Omaha daily bee., 1889-04-08
THE PRESIDENT AND SILVER

President Harrison is said to favor
another international conference for the
establishment of blmetallic standard
of money. There is probably better
chance now of bringing about such a
conference than there has been at any
previous time in the past eight years,
or since the last conference was held.
The attempts made within that time to
induce the European governments con-
cerned to confer on this subject received
no encouragement. Both England and
Germany declined to reopen the ques-
tion, and the last person sent to Europe
to ascertain the sentiment there, Mr..
Manton Marble, reported that he found
the consensus of opinion opposed to any
change, and he expressed the convic-
tion that the United States might as
well drop the matter, so far as the inter-
ested countries of Europe were con-
cerned.
There has been a notable change of
sentiment abroad, however, since Mr..
Marble made his report; among the peo-
pie at least, if not on the
part of the governments. Bimetal-
lism has been gaining friends in
Germany and England and among
its stauuchest advocates in both
countries are men who, q few years ago,
were arrayed against it. 1t was shown,
short time ago, that bi-metallism had
very strong support in the German
parliament, and quite recently Mr..
Goschen, chancellor of the British ex-
chequer, gave public expression favor
able to it. The English royal commits
sion on gold and silver, appointed last
year, was equally divided as to the ad-
visibility OF inviting the United States,
Germany, and the countries forming
the Latin union to join in consultation
with Great Britain and her colonies to
discuss the expediency of fixing ratio
at which the coins of eithermetal should
be available for the payment of all debts
at the option of the debtor.
These recent circumstances show that
the chance Of securing an international
conference to consider the question of
uniform standard for gold and silver
money has improved, and Suggest that
il a movement for this purpose on the
part of our government were not at once
successful it is reasonable to believe it
would be during the life of the present
administration. But in the event
of such conference being
brought about, is there any sub
stantial reason for supposlng it
would accomplish anything? The Eu-
ropean governments would not be likely
to appoint representatives who favor
bimetallism, and the popular sentiment
favorable to u change is yet far too
weak to cope with the mighty influence
OF the money power. Europe is con-
troiled by an aristocracy of accumu-
lated capital; and, so long rs that vast
power demands that the present condi-
| tion OF affairs shall remain, the people
will be unable tu induce the govern
ments to make any change, though
they may not decline to discuss the
matter.
While, therefore, the chance is bet
| ter now than for number OF years of
bringing about an international mon
etary conference, the probability OF its
accomplishing anything has not very
| greatly improved. 1t is, certainly, ad-
| visable that this government should en-
| deavor TO secure a conference, and hav-
| ing done so we may properly, in the
event OF failure, consider whether JUS
uce and self-respect do not require the
| United States to ignore the action OF
Europe with regard to silver and join
with the rest OF mankind in tho estab-