The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-12-18
NOT FOOLS, BUT KNAvES.
Where Two of Amererica's Great
est Traitors Stood in 1878.
CARLISLE.

| shall not enter into an examination of
the causes which have combined to depre-
ciate the relative value of silver, and to
appreciate the value of gold since 1873.
but | am one of those who believe that
they are transient and temporary in their
nature, and tnat wne.l they have passed
away or have been removed by the sep
arate or united actions of the nations
most deeply interested in the subject,
the old ratio of actual and relative value
will be re-established on firmer founda-
ton than ever. | know that the worlds
stock of precious metals is none too large,
and | see no reason to apprehend that it
will ever become so. Mankind will be for
tunate indeed. if the annual production
of gold and silver coin shall keep pace
with the annual increase of population,
commerce and industry. According to
my view of the subject, the conspiracy
which seems to have been formed here
and in Europe to destroy by legislation
and otherwise from three-sevenths to one
half the metallic money Of the world is
the most gigantic crime of this or any 9TH
er age.
The consummation of such scheme
would ultimately entail more misery up
on the human race than all the wars, pes
thence and famine that ever occurred in
the history of the world. The absolute
and instantaneous destruction of half the
movable property of the world, including
horses, ships, railroads and all other ap
pliances for carrying on commerce, while
it would be felt more sensibly at the NOM
ent, would not produce anything like the
prolonged distress and disorganization of
society that must inevitably result from
the permanent annihilation of one-half of
the metallic money Of the world.
John G.. Carlisle.
Feb. q, 1878.
SHERMAN
Treasury Department, July Is. 1S7S.-
Dear Sir: To that part of your letter of
the 18th inst, in which you ask my views
of the matter confided in the monetary
commission, l have some delicacy in re-
plying very fully. During the monetary
coference in Paris. when silver was ex
cluded from circulation by being under
valued. | was strongly in favor of the
single standard of gold, and wrote letter
which you will find in the proceedings of
that conference stating briefly my view.
At that time the wiseSt of us did not an
tcipate the sudden fall of silver or the
rise of gold that has occurred. This'un-
certainty of the relation between the two
metals is one of the chief arguments in
favor of a monometallic system, but other
arguments, showing the dangerous .ef-
feet upon industry by dropping one of the
precious metals from the standard of val
he, outweigh in my mind all theoretical
objections to the bimetallic system
am thoroughly convinced that if it were
possible for the leading commercial ma
tions to fix by agreement an arbitrary re-
lation between silver and gold, even
though the market value might vary
somewhat from time to time, it would be
a measure of the greatest good to all ma
tions. My earnest desire is that you may
succeed in doing this.
You are SO we'll informed upon this sub
ject that it is not worth while for me to
enlarge upon it. The statements and doc
uments sent you by the director of the
mint will give in authentic form most OF
the material facts which bear upon the
question. and your own Investigation on
the silver commission will, I am quite
sure, supply any deficiency. Very truly
yours,
John Sherman, Secretary
w S. Grosbeck, Cincinnati o.