF the parties
renresented. Six members of the Commission
were I'm favor of a single standard of gold only,
and they adhere to their opinion. SIX were IN
favor of bi-metalsm, and they also adhere
The report is in three parts, Of which the first
embraces the information gathered, the argu-
ments on both sides, and the only conclusions
mon which the entire Commission could agree.
Part two embraces the findings Of the advo-
Gates of gold standard and part three sets
forth the opinions Of the advocates Of BIZ
metalIsm. and II is considered that the reason
ing on both sides is presented with unusual
skill The Commission agrees only so far as
to say:
The true EXPLANATION Of the phenomena which
are directed TO investigate IS TO be found in comb-
nation Of causes and cannot be attributed TO any one
cause alone The action Of the Latin Union in 1873
broke the link between silver and gold which had
kept the price of the former, as measured by the
latter constant at about the legal RATIO and when this
link was broken, the silver market was open TO the In
Huence Of all the factors which 90 70 affect the price Of
a commodity. These factors happen, since 1873, to
have operated in the direction of fall in the gold price
OF that metal.
Probably few outside the Commission will
dispute this conclusion, and fewer still regard
it as exceedingly valuable. 1t scarcely justlhes
the report telegraphed to this country some
time ago, that the Commission had substantial
ly agreed in favor of bi-metalism. But four
members of the Commission who signed part
two recommend an issue of 50 80 and IS small
notes based upon silver. The other two dis
sent, and it does not appear that the six who
signed part three would accept this half meas
ure as a remedy for the evils which they be-
Heve the partial demonetization of silver has
produced
The argument against bi-metallic compact
is not new. In effect it is that the evils Of
the existing situation are known and can be
endured. Bat the change contemplated APP
pears to six members tremendous" one,
which they dread as a leap in the dark" and
they also hold that the mere apprehension Of
that change in the public mind would involve
some danger They "feel that the matter
needs more discussion" and suggest that the
Government Of India may close its mints, and
TO large holders OF the metal tie effects might
be serious, so that foreign governments might
agree to open their minis to a greater extent if
India would agree not to close its minis for a
term Of years. This is somewhat grotesque
in view of the fact that 1t is English commerce
with India almost exclusively which would be
affected by the performance threatened but
other nations exclusively are desired to take
action in order to keep tho Government OF
India from doing mischief.
The advocates Of bi-metallism urge that the
tremendous changep is merely return to the
situation prior to 18I 81 that the existing ten