New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-24
THE WORLDS MONEY.
THR MEETING AT PARIS.

IRON OCCASIONAL CORRESPONDENT OF THE TRIBUhE-l
PARIS Aug. 1.-THE presence IN Paris OF 80
many learned and distinguished foreigners at thls
time has given rise to number OF interesting con-
ferences and congresses mostly OF literary or SCI
entifc character. The objects of these meetings
were not, as general rule, immediate or practical
and hence the world at large has given them com
paratiyey little thought notice. 1t is different
matter, however, with the International Monetary
Conference which Is now in session here for it IS an
Official gathering Of the most serious importance,
and if it arrives at any definite decision will affect
in greater OF less measure, the commercial and
financial relations of the principal Governments OF
the world.
The grave interest of this Conference is fully rec
ognized by the Powers of Europe, and as some OF
the most eminent financiers and economists OF the
various nations are here in representative capac-
ity, the discussions will doubtless be marked by
much ability. and the intricacies of the gold and
silver question will be thoroughly exposed. In the
Conference the United States delegates will act a
leading part, primarily perhaps because the gath
erng assembled at the invitation of our Govern
ment and also because there is already manifest
disposition on the part of the European commits
sloners to defer to the wisdom and experience OF
Messrs Fenton Grcesbeck and Walker IN many
particulars.
The Conference was formally opened on Saturday
the 9th inst, in the spacious and magnificent re-
ception salons of the Palais des strangers. Inc
suggestion that NJ Leon Say, the eminent French
Minister of Finance, who was present as delegate
should assume the chair, met with the hearty APP
prevail of the United States Commissioners; and,
when the proper time had arrived, Ex-Governor Fen
ton called the assemblage to order, and presented
the name of NJ. Say, who thereupOn took the char.
He paid our Government the compliment Of naming
the chairman Of the United States Commission, eX-
Governor Fenton as vice-president, and then made
a short address of welcome, enumerating the OBJ
jects of the Conference, and giving brief history
of the recent gold and silver agitation. Nj. Says
delivery is rapid and flowing, and his musical voice
and the rising cadcnces at the end of each sentence
are quite attractive to American ears at least Aim
conclusion of his address he called upon Ex-Governor
Fenton to present the objects of the Conference as
viewed from the American standpoint, and that
gentleman responded as follows:
Mr. PRESIDENT And GENTLEMEN: As the representa-
lives OF some the watch have accepted al
invitation 10 this Conference have not yet arrived We
visa u say very little at tins first nertnc than to
.hauk you, Mr. President, Tor your words OF welcome
Tae Government OF the United states, however, haY-
ing asked the Governments Of Europe To JON la con-
her representatives desrr at The outset to tx
rress the acknowledgements OF their e21rtesy 10 te
We not only recognize the courtesy ana TIC REGARD
for the Interests Of the great family OF nations
which have Inspired your assembling, but we also ap
pTCciae the hOpetuness impaired 10 thls gracious re-
sponse by Inc selection OF 50 distinguished body Of
gentlemen to consider the Important subject mtfused
II "A a happy circumstance that In the liberal spirit
Of our age Governments and peoples come together not
merely preserve peace but q cultivate ITS arts ana
nron0te its Industries. We meet WINE Europe l., yet
celebrating the recent victories OF peace ana while this
stately capital witnessed the nChle display OF the
worlds progress 1t with real pleasure that the rep
rssntttves Of The United states congratulate you upon
the assembling OF this conference amd these aspclous
surroundings, 10 undertake work 50 closely allied WIN
tie common good. IL marks the DeDehcent advance Oi
civilization that the commercial reauOB OF different
countrit grow nearer end nrncr year Dy year Thus
we come 10 see more cemlY the community OF interests
among nations, and are wisely prompted 10 cultivate
more and more friendly intercourse. Among the meas
ures this end cannot be nseusbe 90 the dement's
which would flow from uniform basis us 10 lnteTna-
tIOnal coin metal exchanges.
The experience OF mankind has confirmed the employ
ment OF the Two precious metals As tHe money Of the
world and IN the long records o; Time uoth have played
honorable parts Ia the grand economY Of material de
veloDmcn They have been faithful servants IL seems
% speaking for our Government Oettr 10 try ana
hold them both despite the TACT that they do not always
pull evenly together In this respect the Lesson OF his
Tory pOinis equally 10 the Importance and success OF
general cooperation, for nnd that, IN the long run.
tne equilibrium has well kept. Whatever the ebb
and now OF the varying metal currents and however
widely policies have and tren differed there
Will be no dissent from the statement that
the two money metals must remain assOci-
atrd, AS far as We can see In greater
or less proportion. IN the financial systems
fully invoke your wisdom the end that their relative
may become practically liked andstable and that
bOth may receive the free use winch comes rum iuteF
national acceptance uDun a common basis
without anticipating yonr discussions IT Is but an ox-
preston OF the distinct object Of the Conference
doated by law under which the representatives OF
lhc Uucd States are commissioned to meet YOU that
will be able 10 agree upon common ratio between
gold and sycF for tue purpose OF establishing, inerna-
uonally. tao use Of bmcaiic money ana securing Tx
ny OF felstlye value between tlOse Two metals
Tne SD cic means OF attaining this object we trust
will be developed IN the discussion aud comparison
We congratulate ourselves your cooperation to this
end feeling problem Of economical science. and
especially none LOOKING 10 tho common veal Of nations,
Is 100 great Tor practical statesmahshp'
The official language of the Conference is, Of
course French, but the majority Of the dele
gates are somewhat familiar with the English
tongue and many of them speak it iluently, the adj
dress of Mr. FentOn was understood by the most OF
those present before it was read TO them in French
by Mr.. Henry Vignaud, second secretary OF the
United states Legation, who acted as interpreter for
the Commission. Mr.. Fenton's brief but clear state
ment of the case and his felictOus words of well
come and congratulation were heartily approved by
the delegates and placed the American view of the
question before them in q favorable light. After
the completion of the organization, by the appoint
ment Of NJ. Ernest CrampOn, of the Foreign Office,
and NJ Henri Jagerschmidt, of the Ministry OF FL
nance as secretaries and the arrangement of means
for the double translation of the speeches and records
the Conference adjourned until Friday next, when
the American delegates, and possibly some Of the
European delegates. will present the statistics of
the silver question in their own countries At that
time the delegates of England and of Switzerland.
who were absent from the first meeting will also be
present.
The presence in the Conference Of NJ. Leon Say,
the able French 6nancier; of Dr. Brooch the learned
Swedish writer political economy; of Mr.. Gibbs,
former president of the Bank Of England, and his
colleague, Mr.. Goschen, equally noted as authority
on matters Of finance of NJ. Herzog. the noted
Swiss economist and writer financial subjects
and of many other gentlemen of possibly equal
ability and experience, will make tho Conference
marked event in the history of monetary matters.
The full list Of delegates accredited to the Confer
ence Is as follows: