The Londonderry sifter. (South Londonderry, Vt.) 1883-19??, 1892-12-02
THU
1t wasn't much of a comet after all,
The silver Conferences.


International bimetallism is what the
silver advocates are aiming at at Brus
sells, the more moderate of them, that is
The London Times says of the confer
ence: ''The duty of the British delegates
is to listen and learn and contribute what
they can to the collective wisdom among
many" That is about%what delegates
from all the countries viii do. Nobody
has authority to commit any country to
any given measure, but all must council
together and recommend what is best.
In the use of silver as money the in
te,ests of America and India lie to-
gether, the silver men say. England
is therefore somewhat in the position
of the man between the devil and the
deep sea. Millions of her subjects de-
mand silver legal tender, while on
the other hand the nations of Europe
one after another are pronouncing in ia
vor of the single gold standard, and
England herself, as creditor nation,
inclines that way. Our own delegates
to the conference represent all shades of
the silver question in this country. Elk
Comptroller of the Treasury II. w. Can
non is bimetallist. Senator Jones, of
Nevada, is for free silver coinage; Sen
ator Allison, of Iowa, is a moderate sill
yer man; Congressman McCreary, of
Kentucky, goes in for silver, but not
quite to the extent of Senator Jones; Di-
rector of the Mint Edward o. Leach
thinks we are coming too much silver at
present, while President Andrews, of
Brown university, is perhaps the nearest
to ''goldbug" of any of them.
The propositions advanced by the in
ternational Hmetallists will undoubted-
ly be based upon the scheme elaborated
by the late Professor Soetbeer, of Got
tingen university, Germany. Unfortu-
nately DR.. Soetbeer died just too soon to
take part in this important conference.
DR.. Soetbeer advocated changing the
present ratio of silver to gold from the
1515 to in France and the 16 to l III
the United States to a ratio of 20 to
/ the world over. He would have all
nations adopt this standard and retire
and recon their silver currency to cor
respond with it.
Then he proposed to fix some definite
weight of fine gold as the worlds mon
etary unit. He would further have all
the gold coins smaller than twenty franc
or four dollar pieces retired within ten
years. All paper money OF value be-
low the same amount-four dollars in
our money-was to be retired, too, and
the place taken by silver or silver GER
tifcates. But to prevent the accumula-
ton of great quantities of paper money
and the accompanying accumulation
of silver coins, such as the United
States has in its treasury vaults at
Washington, DIR. Soetbeer would only
permit the issue of silver certificates in
denominations not less than half the
value of the lowest gold coin, which in
our money would be two dollars.
The plan also included the retirement
within ten years of all bank notes at
present in use and the issuance of new
paper currency based on the new ratio
of gold and silver The nations were to
agree on a uniform mode of assaying.
Gold certificates were proposed, and
gold and silver certificates were to be is
sued by ''the principal banks or central
minis" Every government was to OBJ
ligate itself to receive its own silver
coins in payment of all sums. But the
legal tender feature, SO far as private
business is concerned, is different and
merits attention. Banks and private in
dividuals were to accept silver in pay
ment of debts to the amount of three
times the value of the lowest gold coin.
Under this rule silver in this country
would be receivable for debts to the
amount of twelve dollars.
No country was to be allowed to issue
notes of credit payable in silver only,
and no country was to withdraw from
this bimetallic union under a years no
tice,