The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1894-07-23
SILVER IN THE NORTH.
JAMES MONROE, Il FINANCIAL 4U-
THORITY, LIFTS HIS YOICE.
A Bimetalic Policy Independent of Europe
Would Capture the Rich Trade of
Central and South America.

New York, July 5.--(Special)-Snce the
address of Senator Patrick Walsh, of Geor-
gia, at the Tammany celebration on July
4th the people Of New York city and state
have given more consideration than here
tofore to the southern school of finance.
James H. Monroe, the we'll known author
lty on financial questions, contributes TO
The Daily America article which Will
still further direct thought into this chan
mel. Mr.. Monroe says:
There are manv well meaning statesmen
who state they are in favor Of bimetallism
provided we can form an international
agreement with the European countries,
whereby an understanding can be arrived
at for the establishment of universal
standard of monetary unit. We might, with
the same propriety, propose to enter into
an international agreement for the forma-
ton of government system under which
to carry on our political affairs. Or, we
might propose to consult the governments
of Europe in regard to the kind OF mon
etary system we should establish under
which to carry on our business relatlonS at
home and abroad.
"Outside of the Latin union system, there
is not any country that has not different
kind of money, both as regards Welght'
finenesS denOmnation and value. III tnefe
was possibility of the commercial nations
coming to an understanding upon so momeh-
tous question as that OF universal
metallic money, there would be some pro-
priety in our deferring action untll the UNI
versal quality of metallic money could ne
agreed upon. But as no such poSSlplllly
exists it devolveS upon us, as an lhuepei.
1ant renubIic to establish a system OF
coinage that suits our convenience anu 10
best calculated to cOnfrom with our ~
terests and promote our productive ehoit9.
."rhe English government did not consult
us when it decided to adopt the gold stand
ard: neither does it pay any regard 10 ot'i
reuuests to even entertain u pfopo9ltloH "
make arrangements for re-esiapISiiniS "
r,ataIsm In choosing it's delegates 10 tne
monetary conferences that nave peeh 1iciN
the English government sent as 10 ltp
reseptatiyeS those who were l1Sti uiiiO =
IN hrinoinp about The adoption OF the Solo
standard, ana were therefore cei . . ~ "
nCen all attempts to reinstate SILVER on d
naritv with that metal. We maintain
therefore that those who base thelr "e
sire for bmetaltisIn upon an me- 49,,
agraanent are either decelVlhS tlieIh-
selves or are trying to ueUeNI
dependence Dcpioreh.
r. Ill bacomes a country like the uhlled
r. 49,. ~ dnnend upon the action or any
ruor country to enable it to devise anu
1on+ any one or more systems or lhlelll0
tC,,aI noIicv. more especially that OF either
= nclitical or a monetary chaIactei'
nretense that our adoption OF pliic
would disarrange our commerclal iei''
is to say the least, d very CLIO
whom we see France carrying on us M
ternational and external aHalrS unuei W
natallism and as such has become Que
of the most wealthy and independent ha-
tinns of the world. If were to ADOPT
the gold and silver standard upon q ratIo
of 16 to / and enter into 81 monetary ar
rangement with the Central ana 0ouul
American countries, including Mexico, we
would not only create an oVerWhellhihS
support of the double standard, out we
would enrich ourselves well as every
South American nation that should JOIN us
in this monetary arrangement We would
soon build up u commercial business that
would give an impetus to the productive
interest of every branch of trade carried
on by each and every country IL North
and South America.
How 1t would Profit Us.
'"To give q practical idea of the impor-
lance of such arrangement to us and
all other American states, we have COM
pileC from the United States treasury re-
ports the following statement of the com
n,ercial intercourse carried on between the
United States and the other Independent
nations on the two American continents.
Value of merchandise imported into and eX-
ported from the United States to the fol-
lowing countries of North and South Amer
lea, wherein silver money is recognized
upon the Old established standard Of value:
Countries. Exports. Imports.