Nomisma Or Legal Tender

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Cannot France and the United States, provided the latter resumes specie payments, sustain the bi- metallic system without the aid of England and Ger- many, or of either ? A. I have no doubt of it. You have seen France maintaining for a century the ratio of fifteen and a half between the value of the two metals, in every part of the world. Since 1871, cer- tainly, the circumstance that Germany has renounced her ancient silver mono-metalism is disfavorable to bi- metalism. The accession, the fran...k and courageous accession, of the United States to the bi-metallic sys- tem will more than compensate for that disadvantage.
Q. Would not France and the United States in that event have a better monetary system for the people than is that of England or that of Germany? A. Yes; a monetary system based on two metals is more safe than it is when based on only a single metal. England has suffered many monetary crises, simply because she had only one metal in circulation.
By the CHAIRMAN : Q. Would the fluctuation in the value of services and commodities be as great under the bi-metallic system, provided one or two great nations adopted such system at the same relation of value between gold and silver, as it would be under the mono-metallic system, even though a variation did occasionally occur in the values of the two metals and the temporarily cheaper one were used for the purposes of payment ?


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