St. Paul daily globe., 1896-02-09
GERMAN GOVERNMENT OUTLINES
IT'S POLICY In RELATION TO
SILVER.
|. MONETARY CONFERENCE
is NOT ALTOGETHER DESIRABLE
OWING TO STAND TAKEN BY
OTHER STATES.
An Event Not to BE Expected Very
soon-Kaiser Grieyed at Run
yOn,s Death

BERLIN, Feb. 8. The pressure
brought to bear upon the government
by the German bimetallists has re-
suited in sqeezing from the ministers
a statement on the subject. The i'm
perial chancellor, Prince Hohenlohe, in
the reichstag today, made the following
declaration in this connection:
I'VE have gone exhaustively into the
question Of raising and STRENGTHENING
the value of silver with the federal
government, being guided by the con-
viction that the fuctuation and heavy
fall in the price of silver entailed econ
omie prejudices in Germany in spite of
the fact that her monetary system
rested securely on the gold standard.
AS the secretary of the treasury stated
on Feb. Ia, 1895, the first point to be
considered is the serious injury to
German silver mining. The produc-
ton of German silver amounts to about
per cent of the total output of the
world. A fall in price is not of such
moment in the immensely larger pro-
duction Of foreign ores, but to Ger
many 1t implies such power in value
as to endanger home silver mining.
Another point is its influence upon
German exports to silver countries.
There is no doubt that the trade with
them is made much more difficult by
fluctuations and the fall in silver. al
though lately the fluctuations have be-
come comparatively small, and those
interested have been able to find
means of security against losses [
do not underestimate" he added. ssthe
Importance of the effects produced by
hut hax
placed too high. Our exports to silver
countries amount only to three-quarter
per cent of our total exports, and in
spite of the setback during the months
when silver fell, they, on the whole,
have made favorable progress. The
official statistics prove that the depre-
ciated currency of silver countries con-
tributes to facilitate competition with
the exports of those countries, until
the moment when a tcompensating in
fiuence rises, and home prices and
wages establish themselves, the final
result being that silver coins become
degraded to the level of paper money
This depreciation however, does not
endangeri our currency; because our
trade Is abundant1y supported by gold,
and the imperial bank notes adequate
ly covered by the gold reserve, and the
silver money does not exceed the de-
mand which, even in times of crisis,
is not likely to diminish.
"The bimetallists recognize in the re-
opening Of the Indian mints a con-
dition precedent to
UNLIMITED COINAGE,
and / concur, as believe that other
wise all efforts to raise the price are
vain. The opening Of the Indian mints
is not expected :, within measurable
time, as I have learned from prelim-
mary negotiations with the British
government
ing: "a monetary conference would
not bring the question nearer to a
practical solution, and therefore it ap-
pears to be undesirable that Germany
should take the lead in sunlunoning a
conference. The federal governments
acting upon their conviction, have DE-
cided not to take further steps in pur-
suance of the resolution. of the reich
stag of Feb. 16, 1885, If, however, def
mite and acceptable proposals promis-
ing success were made on behalf Of
another state, I should duly consider
the question of German representa-
tion at a conference"
Emperor William has been much
grieved at the death of Theodore Run
yon, ambassador of the United States
to Germany. On Monday next quite a
a large NUMBER OF strikes Will be 1nau-
gurated in different parts of Germany,
the most important being that of the
Home work seamstresses In Berlin,
Hamburg, Stettin and Breslau, affect
ing altogether about 65, 900 persons The
carpenters, bricklayers, ETC., are also
declaring strike, and other trades, it
is announced, will do likewise. The
building trades strike, it is said, is in
anticipation of the demand for labor
which will be caused by work upon the
Berlin exposition.