The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1894-05-11
THE ENGLISH STANDARD.

bi-metallic party in England. The
dream of Prof. Jevons was that
perfection i'm money would be at
tained by a gold standard. Today
there is very strong party among
the best writer's, thinkers aud
financiers in England in favor of
pi-metallism. This party is work
ing for international bi-metallism;
that is, for free coinage of both gold
and silver on a ratio to he agreed
upon by all the nations of Europe,
as we'll as England. They claim
that this would secure II steady
equivalence between the metals
such as existed before the de-
monetization of silver by Germany
and the United States and the
stoppage of the coinage of silver
in France. They claim that the
precious metals as nature yields
them are now doing monetary
work; that they would be unchang-
ed in volume and by law they
would be made equal; instead of
conflict and discord between two
there would be harmony
and that the rupee, the mark, the
franc and the silver half dollar
would mean then definite amounts
in English money.
The bi-metallists claim that it is
for the interest Of the trade and
commerce of England and that she
is more interested in this subject
than all other nations as the adOp-
ton of bi-metallism would tend to
make a free flow of international
trade to her shores. Said Prof.
Emile De Lavelege: 81 am myse elf
a professor of political economy
and a partisan of bi-metalism be-
cause 1 consider it in accordance
with the less contested prin ciples
of four sciences, seeing that if look
around me at the professorships of
politica economy in Europe the
most notable are occupied by BIZ
metallists-in England some OF the
best university professors, Foxwell,
Nicholson and others. The same
is true in Germany-we have such
men as Rau. Michaelis, Lexis,
Adolph, Wagner and Others"
Then such men as Balfour, Ere.
wen, Gibbs and Goshen are strong
advocates of bi-metallism. So pow
erful is the party in England that
it is believed by the leading BIZ
metallists that if the question was
submitted to popular vote it
would be carried by an overwhelm-
ing majority. The strides made in
favor of bi-metallIsm in England
are not much greater than in Ger
many. The principles advocated
by the party in Great Britain is
precisely the same as advocated
by the friends of bi-metallism In
America. They agree on every
essential question. They do no,
propose anything of revolution
ary character. AS II distinguished
writer says: "Thelr aim is to re
sist what has been leading to ant
must ultimately end in disastrou.
revolution in the world of money!
Bi-metallists in Europe and in
England, while they entertain M
doubt as to the wisdom of bi-met
allism or the principles ON which
1t IL based, are working for inter
national action. They allacknow
ledge that France and the United
States kept silver at par with gold
on a ratio of 10 l-2 to up to 1873
"a.
Bi-metallists throughout tn,
world are conservative. They ash
only for a return to monetary
system which has been tried for 1
hundred years or more and which
has been equal to all the emergen
cies of peace and war;which was,a
they thoroughly believe, the foun
dation Of a monetary system tina
maintained prices. equalized ex
change and was far more stable
than monometallism based on eth
er gold or silver. They point plain
ly to the fact that bi-metallisn
kept silver out of the market AS /,
commodity 'and they show tina
while France maintained the fire,
coinage Of silver, England had Il
pay in London whatever the coin
age rate was and that was always
at the rate Of l5 IL to in Paris
No ont would sell silver In Londor
for less than II would bring him il
francs when coined In Paris. From
1901 10 l847 the ratio between tht
value OF silver and gold did no
vary more than 3 per cent, whiIt
fom 1874 to 1894 the ratio raiset
from 1918 to !, to 4O.8 to /, show