The Dickinson press., 1892-12-03
MONEY OF NATIONS.
An Important Conference.

Brussels Nov. 23.-Tkc international mon
etary conference met to-day. The proceea-
ings were purely formal. No more charming
place could have been selected iii all lr"S
sells for the meeting of the conference thah
the PalaiS dies Academies. The grand" sane
or marble hall where the delegates hold
their meetings locks out on one sile upon
the splendid park which is the fashionable
summer resort of the residents of BRUSSELS,
and while the view sweeps along the front
of the Palais l;oyalc 10 the Rue Eoyale on
the other side a wide cNpanse of garden,
Slatue-i,lornr.l. divides the Palais deS Acad-
emies from the plaicc Regent continna-
tiOn of the finest of the houlcvards of Brus-
sells. The delegates will find themselves
within easy walking distance of almost
everything worth seeing i'll the Belgian cap
ital. The palais de- la Nation. where the
The sittin. to-day liSt"i an honr ard Il
half Prime Minister Hrrrna'tt. in his
speech. said that this WAS Iii" III >i li! or
'ant conference ever held in l;r'lSs"'S. !hc
question of money excited the n'Si Il: ion
a;c interest and I"onlc were sc..!"ln Tie to
discuss the subject calmly. 1t affected every
economical and social interest. and WAS ut
the bottom of more than one uh"Npl:inel
crisis. The Importance OF the part played
hy metallic money must increase; Checks
and other means of credit. diminished risks,
hut costs of delays arising from the dis
placement of money could never replace
gold and silver. The monetary situation
WAS no longer solely dominated 10y CONNER
rul balance. Other factors now interviewed,
rendering it impossible To say a prior 10
which cause Il rise III exchange is due. III
recent years. exterior circumstances have
been unfavorahle 10 the situation in tho
Latin union. Owing to the adoption of Tho
gold standard by Germany it had been nee
essary for the countries in the union 10 Sls
pend the coinage of silver and they were
now really living under Il monometalic reg
ime. III form the coinage of the two metals
would doubtless be retained i'll their relative
values. but really gold was the only stand
ard. Fivc-franc pieces retained their ful
value only because they were mere counters
The Latin union. even i'll existing crcun
stances. rendered incontcstablc service l
change and freedom from embarrassment Il
regard to the circulation of money. Ihcs
services extended beyond the limits of tn
union which could not disappear withou
involving serious disturbances in the gencr;
situation. The heavy fall in silver in rrcei
times seemed to arise from Il producio
largely in excess of the requirements fu
coinage and the arts and industries. y,
Prof. Soetbcr ard others maintained thn
the excess of production in 1870 was onl
i4.0OO.OOO sterling. while other statiSticiai
calculated that new needs had arisen sine
1870 sufficient TO absorb all the silver in til
world This was the point of mporihne
briefly. and lie hoped that data would /
submitted to the conference which woul
throw light thereon. The conference mus
consider the Importance of the question
what stocks of silver certain countries wi
he obliged To ALLEVIATE in order To adopt Il
exclusive gold standard.