The Delta independent., 1893-12-13
A fALCACY.
It Is Nonsense to Assert That This Great
Country Cannot Do What Holland and
tho Dutch East Indies Have Been Doing
ZS.r


It Is Nonsense to Asoert That This Great
Country Cannot Do What Holland and
tho Dutch East Indies Have Been Doing
FOR Years.
Concerning one CT the stock argu-
ments of the gold standard camp-to
wit, tina. ,7e must come to that single
STANDARD because nearly all the rest OF
the world has como to it, and, further,
that without an international agree
ment we cannot hope by ourselves to
establish ratio of coinage between
gold and silver and maintain them at a
parity, the New York Recorder re-
maflls.
"Now it SO happens that the commit
tee appointed by the British parlia-
ment to examine all the monetary eys-
TENS of the different Countries of the
world (Snown as the Herschell commit
tce) has distinctly reported that this
theory is not tena BILE; that the facts do
not Lear it out; that, on the contrary,
the different nations have adopted and
are now using wide variety of mixed
currencies and are able to maintain
them at n parity of exchange in spite
OF their variety. Says the Herschen
committees report: Other nations
have adopted different systems which
appear to have worked without diff
Guilty. and have enabled them to main
tain for their respective currencies q
gold standard and a substantial parity
of exchange with the gold-using coun-
tries of the world
THE same report goes on to state
the different currency systems which
prevail in different countries, showing
conclusively that no international
agreement is at all necessary in order
to make the currency standards of any
country perfectly safe and convenient,
provided they are suited TO that coun-
try's own needs. A parity of exchange
with gold-using countries is easily
maintained by Scandinavia. Holland
and Canada, which have but little or
no gold coin; by countries like Canada
and the Dutch East Indies, which have
no mints and no gold coinage; by
France, Belgium, Italy and Spain, ard
also by the United States, which freely
coin gold but not silver, and which
have mixed currcneics, partly of gold
and partly Of over-valued silver lover
valued, that is, according TO the gold
standaTd); by Austria, which denies
free coinage to both silver and gold,
and has 4 currency of inconvertible
paper; by the West Indies where token
silver is legal tender to an unlimited
extent; by countries like Holland,
whose baniSs part freely with gold for
export and by countries like France,
whose banks refuse to give up GOLD for
export
''Under all these various conditions,
so this British committee reports, these
countries have all been able to niain-
tain for their respective currencies
gold standard and a substantial parity
Of exchange with the gold-using coun-
tries OF the world
And yet the organs of the gold
standard have the assurance to tell us
that tie United States cannot go on
nsing silver on any terms and keep !.
1T n parity with gold without first get
ting an international agreement,
which means without getting the con-
sent OF England. In other words, the
United States is not strong enough to
do what Holland and the Dutch East
Indies have been doing for many Years
past and are now doing"