New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-24
BIWETALLISM IN GERMANY.
HERR Won sCHRACT OFFERS SOME ADJ
VICE UPON THE SITUATION
COMPROMISE PnorOsED-sTATE or THE CUES
TIoN ~ GERMhNY-aGRlCtLIukh
VERSUS COMMERCE.
Paris. March 8.

Paris March
4 partial solution Of the silVer PnoS.'o" ~ wy
OF compromise. has just been proposed % on VI .'
first financial authorities OF the fes.hdh r'.P'e
Ills pan is novel and IS worth confide'ihs' oi,y
Cor the Ia TX Derpexities Of the case. when rehdet
,,,,,,,o ~ Iioht important. Moreover, Herr
,.on Gchraut who is now sub-Secretary OF state a'
stragburg has a right to be heard. lie mas ., n
e,Iccegs vely Government Comn.ssary IN the He'eHs
tar Chaucery and Treasury official. ana deIesa's
Cor Germany 20 the international Monetary .oh'
f.rorce held I'm 1881 in Paris His new panphiet
o, "1.be Monetary Question" has already Deeh
translated into both English and French. To I'M
Go-sand It's proposals 1t Is well TO recal the pf'se'
vexeI state Of the question in the herman i-'P'e'
Germany adopted the exclusive Soid staH"''u ~
1873. az a period when she vas inauSuratns a Su4c'
protective policy IN the interests Of her commerce
and manufactures The progress OF German CON-
rncrcc from that time has gone on by leaps ana
hounds until Il has become the dangerous an" ac
iiy4ly oncroachng rival OF British trade Auton
ornouy protection having accomplished IT'S "otA
has been made basis for wide reciprocity oncs
moro in the interests % commerce. Meanwhile mo-
nometall isn has also done It's work This. as Sir
william Harcourt has been saying in Parliament,
is IN lower the price OF commodities ana raise the
nr;co Of labor. Interpreted in German practice, this
means that the agricultural population, which is
too considerable to be regIected as IN fnSlahd'
suffers more and more from the insufficient prices
received for its products To such population the
rise in wages even II verified. is rather damage
than otherwise. Hence the Agrarians, or aSrcur
ura party in politics. put at the head OF tner de'
mands the return 10 the free coinage OF shVer'
which IL to be kept at par by legal enactment
German foreign commerce. on the other hand "a
unanimously in favor Of holding by strict monomer
allsn, for obvious reasons OF It's own. These rea'
sons are not connected with the high wages wh4en
the British statesman would like 10 persuade ths
world are due 10 the success OF internatohai trau'
ers in forcing their buyers TO pay exclusively ID
gold.
The compromise now proposed between these two
opposing, interests asks neither the giving up OF
the gold standard nor the return TO the coinage OK
silver According TO Herr Won Sehraut. II Is no;
dificulty. The fundamental problem Is now 70 es,
tablish silver alongside OF gold as a iund 70
the instruments OF lnterna toha i 20
how mobilize the unproduc'iye mass oi siVer 80
as facilitate the relations of exchange among
For this purpose it is proposed that countries sat.
isted with their present monetary organization
England. for example, should come 10 an agree,
with countries embarrassed by deprefbr'r1
ing the latter to issue certain quantity OF TeI
Gates TSyesd by ratio 5 soyeng the yaUs
OF silver in relation to gold would also nave 40 20
Of thlngs"sav from Is to % tol These certificates
or bank notes. guaranteed BY the silver reserve
" 10 International traffic. In the country issuing
them they should be- always interchangeable Win
trial OF this plan. according 10 It's author, would
in mo- wise threaten the gold reserves OF countries
like England. France ana Germany, Nmien naNs ";
been able to gather such immense PROVISIONS 9i
/ mis- single standard. The silver certlhcates Woul
/ h. authorized. prudenty and gradually, under
sat- ytIarantees Eventually. there might nave
.o h. An additional fund TO cover tine hllierenCe
the convent ional ratio and the actual rate
~ silver in the market. The international agree
ment also should be OF limited DURATION hVe years.
/ for example. -.-.-- T.. lat, 81, .bi.
system for increasAg the value of silver ana coma
away with the Lowering or prices OF coiilHlOdtt.es,
v.hISh results from international competition suS1
countries India ana the Nrseti.in '., poD.Y
would find i'm these silver certificates settel money
tnr ,her purchase ard business transactions ~
Throne In National relations, silver a4so mouns.
snnadv rise from its present depreciation As 70 she
United States thinks lfetr No! I'LL, ,es
NouId not fear TO accept from II silver cerunGaies
! w Tho amount OF $9O.0o000o or S290,VNVp. Ohuet
| such circumstances the United states mlgnt coihe
~ a. sen,rate agreement with the other America.
| Republics something when woud pIlhs 49,.
rfuaIlv return 10 bimetallism, al least SO Tar as
| "a satisfy the Just demands OF the silver men. -,
In rho produ, ton OF cereals. especially tounEies
| IKE India would be freed from the dhcultes Whicn
now force them TO thrust their crop upon we =,
, moan market at any price The European maEhe'
itself would no longer suffer from the present IT.
resistibe pressure a constant decrease IN pllSe
II Is this decrease which prevents Nheat-pIoi ss
countries like Russia and AUSTRIA tuns sy the,
deriving the advantages they expected IIohi "'SA
treaties OF commerce with Germany -, .,..,
Ii Is admitted that this solution OF 'he Snn,,n
question is neither absolute nor nnal, put Only
relative TO present circumstances IL Is Ca'nIr,,
that IL Is the only possible solution at the peseu,
| moment IL is 10 be worked out by intetnaIlohai
agreement, by means or AN lnternatSShaL - o.
| SANITATION OF banking and credit; Ioth loi'o,,
metallists and bimetalists with me III ~
| extremists are likely make this plan the pas.s
| OF their appeal 10 the Imperial Government LOT l
| viting the other Powers 10 new htetHaNV"a
| monetary conference.