Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1892-11-26
MORNING APPEAL
-. NOVEMBER 26
LIGHT BREAKING.

wherein that distinguished gentle
men-who. by the way, is to be
Tories of England what JAMES G.
BLAINE was to be the Republican
party ten years ago. the bestowed
man-before this great Manchester
town meeting, which was presided
over by the Mayor, supported in an
elaborate speech, the following res>
solution:
That, in the opinion of the citizens
of Manchester, in public meeting
assembled, the exceedingly unsatis-
factory condition of our productive
industries and of commerce generally,
is largely due to the appreciation of
gold, and the violent fluctuations
and uncertainty of exchange between
gold standard and silver standard
countries. That the best and most
effective remedy would be secured by
an agreement, on broad and inter
notional basis, to reopen the MINIS
of the nations of the world to the
unrestricted coinage of both gold and
silver, and that to that end her
Majesty's Government be earnestly
requested to cooperate with. other
nations at the forthcoming monetary
conference to secure such an interna-
tional agreement.
He took up the question of bimet
alism, and discussed it from a scien-
tifc, from a financial, and from
nearly every other point of view.
He was preceded by three able
speakers, the first one showing the
effect of England's present currency
system upon the international trade
between Lancashire and silver using
countries. The second what the
view of the working classes of Man
chester on the subject was. The
third showed the steady, rapid
and continuous appreciation of gold,
combined with corresponding de
probation of prices, the effect upon
permanent debts, fixed property, and
the interest of the great society in
which so many of the workingmen
invest their savings.
Mr.. Balfour began by saying that
the present condition of the currency
vas most unsatisfactory. He first
.ook up and considered the question
IF whether it was true or not than an
agreement can establish
he price Of lmetal and determine
he relative value of gold and silver.
de disputes the assertion that he re
alive values of gold and silver IS due
o the labor necessary to produce it,
nd declares that it is due to de-
nand and supply;
He next proceeds to consider
7hether bimetallisn is desirable, and
oncludes that it certainly is, and he
olds that it is necessary for every
nglishman to form his own judg-
lent on the question. He explains
hen what is wanted in currency, as
ollows:
1--WE require that it shall be a con-
enient medium of exchange be-
Reen different countries, and we re
uire of it that it shall be fair and
record of obligations over
ing periods of time"
OF this speech the Salt Lake Trib-
ne says:
That is most important thing,
ecause in point of fact, when silver
as demonetized In the United State
lere was no consideration of the
sbts then due, and the effect which
lie law would have upon the debtors
the country. He measures money
? the record it makes permanent of
lie debts and obligations lasting
trough any periods of time and he
ks: "Can we claim that great
lality for standard which by the
lmission of the monometallists
has appreciated in some
teen years no less than 80 or 50
or cent? All he asks is for stan>
ard that will remain constant, and
e finds out that gold will not answer
ecause that in fifteen years it has
1vanced to an imitation of 40 per
emit. He says Austria will not 20 r
n as she is; America will not 60 on
) she is; India cannot go on as she
!. He points out the danger or con-
lnuing the matter with India on the
resent basis.
Indeed, the whole tone of his n
peech is hearty endorsement of c
imetallism, and he puts it on the :
round that it is an absolute neces-
ty; that without it England and her
reat colonies will be all ruined to-
afhar Snah cpaooh r,oIoo ono