New-York tribune., 1890-04-02

COINAGE COMMITTEES REPORT
Boston april 1T. Jefferson Coolidge delivered las.
wcek address on silver coinage before the Pan-
American Congress- in which he di,,ented strongly
from the conclusions Of the committee in favor Of
is eci.tcndcr coin in all the countries represented IN
Tie Conference. Ne approved OF the adoption ol a
currency Of unifosm weight and lnene,s. but con
lemned the proposal 90 make the coin legal tender
at least until the efforts Of the United states to es
iabli,h bime.alii,m have been successful. TIE fol-
lowing extracts emDody the hes, point, Of his rinea
again,; the conclusions Of six members Of the com
mittce:
The states Of south America are not on gold basis,
som. O. them have gold "A legal tender. ana aV.e
~ them have silver. ana some nav" paper, Dnt u;
proof that they are not on sod basis j. IN r't -
exchange between them aud ENGLAND. II they I, WEI,
Ju xOld basis hat exchange could never Fsf % ~
rhe cost Of the transportation o. th, CON. ID rem, M
Tho exchange reprecnts Ia many o the colh,tI' t.;
difference between the value of tie pound sesn ai1
value q their deprecs,sd ptperM & M n r.os oGr gol
the valle Of the gold pound sterling and the -ly'r
uder these CIRCUMSTANCES the endeatOi 10 make I
silver pass legal tender IN al! tie Am'F'a9 !;
- "udcavor T. naAf liver Su,4s. ~, lo,,r+rv
and a god mon0ncfal!i,t country. Ihi- ecnllem,n
s in my judgment. practical iMI,,''D'r 'r' ,li' ~
because the United >tafe- import, ei-ly m2' s HOE
,an fl e. ports fIOm ilc southern countries uo ,'''
,yould not flow 10 the United state. bet Wol'i -
ai..cd the other way 10 pay oF iHr u.l1 '"un - ~ ",
ne cyccss of lmDrtati0n.. II al! countr, were on
lao sane standard tItt WoAh uf NI'' ht' - i'N-
thc southern ccuntFe- are % apcF or M riV'r
here would be no proat ~ ',ad,- s,.g , m ,r,
Whereas If the silver dollar VA, sent to tle ,nipl
STATES. as long ss the itea 9's.e' = ,y Va + n.
was legal tender for gold a. - Yo.. - t"' , ny, ,b
per cent Not dollar would be u'@i - pN rt,
coad be paid bv gold merchanii,.. ana ti,il go
~ rcrchind!se could be bought in tne ti'I 80 -
for twothlrds Of what j. wjni cost IN hnsan' or
in the other markets OF the world. .,,...
My learned colleague, al ASSUME th1t coin- ne,
,ba v,ne OF silver until it became equal - eef'
rhat s an assumption which j.. AZ ti' D. u,.'
such wonld not b.. the effect for the Latn ni. ni.
found that with free 'onase ei sl.lrf ,' r,.i
deprecated In comparison VITA s'lf every CAV .,"
/ fnev we're Obliged - stop the coinAg'. L., &."
men the United states. being ia ltF-o,' p.y'.'e -
their currency most anxious 10 see me '''Is -:
slve- raised unu can ricui,'fe WIZ 'is.f,,n,
Now what is bimciaiism hnci"4i-h j. 49, -, . ~
gold and silver Jointly a. clfrei,l '' TIA l., tbs
yanc OF silver relative To- god iydil ltDe ANA 80 .s.
The concurrent uses Of both metals ~ AL ,i' ,,f '
ID; such a - .ae. Ia other words. ial -'. 'l.l ~
.oins should g.fenia,e i,, a, tio ,,,t,e
An agreement with England 10 iN "A cer.' 'm ', iay
for silver and sold "cah nf a'oiyol al one~
This lie Ini.ed state, hope 10 G.. ihy o" Pc. ine
the gold standard on which they no." "'s .,sr T.,
o,hsr word tlcy want an expansion " ,"r. -.', , '
no. a contraction. II man N'if ~ p'-' ni- ,r
Back nj the Treasury AID nNe '.N'. IN g.n,.t
sd of r1ld II a bank refused 10 tlAe Oh '@p1s
Silver certificate, aud pay ont a. equiv a. 'hl .i ,
II he Vncd state, were 10 refuse e. a,sepe ,.. 1,Ngs
TArN that gold more valu'ole uhsu s.'f.,i hc-
forc hoard all the gold and ne only -lveF IN - ,.s
to reserve 10 himself the prom, ' =, = r,r.,nlur
silver. In other words -oii "o"T - ,np 80 hurd-d
+ and What would bee the eject Inc sHr' MD -
m''n.~' r.,, w fui crcula,ln al once. and you "9ah
rvc ie en,i terrible contraction % cuTT'n ''iD
lent To al least one nam oi. tSr Is properly would
"nly I'll f,r one half. whereas the it'e NAlr 81 '
o. % a sle,lt SCI q wor, to coin snhc ent ,'es
u,I ical tender, g take ne pa , 'ii,~ .rS t'o
Ic, cmacr, would he depccaicd ana eroa,s ', sd ~ n
,enir and confusion would en- -ir N..'' w. tnoir W.
80 .'',,,,i Incoming that Oi silver 1T 'Dei. -
uoH ,". - a'ini.a H. cannot aaord to take any r'A'
ana l,' I" G''' inere are Two ylsr, now before con
vi w''' '''' ,,h ~ which ae intended - e,laN.i'n '.
,nctal-u td - 3 r'eff ef i Bra, is secretary VIA
S,ai,. which is before The Di'' ~ - N fl Is, inen
tle o,her one ..na,nr Jonc. In tle senate. They
dTcr I'm many pfrtuir' Ui a. ,f vt % .p,,5..,e =
iir ,. ' of me = cent silver dollars II we lsas'
' lion of either the Administration or oo 49,
they a. n' . .O@ Sod not be- lcly agree - coin
,',,. tu '', and 10 allow other nations 10 com lo'
,,,, la.ol ,.rdtr silver dollars. .,a,
'n' r majority of The committee propose hat t!e % Go.,
, .h,mN be iill tender nave siu' W 9.Vu "a -
,r. thr United states could not ALLOW ,hi' NJ ~ Tt.e
.i minority report Of esteemed friend MI ns'o.
t.rdcr force mp to lfN dollar, Sow Cow = uI,iti .-i
ere ,unci.nt to keep il. b> the credit "i ,.c i ny h.,
80. ,I mar Il would come here ana ~"N Y,'.r P -, %
DN' an, a., ~ The country iu-t the same A. 7, Il wets
"'N l o ~ ,ndcr II matiug il legal tender mp I'D
i,rs vrrr not sufficient To keep IL 40 par ~, 20
.,' I,r,,,,e tho railroads aud the miner, "Iu u'
uP,, ,,,,e,. yho nav OH their help w,eeiy or IN,
"spi, in .iiu, lo,s than lfiy dollar. Nono pu.'t
,etS, ~ liver ana would pas their opsr.iiVe,
Ice, thnn hcy we're fairly entitled I" rec ,l,ors
may say thai If II we're egal teoe' @ up ~ ~ II in ths
the operative mi-ht - u "s I.'Y 80 navmsnt Of rent.
itcrs,nst,iv gentlemen you can compel man 10 tc-
c.ire n silver dollar fnr hundred cents p". W" % ti
not compel lin 70 sell his cs0eerle, or na' m t.c,ts
,in,birv at a. low price II he Is paiu I'D ovpV
,"nr 1s II he were paid In gold lie would SIMPLY
rasc the selling price ot ever, a'oc [ ~ ha, ter, ara
rrvs dnnhfs ms 10 the c0nstitut0nahN OF an att "i
The Government by which all the contracts Va ~ ,.
i,rr mot i'm his own country. Int in totally iorlEn
country. That this point would bc ltlei ','I ha,.
to Joe settled by the supreme '"nrO "i INC H''' W
'0 An arsument has been used several time, tiai,
~ we were called upon to consider ,'e .p Yiop'Y Y
~ q common silver CON- we could not 'ohsiu'r an,
other question. do not tiiik uic.c s any loi,s ~
,h". suggestion because the United states IN assl,
~ 10 consider. must have had IN we" t'itt VIC 's ~
"ousider tnst was desirable Ia adopt 'ohil,n
} .vcr coin and that We would tlcu DC very lhN,y
,,,sf some other manner Of establishing an inter
." .oossl ltu as my rccOmnc ndatOn now reads.
his argument would noi apply cannot close the Jew
remark, without sngse,IhE int even h .'s ta
,n en, we siul have means Of carrti Ing on commerce
bswe,n the various countries without much dineaN!
frnn, the various moneys employed IN the u.hsrrn
| Americas. ~ hvorins the e'tanhsnmeh' :" - mss
| bapLs Whose principal duty II would be 10 turit>n
exchange In every principal town oi inc AlSs rs ~
on The other countries at legitimate rates; me re-
mort on banding will soon be In. ana VIII. II adcPleu
trust prevent the failure Of common intcra'iohani -
iessI coin from being injurious 10 business as q
,ntSht AZ first appcar wish I distinctly understood
that approve entirely Of all the Kep1neS OI ,s
A%cS,s .Is wssn dop"Ns oOeeCn is to the easnd
clause