The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1896-10-09
BISMARCK AND BIr1ETALLISM.

BISMARCK AND BIrlETALLlSM.
The silverites have been having a
great deal to say about the letter
Prince Bismarck wrote to Gov. Culber-
son, and have given a wide publica-
tion of the Governors version of it.
Bryan has used it on the stump, and
it has been pushed forward on every
possible occasion, as an argument in
favor of the free and unlimited coin
age of silver by this country alone, land
that Bismarck stated that such
move on the part of this country would
lead to an international agreement.
Now Prince Bismarck says nothing
of the kind, as can be seen by reading
his letter, which is given below, trans
lated by Judge julius Schutze, editor
of Texas Voraoaelts:
FREDERICKSBURG, Aug. "a, 1896
Honored Sir: Your esteemed favor of
July l has been received. l have
always had prediction for bimetal-
lism, but while was in office would
not consider myself infallible in op-
position to experts. l believe to this
day that it would be commendable to
obtain by endeavors of those nations
chiefly engaged in the worlds COM
merce an agreement in the direction
of bimetallism.,
"The United States are, in political
economy, less hampered by their gov
eminent than any one of the European
states, and if North America should
| find it compatible with it's interests
to take a substantial step in the di-
| rection of bimetallism, l believe that
such step would exert beneficial
influence upon the establishment of
international agreement and the union
of the European states. Assuring you
of my highest respect l am your most
obedient servant.
V. BISMARCK"
1t will be seen that Prince Bismarck
says nothing about free and unlimited
coinage of silver on individual &C
count, whatever. He does not even
say that it would be good thing for
the United States to open it's minis to
the coinage of silver on such basis,
independent and alone of all nations.
What he says is, that ''J North
America should find IN compatible aoith
its interests to take q substantial step IN
the direction of binaetaLlisna, l believe that
such q step ooouLd eTert q beneficial i1Jtu-
ence upon the establishment of dnter7aa-
tiO7odl agreement and the Maaon OF the
European states" Now there is MOTH
ing in this which can be tortured into
being in favor of free and unlimited
coinage of silver on individual account.
Bimetallism does not mean free coin
age of silver, but the concurrent caTc,t-
Iation of gold and siIver. Free and I'M
limited coinage at ratio of 16 to 1
means silver recommendation, and that
is not what Bismarck favors. His let
ter is direct emphatic, and unquali-
fed endorsement of the financial plank
adopted by the Republican national
convention at St. Louis last June, and
it cannot honestly be made to mean
anything else.
The election of Mckinley and Re-
publican congress, would mean that
this step in the direction of bimetal-
lism, to which Bismarck refers, could
be and would be taken, with good
chances for success in the bringing
about of an international agreement
which would secure larger concur
rent circulation of the metals. But
the triumph of Bryan and the party
backing him would mean nothing of
the kind, because it means the sue
cess of monometallism instead of BIZ
metallism, for which Bismarck pro-
nounces. The aged German states
man is wise enough to see that the
silver mine owners scheme would not
be good thing for this country nor
the world, and hence does not endorse
it in any particular.