New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-19

goods for no American manufacturer could know
what the price agreed upon in terms OF foreign
should be made months hence. He would have to
buy gold option 10 have any certain basis OF cal
our manufacturers, let us suppose that contract
for about 10000 worth OF mining, machinery Is to
which we stand well to The front. and our people
are alert for such contracts; II one OF our manu-
know first how he IS to be paid and will and tina,
he is 10 be paid in sterling exchange drawn on
He must next know what the exchange Will be
worth when converted into he m9nsy OF ms 9s
II is not enough for him to know what Il Is worth
Know whether ~ he has secred the
bly, six months more before Il is filed ana anothcr
Knew Knew What this s'V Exchange viii worth FAR
ahead as nearly year from the date ne is 10 MAKE
lated An English pound sterling by reason Of the the
amount Of gold 1t contains is always Wo'th - oVe'
the fluctuations OF London exchange are therefore
restricted approximately the cost OF shlpeng
England Blu; If our money should no Longer bear
hxed relation TO the worlds money untr ~ nricn
Africa, the question OF what tnt con. o,id he
would yield year hence in our money "ouiu DE "
The manufacturer would then go 70 gold broker
and ask what he will pay for say, f2" OF s,crins
will ask if he will agree 10 deliver tnnI ds not in
exchange az that time The manuiactureI - ~ no. Ma
position 70 DO ha, f0T ne r o1fs the option Of de-
verng 10 the broker 10000 in London SIX nouns n1
hence. a
paid. will name the sum in our money when ne
will agree give at hat time In fxhs rIS s o,,r
ne calculates the probable huctuation between our
money ana that OF England and adds percentage l
for his profit Here. have already InuIC sr
VICE 70 be paid for by either the producer or the
consumer In agreeing 10 take this sum OF en- ~
exchange AZ a given time and pay certain sum -
our money for II. the broker assumes risK
he must be paid for whether the mahui S, he
eDjon o and paw for it before he s IN position TO
Nc safe bid for the proposed contract There
l,.ff n Of !
who desire bid on the one contracI an not
each OF them has bought ms The
be that no one OF them will get the cohIaS' ne
contract may go 10 the lowest 6idaer a'i payn ~
facturer IN another country WHO does n.y. he COM
tax 10 pay and will enjoy an advantage III 'Ae GUM
In bryef we would after passing the shock and
disns,nr a+tendant upon q change In the legal
standard Of value reach the condition W'c renort
Russian Minister Of Finance, in MS ollcieI ItIoI
on the budget Of that empire for lS9" described
in the following innguage;, ,,o -o,o ~ exchange
had a very bad influence on Russian commerciai
life Agreements which had any relation ditec.y
or l1dTcoy loss by the socsed covering
risks proved generally improbable Inc mos
Tbe Cconiiderse Attenuation Of the rube caused
rate OF exchange feii It embarrassed the import
OF foreign goods and IN case OF adSanSe, ia,
ton: hence some spectators gained large, un-
mcrited profits. and others lost, on the average
orally s;ained large, unexpected losses. which
often embarrassed enterprises
BIMETALLISM MUST Re INTERNATIONAL.
II is at this point that the radical difference ap-
pears between international bimet aism and the
Democratic scheme for the free coinage OF silver
without the aid or consent Of any other nation
International bmetallism means the same measur-
ing rod over values both AT nome and abroad IL
involves use Of the worlds money, ana re-
sultant harmony in the exchanges Local oi-
metalli.rn' means a dislocaton between the lhl'ed
States and the rest Of the commercial world in a
r,o,ev standard Besides all the other losses and
derangements already pointed out. II means posi-
ton OF continuous disadvantage in the competition
! for the worlds trade and commerce. Nothlhs
| but the blindest disregard FOR the economic laws
| which govern US surely than DO statutory
enactrnents can lead US into such a folly For
! international bimetallism the Republican party
/ stands pledged. To secure II, all honorable ahu
proper efforts will ne put forth; but. until II can
be secured Il is manfestly for the interest," OF our
people to preserve, By all proper means the pres
/ emf gold standard Through II we measure ~ me
| eame rula with which our competitors measure
and bv II we contend IN the struggle for CONNER
! cial supremacy with weapons evenly matched &c
! those OF our we-armed antagonists