The Helena independent., 1892-01-12

formidable power, and since MIR. FOster's
| speech Mr.. Goschsn knows it. Whether be
knew before that speech do not know, but
certainly did not know of it, and it did
not surprise me when I saw Mr.. Goschen's
| nrtless suggestion of new monetary CON
! ference. Now If We are to have new
| monetary conference venture to hint that
| it is not necessary to have a lot of grand
| speeches in Paris!
| We all know we'll by this time what We
want. We want to have silver remonetlzed
| in Europe by the opening Of sufficient
| number Of mints in Europe to assist the
United States mint in upholding "the par
ity of silver and gold as money at tho old
ratio Of 151aa to l or 16 to /, no matte1
which, by certain nations agreeing to keel
limited" coinage of both silver and gold al
| All agreed mintage sufficient to pay the cost
of manufacturing the coins.
1t is for Mr.. Foster to judge how many
nints and what mints he requires tho as
sistancs Of for Mr.. Foster is most unmis-
takably master of the POSITION because
with his United States treasury gold bonds
he could force England into "bi-metalllsm'
it he chose to use the power which congress
has put into his hands. / venture, how
ever, to make to MIR. Foster the following
suggestion: Let the government of the
United States make friendly communica
tion to the governments in France and in
willing to open their mints for the uniim-
tied coinage of both silver and gold into
"legal-tender" COINS if the United States
agree to open their mints in the same way.
There is little doubt that France and the
Latin Monetary union would be willing if
Germany agreed, and us for Germany she
has found the value Of her old silver thalets
which are still leRal-tender coins. in pro-
tectin0 her store Of gold, and it is more
than likely that she will agree to coin "legnl-
tender silver money! at the old ratio Of 1915
to l. But the European nations will cer-
tainly stipulate that the American ratio
must be the same and must not be 16 to /,
otherwise all the silver would come to
Europe, ns no holder OF silver would give
sixteen weights OF silver for one of gold
when hs could get the same weight of gold
in Europe for 1515 weights of it.
I hope Mr.. Foster and my American
cousins generally will not think it i'm oerti-
advice on this question. 1t is question l
have been familiar with for nearly fifty
years. Sir Robert Peel's bank act of 1874
(our preaent bank act) is forty-seven years
old and denounced it MS an net of folly
when it was passed and predicted it would
break down. It did break down in lS47
(only three years after) and in 1867 and in
1865. and nearly every year it producsa
Through no fault of the bank managers)
great loss to English commerce, and I
would gladly smash it up now if l could.
At the same time am more Interested in
the remodelization of silver than in do
molishing Peel's silly not, and therefore
have respectfully offered these few words
Of friendly advice to Mr.. Foster. | ask
him to remember this The United States,
with the help of France and. the Latin
Monetary union, are strong enough to
maintain the parity of silver and gold at
l51a to even without the aid of Germany,
but If Germany will join SO much the better.
Az to London, let her alone. We are too
evenly divided to force bi-metallism to the
front, and foreign dictation, even from our
cousins, is apt to make us stand shoulder to
shoulder. Let Mr.. Foster remember that
there will at all times be 2 nice little store
of gold said to bs'' looked up in the vaults
Of the Bank of England. but Mr.. Foater and
his successors have and will always have "a
duplicate key" and he can unlock TINT
store whenever he pleases by selling United
States treasury gold bonds in London for
Bank Of England notes, with which he can
carry off jupt ns much of tho gold ma he
wishes. GEORGE AUGUSTUS HAIa.
Biarritz, France, Dec. 10.