Omaha daily bee., 1889-07-01
silver Mt Home and Abroad.

Ne,v York Commercial Bulletin, June 49,
No careful observer of the course of finan-
cial discussion in Europe can doubt that pub
lie sentiment is forming rapidly in England,
Germany and France in favor Of an iuterna-
tional agreement for the maintenance of a
bimetaihc monetary standard. The events
that have fallowed the publication of the re-
port of the British currency commission and
the expressions which it has called forth
have made more apparent than ever before
the widespread popular recognition of the
Importance Of international cooperation in
the maintenance of q double standard. At
the same time current developments make
it evident that the forces which will brlug
about an international agreement must over
come many obstacles and work gradually to
its consummatlon. Nothing is palmer than
that Germany however much in favor of a
double standard, will await the action of
England, and that the adoption of an effec-
tive international agreement depends on
the British government. II is to the English
situation, then, that eyes are turned, and
there we find the bltnetallic movement gain
ing in force and recognized as political
power that will sooner or later assert itself.
But we find also that the British government
is content to pursue waiting policy and to
be forced into an international bimetallic
agreement rather than take the initiative.
Wlunln inc present lllOnCn Dnere nave Deen
number of significant developments; public
meetings, conferences with representatives
of the government and a debate in parlia-
ment; but all have pointed to the same con-
clusion, that the attitude of the British gov
ernment is conservatives; that its representa-
tives are willing to hold back, to encourage
other nations in the use of silver, and to stick
to the single gold standard until the force of
circumstances and an overwhelming declava-
ton of the will OF the people compel cooper
in m N q tinn al hlmptnllip mnvnmnOt
There is little indication of doubt that this
will be the outcome, but there is no hint of a
| purpose on the part of the British govern.
ment to take any step that will hasten this
consummation. Two conclusions are clearly
pointed out for the guidance of the United
States. First, that for the present nothing is
to be expected from international co-opera-
tion. Second, that we can commit no greater
folly than to interpose new obstacles to the
accomplishment of this desirable solution,
or to decrease our own influence in bringin <
| it about. One other fact of decided import
ance to us is made clear, and that Is that
England recognizes that by suspending her
silver coinage we could force an international
agreement for the maintenance of a double
monetary standard. The suspension of our
compulsory and useless coinage is our true
policy: but this being out OF the question,
members of the new congress and represen-
tatives Of the new administration must per-
| ceive that the tendency of financial develop
ments throughout The world is to increase
our obligation to treat currency questions
with extreme caution, and to protect our $780,
600, 900 of silver circulation and maintain Its
gold value until an international agreement
| is reached. III must be apparent to all stu
dents of the financial situation at home and
abroad that only by conservative and eau
tious measures can we cast our influence in
favor of an international monetary agree
ment, while by concession 10 the demands
of the silver men we can only invite financial
disturbance and disaster and nterpose OBJ
stacles to a solution so manifestly to our in
teragt