The herald., 1897-05-15
THE INTERNATIONAL FARCE

OtnerS Win view TO lnQuce the rest OF
the world to unite with the United States
in some program by which all the mints
of the world will be opened to the free
coinage of the worlds product of silver
bullion. They go commissioned by our
government to the governments of Eu-
rope, but to hold conference with Euro
pean publicists and financiers as private
Fascinating in manner as these three
gentlemen are, they are playing in the
chief roles of the prettiest bit of high
bimetallic commission, when it returns
to American shores, will come back all
ready for burial, and the only suitable
epitaph to place above its tomb would be
that of the infant which died one hour
DID,
III 80 soon I am done for,
What was 1 begun for?"
In the mission on which they are sent
they have no more chance of succeeding
than they have of growing wings while
in Europe and flying home across the
seas.
1t will be granted that, unless they sue
ceed in opening the mints of Europe to
the free coinage of silver on private ac-
count they have failed in that for which
they went If the mints are opened to
the coinage of silver on private account
and these silver coins are to pass cur
ent in the countries where they are made
in payment of all debts, public and pri-
vate, they will be coined at some agreed
ratio of weight to the gold coins of
these nations and the ratio will be the
same everywhere. *
This ratio will be 151a to 1, which OBJ
tains in nearly all the coinage of Eu-
rope now in circulation, or 16 to /, the ra-
ito in the United States, or at some
higher ratio. If at the ratio of 151s or
16 to l, there is no argument used in the
last campaign on the Republican side
to show that the United States could not
safely open it's mints to silver that will
a
step, though taken by all the world to
gether. If single government is una
BILE to '1egislate value into product of
human labor" the same inability will
remain in spite of the laws of all the
nations of the earth The Republican
financiers and statesmen told us "the law
can add nothing to the value of COM
modify" Very we'll, then, ten thousand
times nothing is nothing. If it was rob
berry of the creditor in favor of the debt
or" to make 30 cents worth of silver dol
lar for the United States, it is highway
robbery to extend such a dishonest policy
to the business relations of the whole
world. And if the honor of the United
States was at stake last fall, that of ali
mankind is threatened by this amiable
trio which is now on it's way to Europe.
Indeed, the Republican party and the
Gold Democrats ought to send Bob Inger-
soil and Bourke Cochran at once to save
Europe from the debauchery o fits honor
by Mr.. Wolcott ct al. Again, if the pres
ence of a debased silver coinage was
so soon to drive all the gold in America
out of circulation and thus contract the
medium, this program threat
ems to do the same thing all over the
world and multiply the calamity hun
dred fold.
But the idea is "to change the ratio and
put in the silver dollar dollars worth
of metal" Is it? LIE US see.
The goldbug's notion of the relative
value of the metal Is 80 Of silver by
weight to 1 of gold, just twice that
which exists in our present coinage. The
United States has $548, 1000 in full le-
gal tender silver and $97, 200, 900 in SUBJ
sidiary coin. France has $430, 900, 900 sill
yer coin of full legal tender and $57, ,900,-
900 of limited tender. Germany has
S105, 100000 of the one and $110, 100000 Of
the other. In Spain the stocks of silver
coin are s126 ZOO, 900 and SAC, 1000 900. For
India the figures are $4,000. 900. And in
China $3.50, 000-all full legal tender
in both countries.
The world at large has in silver, coined
or stored for coinage, nearly all at the
ratio of 15k or 16 to for full legal ten
der money and from 1890 up to Is to
for limited tender, $4,071, 100000.
If the ratio is changed the several gov
ernments will lose about one-half the
value Of all their silver. The United
States would lose over $3OOO 900.
Frances loss would be $243, $50, 900. The
total loss to the world would be the
snug sum of $2,o35, 100000
Three wise men of Gotham went to
sea ina a bowl. The end was catastro-
phe. Three wise men Of America have
gone to Europe on as. foolish an errand.
The several governments of Europe
will never agree to any such program