The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1896-07-03
LAST WORDS OF CERNUSCHl
"THE FOUNDER OF A TRUE NONE
TARY SCIENCE,
SAYS AMERICA CAN GO II ALONE.
We Are Strong Enough Ourselves He Be
lieves, to Dictate to the Whole World
a Bi-Metallic Policy-His Reasons
Outlined.

The following able article taken from
the American OF June 18th ls one Of the
last expressions Of Cernuschi, Europes
greatest writer OF political economy and
finance. This man was the ideal writer
on international bimetalllsm and was
most glibly quoted by those who take
that stand. But read what he recently
said about tree coinage in America indie
pendent OF any other nation.
Henry Cernuschi was justly looked
upon as great authority in the United
States OF America, where in ternat tional
bimetaltists proudly avow themselves
believers in his doctrine. In this con-
nectioD therefore, it may be interesting
to recall the last words OF the maste er on
the silver question in reference to the
United States.
1t was at Mentone, on the 2Sth OF
April last. We were considering to-
gether the possible consequences for IN
ternationa blmetallism resulting from
the nomination Of Mr.. Mckinley to the
presidency OF the United States. Since
the discussion in the house OF commons
on the motion OF the 18th Of March;
Cernuschi's ideas had, in fact undergone
some modification regarding. the aues-
ton Of blmetalilsm in Europe. "Aiter
the statements OF the chancellor of the
exchequer, Sir Michael Hicks Beach," lie
said to me. ''the knot of the question OF
International blmetallsm must now be
sought for in America. England, for a
certain time at least, will fave her
hands tied by the declarations of the
chancellor OF the exchequer; but those
same. declarations will furnish the Amer
lean silver men with a decisive argument
paign."
And, in deference to my request that
he would mtre fully explain his present
view OF the subject-for hitherto he has
always said in accordance with our own
view, that the solution OF international
bimetallisrn depended upon Engand's IS
attitude-he added:
Il have always combatted the un-
compromising SILVER men of America,
who at bottom are silver monometalists
because, from the scientific point OF view
their doctrine is as fal1acious as that of
the gold monometallists.
"Ihe adopJlon of the free coinage OF
silver by the United States alone. would
it is true increase to formidable extent
the contingent OF silver monometalIic
countries, but would not Immediately
bllng about a true solution OF the prob
lem that International blmetallism has
in view; namely, the instantaneous fu-
sion OF the two monetary standards in
n single International money by the es-
tabllshment of fixed parity of value
between gold and silver.
"Wlth silver monometallism in the
the United States, the war to the knife
between gold aud silver will agltate for
many years yet the civilized world, and
you know as we'll as / do that the re-
suits Of this struggle will be disastrous
to those European countries which are
at present living under = single gold
standard and in particular to England
and France.
II have always been the adversary OF
the out-and-out silver men Of America,
that is to say, the party which demands
the free coinage OF tho silver dollar in
the United States without reference
to the action of lEuropeon nations, be.
cause their monetary conception is dia-
metricallv opposed to mine. They are
monometalllsts, like the monometalllsts
OF the city Of London, and the triumph
Of their cause, so far from putting an
end to the monetary anarchy III which
the world has been wrltning since 1873,
will merely accentuate it, in rendering
more burdensome for Europe the eco.
nomic consequence of the divergence be.
tween the two standards.
"But If were citizen of the United
! States and were convinced that Europe
bv reason OF England's attitude, IL
fxedly hostile to the establishment o
] a stable monetary parity between GOLD
and silver, obstlnately rejecting al ideas