The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1895-05-03
Speaks Upon the Siluer Ques-
tiOn in New York.
couNrRTs HONOR AT STAKE
He Believes in International BIZ
metalism- Other News From
All Parts Of the World.
Associated Fress.

New York, May 2.-Comptroller of
the Currency EclSles spoke tonight at
the banquet of the Chamber of Com
merce, his subject being the currency.
He said:
"I believe we have come TO point
In this discussion of our monetary
system and the agitation for complete
change In our standard Of value, when
this mass of opinion should not only
be aroused but should make itself an
active force In putting an end to the
currency vagaries of which the free
silver movement as today presented Is
the elimination. There can be no po-
lftical interests to be served, no party
considerations to be advanced OF suftl-
Client import to warrant any man In
long debating as to the position he
should take when the financial honor
OF his country is at stake and the pros
perity of a great country is threat
ened. Their demand today, interpre-
tated today In the light of facts, Is
that the United States shall at once
abandon its present standard Of value
and substitute therefor, irrespective
and without the cooperation OF any
other country, the single silver stand
ard. Nowhere Is 1t suggested by the
sponsors for this latest tenet In the
silver creed that this nation shall even
undertake to maintain at home the
double standard. No where Is there
the promise given of any attempt
through international agreement to
make every dollar of silver which shall
be coined the equal in value of every
dollar of silver which comes to the
mint and fairly Interchange geaible there
with. They no longer give recogni-
Al a. a 49,
etary union formed, and conference
held, THAT no nation can isolate Itself
from those with which 1t has CONNER
cial dealings and maintain, lndepend-
ent of them a distinctive standard Of
value. The position which they now
assume of necessity eliminates from
their ranks all who heretofore have
struggled to bring about larger use
of silver in the country's currency at
an increased ratio, and drives into the
camp of the opposition every honest
champion of international bimetallism.
The contention which IS now made by
the single silver standard adherentS
reduced TO Its last analysis, Is silver
fiatism, pure and simple. 1t differs
In degree only, and not in principle.
from the contention of twenty years
ago of the advocates of unlimited
issue of irrideemable greenbacks and
from that issue of fiat currency Of the
period of the continental congress
and era of colonism. The end always
sought by commerce, the great arblter
of every monetary system since the
dawn of civilization, has been to have
in every metallic money such intrinsic
value as makes the unstamped coin Of
the same value as a commodity of
merchandise As the stamped. 1t has
with equal rigor insisted that Of bank
CURRENCY there shall be immediate re-
demption upon presentation in sound
metallic currency. The commercial
world has with unvarying precision
drawn the rule of distinction which
exists between the true vaIue IN na>
tlons currency and the value alflXed
to It, and standing upon that Ene OF
demarkation 1t has been as Indifferent
to the laws of great nations as Of
small"