The Portland daily press., 1878-03-16
GOLD AND SILVER.
The Proposed International Conference
to Establish Bi m talIic Mouey

The Proposed International Conference
to Establish BimetalIic Money.
WASHINGTON, March 15.-The Secretary of
State has addressed the following letter to our
ministers abroad:
DEPARTMENT OF STATE,
Washington, March IL, 1878.
Sir, enclose herewith a copy OF an act OF
Congress authorizing the coinage of the silver
dollar and restoring its legal tender quality.
You are requested to bring this enactment to
the notice of the government to which you are
accredited, and in accordance with the provis'
ions contained in the second section thereof to
invite said government in the name OF the gov
ernment of the United States to join the United
States in a conference to adopt common
ratio between gold and silver for the purpose Of
establishing internationally the use OF bl-me-
talic mouey AMI securing hxity OF relstve
value between those metals sncn conference ~
be held at such place in Europe or ia the
United States, at such time within six months
as may be mutually agreed upon by the execu-
tives of the governments joining IN the same,
whenever the governments SO invited or any
three of them shall have Slgnlhed their Will
lingness TO unite in the same.
As the President in his annual message to
Congress distinctly expressed his opinion in
favor of maintaining silver as one of the two
precious metals of the world and keeping up
to as full measure as possible the volume or
the two precious metals as our intrinsic money,
| and as the act of Congress to which your AZ
| tentiOn is now called was passed by very great
| majorities OF both houses, the policy OF this
| country in support of bi-metallic money may
| be considered as decided. The position of the
| couatry commercially from its relation to the
Western and Eastern nations of the other
hemisphere gives to it paramount interest in
proper adjustment of the two precious met.
| ais in their common service in furnishing the
intrinsic and universal money of foreign
trade, and besides as a principal producer Of
| silver this country has just disposition tC
| promote one of the important uses of thai
precious metal as a constituent part of the
money of the world.
You will therefore promptly attract the gov
eminent to which you are accredited to thu
great interest which this government feels il
the measure now proposed for conforming thu
coinage and proportions OF the two precious
metals in the systems of the countries invited
to participate therein to the common adval
tage of the commerce of the world. st
| You will observe that an early adhesion OF .
least three European nations to this project o
a conference is OF first Importance. Ih
being secured, it will be in the power of tn
President to appoint the commissioners pro
vided for in such case by the act of Congress.
| You will communicate to me the wishes o
preferences OF the governments addressed Of
this subject through you as to the time am
| place of the proposed conference that con
currence on these points may not be unneces
ssrily delayed, and if necessary may use thu
telegraph for this purpose.
Your obedent servant,
(Signed) WILLIAM M. EvARTs,