Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1895-03-28
A CASE IN POINT.

AS UIlO 1AUldAG0 oOOf 'C"O wa
says, the experience Of France
ought to give a good lesson to
those who clamor for the uncon-
ditional free coinage of silver IN
this country.
France is the richest and most
powerful country that has ever
coined gold and silver on a large
scale without Elimit for a long
time and maintained specie pay
ments.
Up to 1878 we had coined only
about 5000, 600 standard silver
dollars. and the acts which have
given US the bulk of our silver
coinage have provided for the
purchase Of silver bullion by the
government and its coinage or
the issue Of silver certificates
against it. Even with these linn
itations we found in 1890 that it
would not be possible for US
alone to maintain the parity Of
gold and silver and but for the
repeal Of the purchasing clause
of the Sherman act we would
soon have been on a silver basis.
France with all it's wealth and
resources discovered twenty years
ago that it could not maintain
gold and silver at the mint ratio,
and promptly suspended silver
coinage. The danger which
France thus narrowly averted
has made it very reluctant to in
dulge in experiments with silver.
There is not the slightest pros
pect that France will adopt the
free coinage of silver again ex-
cept with ample guarantees of
the cooperation of other leading
commercial nations Of the world.
France regards the assent of
Germany and England as abso-
lutely essential to the safety of
any scheme for the free coinage
of silver.
LIE Temps, one Of the leading
newspapers Of Paris, says:
IA people devoted to trade
throughout the world need before
everything, a monetary standard
with which all values can surely
be compared. Sound and stable
money is the foundation of its
business. The English govern
ment holds that the strongest ell
ment in the security of the Brit
ISL Empire is its monetary sys-
tenn. And that opinion is not a
party matter. Whatever party
may be in power, the govern
ment, intent on the permanent
interests Of England, will hold
the same attitude, as always hap
pens in all questions of foreign
policy"
This representative of French
opinion sums up Sir William
Vernon Harcourt's remarks in
the House of Commons on the
proposed international monetary
conference as follows: eff coun-
tries like France, Germany and
the United States can agree
among themselves to maintain
the value of silver, we cannot
share in the agreement, but we
shall offer no objection"
To this statement of the posi-
ton of Great Britain LIE Temps
aptly replies: "Many thanks.
Do you expect to see France re-
openits minis TO the white metal
and allow our gold reserve to
cross the channel? Either there
will be free coinage in England
or France, adequately supplied
with gold and silver to meet all
conditions, will maintain it's pres
ent admirable position"
1t is very evident that France
has no idea of opening her minis
to silver again unless she can be
sustained in such a course by the
other nations which lead in the
worlds commerce.
If all the nations which repre-.
scented the Brussels Monetary
Conference would agree upon a
scheme of free silver coinage it
would undoubtedly succeed, but
no one of two nations can posi-.
bly, sustain an unlimited amount
of silver on a parity with gold al
the ratio of Is to 1. The free
silver leaders in the United
States know this as we'll as any.
body, but nevertheless insist or
the demand for free coinage In
this country regardless of the
action of other nations. In other
words, they are silver monomet-
allists.
Fortunately for this country il
is in no danger of falling to the
silver standard and thus losing
it's place among the great com