The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1896-06-27
THE ouTLoOE FoR sILYER.


DR.. Otto Arendt, leading European
bimetallist and member of the German
silver commission, in the North Amer
lean ReUtetO, says:
"If it is now desired to perpetuate
the gold standard in Europe, let the
government at washington adopt free
coinage of silver at the ratio of 1:16.
At present, after the closure of the In
dian Tuints, this step could not possibly
have any other result than to make
the American standard a silver stand
ard. The price of silver of course
would rise, but not to 50 pence and not
permanently. The United States would
have standard not materially differ
emit from that of Mexico. All the dis.
advantages and all the advantages Of a
calculating and deprecated money
standard would follow. Gold mono
metallism would be replaced by silver
Recommendations; the double standard
would become nominal No bimetal-
list can approve of this. Free coinage
of silver in the United States would re-
suit in harm to Europe no doubt, but
also ID advantage, Perhaps the harm
would predominant; but one thing
is certain; the absorption of the
American gold, the continual sup
plies coming from the American gold
production, would for a long time to
come relieve the European powers of
all anxiety for their gold standard.
The monetary anarchy would thus be
perpetuated for space Of time beyond
estimation. Only by insisting in all
countries in an unequivocal manner on
the international solution of the cur.
Tency question, can international BIZ
metallism be attained. NO more ex.
perimentsr is therefore the only APP
peal which the European bimetaIlists
address to those OF America; no silver
purchases, no silver coinage, otherwise
than on the basis of international
agreement; and no more abortiVe at
tempts to bring them about.
"What, then, is the prospect of arriy-
ing at such an understanding Worse
than eVer-Or better than ever, accord
ing as you manage it. The prospect is
worse than ever II the cry is, All is
nOthingl Bimetallism in its fullness
can be obtained in Europe only by in
Guiding England; and England can not
be induced to give up the gold standard
within measurable time-say, until
the changed conditions of the precious
metal production begins to be felt. In
Germany everybody recognizes that the
German empire must keep pace with
England-that is to say, not go farther
On the other hand the chances of hi.
metallism are better than ever, if what
is attainable can be recognized and
measures taken to reach it generally.
AL European countries are agreed that
the rising and fixing of the value of sill
yer are in harmony with important
economic interests. No country win
refuse to cooperate in this. Is it pos
sible on this restricted basis to over
come the prejudice against silver?
"The United States alone can not es.
tablish the double standard by adopt
Ing free coinage; they would shift over
to the silver standard, and we should
vainly wait for a stable ratio of values
But II the nations in common create
an unlimited demand for silver at a
fixed gold price, and in this way create
q fixed ratio, then the United States, as
well as other countries, may open their
minis to silver; and then that which
today is unattainable by cOmpulsion
viii be done voluntarily; silver will
again be coined. A constant inter
change Of opinions IS going on among
European bimetallists in order to work
out the details of such procedure,
AS soon as the program is agreed on,
which is to be done at a conference
soon to be held in Brussels, 1t will be
the task OF practical politics to submit
the program to monetary confer
ence."