The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1881-03-10
The Proposed international Silver
Conference.

The nations of Europe whose example
in demonetizing silver the people of the
United States were advised to follow,
are retracing their steps, and confessing
their error after having tried simple
currency of gold. Even Bismarck begins
to realize that fact, and is now anxious
to Join the United States, France, Bel
gium and other nations in common
understanding as to the reconciliation
of silver. This country should meet III
said conference with the understands
ing that her policy of double standard
of silver and gold is not debatable mat
ter-that it is irrevocably fixed. And
as to changing the ratio of the two met.
ais, there are almost insuperable obsta'
cles to it. The United States has con
tracted to pay her public debt of nearly
two thousand millions of dollars in gold
or silver of 4123 grains to the dollar, at
her option, Senate Resolutions Jan.
%, 1879. To increase the weight Of the
dollar while this debt stands would be
to rob the people, land to reduce it would
be to wrong the public creditor. From
the indications there is but little prOba-
bility of an attempt by foreign nations
to induce the United States to discard
silver money. The effort may be made
to put more metal into it, which would
operate most unjustly to the people OF
the country who have large debt to
paw in the dollar of the present coinage.
To show the change that is going on
in favor of silver, we subjoin an extract
from the Philadelphia American, Re-
publican paper of fairness and ability
Mr. Hugh McCulloch has come over to
the bi-metalIsts. In letter to Bullion, he
announces his agreement with those who
hold that commerce cannot afford to see
either metal discredited or deprived of its
monetary character. We congratulate Mr..
McCuIloch on the discretion he has shown
in selecting the time of his conversion. Now
that all continental Europe is grooming un-
der the tyranny of the mono-metallic sys-
tenn, and seeing its gold drained off by Eng
land for expectation to America, it does not
involve much risk to predict that things
must take turn in favor of silver as an in
ternational money. And when these signs
of the times are supplemented by the official
declarations of German and French states
men, that the time is coming for another in
ternational conference on the silver question,
the probability of change approaches GER
tainty But if these official utterances are
meant as feelers toward America, and we are
expected to take the initiative in this bust
ness, we hope that the national dignity will
be consulted by ignoring such hints. The
tone which our representatives at the last
onference-General Walker, for instance,
were obliged to assume, and the lectures
administered to us, as advocates of silver
because the chief producers of that metal,
should suffice to prevent any action, except
upon European invitation. The statesmen
of the Old World should understand that
we are not suffering from the present disor-
ganization of monetary interests On the
contrary, the United States are the only
power which is prospecting in the great
struggle for the possession of gold, and there
seems no reason to expect that the current
of gold is soon to change its direction.