New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-05-08
A PARIS BANKER ON SILVER.
WILLIAM sELIGMAN DISCUSSES ITS srANpeue
AND PROSPECTS IN THE UNITED STATE

WILLIAM sELIGMAN DISCUSSES ITS srAxpuo
AND PROSPECTS IN THE UNITED STATE
From The Paris Daily Messenger.
In order 70 ascertain the prevailing sentime.s
Partisan financial circles some Of the ouecis:.
of Immediate Importance to the United States ~
ks ps0Pb Sar s saa @
fortunate In finding the senior member Of tte IN
William Seligman disengaged: and In reply :
said that II was matter OF satisfaction 10 Is
that the predictions he had made some time ~
on this subject mad 10 5 s
metaism were sure would cease 10 become a.
thing but an article OF luxury; has no ,
the East India m.nt3 TO free coinage. been peod0e
and absorbed in enormous quantities.. and rs -
as a circulating medium remains undimlnshed !. -.
1t is. however. useless to deny that, notwithstaai
ing a very large ard Influential class In HroDs
favor universally fixed va.ue OF silver the time r.
this has not arrived yet. and II our tree-colni1i
partsans will only have patience until the tide ~
turns. until gold shipments from New-Ycsk u
from Europe smS TO he ed G s wSS Ia,
been the case and Will be the case again. ezsa
and surely not I'LL then. can free coinage OF ovR
be legally sanctioned In the United States viAess
injury TO the country I, Is useless to repeat The =
guments OF those who oppose free coinage At ~
tnt. With all the respect and Difference wh!el
owe to members OF Congress VINO favor iree sssas
gentlemen. or rather ask them 10 reflect upon ~
OF the many possible and probable consequencs z
not Europe and other States send enormous amsuau
OF silver to the United states and w1thdrav go!
TO believe the great banks would melt the lslNa
part OF their silver coin into bars and SEND me -
great portion OF silver plate and silver spoons ~
be melted and shipped. The profit OF IS 70 ~
be too large and too tempting, Many and otns g
the United States Of America should not ~
handed establish free coinage OF silver ~
while the mints OF all the great commercial -
ITO n
Jude 10 the excessive expansion OF currency. e
ave i PfI prssent would produce. II had the M
would force the free coinage Partisan,ss 49,
patience Let these gensIem NJ nr aey%s ne II
outflow Of gold. which will most probably soe~
mence again . -. A
by tourists in Europe is the chief cause OF gold Il
menfs. I have no doubt this Is one OF the - 49,
nh u. .n' PREACHING economy advising the pubko
5tay at home useless and LEAD 20 notmnxs
trip TO Europe Is amusing ana no more costly g
pa ssIng a season at the various summer rescfu
home and many pe9gs who c sa af anI o8er sons
Also not stopped gold shipments as predicted ase
hans pnreysnt entirely these gold shipments. eod
the same time cause perhaps many counenS
agree TO fixed silver value would De , pso ~
~ ,r,arna ,ional silver question IL satisfsctQI
arranged I would here remark tnat IN my o sya..S
n exed va.ue for Silver. but cannot DO % 400
have Of late become convert to protecss iess.
u,ayrcnandise and consequently checks god ~ ~
ment but have had occasion aisle s 70 con's and ~
first-cass manufacturers. VINO ss .ar,w cane ID
opsrstion their business was unproiuc,ive anc ~ -
a losing one and were II not FOR me noIe " -
manufactiring Every person will and snoS@ ,. rs
with me chat II is preferable for our anu. 4" a.
country than for them 10 work for notnlns " -
foss letting the profit go 10 foreign coun'ne~