New-York tribune., 1895-08-24

IHo mOu0TIl 1OtCi vi oiio'
E. ARMBRUSTER. Manager
clearing house OF the world accepted in settle
ments only by weight the payee refusing 10 stand
even the loss from abrasion or wear in their use
Again. told that the reason for discohtihu-
ing the coinage Of silver in 1873 was because the
silver con oeing worth trfe more than silver
bullion did not circulate money but was at once
melted and used in the arts. Let us. then, be at
all times exact: keep one measure-gold-and square
all else c IT, and thus end the confusion ana COM
plicatong growing out OF double standard Which
are liable t. occur at each period when one gets
ahead or falls behind the other requiring new al
justmen'.
The population OF the world Is estimated at about
sixteen hundred million souls, the annual increase
about forty million. one TO forty To provide
metallic circulating medium OF exchange for such
Increase annually on the basis Of the present per
capita Of the word gold and silver, $40 5l would
require sil2 10000, The worlds production OF gold
for the year 1895 is cstrrted at not exceeding 500
OO9coO There were use1 in the arts about 10 per
cent or S3oOOOOo leaving sl70ooOCD to be used as
money shortage exclusive OF silver. OF i-io1vn
The greatest production Of silver In any one year
Gs9O was $lGs ss7. .22 OF which there were used in
the arts Il per cent. equal to S25o0oo4 leaving OF
silver 20 be used as money sli 49, Added 10 the
gold above stated this gives Of gold and silver in
the years of greatest production only S3ll'5e'l~'
leaving the worlds annual deficiency SiOo152so- In
round numbers we are snort Slo0Goooo, II we in
cude both gold and silver.
The question comes home to How is this af-
fecting us anC what are going TO do about Il?
The Knowledge OF the fact. with the tendency
toward the dsmonetizat.on Of silver. has begun a
struggle amon~ the leading nations that have obli-
cations 70 n -ei 20 accumulate and hoard the lion
share Of the gold existing for their present and
prospective needs.
Foreign nations are actually contracting In al
our
mines shipping the product abroad fast pro-
duced while the United States Government is sell
ing millions In its bonds, payable IN gold, at a
runous discount in order to procure gold from
abroad &c meet It's payments. and for the last two
years the business OF the country mas been kept
on the ragged edge of anxiety for fear the Govern
ment would actually default, we'll knowing that 1t
had a thousand million IN obligations in gold to
maintai-. and meet with less than one hundred
million ir gold 10 accomplish the same, with no
arithmetic IT, show how IL could be done The
question is upon us, How long can this continue,
with gold advancing in the world and all other
kinds Of property as steadily decreasing? Twenty
FIVE years ago dollar wheat was regarded as rock
bottom; but now il is ffty-cent wheat, ana II We
continue present policy, twenty-five years
hence, 1t is To say, it will be twenty -ve-cent
wheat or less md other things in proportion.
Here lot me say that It is the business Of the coun
try and our future prosperity that in hole.
10 speak quite az much the silver-mners; and
in carrying out the policy here propose We shall
be helping ourselves quite much as We shall be
helping them.
have no lympathy with the movement TO use
silver in any form a fictitious value. but would
utilize it in any amounts at its real or gold value
We a nation and country have the remedy
in our own hands-the greatest sver-producing
country Of the world--lf we would begin at once
the simple plan Of using It in unlimited quantities,
always At its gold value for individual account to
supply the worlds growing deficiency Pending al!
other measures under consideration II VIII cause
no arrangement Of our existing coinage, National
currency National banking system which should
be firmly adhered to
Let Congress authorize the secretary or the
Treasury accept unlimited deposits Of STANDARD
silver bullion and receipt ior the same IN gwen
number OF ounces, by tens huhdreds,f housdnus, ,
ETC. uniform quantities, redeemable IN like amounts
upon the surrender Of said certificates but while
outstanding said certificates TO De lesai-teii1er
for all debts. public or private, at their gold value,
Let a non-partisan commission be appointed. con-
sis,ng Of three persons nominated by the President
hesdS4arterg in The city Of and whose
duty it shall b., from the best obtainable informa-
rope as well As in New-York. the last Saturday Of
each month. to fix upon the number Of ounces ana
fractions thereof Of silver equal 10 dollar IN gold
their determination 70 be the STANDARD Tor COM
on such basis the fluctuations in the value OF
such certificate for the time being would BE- slight
the loss or gain Infinitely small and divided among
a large number OF holders so that it could work
disturbance. Certificates would be as good as
gold at III, urrent ratio. Thus with silver at 59l2
cents ner ounce a ten-ounce certificate would b.
worth Is IS: a thousand-ounca certificate would be
worth S595. With silver az 592. cents per ounce,
ten-ounce certificate would be worth y Slig; thou
sand-ounce certificate would be worth S597 80 etc.
Ownership OF the silver would be in the holders
OF such ..icaes and not In the Government, the
loss gains theirs. not the Governments as X
should be Why should not the United States take
the lead and utilize her enormous silver product
as monev a. its gold value at once; and set the
wheels moving. while the Old World is wrestling
with shrinking values for property and steady
advance in the vaiue Of gold?
The fluctuations IN the value OF silver bullion per
ounce. gold standard, are OF small account To the
contrary. the scare element in the free and
limited coinage Of silver into dollars worth intrns
cally only ~ Is the fear that they may fall
10 their true levef and the holders thereof the
how long the deception be maintained. and who
will be caught by it-this is the whole in a
An International congress that assumes to fix the
very like an ecclesiastical bull against the comet
II would be I'm line for the farmer who Is now
obliged accept 81 cents bushel for his wheat
to nsls' ttat the price be established at 81.
tanning the ratio Of 10 to l.
The laws OF frade-suppy and demand-wlll con-
tinue TO regulate such values, Notwithstanding
their determination The most such tribunal can
do in the case OF silver is 10 affirm and encourage
IT. unlimteL money collateral in some
practical form under a well-defned plan that will
absorb the worlds present and prospective output
leaving out the question of ratios. considering II
only from the standpoint OF weight and quantity
gold value Ounces remain the same, ratios are
changing In accordance with supply and de-
mand GERRIT SMITH GLEN.
Boston Mass. Aug 10. 1895
GENERAL BrRTON's MARRIAGE
To the Editor OF The Tribune.
Sir. On The fourth page OF your issue OF August