The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1895-03-09
FRANCE AND BIMETALISM.

The Manchester, England, Guardian, of
February H. has this report of the speech Of
NJ. Ribot, the French Premier, in the Cham
Der of Duputies a few days previous on the
question of bimetalism
We have now received the full text of the recent
important speech by NJ Ribot, the French premier
and minister of finance in the Chamber of Depu-
ties. on the question of international blmetallSln.
The incident occurred during the discussion of the
estimates for the department of agriculture, which
afforded NJ. Fougeirol, a deputy from the Ardeche.
an opportunity of calling attention to the relation
between the general depression of agriculture and
the fall in the gold price of silver in consequence
of its international demonctiAtion.
NJ Fougeirol pointed out that the agricultural de
preston common TO all gold standard countries
and urged that 1T was due to the fact that, with
modern facilities of communication and transport,
there can practically be only one price for, say.
wheat throughout the world This being the case
NJ Fougeirol cOntended that the producer in the
Silver-standard country is enabled to sell his wheat
at the same price in silver formerly, his costs OF
production being paid in that metal, while, owing
10 the appreciation of gold and the divergence in
the values of gold and silver the producer i'll the
gold-standard country must accept half the price
formerly received, the silver quotation liking the
price in all markets NJ. Fougeirol urged that the
Government should not lose sight of the importance
of the question and added that he desired also To
call public attention to it, NJ. Ribot replied as lo
lows:
lean not at this hour discuss fully so very grave
and very complex question, concerning winch
have recently had many conversations with my
that the abandonment of the mlntage OF silver, the
responsibility for which was incurred in 1873 by the
German Government, has proved extremely dlsaS
trous. but we can not attribute the agricultural
crisis in all its length and breadth solely to the sS
pension of the free coinage of silver. During the
mast twenty years there have been many causes
which have contributed to lower the prices OF all
wholesale commodities, and especially those of
agricultural produce.
bimetallism coincdng with these general causes
has precipitated the crisis: and has given 1t tar
more grave character than it would otherwise have
had. l have no doubt at all on this point, and
entirely agree with NJ. Fougerol, who has studied
the question with zeal which admire. ana has
made himselfan expert with reference to it. ! can
not Immediately bring about the solution. NJ Foul
geirO is too well acquainted with the problem not
to know that the remedy is beyond the power OF
any one country. He has just said that it is not
France alone that suffers in consequence of the
decentralization of silver he is quite correct ana we
can not solve the question except by means OF an
understanding with the other great nations. IA
voice: 'You can take the initiative"l
Ifwe attempt to settle it alone we shall have to
nav all the cost of the solution. NJ FOugeirOl might
have told you that, in the countries which have
hitherto been most attached to the monomeallc
system, and notably in England, current OF opln-
ion in favor of serious attempt TO ma remedy
for the existing crisis is being developed and the
action of the Manchester Chamber of Commerce, for
instance in abandoning the theory of monometal-
lism and demanding that by some means the mon
etary value of silver shall be restored is very con-
siderable event ,
we NAV differ in opinion to the precise meth
DDS to be employed, but believe that in England
and in Germany there is genuine movement IN
favor of the resumption of the coinage OF silver
can not say at what moment this progress will be
sufficiently decisive to finally overpower the resist
ing forces which are great. In such a position,
what should be the attitude of the French Govern
ment? We were summoned in 1892 to a conference
ut Brussels which, unfortunately, has been without
result and has been adjourned indefinitely Al
though | have been minister of finance for but a
few days | have already discussed this question
with my colleague, the minister for foreign affairs.
we are completely in accord.
Although believe that France can not alone set
10 fl,ap 7 n m OninlOn
TO restrict herself to an attitude of indifference
i'm waiting. She ought to indicate in a marked
manner that she desires to hasten the solution; she
0ught TO assume an attitude which will encourage
the movement of public opinion in neighboring
countries This is the policy which the minister
adopted hope that have satisfactorily answered
the question which has been put me- loud APP
planse