New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-05-13
THE SILVER CONFERENCE.

Great Britain will accept the invitation of
the United States to take part in the proposed
international monetary conference. This de-
decision is peculiarly gratifying to the United
States. and the cordial and friendly language
of Mr.. Goschen, the British Chancellor OF the
Exchequer, in announcing 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
mercial nations, and without predetermined
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 conference does not commit the
British Government to any new policy, 1t is
true but it implies a willingness to seek with
candor and fairness some monetary adjustment
upon which Great Britain and the United States
can agree. Mr.. Goschen interpreted the de-
cision of the Government in his statements to
the bi-mctaic Populations on Wednesday when
he said "IIe trusted that the conference
would 60 far in the direction of arriving at a
satisfactory conclusion of the vexed question,
and that it would meet all the difficulties that
had been rased.'
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 6 TO /, or
1912 to !, or on any new ratio. "Mcasures
to increase the use of silver in the currency
systems Of the nations" do not necessarily in
volve any coinage whatever. The United
States does not now coin any silver at all, but
it nevertheless uses that metal largely as basis
for circulation, and with the concurrence Of
other nations similar methods, for instance, the
same method which Secretary Window officially
proposed in his report of 1899. could be rem
dered far more effective and useful than any
plan could possibly be when confined to the
operations of single country. Undoubtedly
some such plans will be suggested in the inter
national monetary conference. and the fact
that Great Britain is now willing TO consider
them gives much reason Ia hope that the meet
ing will not be found fruitless. In truth. tho
increasing difficulties of English commerce with
India force upon the attention of the British
Government the necessity of adopting some
mode of extending and unifying the monetary
basis. And while this country has been learn
ing that free coinage would do no good even
learning that the disuse of silver as money does
serious harm.
The consent of Great Britain to participate
| in the conference renders it highly probable
that Germany also will accept the invitation.
| There has been no reason to doubt that France
| and the other nations Of the Latin Union would
accept the invitation and join with the United
| States in an earnest effort TO settle the vc1ed
question. Their difficulty has all the time been
that they could not afford to adopt monetary
system antagOnistic to that Of Great Britain
and Germany, even with the support Of the
| United States But if all the great CONNER
cial nations could unite upon any plan, so that
the interests of some would no longer be sacri-
feed for the benefit Of others, a monetary ad-
justment for the whole world might be reached.
1t is in the highest degree credtablc to tho
Administration that it has taken the initiative
in this matter with such success. The silver
producing States will assurcdly be brought to
realize that while the Administration cannot
and will not assent to free coinage of silver
by the United States alone. throwing upon this
country all the responsibilities, risks and sacr-
fees of an effort to strengthen and broaden
the monetary system Of the civilized world, it
is nevertheless ready and anxious to do all
that can be done in conjunction with other ma
tons to correct the evils which have grown
out of the disuSe of silver