Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-04-06
THURSDAY. .........APRIL 6. 1898.
B,metallism in Europe.

On this side of the Atlantic we are in.
rhnod TO look upon all the fnanciers OF
the other side as monometaliists, notw1th-
standing that 30 many experts in financial
science hold the views of Sir MoBEroN
FRrwHN and his followers. Undoubtedly
the leading statesmen IN Europe are mo-
nometalists; yet the fact saems to be that
IL has been SO long since m0nometallism
became the prevailing monetary ism
in tho Old World that the meu now upon
the stage OF action there have never stu
died the subject. They hold their fnan,
clal theories by inheritance and not as the
result of investigation and study upon
their own part. They assume that gold
can as well be the peoples money when
there are ten thousand millions OF dollars
of values 10 be measured in that metal as
when there were only two thousand mil
lions Of dollat, OF values thus to be mea-
surcI.
4 dav or two Rgo we received from
Riarritz. France. "for reproduction in
whole or in part and for criticism" an
open letter from q. 4. HNd, Esq. Cor shall
we say 81. HuGY), in which he discusses
the silver problem from what we might
call an American standpoint. Mr.. HAIG
adyocatesa plan which. 80 he thinks. might
secure the adhesion Of England, not to the
"j0int gOld-and-silver standard" but TO
such on increased use of silver as would
make IT safe for the United States, Mexico.
the Indian empire. the Latin Monetary
Union. and the whole Of Continental
Europe possibly excepting Germany and
AUSTRIA to reopen their minis to the IN
limited coinage of both silver and gold ct
the old European ratio OF 15ls weights Of
silver to l weight of gold.
Mr.. Haze assumes that the Brussels
Monetary Conference Will reassembIe on
tue 3Oth OF Nav at Paris. He begins by
arguing that every nation ~ at this mo-
ment threatened with the wholesale man
ufacture of real silver coins--eXact imita-
tions of the genuine silver coins in form,
weight. and alloy; so well made that even
experts could not tell the genuine from
the counterfeit. Il does not appear. how
ever, that the genuine silver coins have
been thus counterfeted during the long
period of their acceptance at their face
value.
Mr.. HAIG makes at least one new prOpo-
sition-.namey. that when the mlnts of the
United States and Mexico land other coun-
tries) shall have been opened TO the free
coinage Of SILVER, silver mining shall not
be permitted 10 be carried on without the
approval of the governments concerned.
If It were allowable thus TO close all the
mines of the world it would seem that sill
Yer ought soon 10 rise Ia value to parity
with gold ZIG to II.
II we had room for il we should like 10
print Mr. HNG's letter in full, no, because
we concur in his opinions except as to the
desIrability Of securing a more general use
of silver and some Others of his nOtions),
but because it indicates how the European
world is beginning to study the silver
problem. He evidently expects his argu-
ments to have some weight in the Paris
International Bimetailic Conference. But
the fact is that it rests with President
CLEVELAND 10 make that conference either
total failure or q valuable contributor TO
the worlds information upon the subject
of its deliberations. Ii he sends bigoted
monometallIsts to that conference, or fails
"a send any commissioners at all. the sll-
yer problem will have to wait years for its
solution