Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1892-12-08
FOSTER IN SILVER.
Replies to Six Questions Asked
by the Senate.
CONDITIONS FOR PERMANENT RATIO

Foreign Cooperation n First and Supreme
Necessity-What Customs Duties Are
Paid With-A Bill to Prohibit Immiera-
tion for One Year and Another to Change
the Date of Meeting of Congress-Con-
troll of the Senate Uneertain-Civii Ser.
vice Reform-capitsl City News Items.
WASHINGTON, Dec. 7-On July 80 last
She senate passed resolution proposed by
Stewart Of Nevada calling on the secretary
Df the treasury for answers to six questions
relating to the finances and financial policy
Of the government. The answer of the sec
Rotary was laid before the senate yesterday
In long document, which was ordered TO
be printed. The secretary says it is impos-
sible to classify the kinds of money in
which internal revenue taxes are paid OF
customs dues collected in the year ended
June 80, 1892, s219. 534 (1 of / per cent?
were paid in national bank notes. SOL 49,
7o2 $40 per cent J, in United States notes;
81, s6s, 52S t2l.4 per cent.) in treasury notes
Of 1890; $S6, 49s, 9s6 COZ per cent?, in gold
certificates; $27 1925, 664 Q5.s per cent?, in
silver certificates; 81, 4s6, 537 (65 per cent },
in gold coin; 81, OBS, eS2 O6 of per cent. }, in
standard silver dollars, and 500, o42 in sub
sidiary silver.
Remarks as to Gold Coin.
On July 81, 1892, there were in the United
States treasury $40, $50 622 gold coin and
81, TBS, 500 gold certificates At the date
nearest to that of the passage of the resolu-
ton the national banks held 500, 723, 0s3 in
gold coin and $S5, $50, 100 in gold certifi-
Gates, leaving only IS, S99, $40 gold coin as
the ascertained holdings of other banking
institutions, The total amount of gold
coin in this country on July 81, 1892, as es-
timated by the director of the mint, was
1851 ,12r,9S2 No mention is made of gold
bullion.
Two Questions Unanswered.
The amount of gold derived from the sale
OF bonds for redemption purposes, which
remained in the treasury July 81, was s4s,-
$40, $40, but the amount available for the
redemption of the public debt was Sic, A.
391, greater by SIS, AZ, 1911 than the amount
originally obtained from the sale of bonds
for redemption purposes. Two other cues
lions were asked the secretary in the reso-
luton, to which he says no answer that
would be conclusive or definite can be
given. In submitting the following Secre-
tary Foster says they express only his pres
ent personal view.
Conditions of Permanent Ratio.
Afn my Judgment. " he says, at is impossi-
BILE to establish any ratio whatever be-
tween gold and silver which would perma-
nently or for any length of time preserve
substantial equivalency between the coins
of the two metals, except on one of the fol-
lowing conditions;
a. It is probable that a limitation or
suspension of the coinage of silver in the
United States might accomplish this pur-
pose.
-. The adoption by the United States
and the principal countries of Europe of a
monetary convention similar 70 that of the
Latin Union before the countries COM
posing it limited the coinage of silver
Foreign Cooperation Necessary.
II am of the opinion that the bi-metallic
system adopted by the United States. IN
der the administration of President Wash
ington, by the law of April 2. 1892, and re-
adjusted and maintained under admins
tration of President jackson by the law of
June 2S, 1894, and Jan. Is, 1887, cannot
again, without the cooperation of the
principal countries of Europe, be estab-
ished in this country on a stable basis,
anyway"