New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-25
GEENAX EANKERs OF SILvER.
THY THINK THE PASSAGE or THE FREE 'OIN-
AGE ACT WOULD DE'TROY AMERICAN
IRrnlT AnR0A

CREDIT NbNlND.
Te~in March af.-Thc dlscu lion in the American
Congress Of the silver question ha, attracted much
attention In Germany. The newspapers nearly all
agrce in the cef that free coinage Of silver would he
q bad thing for The United States.
DR. Koch president ~ the Imperial German Bank.
The great financial Institution ~ Germany. aid 10 the
Associated Prc-s correspondent that Germany would
take part IN monetary convention. provided Great
britain agreed 10 participate. 30 f.r. however /
lave not been Informed ~ any -uch proposed con-
| ference BY our Treasury Department" aid Dr. Koch.
"a, surely would have been the If any Official
invitation or even intimatlon had been received from
the Irl;cl states Dr. Koch did not think II hkcly
that ENGLAND would make chang" In her currency.
| England IA, 1t times horctical lcauIncs toward
silver I,atonic love for IT, h" aid. Tut when II
comes 10 practical test she viii stick TO her gold
LaI-.7
What do Won think Will be the effect Of the present
movement for gold coinage In Australia -
The law will be passed bel ond dohh and II VIII
uniinic OF sin against the International
ncccptnuon of silver curcncf.'
TO what do you attribute the present movement Of
gold from America TO Europci'
@It /, very strange" said DR.. Koch: last summer
and fall We expected great gold export To America
IN pa, nen for your crops. hut instead yon Keep send
ing cold 10 Europe. | think II Is due 10 the heavy
,alcs ~ American securities in the London market.
which arr probably caused by the desire 10 realize on
the high prices at Witch these securities arc row
quoted
Dr. Koch asked the correspondent to contradict the
statement extensively circulated in the French and
English press that the Imperial Bank kept Black
LIST In which we're inscribed the names Of German
bankers who drew gold from the Imperial Bank for
export.
Dr. Koch thinks the passage Of free silver law
would have a bad effect American prosperity. Any
sudden change I'm the currency has disturbing effect
and 20 much more the change t. II bascr metal. The
result such step would be 10 turn the current Of
gold sill stronger toward Europe, to lower American
credit aud ultimately 10 hurt those who expected
the greatest benefit from the law.
Dr. sicmcns is the director Of the Dcnische lank
The largest private banking corporation In Berlin,
and "A bank which does heavy business with America.
lie is also pr mncnt member Of the cirh'tat When
called upon b. the Associated Press correspondent.
Dr Siemens expressed his belief that Germany would not
accede any for the reconciliation Of silver
As TO the Of free silver coinage In America. 1t
would make America silver country. Nobody
would be benefited by It. The farmers would receive
more dollar, for their crops but these dollar, wouid
have less purchasing value. and In The end they would
lie worse OF. You stnte two nNOms which
will cover the whole casc.' said DR.. sicmcns. The
Grst Is that change Of currency il always bad but
that the change to an inferior currency viii infIct
especially heavy losses on The country mailing IT..
The second axiom Is that In the change 10 Inferior
currency the workman the poor man, Is tn principal
loser. III, wages do mol Increase lc gets tic ,ame
number of dollars but he cannot bny rs mnch as
formerly for them.'
DR.. slcmcns had also noticed with surprise tho con.
tinuous export Of gold from America. Like Dr..
Koch, he had expected a contrary movement.
DIR. Barth member Of the Rechstag aud authority
questions OF national economy said that Germany
did not dream Of taking part In any monetary con.
ference. least not with the view Of the rehabilitation
Of silver d" And ! think" he snid You americans
that direction"