Show TrI AITOR SHERMAN r 10 do well to keep ahli letter of III in lit wad mind treasury department july 15 dear sir to that port ot at your letter of the dinst in which you ask my lows of the matter confided is in the monetary commission I 1 hae haie some soine delicacy in replying very fully dur ing tho the monetary confer conference crice in paris when in cur our country was excluded from circulation b being undervalued I 1 was strongly in favor of the single standard of gold and wrote a letter which you will find in the proceedings of tho the conference stating briefly my view at that time tho the wisest of us did not anticipate the sudden f fiji JA of silver sliver or the rise of gold that baa occurred this uncertainty of the rel la lion between the two metals Is one ot it tho the chief arguments in favor of a monn moan metallic lc system but other showing the dangerous ellece upon industry by dropping ono one of tho the precious metals from the standard of value outweigh in my mind all theoretical objections to the bimetallic system I 1 am thoroughly convinced that if it were ere possible for the leading commercial nations to fix by agreement an arbitrary reia relation tion between silver anc cold gold even though tho the market alua might vary somewhat from time thile to time it would be a matsure of the greatest good to all nations my earnest desire Is that you may succeed in anoina this you aro are so well informed upon th tha 3 subject that it Is not worth wall hilo for me to enlarge upon it the statement statements and documents sent you by the dinac ill rc tor of the mint will give in authentic form of at the material facts which bear upon tho the question and your own investigation upon the silver commission will I 1 am quite sure supply any deficiency very truly youre yours JOHN SHERMAN secretary Secre lwy W S grosbeck esq cincinnati 0 |