The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1897-12-30
THE FRENCH PRIME MINISTER ON
SILVER.

SILVER.
M. Meline, prime minister Of France,
delivered speech in the chamber on
November 8, Oh the agricultural crisis
in that country. After explaining that
neither decreased rates of transportation
nor any excess Of overproduction, es.
pecialiy of wheat, can account for the
general and persistent decline in prices,
and after citing the conclusions Of the
English gold and silver commission in
regard to the advantages conferred on
the Indian over the English agricultu.
rist and manufacturer by the deprecia-
ton of silver measured in terms Of gold
conclusions confirmed by the reports
of both the English and French consuls
M. Meline continued as follows:
"This fact (the decline in prices in
gold countries while they have remain
ed steady in silver countries) cannot be
disputed, and the cause is easy to find.
Silver has preserved It's full value in
silver-stanoard countries, while gold has
appreciated, because 1t alone has enjoy.
ed the privilege of free coinage and has
thus become the only international
money that ia acceptable everywhere,
while silver has become simply COM
modify. The result has been that all
products valued in gold were bound to
rise, since, with the same quantity Of
gold, it is now possible to obtain q
double quantity of products, This sim
pie observation submit to the chamber,
for we may say that in 1t is contained
the essence Of the entire monetary ques
tion."
M. Meline continued that be was quite
prepared to concede oil the advantages
claimed for gold money, that it was the
most easily handled, and it would have
been better If there had never been n"any
other in the world. Then he went on:
"But the monometalists cannot, un.
fortunately, do away with the fact that
there exist 900 millions of human beings
who knew silver only, who use silver
only, who do business with silver only,
and who will not have gold. (Hear,
hear.)
"Opposed to these 900 millions OF hui
man beings who recognize silver only,
there are, / admit, 400 millious of gold
monometallists. 1t is quite true that
these 400 millions are among the richest
and most powerful nations, the nations
which are the creditors Of the whole
world. But these nations would be
highly imprudent to be carried away by
their strong situation and present power,
and to despise their adversaries; fol
these adversaries, the silver standard
countries, are young and vigorous ma
tons commercially speaking), with
whom labor is cheap, and who need
only engineers and master mechanics
and they are getting them already.
If to these advantages be added those
resulting from the use of the silver stan
, dard, which enables them to sell theil
! products at low price in our markets
which serves as protective tariff fol
them and tavors the development o
, their industries, it will not be matter o
astonishnent if some day transferenc'
ofpower is made in their favor, to tn,
serious detriment of the nations tina
now so pride themselves upon the golc
standard.
"Unfortunately we are powerless tt
settle this question entirely unaided, TO
it is pre- eminently an international one
No government can settle 1t in accord
ance with it's own ideas; it can only en-
deavor to bring about the solution whicl
it believes to be the best"
M. Meline next referred to the attemp
made this year by the United States ant
France to open diplomatic negotiation
with England to establish fixed party
"and so" he says, "put ap end to tn
monetary anarchy which exists through
out the world, and which creates sue
confusion in international commerce.
The attempt, he admits, was failure
England blocked the way. But, b
: said, "the attempt will bear fruit late
on. The day will come when the pres
sure of circumstances will force the ns
: tions of Europe to look this problem |
b the face and to solve it."
Q There is no doubt that the financial a
s fairs of France have been and are mar
u aged with wisdom and success. W
9 know Of no nation to compare With he
o in these respects; and M. Meline's r'
a marks are entitled to careful an
% thoughtful consideration.