Word: silver
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Dates: during 1890-1899
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...United States in February 1878 at Paris to consider the monetary situation could not take any steps towards bimetallism. England was a gold using nation and her delegation had been instructed to make no concessions. Germany had not accepted the invitation to the conference, because of her demonetization of silver. Switzerland was for gold, as were Norway and Sweden. Belgium was drifting to monometallism, and France was in critical relations with the Latin Union...
...recurring crises rendered the idea of a universal monometallism an impossibility. When in 1881 the United States and France issued an invitation to another conference, the gold monometallist had been put on the defensive. The statement made by Mr. Goshen of the English delegation, that the complete demonetization of silver portended a violent crisis, and the able defence of bimetallism made by M. De Normandie, governor of the Bank of France, were the most important results of this conference...
European sentiment on money matters began to change, after this, until in 1886 a Gold and Silver Commission was appointed by the English government to examine the questions of currency. The three reports of this commission,- a unanimous report of all members, a report signed by the six monometallists, and another signed by the six bimetallists,- are a mine of wealth for the financier. The commission formally admitted the efficiency of the bimetallic system in maintaining a constant par of exchange...
Just at this period production increased and silver accordingly fell still lower...
...United States the coinage of silver dollars was stopped by legislation in 1873. From this time dates the agition of the "Silver Question." Silver was, however, remonetized by the Bland Bill of 1878. In so far, the step was a wise one, but the unfortunate clause, providing for a minimum coinage of two millions per month was disastrous. The United States was thus made to act as receiver of the surplus foreign silver. Furthermore, this bill had the effect of confusing the whole question, creating the false impression that its evils were due to the principle of bimetallism...