The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1896-09-26
Decentralization In belgium.

Demonstration In Belgium.
To THE EDITOR OF The CHICAGO
REcoRD-SIR: The enclosed letter to tue
minister of the United States at Brussels
reaches, me from NJ. Allard the
distinguished Belgium publics!,t. Com
ing from source free from political
bias. it is likely to Interest equally the
supporters of Mr.. Mckinley and those OF
MIR. Bryan: each party being as we are
assured equally in earnest to restore
silver to the worlds currency, the
methods only being different:
TO His Excellency the Hon. James
Curric. United States Minister to
Brussels: l feel it my duty to answer
without delay the letter which you SO
kindly addressed to me yesterday, but ]
beg your forgiveness if here in the
country, far from my office and my
references, am less explicit than !
should wish to be.
Il follow in my answers the same
sequence which you have adopted in
your questions.
"rhe law Of Belgium gives to every
debtor the unquestioned right to pay at
his option, in gold or silver, whether the
debtor bs the bank. the government or a
private citizen, native or foreign.
mo official estimate exists Of the
quantity Of money actually in
circulation in Belgium. but gold
is met with; so that the National bank,
which alone issues bank notes in
Belgium, never pays gold when these
notes are presented. but always pays
silver.
"At Its birth dn 1881 Belgium adopt
ed the French monetary system, based
on the two metals, gold and silver--i. e.
bimetallism.
But about 1851, when the gold mines
OF California and Australia produced
gold In large quantities. Belgium
demonitized gold and became silver
monometallic;
"About 1865, however, business became
SO depressed in Belgium that the people
forced the minister, M. Frere-Orban, to
retire, and obliged the government to
become again bimetallic.
about 1873 France prevailed upon
the Latin states. France, Italy, Bel
GUM, Switzerland-to suspend the
coinage Of silver. which suspension
established here kind of limping
monometallism-for though silver can
no longer be coined, the then existing
silver coins continue to circulate within
the Latin union. which union dates
from 1865.
"Since 1873 crisis, consisting in a
fall in all prices, exists continually,
nor does it appear possible to arrest its
progress. This fall in prices reacting
on wages is now evolving social and
industrial crisis
You ask me why we returned, in 1873
to monometallism limping though it
be? l can conceive no other, unless
that 1t was to please a certain class OF
fnanciers which proAted thereby-a
class supported by theories, invented and
defended at that time by some political
economists, notably by the members of
the Institute OF France.
a. You ask what influence these
monetary measures have had IN Belgium
on industry and wages. Money, which
was already scarce in 1873. has become
still scarcer. and that fall in price,
which was predicted has taken place
The average fall in the price Of all th
products Of labor is so per cent sine
1873: that Of cereals over SIS per cen.
Industry is no longer remunerative
agriculture is ruiued and everybod
is clamoring for protection by impo1
duties, while our ruined citizens thin
of wars-such is tho sad condition g
Europe.
IS For the last twenty years no ne1
gold or silver has been coined II
Belgium.
"6 The mint pays for gold 3,43
francs per kilo, and for silve
, 22o.55 francs per kilo, without an
8 change since 1865; but since 1874 it I
longer buys silver. There is thus a mir
price for gold only; but gold is alway
dearer in the open market than tha
the purchase price OF .he mint.
Accept NJ. lie Minister, the assurance
etc,
Alph0nse AlIard.
"Directeur Honaire dc la Monnale 1
Belgique. Delegne du Gouvrement Bele
aux Confereux MoDtaire Internationa
1892, etc.
Aug. 19, 1885," (Translated from II
French.)
at my request Nj. Allard has obtain,
permission from Mr.. Ewing to publ.
the letter. Yours faithfully,
MORTON FREwIN,
(Mr. Frowin is a distinguished bimetallist n
writer Of London, Engiand.)