The Bottineau pioneer. (Bottineau, N.D.) 1885-1895, 1889-04-11
FROM WASHINGTON.
Probable Policy Of Secretary Win
dom in the Matter of Furtherss1
Bond Purchases.
Vague Talk Of the Government Re-
viving the Notion of an Inter-
national Conference.

WARRINGTON, April 4.-There are intlma-
lions ahead that this administration NAV
soon seek to revive the old notion of an
international conference to agree upon Q
general restoration Of the coinage Of silver
and its use as money in connection with
gold. There have been two such confer
ences since the beginning of the silver dis
cussion IN the United States, that of 1873,
which met upon the invitation of this
country alone, aud that Of 1881, held upon
the Joint invitation of France and the United
States. Nothing came of either but volu,nin-
ons reports. Since the last of these confer
q noes the convention of the Latin union in
1885 has given a slight check to the threat
ened complete extinction of silver coinage in
Western Europe. That is TO cay, the union,
threatened with destruction, has been main
tanned, though with closely limited
power of new coinage. The Cleve-
land administration did nothing towards
the settlement of the information al
silver question except to send Manton Mar
BILE abroad to observe and report upon the
proceedings of the Latin union. His admir-
able report is the freshest literature on the
subject. The rumored movement for a con-
ference on the part OF the United States is
still nebulous, but there is excellent reason
TO believe that it will take definite form in
Que season. The executive is certainly i'm
powered to AXE the preliminary step
towards such n conference during the recess
Of congress. If suitable encouragement were
received from the nations of Europe, author
ity to appoint delegates might be asked of
conRress in the annual message next Deem
her, and the conference might be held some
time during the winter. If an international
confer exec hadno other result, it might do
good by demonstrating anew the impossi-
bility of bringing other nations to our point
OF a bimetallic coinage.
There has been some newspaper discussion
OF the domestic policy Of the new admins
tration in relation to silver, as though 1t
were In any way unsettled or subject to
change. A definite and uniform policy has
been pursued by the treasury for ten years
past, through four different administrations,
md the rule of two different political parties.
It is unlikely that any secretary of the treas
ury would change it without good reason.
It Is especially unlikely that n change would
be made by Mr.: Window, who approved the
uniform policy of the department by his
course when at the head eight years ago.
The law gives the secretary discretion to
coin from So, 900, 600 to 4,00O.O 600 of
silver per month For ten years the coinage
has been kept as near the minimum as pos
sible. There will be no change in the policy
Of the department in this respect. There is
certainly no reason for a change III the con-
dition of the treasury balances. To-day's
statement shows SIG. OO0, 900 silver lying
idle in the treasury vaults besides that which
IL represented in the circulation by silver
certificates.
A more urgent question awaiting the de-
policy to be adopted in relation to tho
rapidly accommodating surplus and the pur-
chase of bonds The treasury has bought no
bonds since The 4th of March. TIL daily Of
ferings are small and all at prices above the
maximum fixed by the secretary. This Is
1O8 for 4l2 per cents The treasury is buy
ing no 4 per cents, though pressure is brought
upon the secretary to induce him to do SO.
There ia pretty clear evidence of a concerted
purpose on the part Of holders of bonds to
keep the price a fraction above the depart
ment's maximum. 1t is not believed that
this obstacle to purchases would be over
come by inviting offerings of As instead OF
4los. To-day's offerings were a little more
than s. .OOO,O 900 of 41ss at 1OS12 and above.
The opinion prevails at the treasury that
some new steps or different policy will have
20 be adopted to stimulate offerings Of bonds,
unless the entire plan of reducing the sur
plus In this way is to be abandoned. In the
meantime, the cash balance in the treasury
10 creeping up. At the close of business to-
day 1t was something over $54, 600, OOO.
Dr. f. A. CARLE.