The Saline County journal. [volume] (Salina, Kan.) 1871-1893, 1886-12-02
TRE MONETARY CONFERENCE
sHiHPl AsTEaS.

In 1873 Congress directed Presi-
dent Hayes 10 invite The Governments
Europe belonging % what Is known
a. the Latin Union. and sueh as b.
might deem advisabie, % join a.
United states In d conferences with g
view 10 the adoption Of q c0mmrii
ratio between gold aud silver Tor the
purpose Of establishing international
IN the use Of bi-uietailic money and
securing fixidity Of relative value be-
tween these metals In pursuance
OF these directions the President inyit-
ed European nations 10 send delegates
70 the United States Tor the paI-
p0se mentioned. Ihe couveniiOn
met Aug. 10. 1915, delegates being
present from Ausiria-du ungary, Bel
gium, France. Great Britain, Greeee.
Italy, the Netherlands, Russia,
sweden, Norway, sand Switzerland.
The free coinage Of silver aud Tie
establishment Of bi metallic system
were freely discussed, but were uot
voted upon by the conference. Fin
ally France and England drew up an
answer to be made by the European
% the American delegates Ia the form
Of three propositions. The first lie
clared that IL WAS necessary Ia main
tain in the world the monetary
functions Of silver a. those OF gold
but that the selection of Ons or the
other Of these metals Tor use, 90 boin.
should be decided by eaeh state for
itself. The seeUnd said that the
question Of the restriction Of silver
coinage should also be left to the dis
eretiOn Of each State or group Of
states, especially as the monetary
situation in diff-rent countries is vari-
Ously affected by the fluctuations in
silver aud the third decided tnat the
differences OF opinion ON tile subject
made 10 quite out Of the question to
adopt a common ratio between the
two metals. IL was noticeable
throughout the conference that tbe
delegates from America were treated
rs messengers vino had come to sub
nit a proposition 10 tie European
delegates, rather than as represents
tives Of the government whicA hAd
called the conference together
When the propositions above mention
Ell had been read, the European dele
gates Withdrew in a body to vote upon
them, Leaving the delegates from the
criminals waiting for the verdict" I"
The propositions were adOqted ny all
the European delegates, and this
action closed the conference. Ia Feb
ruury, 1851, the governments Of
France and The United States extend
ed joint Invitations 10 the European
nations to take part Ia similar con
ference, which assembled IN Paris
April -, 1881. Deieyatss fTUm the
nations represented ia Ihe previous
conference were preseBt, auu in al
ditiOn thereto were delegates from
Germany, British India, Denmark,
and Portugal. The main question
under discussion, a. before, was the
establishment Of liked ratio between
gold aud silver, but after thirteen sess-
iOus, no definite result Was reached,
the conference adjourned to meet 10
the following year. lt did not Teas-
sembie, however, at the time appoint
ed, nor has anything been since done
70 call IL together. There Wrs Tu pid
rise IN the value Of gold aud silver,
consequent upon the issue of green-
backs an 1862, ami In q lew months AL
small change had disappeared from
circulation. The people had 20 iali
lack urOn postage stamps and private
note issues for change. To relieve
this annoying need Congress. in
March, 1865, passed a bili authorizing
the issue OF 5000. 900 iu fractional
notes. The private nOles for ~, D and
~ cents that had been issued by
butchers aud bakers, to facilitate !, ca
trade, had received the naine shlH
plgsters-either from the idea that
.hey were better thau nothing, ~
plaster for "A broken shin, or, more
probably, in allusiOn 10 tine fact thst
tney were generally utterly worthless
outside Of the town where they were
issued-and tine same name was given
10 the governments fractional note
when they came Oui. lt had no par
iicular applicability 10 these uDte-, a.
they were legaltender everywhere in
sums not exceeding $, bur it was
convenient name, aud it stuck"