THE SILVER QUESTION.

New Zealand Mail, Issue 1289, 12 November 1896, Page 11

THE SILVER QUESTION.

We are in receipt, from Budapest, of a circular letter dated September 20, 189 G, in which the members of the International Agricultural Congress, held at that place, place on record a number of facts which will be read at the present juncture with a great deal of interest. The circular is signed in the names of members of the British House of Commons, of the German Reichstag, the Prussian Diet, delegates of the Belgian, Austrian, Dutch, Hungarian, Danish, French and Russian agricultural organisations, and of agricultural journals and colleges. The circular says : 1. That during the three days' debate, not one speaker has donied that the depression in agriculture results from the phenomenally low prices of all the products of agriculture.

2. That the connection between the currency and agrarian issues has been almost unanimously affirmed by the representatives of agriculture at this Congress. 3. That the great majority of the speakers, independently of their currency views, confirm the opinion of the leading agricultural authorities that there is no over production in cereals; and therefore the fall of prices cannot be referred to over production. 4. That every Gold Monomotallist speaker has admitted that JJimetallism would raise the price of agricultural pro-

duce. 5. That no Gold Monometallist has used the argument which used to prejudice the position of the Bimetallisms, namely, that the restoration of silver to legal tender is a device of indebted landholders who wish to pay their creditors in a depreciated currency. The signatories are convinced that the existing crisis in agriculture can be arrested by an international settlement of the currency question, and they therefore are of opinion that it is the first duty of the various Governments to co-operate, without delay, so as to secure a settlement of the currency and exchange trouble.