The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1881-04-13

Adde'S all communications 70
fRsW 4 CAMPBELL,
Publisher lnIelligeneeT,
WhSollnE. viva.
The BImslaIIist Conference Resolutions,
The Paris correspondent Of the London
Tma gives the declared official text Of the
resolutions expressing the leading ideas
which France and the United States pro-
pose, according to the correspondent, to
advocate at the Paris Monetary Confer
elCe, which is to open on April 10. It tSl
be says, quite understood that the powers
Invited to the conference are in no way
committed either to the terms oil thein
ton or to any programme, bat will be free
to recommend any measure which may
improve international monetary relations
nor will any power be bound to abide by
the resolutions which may be adopted by
the others:
Following are the preamble and lesOlu'
tons:
/. WHEREAS, Bimetallism, or the none
tary system which consists in Simullane.
ously coming any quantity oil gold and
silver ON the iooting OF legal ratio be-.
tween the rate Of the monetary unit Ia
gold and the weight OF the came unit In
silver, had always been practiced, and that
only aince few years had II ceased 10 on,
erAte 10 any part OF the world.
9. WHEREAS, During nearly century
the principal continental minis had coined
at the legal rate Of ISL all the quantities oil
gold and silver presented for coinage,
whereby alone, Whateyer the viCissitudes
in the production OF gold and the produC.
ton OF silver, the relative value OF the two
metals was necessarily fixed Ia the entire
world at the par Of 15i, nobody In any
country agreeing 10 part with either gold
or silver at less advantageous ratio than
that which 1t was known could be realized
In Europe at the mints which were bound
at the rate OF l6l to convert into coin hav.
ing legal currency without limit oil amount
all the metal they were asked to coin.
8. WHEREAS, BY this uniyerssl par oil
value between gold and silver, the none.
tary material OF the entire world formed 0
single mass as homogeneous as II it had
been composed OF single metal, but with
evident and very important superiority,
that it's paying power was much more eta.
pie than would have been the paying
power OF gold dsjoined from silver, or Of
silver disjoined from gold; and this be.
cause the greater or less stability OF that
paying power depends on the greater or
lees regularity OF monetary production, be-
cause the production OF gold Is very ire.
Vnlar, also that OF silver, while the Joint
production OF the two metals, valued Of
the legal ratio, is quite sufficiently regular
4, WHEREAS, The above mentioned uni
versal par between the value OF the two
metals was Of the greatest service TO coun.
.ries subject 10 monometalllsts, such as
gold monometGlllc England and silver
monometallic India, which countries,
owing 10 that par, could mutually settle
their peCuniary dealings with almost %
much facility and, certainty as II they
had one and the same metal as common
money.
8 WHEREAS AS soon as silver was no
longer freely admitted to coinage by the
States which had previously been bime.
ialic, the universal par Of value between
the two metals necessarily disappeared;
and inasmuch as through that disappear.
anCe the bimetallic and homogeneous
material possessed by the world was de.
composed into two monometAllic mRteri.
heterogeneous 10 each other-the ma.
teriaLGold, the sole metal admitted to free
coinage In Europe and America, and the
material silver, the sole monetary metal In
Asia o tWo'old monometallism, which has
rendered the commercial and financial re.
lations between the two halves Of the
world almost as complicated and hazard.
Gus as II the exchanges between them
we're made by barter.
Q. WHEREAS, Moreover, the states OF the
continent Of EUROPE and the United States
Of America, while admi ting gold alone to
free coinage, are encountered with coined
silver, and the silver coins Of one country
cannot be converted into money In other
countries unless in Asia, but then under.
going all the loss resulting from the differ.
enCe between the ratio at which such
silver hos been coined with regard 10 gold,
and the much smaller ratio OF gold realized
on disposing silver for an Aslatic desti.
nation, now that the universal par no
longer exists, q ratio which would become
smaller and smaller II the offers for sale Of
silver happened to be resumed and CON
tiDued.
7. WHEREAS, 1t is, in fact, impossible TO
withdraw from circulation and get rid Of
the coined silver, not only because Of the
terrible fall which the AsiatiC exchange
would experience, and Of the enormous
losses which would have 10 be borne, but
also beCauae Of the immense void such
withdrawal would leave behind TIA mo
mentary void which could not be filled
either with the present gold, which has
already It's tae, or with the future gold,
which has not issued from the mines In
general, and that chaos extremely preju.
j .cial TO the interests OF all nations, with.
out single exception, is solely attribute.
HE 10 monetary laws now Ia force In
Europe and the United States, and cannot
be put an end to except by reyertins to
bimetalism.
8. AND, WHEREAS, Such reyefsiou To bi.
metAlism and the adoption Of the ratio
l6i BY q preponderatiBg group OF nations
would have the immt diAte effect Of re
esta blishing on q very solid basis the old
universal par oi vAlue between the two
metals, Of enabling Europe without any
loss 10 employ its old silver crowns In pay.
Ing America, and reciprocally Of enabling
the United States, when their balance oil
trade allows II, to pay Europe with silver
from their mines and, lastly, Of making
silver a universal money, while retaining
gold on the footing Of 15i as European
and American money.
Now, THEREVoRB, ActuAted by all these
nnnntdnFatinna the AmnFinan. FTnnnh
ETC, delegates have resolved By common