The times. [volume] (Richmond, Va.) 1890-1903, 1895-05-23

Of Mexico In the early part OF the CEN
fury turned out immense quantities OF
silver. Vast quantities Of silver contribu-
ted by these two sources were coined In
France, and the market ratio OF gold 10
silver went away from - IL 20 !. In con-
sequence. gold was at a premium IN
France from about 1903 to 1850, and all
the money Of France in that time was
silver. There was OF course plenty OF
gold coin IN France during that time.
but 70 was IN the vaults Of the Bank OF
France. and those who wanted 10 had
10 pay a premium for H. Soon after 1850
the gold supplies came ia from Califor-
mia and Australia, and the market ratio
Of silver TO gold. which was u Ga 20 /.
changed 10 = ID 20 I. and that apparent
Is slight change In the market ratio.
while the legal ratio remained at 70 II to
]. was sufficient 10 displace and send out
Of the country from s750.0oo00 TO $780,
$1,000 OF silver coin. Silver departed from
France in a food and IL became necessary
10 coin what the French called chose
detcstablc gold hve-franc pieces" coin
corresponding 10 our gold dollar. and,
therefore. so small when in gold as 20 be
unsafe in transportation. France became
then. after 1850, a monometallio gold coun-
try in fact. though bimotallic in name.
in $50 the monetary union Of France,
Belgium. italy. Greece and Switzerland.
called the Latin Union was formed.s in
1861 silver began 10 decline in value and
this union attempted by ifs free coinage
90 keep up SIS value. But by 1874 it had
become so evident that the thing was
impossible that the Latin Union gave up
the attempt and abandoned free coinage
Of silver. and one of the countries in 10
after tine other closed IT'S mints to the
free coinage OF silver. The reader viii
find fun account of this matter In tho
article Of Sir. Mcleod. 10 which We have
already referred.
The upshot Of the matter Is. then that
until silver began TO decline in value.
about 1861. France was gold monometal-
lie country in fact though bimetallic in
name. that there was very little silver
then except in the boards Of the peasants.
that when silver began 10 decline I'm value
in 1861. t.en silver began TO become more
abundant that finding this TO DE so.
France closed her mnts 10 the coinage of
silver except ON Government account and
in small sums. and She IS, therefore, to-
day as much of a. gold monometallic coun-
try as in fact England is.
The Bank Of France and its branches
held last week i'm their vaults Siio,0a0o0o Of
gold and }g0.00@o of silver, and this is
all of the silver in France except what is
circulating amongst the people as change.
Her treasury officials estimate the whole
stock of her silver money al about $780,
oDeo9). which is only a little more than
ours. France recognizes that she cannot
carry any more silver money and keep
it mp 10 parity with gold, and She has
therefore stopped the further coinage of
IT, II we will do the same we viii Doe
able TO take care of what we have. But
il we go much further we shall certainly
bring disaster on ourselves. We see no.
thing in this record to bring comfort to
the free silvcrte.
We shall have something 70 say to-mor-
row about Mexico. and then this series
Of articles will come to a close.