National Republican., 1878-09-23
THE MONETARY CoSrEHEScE.

THE MONETARY CONFERENCE.
The deep interest felt in this country on
the subject Of silver as o factor in our cur
rency since its reconciliation, of course for
a time centred in the monetary conference
and its results. The New York HcrdH now
the most intelligent inside view
of the workings of that congress and the
influences that shaped, nodded, and deter
mined its actions that we have seen. The
Latin Monetary Union, so-called, is COM
posed of France, Italy, Switzerland, Bel
GUM, and Greece. Italy is poor, and has q
forced currency of paper While she re-
mains in the Union she pays no specie. She
has only the benefit of the silver she has
coined, but most of it is held in France I'M
der the effects of suspension. France, in
her sclfshness, holds Italy on her hip, and
to retain her present advantage did not
favor the aims of this country in asking for
the conference. OF course as France does so
does Italy. Belgium alLo has relations with
France which stood in the way of its favor
Ing the objects of the conference. While
Belgium is solvent, gold-paying country,
if France were to assert bi-mctallic policy
then Belgium would go with England or
Germany. When the conference was called
Belgium was in favor of n bi-metallic stand
ard but a change was occasioncd by polit-
ical change or revolution, which threw out
the Ultramontane party and brought the
Liberals to the front. The old ministry was
bi-mctallic. while the new one is headed by
4 strong member of the gold party. This
party was represented in the conference,
which had the effect to make France re-
served and wary, and thus the cause Of the
United States was weakened.
Germany held peculiar and somewhat
unfortunate position. The countries which
used silver had become angry with her be-
cause they hold that she demonctized silver
IN q wanton spirit and without regard for
the wishes Of other countries. This feeling
induced the silver countries to abstain from
doing anything that would benefit Germany
rs nothing would do her 50 much good as
the opening of n market for her silver, and
the adoption of the double standard would
accomplish that end.
Holland sent two dclegates-MEES and
VK0LICH. The former is gold advocate
while the latter was favorable to the double
standard Unfortunately he became i'll
and could not attend the conference aud
his colleague asserted all his power in be-
/ half Of gold.
| S,,,.t,, t,l h,-n infn
rgible gold advocate Greece remained 81.
lent. and sweden and Norway were in sym.
pathy with switzerland.
England found herself in very embar.
RAISING position. All her home interests
were in Svor of gold, while those of Indii
were favorable to silver. The demonctizina
of silver has cost her India interests n los
OF E2,ODO,OOO q year. 1t, however, takes
and holds the position that, while silver il
not good enough for England, it is goot
enough for other people. She is strongly
intrenched in her gold position, and yet sh
does not desire an Europe to follow her ex
ample. In this she is more selfish thai
consistent.
The European position may DE brief,
epitomized thus:
Germany was absent, but all the nation
were against Germany. Spain was absen
through some unexplained action of the Amer
lean Government. If she had been present sh
would have supported the American position
Austria, Russia, and Italy were with America
Neither of them were strong enough to hay
any influence, as in all of them specie payment
. were suspended. Switzerland was uncOmprC
Z mslng aud always against us. So were Swe
, den and Norway. Belgium and Holland wer
opposed to Us, but not altogether to our theorie
) They saw no reason why other nations shOul
e not have silver, but they preferred golC
France was in sympathy with the America
. view, but there were diplomatic reasons ari
:, ing out Of her position in the Latin Union an
a her position toward Germany which made
, impossible for her 10 declare herself Englan
was in favor of both staudards-gold for he
; self silver for other people. Any way and bot
= ways worked her gain. She needed gold f'
4 home, silver for India Tho practical pOsitO
Of India, contrastcd with her attitude at the la
: conference, was regarded rs the evidence OF
t great change IN the minds of her statesmC
h aud rapid acceptance of American ideas.
It The United States were represented wit
II especial ability by her representatives, an
= her interests were defended by the power
II their united abilities and with cOnsummn
l. skin. The inference is drawn from the d
II noucmcm of the conference that nothing W
,e gained by this effort, or rather that our rel
r. rcscntativcs were beaten in the argumen
II but that is not warranted by the fact
e There was a disposition all through the co
i pre7S, except with Switzerland, to consid
d the bi-mctaIic standard, but the compile
Al tions and diplomacy of the Old World rel
h ly controlled the result. The preponde