The silver lance., 1897-10-08
FRANCE FOR SILVER.
ALL EAGER FOR sIMErALLlsM.
The sentimeLI In Favor Of Free Coinage
Said to Be Almost UniversAL


Chicago, Sept. 3O.-Mr. William E.
Curtis, the able correspondent Of the
Chicago Record, writes as follows from
Paris:
Although France is not a silver-pro-
ducing nation, the sentiment in favor
of free silver coinage is much more
general here than in the United States;
in fact, 1t is almost universal, and the
advocates include not only the Presi-
dent, the ministry and the majority OF
the Senate and Chamber of Deputies,
but several Of the most powerful finan-
ciers in the country, who are presi-
dents of banks. trust companies,
boards of trade and other commercial
organizations and corporations. Among
the active members of the Bimetallic
League are NJ. Meline. president OF the
cabinet; Henri Boucher, minister of
commerce and industry; NJ. Loubet,
president. and NJ. Magnan, vice presi-
dent of the Senate, who is also presi-
dent of the Bank of France; NJ. Seb-
line, president the National Manufac-
turers' Association; Edward Gaze,
president of the National Agricultural
Association; NJ. Muzet, president or the
French board of trade; NJ. de Vernel,
president of the Paris stock exchange;
NJ. Herbault, president of the stock ex-
change last year; NJ. Tetard, president
of the Sugar Manufacturers Associa-
ton. and other men of similar stand
ing in the Republic. Outside Of Paris,
among the active members of the
league. are the presidents Of several
chambers of commerce, boards OF
trade, stock exchanges and other hnan-
cial, commercial and industrial organl-
Zations In fact, the class of men VINO
are most interested in the movement
here represent interests similar 10
those of the leaders of the gold bugs in
the United States. The Bimetallic
League has in its membership 52,OOu
active business men, manufacturers:
merchants. bankers, capitalists ano
others of large interests and Response
bilities. 1t has the cooperation OF lZS
Industrial and agricultural associa-
tions.
Last winter the Chamber of deputies
passed a resolution by two-thirds
vote, declaring that ''the establishment
Of International bimetallism would ne
a great benefit to the agricultural, IN
dustrial and commercial interests OF
the country, and we urge upon the gov
ernment the advisability of doing all
In its power to establish and maintain
by international agreement a stable
parity of exchange between gold ana
silver"
This resolution was introduced by NJ.
Meline, prime minister of the Republic,
and represented the views of the gov
ernment.
The government of France has been
able to keep its silver money at par
with gold by a firm determination and
able management. and because of the
high credit of the Bank Of France,
which has withdra from circulation
and holds in its vaults as part of Its
reserve $250.0OO,0OO OF the silver coin
of the Latin union. The confidence of
the people in the bank is so complete
that they are willing to take its notes
without inquiring whether they are Sc
cured by gold or silver. although the
people are perfectly aware that the
bullion value of the silver coin is not
more than half as great as 1t was
twenty years ago. If crisis should
arise under which the bank might be
compelled to pay out all its gold or is
sue a large amount of silver. 1t is as
serted that the whole French nation
would unite to sustain its current value
and make good any loss that might be
Incurred in the discharge of such an
important public duty.
Nevertheless the existence of this
large amount Of silver is one of the
chief reasons why the French govern
ment and financiers are so desirous of
maintaining a parity between the
metals by international agreement.
They desire to reinforce with the aid
Of other nations the weak spot in their
financial system.