142 BULLETIN OP THE 



with that doubt dispelled, our bouds can readily be placed on the 

 world's market at the greatly improved rate of 3 per cenfc. per annum. 



To this end it is desirable: (1), that the forced coinage of our 

 legal tender silver dollar (of 412J grains silver 9-10 fine) be 

 discontinued; (2), that on all future coins and on bullion, be 

 stamped their weight in grammes, and their fineness 9-10 ; and (3) 

 that an international commission be created whose duty it shall be 

 to periodically (annually or oftener) proclaim, based on the market 

 quotations of the few months immediately preceding the date of 

 the proclamation, the value in gold of an equal weight of silver ; 

 and (4) that the metric-stamped coin and bullion at the proclaimed 

 ratio of value, shall each be equally legal tender of payment in 

 unlimited amount, until the issuing of the next periodical procla- 

 mation. 



This would be true bi-metallism. The adoption of the proposed 

 ratio, 15 J, would be silver mono-metallism under the misnomer of 

 bi-metallism. 



By the adoption of the true bi-metallic method proposed — i. e. 

 frequent periodical publication of the true market ratio, instead of 

 a single arbitrary proclamation to last for all time — we should 

 stand before the world with our willingness to pay undoubted, and 

 our ability to pay unsurpassed and paramount among the nations, 

 and our national debt could be placed on the market on more 

 favorable terms than that of any other commercial country. 



At the conclusion of Mr. Elliott's remarks, the Society adjourned. 



198th Meeting. April 16, 1881. 



The President in the Chair. 

 Fifty-four members and visitors present. 



The minutes of the 196th and 197th meetings were read and 

 adopted. 



The Chair announced to the Society the election to membership 

 of Mr. William A. DeCaindry. 



The first communication of the evening was by Mr. Alexander 

 Graham Bell, announcing to the Society, the discovery of 



