People's Pilot, Volume 6, Number 19, Rensselaer, Jasper County, 29 October 1896 — BISMARCK’S LETTER. [ARTICLE]

BISMARCK’S LETTER.

Free Coinage In the United States Would Hasten International Agreement. Governor Culberson of Texas on July 1 wrote to Prince Bismarck, asking his views on bimetallism and the likelihood of the United States government being able to adopt and maintain such a financial policy independent of any other nation. On account of inadequate postage, the letter was returned to the governor’s office, thus causing several weeks’ delay. Prince Bismarck answered as follows: ftriebridjSrul), ben 24.21ug.’96. ©eeljrter serr: geffilligeS ©djreiben bom 1. b. 3r«. babe icb erbalten. 34 fyabe fat* Snrtiebe fiir ttflbrung gebabt, ob'ne, aU id) tut State, tear, ben ©acbberftftnbigen gegeniiber mi 4 fto unfeblbar ju Raiten. 34 glaube nod) b««t M eS f idj emjjfieblt, b«« ©noerftttnbntfj ber am SSeltberfebt botjngfimetfe betfciligten ©tauten in ber JRidjtiing ber ju erftreben. ®ie ©ereintgten ©taaten ftnb nrirtb* djaftltd) fwter in ibrer ©emegnng wig eber tinjelne ber europai [4en ©ttra* en, nnb wenn 9?orf>«B(mertta ee mit einen bereinbar fimbe, in >er Btidjiung ber j£>opvelnKifyrung einen • elbflftfinbigen gu tbun, so |laube i<b, ba§ ein foldjer auf bie §er» ftellung internationaler (Sinigung unb beS %nf(bluffe§ ber europaifdjeu ©taa* ten bon ffirberlitbem (Einfluffe fein toitrbe. 2JHt ber SBerfidjerung meiner ausge« jeitbnetften so4adjtung bin id) Cater £>od)rt)ot)lgeboren ergebenfter ©iener t b. ® i mar cL TRANSLATION. Fbiedrjchsbuh, Aug. 24, ’96. Dear Sib—l have received your favor of the Ist of July of this year. I have always had a predilection for bimetallism without, when being in office, presuming to be infallible when confronted by experts. I still believe today that it is desirable to strive for the consent of all the principal commercial nations of the world in the direction of bimetallism. The United States are economically freer in their movements than each and every one of the European countries, and if North America finds it compatible with its interests to set an independent /pace, I believe that such a movement would be conducive influence to the establishment of an international agreement. Assuring you of my most distinguished estimation, I am your excellency’s most obedient servant,

v. BISMARCK.

It Is the appreciation of gold’s buying power which is causing this congestion of business' and falling prices. Money Is hoarded because it is growing in buying power. When money falls in buying power, property goes up. Then money comes out from its hiding places, and the wheels of the factories are set in motion.