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Updated: May 12, 2025
As many of the countries furnish no bullion to the common stock, the surplus production of our mines and mints might thus be utilized and a step taken toward the general remonetization of silver.
If, in 1876, I had anticipated the immense increase in the product of silver, I might have hesitated, but in the view that I was then able to command I had great confidence that a bimetallic arrangement might be secured. The majority of the commission favored bimetallism but they demanded, first, the remonetization of the silver dollar.
William S. Groesbeck favored the remonetization of silver at the old relation in the United States of 16 to 1, and was joined in this suggestion by Mr. Richard P. Bland of Missouri.
The principal European Nations were present with the exception of Germany. The Commissioners receive the impression that decided progress had been made towards the remonetization of silver in Europe, but subsequent event have not vindicated their judgment. Mr.
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