Show PARTIAL BI george augustus haig au an expert encee english financier has written an open letter to president cleveland in which he suggests a plan by which in the international monetary conference to meet at brussels Bruy aels on may colbs auth the operation cooperation co of england might be obtained obtain eu to such au an increased use of silver as would make it possible for the united beales mexico and india to reopen the whole of their mint 4 fir the unlimited coinage of both silver and gold at the old european ratio of ai weights of silver ail ver as the equi equivalent of I 1 weight of gold he cites the danger which forces england prance france austria and germany in adopting a bt metallic standard because of the great financial fossit loas it would cause them in making the change and in being subject to the ehfe peril of fraudulent coinage he then proceeds now my suggestion to la that the united states government should propose to the british government as follows 61 1 I ez extend tend the legal leeal tender to silver coins from za 2 up to xa 6 and make your silver coins full weight that is one pound in sliver silver coins shall contain as much pure silver by weight as 15 sove s contain of pure gold by weight 2 call in all your gold half sovereigns ere igns and issue a new full weight silver coin worth ten shillings to the number of ster ling ing and order the bank of england to look those up in the issue department and to nave have all the half sov which come in coined into gold pieces of 45 5 each and not into sovereigns ere igns IS 3 call in sovereigns to be coined into 45 5 gold pieces ec and ag against a dinst them issue worth ot new full weight silver coins 59 or pieces to be locked up in the bank of england and order her to issue of notes against them za 1 or 95 5 notes as aa pleases yourselves 4 As england will thus be called on to make a very heavy purchase of silver bullion she will need more than one hundred dred and twenty million ounces I 1 would recommend the united states government to offer to supply the british government with one hundred and twenty million ounces ounce of pu pure silver at ninety cents per ounce it will sugar the pill and make it more easily swallowed you have plenty of silver bought a long way below 90 cents i 0 io o you would make money by the transaction now as to germony and austria hungary I 1 think it would be a prudent thing to propos elf if they thery adhere to their gold fits standard nd ard jermany germany has L aken silver coins a somewhat simlar arrangement ask them to call in sll ill their small gold coins and to coin full weight silver coins to the same amount as those called in at to 1 germany has gold cina of 10 marks and 5 marks which should be called in the twenty marks are a trifle erfle less lesa than the english sovereign austria hun gary has goll of 8 and worth 20 and 10 francs franca each abe 4 floria coins should be called cal ledin in she also has the gold ducat worth 11 francs 55 centimes cen times which should be called in and also the quadruple ducat worth 47 francs 41 centimes cen times which or course would rei remain nain and they likewise should be asked to coin the small gold coins in the largest sized gold coins they have as suggested suggest d for E igl figland igland nd a as to to ake them out 0 circulation and to have them locked up in th bank as part of the gold reiser serve ve toey both have more silver than ihan they want so woula not want to buy silver of the U 8 A treasury as I 1 suggest for england the indian empire has almost no gold coins but the gold dobur 15 rupees is exactly the same weight and same alloy one ode twell h alloy as the silver rupee her ratio Is therefore out of order aney should b s called in and de and she should be asked to make her ratio confirm to 15 to 1 and not to coin a smaller gold coins coi tie then than tao rupees nearly sa 5 which would prevent any gold circulating now it if all the foregoing could be arranged I 1 venture to think that the united states and mexico mexica might uok the latin monetary union and ana all the other states of europe except england germany and austria hun glary gary as well as the indian empire to join them in simultaneously reo reopening ening all ail their mints to the unlimited coinage of both silver and gold at the old french ratio of 15 kilos of pure silver as tie the equivalent of 1 kilo of pure gold charging in each country a uniform mint mintage size of three quarters of a per cent on silver and a quarter of a per cent in gold silver is more work than gold and each county making its gold and silvar coins coias contort to the agreed ratio but in order to secure the frank adhesion of the latin monetary union and the rest rent of europe I 1 venture very respectfully to suggest that the united states should come to un an with mexico so that six months after the mints are open no silver shall be sold gold in any part of their dominions at a less price than 16 ounces of pure silver liver for one ounce of pure gold with a discount to the buyer ot of aj per cent now how is this to be done well lot let each republic pass a law that all silver produced in their dominions shall be deposited in certain convenient storehouses store houses provided by each governments government and under the control of government officials further that when silver to is deposited there the owner shall receive as soon as it is assayed legal tender notes ot that government at the rate of 85 cents for each ounce of pure silver deposited and also a certificate numbered and dated that such a weight of pure silver had bad been that day deposited anti and so much advanced thereon and that when such silver should have been sold the holder of that certificate would be entitled on presentation to receive the difference bet between bethoon woon the advance made and the not net abou amou amount at the silver produced but subject to a deduction of aj per cent on the whole value to cover cost of storage and of management buch an arran geme it I 1 venture to think would be satisfactory to the present mine owners because for a long time past diey viey have not received 80 muc as 85 cents pe pur ounce of pure silver and if as la Is probable this thia arran arrangement raised silver to its ita oll oil purity 16 to 1 it would be worth cents but they have expenses of sale to deduct now in the arrangement ran rati gement I 1 suggest they would ultimately receive 1 I ounce of gold less 5 per cent for discount anu ana expenses for 16 ounces of ofa silver ilver 11 he then gives further details and takes up the quest question loo can the united states slates do db it to which he makes an emphatic affirmative reply |