The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-08-28

Of cts snrrezssns czsrut % Ire Mexican
nnfnes. which corttnued for souns cras-
7hss decline n silver tn&1gurstess the rrst
% sss rtsres great movements which have
ssncs cersng.d ere Preach cosnas- The
frn-r4ssaate r.sul. was ma. geld b~xsn -
Dc hosr1sf. sfsn exvor--1. and finally ais
APPEARED from ere csrcrsatfea Of France
for forty-avs ysaTa
In support ~ thfs positive stat.nnsrs
references may - RAD 20 a number es
writer's. " chevaIf.r. writing twsnty
years Before fs75. sst5. "A change * M
per cent n favcr cs god hai su.seef %
Gauss thai r1ssai 20 disappear Wholly from
commercial payrnerfs" fBsisss PTosaoA
De r0r, page z.s) And n the same Work
he wrote: ~Unser ths regime Of ire sey-
.nth Gerrninsl. year l.. geld bad ceased
TO azure IN transaction. ~ any rnagraf0ds
ssnc. Il acquired an zoprscizois pFs7ai1Fn-
People took their gold 20 the money
changers n ortsr 90 pocket me premium.
ard MAD. payment. exclusively IN silver,
as everybody knows"
Precisely tire zane thing seeurrec N
the United s.sfes for many years IN the
beginning OF iris century. when one Of the
usual instruments tn frzds was pair OF
scales Il which 20 weigh gold money. Tns
rar,% ;hsux is practically done IN England
today. because the measure OF exchange
is not dollars or sove-sgus but ths pound
weight Sterling OF gold.
Prof. Bowen. writing % me condition IN
Francs al the period already referred 10.
said: "In those times whsa one was paid
even no small a gum as . thousand francs
fsbout 600, he received his bulky snc
heavy money IN q canvas bag and had 70
hire a porter or . cab 20 convey II home
But even more important IS show
ing that production and market value
cannot be ignored Is ths experiences
OF France when gold became plenti-
fus by the discoveries IN CaIitor-
MA Goid, a. compared with SILVER,
suffered a serious decline. so that the
market ratio about the close OF the year
$50 brought the two metals nearer 10
the legal ratio. Within a few years the
enormous output from the mines or Call
foruia and Australia effected such an al
iteration In the market ratio tina; II fel
from 1876 10 I'm 1851 20 1913 20 l In isSs.
This drov. silver out OF France and II
became necessary 70 coin gold pieces or
ten and I've francs to meet the necessities
OF retail trade BUT this did not change
the ratio. and hy 1864 the trouble had
become 10 serious that the government
asked the Corps Legislatif 10 lower the
oneness OF the coins OF less than nye
francs. This was done. but did not bring
relief, and France. Belgium. switzerland
and Italy agreed 10 adopt token coin
age OF silver. but limited It's legal tender
quality. This restriction upon silver
brought the two metals back to a parity
and Mr.. Aehlile Fould. minister Of finance.
reported "a follows TO Emperor Napo-
leon III. In France eli large payments
which, as Is well known. were formerly
made In sacks of five franc pieces tsii-
vsr), have OF late years been effected In
gold"
Silver continued to decline IN value. ana
by 1879 the Latin Union began 10 be
alarmed at the Influx OF silver. Germany,
although not in the union. was the first
20 take decisive step. and this was fol-
lowed By Belgium. France. Belgium,
Switzerland. Italy and Greece determined
by agreement upon limiting the coinage
OF silver. and in 1878 IT was completely sus-
pended.
France was coming TO the front az an
important commercial nation, and her
past experience had warned her that II
her business with other nations was to
be conveniently transacted. she must
adoc, that measure OF value which had re-
eeiyed the deneerats approval OF the CIV
fgx~a en~ers a. tha heat