The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-01-28

There is a proposition before congress
20 enlarge the use for silver by introduc-
Tag into the currency system an inter
national CON- on the style OF the dis
credited trade dollar. coined under the act
o. 1873. This comes In the form Of a bill
recently introduced by Representative
Beach Of Ohio. which. IL Is believed. con-
tslns features which VIII do away with
many OF the objections which were found
TO the trade dollar when II formed por-
ton OF the currency. Like some other sill
yer propositions. an international agree
ment' Is one OF the important features OF
the bill.
BY It's terms the president OF the United
States is authorized and requested 10 en-
ter into negotiations with the govern
ments OF China. Japan. the several re-
pubIics and colonies or the American
henispheSs. the Hawaiian iSiands and the
Domiaion OF Canada. with view TO Sc
curing uniform standard OF value In
trade and commerce"
sThls Is following out a suggestion made
by President Arthur I'm 1884 and developed
in a letter written BY Senator FrsMnghuy-
sen TO the chairman OF the senate commit
tee on foreign relations.
The Importance OF common standard
OF value between countries engaged in re-
ciproosI trade car best be understood by
references 10 the conditions IS they exist
at present. in trade relations between the
United States and the countries with
which It is proposed TO enter into 50
awresment II this character.
In most Of the countries OF South Amerl-
o. ne foreign trade. rs matter Of con
venlsucs. Is transacted IN pounds. Bhll-
lings and pence. owing TO the domination
Of Great Britain IN commercial affairs. An
American merchant purchasing cargo
in one OF these countries Is compelled hrst
10 compute its value from the local money
into pounds. shIlinss and psnce. make a
draft on Loaeon tor the payment then
reduce g 20 American dollars when hs
comes - make no his accounts Ia thIs
country Tbs cost OF exchange = very
heavy. N the nrst piece. thers = the o.
c!nsry market fluctuations In exchange.
dependent apon the condition Of tie mon
~ market. In addition 10 this is the
furthe- huctuauon based upon the con
Stantly changing price q silver
A disadvantage 20 the C-ited States n
these transactions Is that London = the
clearing house for mast " the snancIal
transactions between this country and
nearly al the other countries OF tnls hem
isphere, as wei as ChinA snd Japan. AT
u these countries are On a silver stand
ard ana are thus forced &c the expensive
system Of drafts vben II there were A
common standard ~ value exchange be
tween tAem and 10. United States. ex-
change would cost 40 more than II does
new between tae United States and Great
Britain.
TIE Besaa bal contsnplAtes such a
standard IN ,As form o, silver CON.
csgumsa % III countries TO the agree
ment ana representing the staadar. q
va}as FOR al countries .nterestea--a new
International trade dollar in xaicA ana ny
watch a. tsats transactions could -
naeas4.e1 sa3 al nns1 balances or accosnt
t~s a~-AS ~Ae3 NA40s
everyv ssre
sen CONS whlls not. - course. current
a. fAsr face va'as IN thls country. woa,8
he % current En- a. countries wAach arr
haw en- Ere saver standard Is Is neither
Necessary fss TIE success Of ere scheme
nor desirable. 50 Ear IS ;Ae United states
q soaesEns1. fer any % sae countries az
EaFoss 70 Sasss iats sss proposed eozu-