Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-11-23
WEDNESDAY. NOVEMBER %. 1892
The Rrnssels Conference.

= The International Bimetsllic Confer
ence, which began work in Brussels yes
terday. may prove to be of immense
benefit 10 the world, as We expect 1t TO
prove, OF may turn out, as we do not ex-
poet il 10 turn out, TO be a gathering OF
men who are too wise to read the signs OF
the times and who will hearken to no ar
ruments on the side of their opponents.
But we have high authority for believing
that "in the multitude of counseilors
there is safety; and rs the Brussels con-
ference will be the largest assemblage OK
financial experts that ever met together to
consider such questions as those which
will claim the attention OF that confer
ference we may reasonably expect at least
"safe" outcome to be the result OF the
deliberations of that body. The nations
which provided for being represented
in the Brussels conference are England,
France Germany, Spain, Portugal, Aus
ia-Hungary. the United States of
America, and many others of less dignity
and influence. The cable will tell today,
or soon, how many Of them are repre-
eented. The delegates from this country
ara Senator ALLISON and Senator JONES.
Director LEIGH, of the United States Mint
Mt Philadelphia: Representative Nc
CprAKY. OF Kentucky Mr. CANNON, OF New
York. and Mr.. wALKEK. of Massachusetts,
OF whom a majority are said TO De opposed
20 the free coinage Of silver. 1t Is worthy
OF mention that the section which Is
suffering most from the low price
of silver as compared with gold
shosld be. as England is said to be,
the one most opposed to bimetallism. 1t
is also worthy OF mention that the ten
dency toward a gold standard has been
strong during the last year-we might say
wherever that standard has not been
adopted. Even in this country, II we may
infer what the people think on this subject
from what the Presdent-eiect thinks OF 1t,
recommendation is more popular. or, rather,
less unpopular than it was twelve months
ago. Italy is an exception If her with
drawal from the Latin Union means that
she has become inclited toward blmetal-
lism.
We confess that we cannot understand
how the nations of the world could afford
TO issue bonds and sell them for gold as a
means of providing themselves with gold
70 be used in carrying into effect laws pro-
viding tor a single gold standard OF values.
The quantity of gold annually produced in
the world is not large enough 10 justify
the adoption Of the gold standard all over
the world, and the quantity OF gold in cir
culation ia 80 small that when one country
wlthdraws gold from another it SEEING to
he robbipg PETER to pay PAUL. How Will
Austria Hungary be benefited by the adop-
ton of gold standard of values forced
into operation by selling her bonds In
order TO get the gold which she will need
70 enable her TO adopt that standard?
Senator JONES is so thoroughly familiar
with the questions which will be consid-
cred by the Brussels conference that the
people Of the United States need not fear
that the ablest monometallist member of
that conference can gain any advantage
over him in debate.
Mr.. GLADSTONE is firm hdherent to the
gold standard. and his powerful influence
will be felt at Brussels.
Messrs. HAMILTON & Co., of Baltimore.
stated not long ago, in their weekly letter,
that India is firmly and almost inevitably
established upon silver basis. though
India is dependency of England's. The
currency of the Indian government is based
upon the market value of silver bullion, and
the governments revenue is receivable in
silver and the salaries of its officials are
payable in silver. 1t would seem that
England cannot possibly afford to es-
tablish the gold standard in India, or if
she does so. that the whole world will suf-
fer. and especially the United States of
America
Despite the unfavorable circumstances
under which the Brussels conference as
sembles we shall continue to hope for
good results from its deliberations. We
cannot believe that men so able as are the
members of that conference will prove
themselves unequal 10 the situation of the
silver problem. Bimetallists as well rs
monometallists here at home may rest in
the assurance that their respective sides
of the great question Will be ably and fully
presented by the great men who will rep
resent both those schools Of finance.