Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1892-05-26
The Silver Conference.

The Silver Conference.
Great Britain will accept the invi-
tation OF the United States to take
part in the proposed international
monetary conference. This decision
is peculiarly gratifying to the United
States, and the cordial and friendly
language OF Mr.. Goschen, the British
Chancellor of the Exchequer, in an
nouncing the determination OF the
Government, warrants strong
hope that the conference will not be
in vain. 1t is a great point gained
that England consents to consider,
for the common interest Of all COM
nlercial nations, and without prede-
termined antagonism, plans for the
larger use of silver as money. For
years the attitude OF Great Britain
has appeared to be irreconcilably
hostile to any such plans. consent
to take part in the proposed confer
ence does not commit the British
Government to any new policy, it is
true, but it implies a willingness to
seek with candor and fairness some
monetary adjustment upon which
Great Britain and the Uniten States
can agree. Mr.. Goschcn interpreted
the decision OF the Government in
his statements to the bi-metallic de-
putations on Wednesday when he
said: He trusted that the confer
ence would go far in the direction of
arriving at a satisfactory conclusion
OF the vexed question, and that it
would meet all the difficulties that
had beeh raised"
a. 1t will not be inferred that Great
Britain will consent, or that the
United States will be prepared to
propose, the unlimited coinage OF
silver by all nations on the ratio of
16 to l, or Ii - to /, or on any
new ratio. Measures to increase
the use of silver in the currency sys-
teens of the nations" do not neces-
sarily involve any coinage whatever.
The United States does not now coin
any silver at all, but it nevertheless
uses that metal largely as a. basis
for circulation, and with the concur
renee of other nations similar meth
DDS, for instance, the same method
which Secretary Window officially
proposed in his report of 1899, coulG
I've rendered far more effective and
useful than any plan could possibly
be when confined to the operation OF
IL single country. Undoubtedly som'
such plans will be suggested in tn,
International monetary conference,
and the fact that Great Britain il
now willing TO consider them gives
mu,'h reason to hope that he meet
'ng will not be found Ruthless. H..
truth, the increasing difficulties O:
English commerce with In.lia fore,
| upon the attention OF the British
Government the necessity Of adopt
ing some mode of extending anu
uniiying the monetary basis. And
while this country has been learning
thai free coinage would do no good
even to silver miners. other couutries
have been learning that the disuse Of
silver us money does serious harm.
! The consent of Great Britain te
participate in the conference renders
It highly probable that Germany al
50 will accept the invitation. There
has been no reason to doubt that
France and the other nations OF the
Latin Union would accept the inyi
tation and join with the United
States in an earnest effort TO settl,
the vexed question. Their difficult,
has all the time been t,,,at they cou!t
not afford to adopt a monetary sys
tenn antagonistic to that OF Grea,
Britain and Germany even with TIL,
support Of the United States. Blu
ii all the great commercial nations
could unite upon any plan, SO tina
the interests OF some would no longe
be sacrificed for the benefit of others
a monetary adjustment for the Who'll
world might be reached. 1t is in tn
highest degree creditable to the AID
ministration that it has taken tn
initiative in this matter with sucl
success. The silverproducing State
will assuredly be brought to realiz
that, while the Administration can
not and will not assent to free coin
age OF silver by the United State
| q 10nn fhrnws,,~.